Skip to main content

Bitcoin․com to Launch Utility and Rewards Token

The Bitcoin.com Team is excited to announce Verse, a rewards and utility token for the Bitcoin.com ecosystem.

Since 2015, Bitcoin.com has served as a reliable gateway to Bitcoin and beyond, providing timely and objective news content and educational materials, the most secure and easy-to-use non-custodial multicoin wallet, accessible bridges between fiat and crypto, and much more.

“With 29 million wallets created and over five million monthly active users, it is time to launch a mechanism to reward the Bitcoin.com community for buying, selling, spending, swapping, investing, and staying informed about crypto – and that mechanism is Verse,” said Bitcoin.com CEO Dennis Jarvis.

Verse will be a cross-chain token built on the ERC-20 standard with a focus on expanding into low-fee, EVM-compatible chains.

Sixty-nine percent of Verse tokens are reserved for the community in the form of a development fund and ecosystem incentives and rewards. The latter includes staking rewards, airdrops, yield for liquidity providers on the soon to be launched Verse DEX, and more. These incentive tokens will unlock on a block-by-block basis over seven years from a fixed supply of 210 billion.

The allocation of tokens and the emissions schedule are designed to optimize network effects and demand for the token while buyback and burn, staking, and other mechanisms work to decrease the circulating supply over time.

Anyone will be able to earn Verse tokens simply by using Bitcoin.com’s beginner-friendly products and services. Holders of Verse tokens will in turn be able to unlock extra rewards and discounts along multiple tiers. By unlocking additional utility throughout the user journey, Verse creates a powerful loyalty mechanism that works to drive retention in the Bitcoin.com ecosystem.

Anyone can also deploy VERSE and other cryptoassets in liquidity pools on the Verse DEX to earn a share of trading fees, and additional rewards are available for staking VERSE and LP tokens. Given that many of Bitcoin.com’s users will not yet have had the opportunity to interact with tokens that have such utility, Verse will serve as an important onramp to decentralized finance for newcomers.

“By introducing more people to DeFi – where they can deploy their assets permissionlessly and benefit from a growing range of high-yield opportunities – Verse empowers us in our mission to create more economic freedom in the world,” added Jarvis.

With development of the token and its integration into Bitcoin.com’s suite of products and services already well underway, a portion of Verse tokens are reserved for sale at getverse.com. Token sale details will be announced in the coming weeks.

“By offering Verse in a public sale, we are providing early access to a token with broad utility while at the same time empowering people to join Bitcoin.com, a brand with universal recognition, robust fundamentals, and one of the fastest growing ecosystems in crypto.”

 

Disclaimer: The information shown does not constitute investment advice. VERSE tokens are utility tokens designed for use on Bitcoin.com. VERSE tokens are not shares, bonds, units in a collective investment scheme, securities, or other instruments commonly known as securities of any type. VERSE tokens are not being offered for sale to U.S. persons and are not available for purchase in the United States, Japan, or any other restricted jurisdictions as may be specified by Bitcoin.com, from time to time.

 



from Bitcoin News https://ift.tt/lB452xq
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more