Biconomy, a Canadian-based cryptocurrency exchange, is holding a $50,000 airdrop campaign to celebrate its new official token, BIT.
As per the announcement, the airdrop will reportedly run for 20 days and will be held and tracked by CoinMarketCap. Notably, from all the participants, 10,000 users stand to share in the grand prize. So far, there are over 380,000 people signed up to participate in the event.
People seeking to participate in Biconomy’s airdrop are required to add Biconomy Token – BIT to their CoinMarketCap watchlist, join Biconomy exchange social media platforms, and retweet pinned posts on the social media pages. Participants will also be required to mention three friends with hashtags #BIT, #Bitconomy Exchange. For the last requirement, participants will need to fill a google form providing the correct information required.
At the end of the event, Biconomy will distribute $30,000 in BIT tokens to participants who successfully fulfill all the above requirements. The tokens will be credited to participants’ BSC wallet share through the google forms.
The remaining $20,000 will be distributed to participants who will hold and not sell the BIT tokens. Notably, participants who will store the token for three months will receive a 30% reward for the amount they have, while those who will hold the tokens for six months will receive a 60% reward on their assets.
Dmitriy Sheludko, CEO at Biconomy exchange, commented:
“We are confident that the BIT token model and protocol would be a great addition to Biconomy exchange as well as the whole cryptocurrency market. As more people become involved in crypto trading, Biconomy will benefit and grow along with the industry. It also provides a compelling loyalty and rewards scheme that will position it well in an increasingly competitive crypto exchange industry.”
BIT will be applied to DEX, smart chain contracts, NFT, and other potential products within the Biconomy ecosystem. BIT’s value is in part reliant upon the reputation of the Biconomy crypto exchange. The BIT tokens come with a wide range of utilities and benefits to holders. BIT adopts a deflationary model that imposes a 6% tax fee on each transaction. The exchange plans to use 50% of all transaction operation fees to repurchase and burn BIT tokens. In the coming days, BIT holders will have the opportunity to save 25% on spot trading and margin trading fees and 10% on future trading fees.
Notably, Biconomy plans to increase more use cases for the tokens to avoid becoming redundant like many tokens currently available in the market.
Join BIT Token $50,000 Airdrop campaign: