The Bitcoin.com has announced Verse, a rewards and utility token for the Bitcoin.com ecosystem.
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.
“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.
“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.
