JPEX Unveils Plan to Become a DAO

Struggling cryptocurrency exchange JPEX has pushed forward with a plan to transition into a decentralized autonomous organization (DAO).

As part of this plan, the exchange will convert user assets into dividend shares, and incentivize users to lock them up for a period of two years.

On October 4, the exchange announced that its DAO shareholder dividend program had been approved by 68% of users.

Under this scheme, users can exchange their frozen assets for DAO Stakeholder dividends at a 1:1 ratio.

JPEX also offers a buyback option at 30% of the conversion price after one year, and 100% after two years.

In a previous announcement, JPEX stated that users agreeing to this plan would receive dividends through a new token listing, trading fees, and a distribution of the exchange’s native token, JPEX Coin (JPC), proportional to their shareholder dividends.