Blockchain
Biconomy Exchange Native BIT Token Announces Burning and the Payment of Dividends to Holders
Ottawa, Ontario–(Newsfile Corp. – February 8, 2022) – BIT Token announces a burn and payment of dividends to holders. The Biconomy Exchange is a Canadian-registered digital asset exchange that has been on the market since 2019. The exchange has a SMB license for the US and Canadian markets, headquarters in Ottawa, with offices in the UK, South Korea, Japan, and Russia. The exchange has more than 300k registered users and more than 200k active members of the community. In September 2021, to implement a new round of development, the exchange launched its native BIT token, which serves as a tool to attract the community, new users of the exchange, and also provides unique rights and bonuses for BIT token holders.
On January 31, 2022, the first manual burning of BIT tokens took place, the plan of which is written in the whitepaper of the token. According to it, every quarter the exchange will spend 50% of the profits from commissions on the redemption and burning of its own token. As a result of the first burn, 2% of the total number of tokens were burned, and the amount of burning was 20 Billion tokens – in the amount of $600,000 at the token exchange rate at the time of burning.
The BIT token is a unique exchange token, in its architecture it also has a deflationary model – according to it, there is a 6% tax, 4% goes to burning, and 2% is distributed to all wallets. As a result, more than 20% of the total number of tokens have already been burned using this model in 5 months. Manual burning of BIT tokens also has a positive effect on the economic model of the token and its development.
In addition, the uniqueness of the Biconomy exchange lies in the fact that it pays dividends in USDT to holders of its native BIT token. On February 7, these dividends were paid out and all users who stored BIT tokens on the exchange received + 5% profit in USDT to the amount of their BIT tokens in hold. These dividends are also paid out of the profits of the exchange and also quarterly.
https://coinmarketcap.com/currencies/biconomy-token/
https://coinmarketcap.com/exchanges/biconomy/
Diane Magince
[email protected]
Disclaimer – This article is not intended to be a source of investment, financial, technical, tax, or legal advice. All of this content is for informational purposes only. Readers should do their own research. SurgeSocials is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by reliance on any information mentioned in this article.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113147
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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