🌐BIT Token

The step towards decentralization...

The Bitonite (BIT) token ensures the decentralization of the protocol. Similar to any other decentralized protocol, the governance token is used to allow users to indicate the direction in which the protocol should develop. Outside of the governance realm, BIT is used to provide benefits to users within the ecosystem and reward holders.

Token Specifications

Specification	Data
Token Ticker	BIT
Contract	not published
Token Type	BEP-20
Total amount	100,000,000
Original amount	not specified
Token creation	October 11, 2023

BIT Token Launch

The market launch does not follow the usual procedure of pre-sales. Instead, a method has been developed to offer early platform users a special added value. The initial token allocation is carried out through free token giveaways. The token giveaways are divided into three epochs: before the launch, during the launch, and after the launch. In each category, a specific multiplier is set to increase the existing trading balance, affiliate commissions, or similar revenues of the platform with EsBIT tokens. These EsBIT tokens can be converted into BIT tokens after the launch.

BIT Ecosystem

In the Bitonite ecosystem, BIT is used as follows; BIT serves as a protocol token and is used in addition to governance, farms, L(earn), buyback, and burn in the protocol to pay fees with BIT, also to perform withdrawals with it, and another portion will always flow into buyback and burn.

Epochs

Epochs are defined between Epoch 1-3, in which all users of the Bitonite trading platform are rewarded with EsBit. This process helps us identify the original sum of tokens and distribute them to early users of the platform in a similar way to an airdrop. These can be converted into BIT through flexible vesting when BIT is launched. More information

Buyback & Burn

Entrance fees, profit sharing or education portal revenues generated in the BIT ecosystem will be used to repurchase and burn the token, thus strengthening BIT. Buyback and burn will take place monthly and will always be communicated with the community. More information

Farm/Staking

Farm

Farming is a rewarding method to earn BIT tokens. It involves depositing two tokens as liquidity, receiving LP tokens and then depositing them in the farming section to earn BIT rewards.

Staking

Use your BIT tokens to earn more BIT tokens and benefit from additional advantages and discounts in the ecosystem.

These two options provide you with a way to multiply your earned BIT tokens and use them to your advantage in the BIT ecosystem.

(L)earn

Learn more about Web3, NFTs, the Metaverse, and other interesting fields in the crypto space and earn rewards in the form of BIT tokens by solving various quiz tasks.

Governance

Through governance, we aim to avoid a centralized administration by placing full authority in the hands of the involved users. To ensure the success of the project, BIT was created as a governance token that ensures only users who are truly committed to the project can participate. Users acquire BIT tokens, which represent their share in the DAO, by exchanging money for voting rights. This ensures that all participants act honestly and have a genuine interest in the DAO.