Introducing Verse: Native Token of the Bitcoin.com Ecosystem

  • May 3, 2022
  • 61 Views

Bitcoin.com is one of the fastest-growing places for key news sources and advanced features for both novice and experienced traders.

Many useful cryptocurrency platforms are available, but just a few provide a one-stop shop for both veterans and newcomers.

They recently announced the launch of Verse: a rewards and utility token distributed to users who contribute to and participate in the Bitcoin.com ecosystem.

Bitcoin.com At A Glance

Bitcoin.com started its journey in 2008, setting up its initial foundation, and the platform officially went live in 2015 as a cryptocurrency news and information portal.

The long established site has since developed significantly, with the integration of its own wallet and financial services.

Bitcoin.com is dedicated to creating economic freedom in a way that brings long term benefits to people.

With this goal, the team’s offerings and products are user-oriented. Bitcoin.com always stands in a neutral position to provide the most useful sources, guides and products to readers and users.

The Bitcoin.com team has always firmly believed in exponential growth, the core of cryptocurrency and its ability to become an integral part of later life.

With the value provided, Bitcoin.com aims to become the most complete educational and news channel about the cryptocurrency market as well as the best crypto services providers.

The project management team of Bitcoin.com are all knowledgeable and experienced in the market.

Besides, it believes in the inevitable development of cryptocurrencies, blockchain technology and the essential role of them in economic freedom.

VERSE Token: Key Power Of Bitcoin.com and VERSE Ecosystem

VERSE token is the native token of the Bitcoin.com ecosystem, maily used to reward the community’s contributions to the network including buying, selling, spending, swapping, and investing.

Another major goal of VERSE is to power the application when making crypto payments. The team launched VERSE to pay homage to its users.

Bitcoin.com has now over 30 million wallets created and over five million active users per month. The ERC-20 standard token aims to optimize exchange across EVM-compatible chains at the lowest possible cost.

The total supply of VERSE tokens is 210 billion, which are set to be minted at the time of launch and unlocked over a period of up to seven years after that.

To achieve a consistent distribution of tokens into the market, tokens are unlocked incrementally and continuously on a block-by-block basis, rather than in a batch.

Token Distribution

In terms of token distribution, 35% of tokens will be distributed to LP rewards, which will be achieved through yield farming, staking rewards, airdrops, and other ecosystem-based incentive programs.

This set of tokens will be unlocked in stages, one at a time, block by block, over the course of seven years.

Next, 34% of tokens will be used for Verse’s infrastructure growth, community engagement, market expansion, and deflationary supply mechanisms.

The unlocking timeline is similar to one of the LP reward distributions.

The founding team and the project’s non-founding members grant 15% of tokens. These tokens will be unlocked incrementally on a block-by-block basis over a period of four years, starting with the first block.

10 percent of tokens will be sold in Verse sale A and will be unlocked over the course of a year, block by block. In Verse auction B, 6 percent of tokens will be sold and unlocked over an 18-month period.

Verse ecosystem will spend a portion of all fees generated to buyback and burn VERSE.

All buybacks and subsequent burning will be tracked on the blockchain. Users can stake unlocked VERSE tokens in the Verse Staking Contract for rewards.

The staking method and incentive payout amount will be applied to manage the overall circulating supply.

Token Utility

Users can acquire VERSE and use it by participating in one or more activities on the Bitcoin.com ecosystem.

The community can become liquidity providers by depositing cryptocurrencies on the Verse DEX in exchange for a portion of the DEX trading fees, or by yielding LP tokens in exchange for additional VERSE token bonuses.

VERSE can be used as a means of exchange on the Verse DEX and the Bitcoin.com Exchange, as well as a payment option for press releases, media activities, and Verse products at a discount.

After the launch, the token’s utility and benefits will be expanded.

Users can stake in order to raise profit. Staking contracts with Verse allow parties to claim rewards based on the number of tokens staked over time.

The Bitcoin.com Card also allows users to spend in order to earn. VERSE incentives for retailers and customers who use Bitcoin.com’s Bitcoin Cash Register Gift cards.

Other fascinating programs include paybacks for lending or using VERSE as collateral, referring reward programs, NFT trading, and content contributor rewards.

Bitcoin.com Core Features

Bitcoin.com offers its users a range of great tools. Let’s have a look!

App

Unlike the news and information site, Bitcoin.com app provides an extensive user experience.

The mobile-enabled and web-enabled platform gives access to latest crypto asset updates, wallet management, market breakdown, news sources and features of selling, buying and exchanging.

News

Started as a news site, Bitcoin.com is one of the news sites that attracts the attention of a large number of investors as well as those who want to learn about the cryptocurrency market around the world.

The platform is a leading independent news site, providing the latest knowledge and news on Bitcoin, blockchain, technical analysis as well as emerging fintech trends of the cryptocurrency market.

Based on a passion for cryptocurrencies and decentralized finance trends, news and guides are compiled by Bitcoin.com accurately and without bias.

Each article offers in-depth analysis and comments of many experts along with clear and detailed analysis charts.

In addition, The platform provides periodic reports on the transformation of society under the influence of cryptocurrencies and decentralized finance.

Verse DEX

Verse DEX, together with VERSE token, is part of the Bitcoin.com ecosystem. Verse DEX functions as a type of cryptocurrency exchange built and operated in a decentralized manner.

It allows trading to be done peer-to-peer on the network without going through any intermediary organizations.

Participants can earn trading incentives by contributing to liquidity pools or generate extra bonuses by staking their LP tokens.

Wallet

The non-custodial wallet has a user-friendly interface, helping users to easily manage and track digital assets.

Users can directly interact with assets stored on the blockchain.

The outstanding advantage of the non-custodial wallet is its security, providing an instant experience while supporting users with full management.
With a non-custodial system, users do not need to perform authentication through third parties at all.

All transactions are therefore almost instantaneous, with faster speed compared to the custodial transfer method.

Non-custodial wallet users are not reliant on third parties. When you need to transfer money to the exchange or to another wallet address, you only need to do it in a few simple steps.

Bitcoin.com Exchange

The Bitcoin.com exchange is not only supporting a variety of cryptocurrencies, but also offers quality crypto trading services.

By joining the ecosystem, users are given access to over 40 spot markets and more than 30 perpetual and future pairs, with a full suite of advanced trading tools.

You can also get rewards up to 20% for each referral trade.

Check out more at Verse by clicking right here, or read the whitepaper here.

The post Introducing Verse: Native Token of the Bitcoin.com Ecosystem appeared first on Blockonomi.

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