Bithumb Coin has been officially launched by Bithumb Global as the native token of the exchange’s custom blockchain dubbed Bithumb Chain.
Premier global digital asset exchange Bithumb global has made public the unique and highly anticipated crypto asset Bithumb Coin (BT) which serves as the native token for the new Bithumb Chain. The Chain is said to be launched in Q1 2020.
Holding the ticker name of BT, the token will be used in many different kinds and types of transactions within a wide variety of utilities and situations.
What is Bithumb Coin?
Based on open-source code, Bithumb Chain is the framework that serves as the engine for everything within the scope of Bithumbs’ products and services. New features have been added to Bithumb Chain to extend the immense power that the blockchain delivers to many clients which include exchange-as-a-service (EaaS) which enabled distribution of gains via a profit-sharing protocol (PSP).
As such, Bithumb Coin (BT) transfers rewards and improves the computational calculations which enhance the blockchain. The rule that enables BT to allow the smooth flow of gains, profits savings and transfer of value in an inclusive environment for the progress of the members of the Bithumb Family.
The allocation of tokens has been executed in a unique way. 30% is used for user rewards while 30% is used for trading rewards the criteria of which are yet to be determined. The multi-functional scenarios of utility, handling, and usage together with commissions on turnover and other fees attached to transactions are also included as well. The Bithhumb Chain platform is built in such a way that transactions involving future products fit within the current infrastructural framework.
Rewards for the lease of tokens is also a future that defines the strategic value of BT as an asset class. Users are also allowed to weight in on the decision making process of Bithumb as an organization creating an egalitarian basis for the operation of the organization and the Bithumb global ecosystem itself. From nomination to project listing and so on, users can track the progress and the impact of their decisions in an open transparent way and manner.
To enhance the development of the Bithumb Coin and also to improve the features of the Bithumb Chain, 25% of the tokens available are reserved for this.
Token buyback at 50% of revenues is the preferred mechanism of choice for token control with an ultimate target of 150 million Bithumb Coins. This will improve the equilibrium of tokens and maintain the financial space that the Bithumb community occupies strategically.
Bithumb Global: A brief primer
Bithumb Korea has a 75.7 % in-country trading volume which corresponds with about 15% of the global markets. The ecosystem of 8 million people within the Bithumb community can attest to the huge volumes of liquidity that exist within the system.
As the global platform of Bithumb Korea, Bithumb Global enables users the world over to have access to one of the most prestigious and active cryptocurrency trading platforms globally with average total volumes of over $1 trillion.