Toronto, Canada, Sept. 06, 2021 The cryptocurrency market is constantly evolving and new crypto assets are continually entering the market. However, very own tokens of cryptocurrency exchanges on the market are rare and they have high potential and growth prospects due to the development of the exchanges themselves.
“Biconomy is a Canadian cryptocurrency exchange founded in 2019 with headquarter in Canada and representative offices in the UK, Russia and the CIS, South Korea, Japan. The exchange provides professional and secure trading experience to 300K+ registered crypto traders spread around the world through its quality and comprehensive cryptocurrency products and services. ”
So now, a new official token from the Canadian cryptocurrency exchange Biсonomy.com with the BIT symbol is entering the public market. The BIT token has a very large list of its use cases and benefits, which makes it a very promising asset for investment.
In order to form a sufficient global community, Biconomy exchange organized a massive $50,000 prize airdrop on the leading crypto asset tracking platform Coinmarketcap.
To receive the BIT token for free, crypto investors need to complete simple tasks specified in the airdrop conditions. The airdrop will last for 20 days – there is enough time to take part and the award of $50,000 will be shared by 10,000 winners.
Moreover, the token will start public trading and will become available to investors from all over the world on the PancakeSwap platform on 6th September，2021.
What is the BIT Token and why is it needed?
Biconomy Token – BIT, is the native token of the Biconomy.com cryptocurrency exchange. It is a decentralized digital asset based on the BSC and is BEP20 compliant. BIT’s value is in part reliant upon the reputation of the Biconomy crypto exchange, yet other factors also have an impact.
BIT token holders to have direct benefits from working with Biconomy exchange, offering the following utilities of the BIT token, which will allow it to become a reliable and stable asset:
● For exchange’s currency transaction operation fees, 50% will be used to repurchase and burn BIT tokens — this will curb inflation, 50% will be airdropped to token holders in the form of USDT
● BIT adopts a deflationary model: each transaction charges a 6% tax, 4% of which is transferred for destruction, and 2% is allocated to the wallet with currency
● BIT token holders will have special trading commission conditions on the Biconomy exchange, which will depend on the number of tokens on hold
● Holding BIT tokens offers the opportunity to obtain the share of high-quality blockchain projects invested by the Biconomy Foundation
● Contract section: Biconomy expects to launch the contract section in the fourth quarter of 2021, and the corresponding part of the income will be used to repurchase and burn BIT
● Follow-up plan use case: BIT will be applied to smart chain, DEX, NFT, and other potential products of Biconomy.
Dmitriy Sheludko, CEO at Biconomy exchange, commented:
“We are confident that the BIT token model and protocol would be a great addition to Biconomy exchange as well as the whole cryptocurrency market.
As more people become involved in crypto trading, Biconomy will benefit and grow along with the industry. It also provides a compelling loyalty and rewards scheme that will position it well in an increasingly competitive crypto exchange industry.
The reason for the creation of the BIT token was the desire to increase the involvement of people in using the exchange, to give the international community of the exchange the right to freely participate in the life of the exchange and its activities, and to receive bonuses for this.
Many exchanges have created their own tokens, but they are not involved in the life of the exchange in any way and do not have their own ecosystem and utilities.
The BIT token has a very wide range of applications and we will constantly work to increase the areas where the token will be used.”
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Name: Dmitriy Sheludko, CEO of Biconomy.com
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