Key Frequently Asked Questions

What is Joule?

On the platform, Joule is at the same time the unit of Price, the unit of Popularity Index and a Cryptocurrency (token symbol: JUL). In other words, it has multiple related functions.

Is Joule an ICO (Initial Coin Offering)?

No. The Joule app is already operational on blockchain before the tokens are released.

Is Joule a Ponzi scheme?

No. The Referrer Commission is our way of recognizing the great contribution of our members promoting this amazing technology to their friends. Also, the Referrer does not make money automatically just by bringing in new users to the platform. All parties have to trade actively to generate the transaction fees powering the Referrer Commission scheme.

How can I join Joule?

Use the "Contact Us" form on our website and select the subject "Get a referrer". You will be contacted by email.

What are the trading hours of the platform?

Currently, trading is open 01:00 - 15:00 UTC Daily. ( = Hong Kong Time: 09:00 - 23:00)

What are the trading costs?

For each transaction unit quantity, here are the parameters: Unit margin: 5J. Unit transaction fee: 0.05J on both Long & Short sides.

What is the price range?

Same for all items. Price range: 0J - 100J. Price interval: 0.1J. Maximum daily price fluctuation: plus-or-minus 5J from previous close.

How do I interpret the fields in Account - Balance?

"Available": Joule tokens that are available for trade or withdrawal. "On Orders": The fund temporarily on-hold for your orders waiting in queue. "Margin": The fund held up to take all your net positions. "Total": Sum of the above.

On Account page, what are the differences between Net Positions, Open Orders and Trade History ?

"Open Orders": Your orders in queue that have not been transacted. "Trade History": All your transacted orders. "Net Position": Long and Short transactions offset each other to become a Net Position. The table lists your latest net position on each item.

What is meant by Market Price?

"Market Price": It is defined as the latest transaction price of an item in the market.

What is Open Interest?

"Open Interest": Total Quantity of all the Long (= all the Short) Net Positions on an item held by all users.

What is "Marked to Market" ?

"Marked to Market": In order to reflect the market value of a user's account, the system uses the latest market price as a "reference price" to calculate the gain or loss of a user's Net Position and reflect it in Account - Available fund. This process happens when the user makes a new transaction, and at each day-close when all Net Positions of all users are Marked to Market with the closing price.

Where and how can I buy more Joule tokens?

Currently, you can buy more Joule tokens through our Operating Agency in Hong Kong. Contact: Whatsapp: +852 62131000. We are also working on possible online payment options through website or in-app purchases.

Is Joule token listed on any crypto exchanges?

We are working to list Joule token on popular crypto exchanges so that users can trade Joule tokens on secondary markets. Please stay tuned for update on this website.

What are the ways to earn instead of buy Joule tokens?

Currently, there two main ways. 1) Trade wisely to maximize gains and minimize losses. 2) Teach others about Joule and earn recurring Referrer Commission.

What is Referrer Commission?

Each successful transaction incurs a small transaction fee (0.05J per unit). Part of that transaction fee (0.01J per unit) is rewarded to the Referrer. This is a recurring commission calculated at each month-end and credited in the following month.

What is the "discount factor" of Referrer Commission?

If a Referrer’s own transaction volume in a particular month is less than all his/her direct Referrals’ average, the actual receivable commission will be discounted proportionally. E.g. If the Referrals' average fee contribution is 20J and the Referrer's own contribution is just 10J in that month, the receivable Commission will be discounted by (10/20) = 0.5.

Why is there a 12-character EOS Account Name ?

Joule is built on the EOS blockchain. The 12-character Account Name is a user-friendly way for transfering tokens between the crypto wallets.

I have forgotten my Private Key. Can you help me retrieve it?

No, sorry. For security, the system does not store private keys. On the blockchain, only yourself can access your private key, so please store it carefully, both online and offline.

I have some more questions, where can I get help?

You could consult your Referrer or join our telegram channel: t.me/jouleindex.