Understanding Tokenomics: An Overview of Bitkub Coin (KUB)
Tokenomics is essential for comprehending the Bitkub Coin (KUB)and its various applications, as well as how tokens are managed within the Bitkub Chain network. To draw a comparison, Ether serves as the network coin for the Ethereum network.
Bitkub Coin (KUB) Explained
KUB, short for Bitkub Coin, is the utility token of the Bitkub Chain, a blockchain developed in Thailand with the goal of enabling widespread KUB usage throughout the Bitkub ecosystem. The token assumes different roles within the network.
Four Primary Functions of KUB on the Bitkub Chain
Gas Fee Payments with KUB
Gas, a unit of measurement, represents the workload validators undertake, including verifying and confirming transactions and ensuring transaction security on the Bitkub Chain. Users pay gas fees in KUB coins when transacting on the network, with costs increasing based on the complexity and size of the transactions. Gas is used for network transaction fees, asset transfers, storage, and Smart Contracts or Decentralized Application (DApps) fees.
Fee Credit Payments with KUB
KUB holders can trade their coins for trading fees (fee credits) on Bitkub, with updates provided regularly on the platform's website.
Lock & Drop with KUB
Through the Bitkub NEXT application, a user-friendly digital wallet developed by Bitkub Blockchain Technology Co., Ltd. (BBT), KUB holders gain exclusive privileges. The Lock & Drop system enables users to deposit KUB coins for a predetermined duration and receive rewards from Bitkub partners.
KUB Exchanges for Goods and Services
Bitkub partners and merchants may opt to accept KUB coins in exchange for exclusive goods and services. Users can stay updated on partner news via Bitkub's official website and social media channels.
Tokenomics Overview: Bitkub Coin Economics
Coin Name: Bitkub Coin
Abbreviation and Total Supply: 110,000,000 KUB
Circulating Supply: 85,000,000 KUB
|PERCENTAGE||KUB SUPPLY||RELEASE SCHEDULE|
|Ecosystem Budget||13.64%||15,000,000||Unlock at Bitkub Chain V1.0 launch|
|Network Development Budget||13.64%||15,000,000||Quarterly over 2 years (first release in September 2021)|
|Company Reserve Budget||9.09%||10,000,000||3 years vesting period then unlock yearly over 3 years (first release in September 2024)|
|Liquidity Support Budget||46%||50,605,103||Completed|
|Business Partner Budget||8.54%||9,394,897||Unlock at Bitkub Chain V1.0 launch|
|Airdrop Event Budget||9.09%||10,000,000||Completed|
Managed by BBT, this budget supports project development, gas fees, and other infrastructure developments that foster long-term growth within the Bitkub Chain ecosystem.
Network Development Budget
BBT admin this budget for user network building and promoting Bitkub Chain network usage through community education and ecosystem development.
Company Reserve Budget
Managed by Bitkub Capital Group Holdings Limited (BCGH), this budget serves as a reserve for emergencies or other purposes deemed appropriate by BCGH's Board of Directors.
Liquidity Support Budget
BBT oversees this budget to bolster Bitkub Coin (KUB) liquidity on the first trading day on the Bitkub digital asset exchange.
Business Partner Budget
Administered by BBT, this budget fosters relationships with business partners joining the network.
Airdrop Event Budget
Bitkub Online Co., Ltd. (BO) manages this budget for distributing Bitkub Coin (KUB) to BO clients meeting minimum cumulative turnover requirements and within specified timeframes, with the initial distribution completed at the launch of Bitkub Coin (KUB).
Total supply = 110,000,000 KUB