Bitcoin.com, a digital ecosystem and safe self-custody platform the place customers can safely and simply work together with cryptocurrencies and digital property, introduced completion of the pre-sale of its rewards and utility token VERSE, the place 16% of the overall provide was bought for $50 million.
Bitcoin.com additionally introduced the launch of VERSE buying and selling on its decentralized trade, the Verse DEX, beginning at 00:30 UTC on Dec 8. The preliminary itemizing worth will likely be $0.0015 per VERSE.
“The success of the Verse token sale regardless of extreme bear market circumstances is a testomony to the standard of Bitcoin.com’s ecosystem token,” mentioned Bitcoin.com CEO Dennis Jarvis. “I’ve little doubt that Verse will supercharge Bitcoin.com’s mission to create financial freedom by serving to to onboard thousands and thousands extra individuals to Bitcoin and decentralized finance the place they’ll benefit from the advantages enabled by self-custody, transparency, and censorship resistance.”
The VERSE token will present utility in Bitcoin.com’s ecosystem, which incorporates over 35 million self-custody wallets created in its multi-chain DeFi-ready cell app, and an award-winning information portal with over 2.5 million month-to-month readers.
Verse can even act as a rewards mechanism to encourage constructive actions similar to taking self-custody of property. For instance, the Bitcoin.com group launched in November its CEX Education Program that can reward individuals affected by centralized crypto firm insolvencies whereas encouraging the adoption of decentralized finance and self-custody. 5 % of the overall VERSE token provide is devoted to this system.
Verse moreover refers to an ecosystem of decentralized purposes (DApps) that can information thousands and thousands of individuals on their journey past Bitcoin, together with into decentralized finance (DeFi), one of many fastest-growing verticals in Web3 immediately. In that regard, the Bitcoin.com group launched the Verse Development Fund which is able to speed up progress and innovation in Bitcoin.com’s Verse ecosystem whereas empowering initiatives that embody Bitcoin.com’s ethos of financial freedom and democratized finance. Thirty-four per cent of the VERSE token provide is allotted to the Verse Growth Fund with tokens being made accessible to the fund on a block-by-block foundation linearly over seven years.
Builders contributing to Verse by packages enabled by the Verse Growth Fund could have entry to Chainlink’s worth feeds, random quantity generator, and good contract automation instruments due to a partnership between Bitcoin.com and the industry-standard Web3 providers platform.
Different strategic consumers within the pre-sale of Bitcoin.com’s VERSE token embody Digital Methods, Blockchain.com, Kucoin Ventures, Redwood Metropolis Ventures, Boostx Ventures, and Poly Community.
Bitcoin.com’s Dennis Jarvis added, “The big selection of members within the Verse token sale means Bitcoin.com can leverage high quality networks, infrastructure, and tooling to make sure the Verse ecosystem thrives. Finally it will imply extra alternatives for individuals to profit from the ability of decentralized finance.”
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