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Mukesh Ambani's JioCoin launched? 5 points explained about Jio Platforms’ partnership with Polygon Labs
JioCoin is designed by Reliance as a reward mechanism for people who browse the internet via JioShphere.
Updated : Jan 19, 2025, 12:11 PM IST
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Mukesh Ambani’s Jio Platforms Ltd a unit of Reliance Industries has reportedly launched JioCoin, a reward token, on the Ethereumlayer 2 network Polygon. However, no official announcement about JioCoin, but a lot of users have seen the reward token was mentioned on JioSphere, a browser that works with both iOS and Android smartphones.
In a post onsocial media platform X, a user wrote: “Jiocoin wallet is LIVE!!! Yes, yes, this is an unbelievable update! This is real... it's happening! You can accumulate JioCoins in a Web3 Wallet built on Polygon (A Public Blockchain).”
Additionally, the person posted a screenshot mentioning JioCoin Wallet.
He asserted that JioSphere subscribers would receive rewards for their internet browsing.
In a post on social media platform X, a user wrote: “Jiocoin wallet is LIVE!!! Yes, yes, this is an unbelievable update! This is real... it's happening! You can accumulate JioCoins in a Web3 Wallet built on Polygon (A Public Blockchain).”
Additionally, the person posted a screenshot mentioning JioCoin Wallet.
Additionally, he asserted that JioSphere subscribers would receive rewards for their internet browsing.
key points about JioCoin
- JioCoin is designed to serve as a reward token for JioSphere web browser users.
- Its launch follows Jio's partnership with Polygon Labs to enhance its Web3 and blockchain capabilities.
- Its launch follows Jio's partnership with Polygon Labs to enhance its Web3 and blockchain capabilities.
- The Jio reward token cannot be redeemed or transferred.
- Given India's strict regulations on cryptocurrencies, which include a 30% gain tax and a 1% source-tax deduction, its future is still unknown.
- Given that the terms of use state that a UPI-linked bank account is necessary for redemption, there is a chance that the incentive tokens may eventually be exchanged for cash.
