Bitcoin.com to Launch IEO for Bitcoin.com's Exchange
Nearly every big exchange has a native exchange token of sorts or conducted an IEO. This includes Bitfinex who have launched LEO earlier this year, Binance who have conducted an ICO to start their operations, and KuCoin who have released KuCoin Shares.
These tokens tend to either give traders discounts on trading fees or give traders dividends from the exchange's profits. Additionally, native exchange tokens tend to be the way funding is conducted for IEO platforms. On Binance, BNB is used to raise funds for new tokens launching and it is nearly identical with every other platform.
One of the few exchanges yet to conduct an IEO, is Bitcoin.com's exchange. This could be due to the fact that the exchange is a relatively new, having launched in September 2019. Despite being a new exchange, Bitcoin.com already has a pretty robust selection with many popular trading pairs. Currently they also have negative trading fees of 0.3% to attract traders to the platform. In addition to this, the exchange already supports SLP tokens with GO Crypto token being traded.
Bitcoin Cash has made quite a bit of progress with their SLP token ecosystem during the past year. Roughly a week ago a SLP dividend calculator was released as well as tools to easily create tokens. In conjunction to all of this a token launchpad was hinted by Roger Ver in a previous Q&A
Bitcoin.com Exchange Token
Having a native exchange token for Bitcoin.com's exchange seemingly makes a lot of sense. It could easily compliment Bitcoin Cash's SLP token network and easily become one of the top tokens in the network. It appears that Bitcoin.com's staff thought so too.
Bitcoin.com has launched the private sale of Bitcoin.com's Exchange Token. It appears that the token will support many different use-cases. It will have a limited supply of 2,000,000,000 with 1,000,000,000 on sale during the IEO. The sale will have the different tiers of bonuses with the highest being 25%.
Benefits of holding Bitcoin.com's exchange include exclusive airdrops of SLP tokens, trading fee reductions which starts at 50% and is cut by half every year. Additional perks are token buybacks & burns, additional referral fees & priority IEO access to name a few.
As Bitcoin.com's exchange grows with time, we could possibly see Bitcoin.com's token among other exchange tokens. Perhaps it could fair above the rest, if & when it is widely adopted by traders.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado