Bitcoin News and Finance
Bitcoin․com Completes VERSE $50M Token Sale, Launches Token on Verse DEX Skip to main content

Bitcoin․com Completes VERSE $50M Token Sale, Launches Token on Verse DEX

Bitcoin.com, a digital ecosystem and secure self-custody platform where users can safely and easily interact with cryptocurrencies and digital assets, announced completion of the pre-sale of its rewards and utility token VERSE, where 16% of the total supply was purchased for $50 million.

Bitcoin.com also announced the launch of VERSE trading on its decentralized exchange, the Verse DEX, starting at 00:30 UTC on Dec 8. The initial listing price will be $0.0015 per VERSE.

“The success of the Verse token sale despite severe bear market conditions is a testament to the quality of Bitcoin.com’s ecosystem token,” said Bitcoin.com CEO Dennis Jarvis. “I have no doubt that Verse will supercharge Bitcoin.com’s mission to create economic freedom by helping to onboard millions more people to Bitcoin and decentralized finance where they can take advantage of the benefits enabled by self-custody, transparency, and censorship resistance.”

The VERSE token will provide utility in Bitcoin.com’s ecosystem, which includes over 35 million self-custody wallets created in its multi-chain DeFi-ready mobile app, and an award-winning news portal with over 2.5 million monthly readers.

Verse will also act as a rewards mechanism to encourage positive actions such as taking self-custody of assets. For example, the Bitcoin.com team launched in November its CEX Education Program that will reward people affected by centralized crypto company insolvencies while encouraging the adoption of decentralized finance and self-custody. Five percent of the total VERSE token supply is dedicated to the program.

Verse additionally refers to an ecosystem of decentralized applications (DApps) that will guide millions of people on their journey beyond Bitcoin, including into decentralized finance (DeFi), one of the fastest-growing verticals in Web3 today. In that regard, the Bitcoin.com team launched the Verse Development Fund which will accelerate growth and innovation in Bitcoin.com’s Verse ecosystem while empowering projects that embody Bitcoin.com’s ethos of economic freedom and democratized finance. Thirty-four per cent of the VERSE token supply is allocated to the Verse Development Fund with tokens being made available to the fund on a block-by-block basis linearly over seven years.

Developers contributing to Verse through programs enabled by the Verse Development Fund will have access to Chainlink’s price feeds, random number generator, and smart contract automation tools thanks to a partnership between Bitcoin.com and the industry-standard Web3 services platform.

Other strategic buyers in the pre-sale of Bitcoin.com’s VERSE token include Digital Strategies, Blockchain.com, Kucoin Ventures, Redwood City Ventures, Boostx Ventures, and Poly Network.

Bitcoin.com’s Dennis Jarvis added, “The wide range of participants in the Verse token sale means Bitcoin.com can leverage quality networks, infrastructure, and tooling to ensure the Verse ecosystem thrives. Ultimately this will mean more opportunities for people to benefit from the power of decentralized finance.”

 

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory