press release
The Bitcoin.com Team is excited to announce Verse, a rewards and utility token for the Bitcoin.com ecosystem.
Since 2015, Bitcoin.com has served as a reliable gateway to Bitcoin and beyond, providing timely and objective news content and educational materials, the most secure and easy-to-use non-custodial multicoin wallet, accessible bridges between fiat and crypto, and much more.
“With 29 million wallets created and over five million monthly active users, it is time to launch a mechanism to reward the Bitcoin.com community for buying, selling, spending, swapping, investing, and staying informed about crypto – and that mechanism is Verse,” said Bitcoin.com CEO Dennis Jarvis.
Verse will be a cross-chain token built on the ERC-20 standard with a focus on expanding into low-fee, EVM-compatible chains.
Sixty-nine percent of Verse tokens are reserved for the community in the form of a development fund and ecosystem incentives and rewards. The latter includes staking rewards, airdrops, yield for liquidity providers on the soon to be launched Verse DEX, and more. These incentive tokens will unlock on a block-by-block basis over seven years from a fixed supply of 210 billion.
The allocation of tokens and the emissions schedule are designed to optimize network effects and demand for the token while buyback and burn, staking, and other mechanisms work to decrease the circulating supply over time.
Anyone will be able to earn Verse tokens simply by using Bitcoin.com’s beginner-friendly products and services. Holders of Verse tokens will in turn be able to unlock extra rewards and discounts along multiple tiers. By unlocking additional utility throughout the user journey, Verse creates a powerful loyalty mechanism that works to drive retention in the Bitcoin.com ecosystem.
Anyone can also deploy VERSE and other cryptoassets in liquidity pools on the Verse DEX to earn a share of trading fees, and additional rewards are available for staking VERSE and LP tokens. Given that many of Bitcoin.com’s users will not yet have had the opportunity to interact with tokens that have such utility, Verse will serve as an important onramp to decentralized finance for newcomers.
“By introducing more people to DeFi – where they can deploy their assets permissionlessly and benefit from a growing range of high-yield opportunities – Verse empowers us in our mission to create more economic freedom in the world,” added Jarvis.
With development of the token and its integration into Bitcoin.com’s suite of products and services already well underway, a portion of Verse tokens are reserved for sale at getverse.com. Token sale details will be announced in the coming weeks.
“By offering Verse in a public sale, we are providing early access to a token with broad utility while at the same time empowering people to join Bitcoin.com, a brand with universal recognition, robust fundamentals, and one of the fastest growing ecosystems in crypto.”
Disclaimer: The information shown does not constitute investment advice. VERSE tokens are utility tokens designed for use on Bitcoin.com. VERSE tokens are not shares, bonds, units in a collective investment scheme, securities, or other instruments commonly known as securities of any type. VERSE tokens are not being offered for sale to U.S. persons and are not available for purchase in the United States, Japan, or any other restricted jurisdictions as may be specified by Bitcoin.com, from time to time.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
