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

press release

Bitcoin.coma digital ecosystem and secure self-storage platform where users can safely and easily interact with cryptocurrencies and digital assets, announced the completion of the pre-sale of the rewards and utility token VERSE, where 16% of the total supply was purchased for $50 million .

Bitcoin.com also announced the launch of VERSE trading on its decentralized exchange, the Verse DEXstarting at. 00:30 UTC on December 8. The initial listing price will be $0.0015 per VERSE.

“The success of the Verse token sale despite severe bear market conditions is a testament to the quality of Bitcoin.comits ecosystem token,” said Bitcoin.com CEO Dennis Jarvis. “I have no doubt that Verse will supercharge Bitcoin.comits mission to create financial freedom by helping millions more people access Bitcoin and decentralized finance where they can take advantage of the benefits enabled by self-storage, transparency and censorship resistance.”

The VERSE token will benefit i Bitcoin.comits ecosystem, which includes over 35 million wallets created in its multi-chain DeFi-ready mobile app, and an award-winning news portal with over 2.5 million monthly readers.

Verses will also act as a reward mechanism to encourage positive actions such as taking self-storage of assets. For example Bitcoin.com team launched in November CEX education program which will reward individuals affected by centralized crypto company insolvencies while encouraging the adoption of decentralized finance and self-storage. Five percent of the total VERSE token supply is dedicated to the program.

Verse additionally refers to an ecosystem of decentralized applications (DApps) that will lead millions of people on their journey beyond Bitcoin, including to decentralized finance (DeFi), one of the fastest growing verticals in the Web3 today. In that connection Bitcoin.com the team launched Vers Development Fund which will accelerate growth and innovation i Bitcoin.com‘s Verse ecosystem while empowering projects that embody Bitcoin.comits ethos of economic freedom and democratized finance. Thirty-four percent of the VERSE token supply is allocated to the Verse Development Fund with tokens made available to the fund on a block-by-block basis linearly over seven years.

Developers contributing to Verse through programs enabled by the Verse Development Fund will have access to Chainlink’s price feeds, random number generator and smart contract automation tools thanks to a cooperation between Bitcoin.com and the industry standard Web3 service platform.

Other strategic buyers in pre-sales of Bitcoin.com’s The VERSE token includes Digital Strategies, Blockchain.com, Kucoin Ventures, Redwood City Ventures, Boostx Ventures and Poly Network.

Bitcoin.com’s Dennis Jarvis added: “The broad range of participants in the Verse token sale means Bitcoin.com can leverage quality networks, infrastructure and tools to ensure the Verse ecosystem thrives. Ultimately, this will mean more opportunities for people to benefit from the power of decentralized finance.”

Bitcoin.com

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