Bithumb Global, one of the leading international cryptocurrency exchanges, announces the launch of the long-awaited cryptocurrency Bithumb Coin (BT), the native token of the recently launched Bithumb Chain network.
According to the exchange representatives, the token will allow transactions in the Bithumb Global network, developed by world-class professionals in the field of IT, security, cryptography, and finance, opening the door to many real-life applications.
What is Bithumb Coin?
The Bithumb Chain is an open-source decentralized protocol that enables the functioning of the products, services, and infrastructure of the Bithumb Family ecosystem, allowing the value transfer at all stages of trading business. To facilitate the development of the ecosystem infrastructure of the Bithumb Chain, Bithumb Family offers many new technologies in the blockchain network, including the EaaS (Exchange-as-a-Service), which is a unique Profit Sharing Protocol (PSP). The Exchange-as-a-Service allows users to access the service in one click, adding Bithumb Coin to this structure to motivate users.
Bithumb Coin (BT) allows transactions on the Bithumb Chain network and provides the necessary mechanisms to facilitate motivation and value within the protocol. The basic principle of the Bithumb Coin (BT) mechanism is to increase the exchange of values in Bithumb Family, which contributes to the sustainable development of the ecosystem.
The tokens are distributed as follows: 30% of tokens are sent to the motivational pool of users, another 30% are distributed to motivate traders using the point system, which will be announced later. Besides the coin is used internally as follows: to process transaction fees in the Bithumb Global network, to use the network system and pay transaction fees on the Bithumb Global platform, and to pay for new products in the future. Users can also rent their BT to receive rewards through the leasing contract system.
Moreover, BT owners can vote and participate in the management of the Bithumb Chain network, including nominations for project listings. In fact, the Bithumb Chain ecosystem members not only participate in the creation and determination of the network's development vector but also make investment decisions for the Bithumb Chain. Also, for example, BT gives token holders privileges in the marketing activities of the platform, including additional bets in BG Staging and additional return on investment when participating in token bets. Other advantages of BT possession include participation in events such as the fair distribution of tokens. The developers have provided many benefits for BT token holders.
The connection between Bithumb Coin (BT) and the Bithumb Chain
25% of BT tokens are allocated to the development of the network and its stability. The relationship between the Bithumb Chain network and BT can be described by the analogy of a smart blockchain city. The Bithumb Chain would be a city block, the members of the Bithumb Family would represent separate city structures, and the Bithumb Coin (BT) would be a transport infrastructure connecting the various structures of the block. For example, BT holders can invest a certain number of tokens in becoming a common node on the Bithumb Global platform and regularly participate in listing nominations in the Bithumb Family.
50% of the platform’s profit will be used to buy BT back until there are 150 million tokens left. Bithumb Coin (BT) will become a facilitator of values and information exchange within the Bithumb Chain network, thus contributing to the sustainable development of all products, platforms, and services of the network.
The Korean division Bithumb Korea is one of the largest bitcoin exchanges in the world with a daily trading volume of 75.7% of the bitcoin market in South Korea and 15% of the global bitcoin market. With user-friendliness, a digital ecosystem with an impenetrable cybersecurity system and powerful liquidity, BT has a great future with 8 million Bithumb Family traders who already use the ecosystem.
The issue of Bithumb Coin will be limited to only 300 million tokens. Project details are available on the site.
Bithumb Global is the global division of Bithumb Korea, one of the leading cryptocurrency exchanges in the world with a combined total transaction volume exceeding $1 trillion. The purpose of Bithumb Global is to open opportunities for any user from anywhere in the world to easily trade, participate and invest in an ecosystem of digital currencies.
Bithumb Global aims to become a user-friendly ecosystem of digital assets with tight international security and high liquidity. More information about Bithumb Global is available at www.bithumb.pro