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    Cryptocurrencies Biconomy Exchange
    USD
    $0.00000644893 $ 0.00000644893
    +¥5204,24 2% 1D
    1D 1M 1Y ALL
    Updated:
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    Market Cap (USD)
    2.4M
    24H Volume
    4.48K
    Circulating Supply
    371.46B BIT
    Max Supply
    1000B BIT
    All Time High
    0.000279734
    Rank
    1416

    About

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    • About Biconomy Exchange (BIT)

      With billions of dollars in assets, BitDAO is a decentralized autonomous organization (DAO). It was incubated in 2021 by the large derivatives exchange, Bybit. But BitDAO is not a company and has no management team or employees. Rather, it consists of a group of builders and stakeholders who hold BIT tokens and lead the project to success. BitDAO now focuses on Web 3.0 users, products and public utilities. It strives to create a mutually beneficial ecosystem.

      Along the way to vigorously developing DeFi and supporting Web 3.0 builders, all users can promote cooperation or upgrades like BitDAO, and these proposals are all voted by BIT token holders to approve or reject. The virtuous circle of Bybit's financial support and value creation by AE and partner labs has injected funds into different industries, blockchains and products, and particularly into the development of Web 3.0 tools and technologies in industries such as arts, education, media, finance, gaming, and technology.

      BitDAO positions itself as one of the largest DAOs in the world. By virtue of decentralized assets, decentralized technologies and decentralized organizations, its mission is to create an unimpeded economic model. Web 3.0 is a collective pursuit, and BitDAO shares the same vision for the future. It uses billions of assets to power autonomous entities (AEs).

      Within the industry, BitDAO has two missions:

      1. Support the builders of the decentralized economy and demonstrate the growth potential of DAO.
      2. Support all kinds of ideas and carry out a wide range of experiments, including the alignment of economic interests, governance, treasury management and organizational structure.


      How BitDAOBIT works

      BitDAO is an investment DAO that funds projects in a way that distinguishes typical venture capital from investment funds. The operation of BitDAO funds is entirely derived from the voting scheme, and the investment in the project will also help the development of the token-based decentralized economy.

      BitDAO initially raised $230 million through private fundraising, and Bybit also pledged to contribute 2.5 basis points of all futures trading volume to BitDAO’s vault, currently around $1 billion per year. With these funds, BitDAO first cooperated with SushiSwap, and exchanged 2.6% of the total BIT supply for the latter's governance and treasury business support.

      In the follow-up cooperation with Mirana Ventures, it allocated 33 million US dollars of funds for EduDAO, and offered 200 million US dollars worth of encrypted assets and projects such as Game7 and PleasrDAP to zkDAO. It provides these partners with research and development, liquidity, capital and operation support, promoting the project to become an industry leader. Members of the community have a strong will to deploy their funds to achieve their goals through different mechanisms and structures.

      Although it takes time for many projects to verify the rate of return, BitDAO's huge potential has become the subjective consensus of the entire DAO, and the total amount of tokens held in BitDAO's vault has exceeded US$1,103,000,000. At the same time, BitDAO will also support the development of blockchain technology through donations and support existing and emerging projects through token exchanges.


      What is BIT?

      BIT is the governance token of BitDAO. It was issued on MISO, the startup platform of encrypted projects on SushiSwap at the beginning of its establishment. It has a fixed supply of 10B tokens. Investors who hold tokens can delegate their voting rights to an address so that they can create proposals or vote.

      In terms of governance, holders create different proposals for DAO activity and vote on them. Although 60% of the BIT tokens will be allocated to Bybit, it is not immediately available, and 45% of the token supply will be locked for 1 year and gradually released within 2 years after the end of the lock-up period. So there is no need to worry about Bybit who will vote to decide the growth direction of BitDAO.

      In addition to entrusting some voting rights to partners such as Windanger Labs and Pentagon Labs, BIT tokens in the Bybit account can also be used to establish a R&D centre that supports BitDAO, give support to Bybit's business growth, and reward employees and stakeholders of Bybit/BitDAO R&D centers.

      In the final analysis, BitDAO is a DAO jointly governed by BIT token holders, so token holders can decide BitDAO’s decision-making and development. The value of BIT tokens is closely related to the success of the ecosystem, because after the passage of "BIP-9", BitDAO capital growth will be carried out through the dynamics of the program and the price of BIT tokens. Ordinary users can buy BitDAO's native tokens from cryptocurrency exchanges such as Gate.io, and become holders to govern DAO together.
      Expand
    • Biconomy Exchange Market

      Currency Price 24H Change Action
      Biconomy Exchange
      BIT /USDT
      3X Margin
      $0.00000644893 +2% Trade
      Biconomy Exchange
      BIT /USDT
      Perpetual
      $0.3013 +4.65% Trade
      Biconomy Exchange
      BIT /USDT
      Spot
      $0.00000644893 +2% Trade

    Biconomy Exchange FAQs

    • 1. What determines the price of Biconomy Exchange?
      There are two schools of thought in determining the price of Biconomy Exchange.

      By way of intrinsic value: This typically involves on-chain metrics, project metrics and financial metrics of Biconomy Exchange, collectively known as fundamental analysis. The law of supply and demand, tokenomics, use case, project roadmap as well as regulations and governance involved would affect the value of Biconomy Exchange from a long term perspective.

      By way of price action: Primarily analyzed via candlestick chart patterns and technical indicators such as MACD, RSI and the bollinger bands, technical analysis forecasts the price of Biconomy Exchange on the basis that history tends to repeat itself. As the candlestick charts are a general representation of the emotion of the market, news announcements and community sentiment can be significant price action drivers for Biconomy Exchange as well.

      HODLers tend to prefer the long term nature of fundamental analysis, whereas short term traders tend to rely on technical analysis more. In reality, both analyses may combine and create interesting scenarios for Biconomy Exchange and the cryptocurrency market as a whole.
    • 2. What is the highest price of Biconomy Exchange in history?
      Biconomy Exchange achieved the all-time high of $0.00028 in 2021-10-23, and is currently trading at $0.00001.
    • 3. What is the lowest price of Biconomy Exchange in history?
      In 2021-09-06, Biconomy Exchange reached the all-time low of $0.00000.
    • 4. Should I buy Biconomy Exchange now?
      It is important to remember that Biconomy Exchange, like all other cryptocurrencies, are subject to extreme market conditions, legal policies, project team management and other unpredictable factors. As such, cryptocurrencies fluctuate greatly and it is important to manage your own risk level. Users are advised to do your own research when making investment decisions in the crypto market.

    Biconomy Exchange News

    News
    Announcements
    How to Buy Crypto with Credit/Debit Card

    How to Buy Crypto with Credit/Debit Card

    [//]:content-type-MARKDOWN-DONOT-DELETE You can buy crypto with fiat currencies on Gate.io, and your purchased crypto will be deposited to your Gate.io wallet directly. Currently, we support 80+ fiat currencies, including USD, EUR, and GBP, while a wide range of popular cryptos are available. Fol...
    Source: Gate.blog Posted: 2022-12-01
    Market Trend|Harvard Urges Governments To Hold Bitcoin, SBF To Speak At Conference Alongside President Zelensky Despite Investigation

    Market Trend|Harvard Urges Governments To Hold Bitcoin, SBF To Speak At Conference Alongside President Zelensky Despite Investigation

    In light of the domino effect on devastating FTX collapse recently, the cryptocurrency market has been plunged once again into a bearish crypto winter, comparable to that of the immense bear markets witnessed in previous years. Across the past day alone, the total cryptocurrency market volume has pl...
    Source: Gate.blog Posted: 2022-11-25
    Daily News | Bitcoin, Ether Rise For Third Consecutive Day, Global Investors Turned Optimistic Following Fed Statement

    Daily News | Bitcoin, Ether Rise For Third Consecutive Day, Global Investors Turned Optimistic Following Fed Statement

    Fundamental & Technical Outlook: Macro Good morning, today is Thursday, Nov. 24, 2022. TL;DR 🔹 Bitcoin and Ether rise for a third consecutive day, following in-line expectation from the Federal Reserve to go through with a 50bps rate hike in December, ending the pr...
    Source: Gate.blog Posted: 2022-11-24
    How can investors seek and earn from arbitrage opportunities in a volatile market filled with collapses?

    How can investors seek and earn from arbitrage opportunities in a volatile market filled with collapses?

    Abstract Though the CPI is lower than what’s expected, which has temporarily boosted Bitcoin and the US stock market, we may still be mired in a bear market. It is particularly vital that we grasp our wealth code and find a relatively reliable and sta...
    Source: Gate.blog Posted: 2022-11-24
    What is the Bitcoin Stock-to-flow Model?

    What is the Bitcoin Stock-to-flow Model?

    TL;DR A Stock-to-Flow model determines an asset's scarcity by comparing its circulating supply, also known as the stock, to its annual incoming supply, known as the flow. PlanB, a prominent cryptocurrency analyst and investor, developed Bitcoin's S2F model and c...
    Source: Gate.blog Posted: 2022-11-22
    Market Trend|Bitcoin Price Target Plummets To $13.5K, FTX Bankruptcy Begins, Grayscale Eyes SEC Win

    Market Trend|Bitcoin Price Target Plummets To $13.5K, FTX Bankruptcy Begins, Grayscale Eyes SEC Win

    With the cryptocurrency market once again having been pushed into bearish territory in light of FTX’s dramatic collapse at the hands of former CEO, Sam Bankman-Fried, a majority of the market has suffered detrimentally, having been plunged into a space dominated by red candlesticks. With Bitco...
    Source: Gate.blog Posted: 2022-11-18
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