JFIN 1st Stake Rewards Distribution

On 7th September, another historic day for JFIN, JFIN’s Stake rewards has been distributed to the JFIN staker for the 1st time. This is the event to show their completion of DDLP Decentralized Digital Lending Platform.

Based on the JFIN’s ICO on 14th February 2018, with the objective to build digital lending platform on blockchain for unbank people in Thailand. From the whitepaper, the platform targeted to complete on October 2019, this mean the team has successfully launched the platform 2 month faster than planned.

After 30 days from the launch ceremony on 7th August, there are 14,421 people download ‘Pah’ Applications, 6,010 people has passed the KYC process, and there are 289 people got approved to get loan.

So from the 30 THB platform fee per transaction, 30% of the fee will be kept and distributed as JFIN stake rewards. Total 2,601 THB fee from the first month transaction had been used to buy 1,334 JFIN in the exchange. There are total 58 JFIN Stakers with 5,262,166.5389 JFIN. Therefore, if Stake 4,000 JFIN, JFIN Staker would get estimately 1 JFIN as stake rewards.

From the response, this is the first important step of JFIN and its DDLP platform. Additional impressive lending products will be created together with the improvement of their J Scoring (The new way of Thai people credit scoring).

Let’s walk together for another financial alternative for Thai people.

Note 1 : Stake Reward Distribution process will be done every Tuesdays.

Note 2 : Except the 1st time distribution on Saturday 7th September because it is the first 30 days after the launch date on 7 August 2019

Note 3 : As from the minimum transfer limit of Exchange at 500 THB, the fee from DDLP will be collected until 500 THB before on the next Tuesdays.