And you didn't answer to queston that was: Why does it exist? And while i am on it, can you also answer to why not call it USD if value is pegged to USD? It's basically USD anyway.
No offense buddy but I find this question funny. Suppose I developed a casino and you are asking me why did you develop a casino. Isn't it obvious why I build a platform?
But i didn't ask why they build a casino now did i? I didn't want an answer to that because building casino makes sense. Making up JET however doesn't make any sense when they have other stablecoins. It shouldn't be that hard to explain the reason for it other then "it rewards users". Now it couldn't be scam because it gives rewards, right?
Not only Jet on coins.game but there are tens or even more casinos out there who have their token coin. Some of them worth a dollar and some others are purely numbers and does not have any value. I am sure you heard about bc game. They BCD and it's their platform's stable coin, Even though they launched it on blockchain right now, BCD does not existed on the blockchain when they introduced at the beginning. There are a few more casinos. I think it's obvious that casinos design a coin to reward their players which can be converted to real crypto.
I was aware of that other casinos offering tokens, and some of them make more sense to exist than others. But i didn't recall any of them offering their own stablecoin.
So i did read about BCD now from their own blog. And sure, people are free make their own stabletoken with a blockchain, by all means, but i couln't find any audit for reserves for that either.
So i could be asking basically same question under their ANN, but i am here now.
Frankly i am pretty surprised why would you defend something like this. It's centralized, opaque, no audit what so ever and doesn't have any reason to exist. No wonder fall of ust got people by surprise. It offered rewards too.
Reason that these threads are not moderated is because critisism can't be silenced. Avoiding to give a good answer to legit questions is a red flag. I would even accept an answer: "we thought it would be fun". It woulnd't raise the legitimity of it but, at least that explains the reasoning for it. Giving more rewards just underlines the potential scam.
I can think of one reason for JET to exist and that's something i already explained.