Ju.com Launches On-Chain Insurance Mechanism to Compensate 5M Project Losses

The new JuTrust mechanism offers up to 30% coverage in JU computing power and tokens, with first payouts expected within three working days.

Summary

Ju.com has introduced JuTrust, an on-chain insurance plan designed to address user losses from the 5M community project irregularities. The plan provides 30% compensation, offering JU computing power for minor losses and computing power plus JU tokens for severe cases. The first compensation batch will be issued within three working days. CEO Sammi Li stated that protecting users remains a priority despite 5M being a third-party project. The platform’s trading, custody, and withdrawal services remain fully operational, having processed over 12,000 withdrawal requests. Ju.com attributed JU token volatility to market conditions and committed to tightening third-party entry standards while broadening insurance coverage.

Terms & Concepts
  • On-Chain Insurance: A blockchain-based mechanism for providing financial compensation to users affected by specific events, with transactions recorded on the blockchain for transparency.
  • JU Computing Power: A unit or allocation of computational resources on the Ju.com platform, used for mining or processing tasks, granted as part of compensation.
  • JU Token: The native cryptocurrency asset of the Ju.com platform, used in transactions, rewards, and compensation programs.