Dear Biconomy exchange users and $BIT Token holders!
We are delighted to announce about first manual buy-back burning of the $BIT Token in the amount of 20,000,000,000 BIT - 2% of the Total $BIT Supply.
Here are the facts and figures behind $BIT Token's first manual Buy-Back and Burn:
- Total BIT burned: 20,000,000,000 $BIT
- 2% of the Total 1,000,000,000,000 $BIT Supply Burned now.
- Transaction ID (TXID) for $BIT burn: View Transactions - 1 , 2 , 3 , 4
- Burning occurred through partial buy-back of $BIT Tokens from the market.
Congratulations to $BIT Token holders and our entire community on this amazing event!
What You Need to Know about $BIT Burning Plans:
There are three ways to burn the $BIT token.
1 Method. Manual burning, which takes place every quarter, is carried out by the method of full or partial buyback of $BIT tokens from the market. This is done by using 50 percent of the profits earned by the exchange.
Method 2. Deflationary model. This is the automatic burning of the $BIT Token, prescribed in its smart contract. This is the fastest and most efficient method of burning since any on-chain $BIT transaction is taxed at 6% and the entire amount is immediately burned.
Method 3. Additional burning from the profits.
After the launch of futures trading on the exchange, we also intend to direct 50% of the profits received to the additional burning of $BIT tokens.
This burn will be added to the manual quarterly burn.
These burning methods were created from the very beginning to ensure the deflation of the token and increase its useful utility properties, the stability of the development of the economic model of the $BIT Token.
This means that holders of $BIT tokens will have not just a token in their hands, but will be able to participate in a full-fledged cryptocurrency market with a huge future and growth potential.
Risk warning: Cryptocurrency investment is subject to high market risk. Please make your investments cautiously. Biconomy will make its best efforts to choose high-quality coins, but will not be responsible for your investment losses.
Thanks for your support!
2022 - 01 - 31
Biconomy reserves the right to amend change or cancel this announcement at any time and for any reason in its sole discretion and without notice. The above content is for informational purposes only and Biconomy does not make any recommendation or guarantee for any digital assets, products, or promotions on Biconomy. The price of digital assets fluctuates wildly, and there are risks in digital asset transactions.