Bitcoin․com Completes VERSE $50M Token Sale, Launches Token on Verse DEX – Press release Bitcoin News

Bitcoin.com, a digital ecosystem and safe self-custody platform the place customers can safely and simply work together with cryptocurrencies and digital belongings, introduced completion of the pre-sale of its rewards and utility token VERSE, the place 16% of the overall provide was bought for $50 million.

Bitcoin.com additionally introduced the launch of VERSE buying and selling on its decentralized change, the Verse DEX, beginning at 00:30 UTC on Dec 8. The preliminary itemizing value will probably be $0.0015 per VERSE.

“The success of the Verse token sale regardless of extreme bear market circumstances is a testomony to the standard of Bitcoin.com’s ecosystem token,” mentioned Bitcoin.com CEO Dennis Jarvis. “I’ve little question that Verse will supercharge Bitcoin.com’s mission to create financial freedom by serving to to onboard hundreds of thousands extra individuals to Bitcoin and decentralized finance the place they’ll make the most of the advantages enabled by self-custody, transparency, and censorship resistance.”

The VERSE token will present utility in Bitcoin.com’s ecosystem, which incorporates over 35 million self-custody wallets created in its multi-chain DeFi-ready cell app, and an award-winning information portal with over 2.5 million month-to-month readers.

Verse may also act as a rewards mechanism to encourage constructive actions similar to taking self-custody of belongings. For instance, the Bitcoin.com crew launched in November its CEX Education Program that can reward individuals affected by centralized crypto firm insolvencies whereas encouraging the adoption of decentralized finance and self-custody. 5 % of the overall VERSE token provide is devoted to this system.

Verse moreover refers to an ecosystem of decentralized functions (DApps) that can information hundreds of thousands of individuals on their journey past Bitcoin, together with into decentralized finance (DeFi), one of many fastest-growing verticals in Web3 immediately. In that regard, the Bitcoin.com crew launched the Verse Development Fund which can speed up development and innovation in Bitcoin.com’s Verse ecosystem whereas empowering tasks that embody Bitcoin.com’s ethos of financial freedom and democratized finance. Thirty-four per cent of the VERSE token provide is allotted to the Verse Improvement Fund with tokens being made accessible to the fund on a block-by-block foundation linearly over seven years.

Builders contributing to Verse via applications enabled by the Verse Improvement Fund can have entry to Chainlink’s value feeds, random quantity generator, and sensible contract automation instruments due to a partnership between Bitcoin.com and the industry-standard Web3 companies platform.

Different strategic patrons within the pre-sale of Bitcoin.com’s VERSE token embrace Digital Methods, Blockchain.com, Kucoin Ventures, Redwood Metropolis Ventures, Boostx Ventures, and Poly Community.

Bitcoin.com’s Dennis Jarvis added, “The big selection of individuals within the Verse token sale means Bitcoin.com can leverage high quality networks, infrastructure, and tooling to make sure the Verse ecosystem thrives. In the end this may imply extra alternatives for individuals to profit from the facility of decentralized finance.”

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Since 2015, Bitcoin.com has been a world chief in introducing newcomers to crypto. That includes accessible academic supplies, well timed and goal information, and intuitive self-custodial merchandise, we make it straightforward for anybody to purchase, spend, commerce, make investments, earn, and keep up-to-date on cryptocurrency and the way forward for finance.

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