Jur will publish quarterly Jur Markets Reports providing regular updates on the state of the market. This includes partnerships, institutional strategies and relevant JUR token-related announcements.
Jur AG (“Jur”), being a responsible stakeholder and a JUR token holder, has chosen to be transparent about its token management to keep the community and other contributors informed.
Jur will begin this activity in December of 2019. This first Report, Nr. 0 is regarding the key elements of the IEO and other essential information about the token management policy that Jur is going to adopt.
Jur Market Reports
Considering the IEO was completed on the 28th of August, 2019, we will establish a starting quarterly period at the end of September, for increased accountability on token usage and to allow ourselves time to ensure best practices are followed.
The date of the first Report will be 31.12.2019. The current Report Nr. 0 sets out the basics of the JUR Token Management Policy and other transparency aspects.
Jur has successfully concluded the IEO (Initial Exchange Offering) on OceanEx, as the first IEO on the exchange.
Jur’s IEO has collected a significant interest from the market, reaching an amount of desired subscription equal to 10M USD (check out the more detailed article on the IEO analysis).
The raise has been of 2M USD for 10% of the total supply of JUR tokens.
The total supply of JUR is a fixed 1 billion of pre-minted tokens. The tokens are qualified as hybrid utility-payment tokens according to Swiss Law. The tokens of Team and Private Contributors have a vesting plan with a 6 months lock-in period and a gradual release over 12 months (private contributors) and 18 months (team).
Jur has collected the involvement of primary contributors such as Fenbushi Capital and VeChain(read more about the partnerships on the links provided).Jur strongly believes in the VeChain ecosystem for Jur’s growth as its applications will be mostly B2B-oriented. Jur is VeChain’s exclusive partner for the smart legal contract and dispute resolution area and network.
Jur has also successfully concluded several commercial partnerships and strategic agreements. Those partnerships and agreements will be disclosed during Q4 2019 and described in JUR Market Report 1(to be released on 31.12.19).
JUR Tokens Management
The JUR token has been distributed as announced in the following way:
- 10% IEO supply (transaction);
- 10% Private Contributors, lock-in period of 6 months and quarterly releases over 12 months;
- 10% Team, Scientific Committee, and Advisors, lock-in period of 6 months and releases over 18 months;
- 20% Business Development;
- 30% Tech Development and Operations;
- 20% Company Reserve;
The Company Reserve is meant to be used over a long-term period. At the present stage, Jur is unable to predict the plan for those funds as it is highly dependent on next year’s activities, but does commit to share a detailed plan within Q4 2020. Until then, these funds will be locked.
The phases of business development, tech and operations are accounted on a quarterly basis and will be communicated promptly through Jur’s channels.
For providing direct accountability over the vesting period in place, Jur publicly shares information about its wallets as follows:
IEO supply: 10% of tot supply
Transaction ID: 0x747fa3858456f3978cc747ca4290111b933986d5
Private Contributors: 10% of tot supply
Team, Scientific Committee and Advisors: 10% of tot supply
Company Reserve: 20% of tot supply
Jur believes that doing so increases transparency amongst all contributors that believe in the project.
Jur strategic plans Q4 2019
In the next quarter, Jur will focus on tech development, product releases, activities of the New Lab for Justice, and generic business development activities.
Propelled by the need to increase the adoption of the JUR token, Jur, following a lean method, will be working over unique solutions that could drive the adoption of the Jur ecosystem between Q1-Q2 2020.
The progress in this sense will be highlighted in the first Jur Market Report to be released on 31.12.2019.
The JUR token is listed on OceanEx.