What Is BIT?
Biconomy Token (BIT) - is the native token of the cryptocurrency exchange Biconomy.com. Since this is a token of our community and created for community benefits, we made sure that our community has the most favorable conditions and commissions for transfers of the BIT Token. BIT’s value is in part reliant upon the reputation of the Biconomy crypto exchange, yet other factors also have an impact.
We want BIT token holders to have direct benefits from working with Biconomy exchange, therefore we offer the following utilities of the BIT token, which will allow it to become a reliable and stable asset.
● For Biconomy exchange's currency transaction operation fees, 50% will be used to repurchase and burn BIT tokens - this will curb inflation, and 50% will be airdropped to token holders in the form of USDT; ● 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, reducing the threshold for users to participate in the first-level investment;
● 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
● BIT adopts a deflationary model: each transaction charges a 6% tax, and all is transferred to the black hole address for destruction.
Issue date: 6/09/2021
Total supply: 1,000,000,000,000
Project website: https://www.biconomy.com/
White paper: https://biconomy.com/whitepaper/english.pdf
Block explorer: https://bscscan.com/address/0xc864019047B864B6ab609a968ae2725DFaee808A