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About Biconomy Exchange Token
Key Points:
- BIT is a decentralized digital asset based on the Binance Smart Chain and is BEP20 compliant.
- BIT token’s value is reliant on the reputation of the Biconomy crypto exchange and other factors.
- BIT token holders can reduce commissions for trading operations, purchase monthly VIP-status plans, vote on exchange decisions, and receive crypto rewards.
- BIT adopts a deflationary model with a 6% tax on each transaction, which is burned.
- 50% of Biconomy exchange’s currency transaction operation fees will be used to repurchase and burn BIT tokens.
- BIT token holders will have special trading commission conditions on the Bicon
Introducing the Biconomy Exchange Token: A New Era in Cryptocurrency Trading
Introducing Biconomy Token (BIT): A Comprehensive Overview
BIT is a decentralized digital asset built upon the Binance Smart Chain, adhering to the BEP20 standard. The BIT Token is specifically designed to benefit the community, with Biconomy ensuring that users enjoy the most favorable terms and commissions when transferring the token.
The value of BIT is partially contingent upon the reputation of the Biconomy crypto exchange, but it is also influenced by other factors. The creation of the BIT token was driven by the desire to foster greater community engagement on the exchange, granting the international community the freedom to participate in the exchange’s activities and receive rewards for doing so. The BIT token exemplifies the currency of the future economy, where each user wields decision-making power, voting for initiatives that align with their personal interests, ultimately benefiting the majority. By having its own token, Biconomy can develop a flexible marketing strategy to attract new users and further expand its platform. A key function of the token is to reduce trading commissions on the exchange, typically deducted from users’ wallets. However, the token offers a multitude of benefits. With BIT, users can purchase monthly VIP-status plans, enjoying discounts on transaction fees. Token holders are also granted voting rights on exchange decisions, eligible to receive crypto rewards for seasonal buybacks, and gain early access to exclusive events. Furthermore, BIT holders can trade the token for other cryptocurrencies at their discretion.
Unveiling the Unparalleled Characteristics of Biconomy Token (BIT)
We aim to empower BIT token holders by providing them with tangible benefits through our collaboration with Biconomy exchange. To achieve this, we have designed the following utilities for the BIT token, ultimately enhancing its reliability and stability as a valuable asset.
BIT Embraces a Deflationary Paradigm: Every Transaction Incurs a 6% Levy,
A total of 6% is allocated for burning purposes, which is subsequently transferred to the black hole address. For further information, please refer to
this link
.
For Biconomy exchange’s currency transaction operation fees, 50% will be allocated
A portion of the revenue is allocated to repurchase and burn BIT tokens, thereby mitigating inflationary pressures.
BIT Token Holders to Enjoy Preferential Trading Commission Rates on the
The Biconomy exchange, contingent upon the quantity of tokens held in reserve, will operate accordingly.
Holding BIT tokens presents an opportunity to acquire a stake in high-
Notable blockchain projects backed by the Biconomy Foundation, lowering the barriers for users to engage in premier investment opportunities;
Contract Provisions:
A portion of the revenue generated from the contract will be allocated towards the repurchase and subsequent burning of BIT tokens.
Follow-up Plan Use Case: BIT to be Integrated into Smart Chain, DEX, and NFT Ecosystems
Other potential offerings of Biconomy
The BIT Token Economy: A Comprehensive Overview
The total supply of BIT tokens is capped at 1,000 billion units.
Technical Team: 20%
A 5% allocation will be unlocked one year post-launch, with the remaining balance to be released over a four-year period. These funds are earmarked for the development of innovative products on the exchange, ultimately enhancing the trading experience for our users by providing a more comfortable and profitable environment.
Marketing Promotion: 6%
Tokens remain unlocked, catering to the perpetual marketing requirements. The exchange team exercises discretion in allocating funds as needed.
Early Investors: 10%
5% will be released after a 6-month lock-up period, with an additional 5% unlocked after 12 months.
These tokens are earmarked for early investors, strategic investors, and funds, providing them with a unique opportunity to participate in our project’s growth.
The liquidity pool accounts for a substantial 64%.
The BIT contract can be accessed at:
https://bscscan.com/token/0xc864019047b864b6ab609a968ae2725dfaee808a
, where users can explore its details.