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. 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?

Joule is a by-referral-only service. Please ask an existing user to “Invite” you by your email address. Join our online communities to find out more.

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. "Reserves": 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?

You can buy Joule tokens in-app with Paypal or credit cards. You can also buy Joule with Bitcoin, Ether or USDT on these crypto exchanges: BW.com.

Is Joule token listed on any crypto exchanges?

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.
When you “PAY” Joule tokens to a business, the business will contribute 2% fees, in which one-fifth will be rewarded to each eligible Referrer. This commission is calculated separately from Joule Index trading above.

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.
Similarly, for PAY commission, the discount factor is calculated separately.

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

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