TOKENOMICS
Token Utility Bitkub Coin (KUB) will be a 'native coin' on Bitkub Chain (similar to ETH in the Ethereum network) However, it can be used for other utilities as outlined below
- Gas Fee: Gas is a unit of measurement representing the amount of work done by nodes to validate and secure transactions on Bitkub Chain. To interact with Bitkub Chain, users pay gas fees in the form of KUB. The amount of gas paid depends on the complexity and size of interaction within Bitkub Chain. Gas is used in:1. Asset transfer as a fee2. Creation and interaction with smart contracts or decentralized application (dApps) Smart Contracts are used to complete the tasks on Bitkub Chain. Every step in a Smart Contract is a transaction, or a complex calculation that has associated costs, measurable in 'gas', where KUB is used as the mean for payment.
- Fee Credits: Since KUB has been listed on Bitkub Exchange, one of the core utilities that differentiate KUB from the rest of the native coins is the convertibility to fee credits on Bitkub Exchange, details of which are routinely announced on the official website page.
- Lock & Drop: KUB's holders can enjoy rewards through Bitkub NEXT, a user-friendly cryptocurrency wallet developed by Bitkub Blockchain Technology Co., Ltd. Lock & Drop feature allows KUB' holders to lock their KUB coins within a certain period of time and earn various digital assets,as well as other lifestyle rewards from partners.
- Redemptions for partners' services and products: Our recognized partners or general merchants may desire to use KUB to redeem for their products and services. Although it is not intentionally for KUB to be the means of payment, partners or the general public may select to use KUB for that purpose themselves. Users can check updated news on partners through our official website: https://www.bitkubchain.com/ or our social media: https://www.facebook.com/bitkubchainofficial/ or our partner's communication channels.
Tokenomic Overview
- Token Name: Bitkub Coin
- Token Symbol: KUB • Total supply = 110,000,000 KUB
- Initial circulating supply = 85,000,000 KUB
PERCENTAGE
KUB SUPPLY
RELEASE SCHEDULE
Ecosystem Fund
13.64%
15,000,000
Unlock at Bitkub Chain V1.0 launch
Community Development Fund
13.64%
15,000,000
Quarterly over 2 years (first release in September 2021)
Company Reserve
9.09%
10,000,000
3 years vesting period then unlock yearly over 3 years (first release in September 2024)
Liquidity Provision
46%
50,605,103
Completed
Strategic Partners
8.54%
9,394,897
Unlock at Bitkub Chain V1.0 launch
Initial Airdrop
9.09%
10,000,000
Completed
TOTAL
110,000,000
- Ecosystem Fund - The Ecosystem Fund, managed by Bitkub Blockchain Technology Co., Ltd., is to be used for areas including, but not limited to, grants for project development in Bitkub Chain ecosystem, node validators, gas fee subsidies, and other infrastructural aspects that will help the long term sustainable growth of Bitkub Chain ecosystem. Out of 300,000,000 KUB in V1.0, 285,000,000 KUB is to be burned to remain the total of 15,000,000 KUB in V2.0.
- Community Development Fund - The Community Development Fund, managed by Bitkub Blockchain Technology Co., Ltd., is to be used to build community and promote the adoption of Bitkub Chain through education of the public and information dissemination in order to foster a more holistic ecosystem. Out of 240,000,000 KUB in V1.0, 225,000,000 KUB is to be burned to remain the total of 15,000,000 KUB in V2.0.
- Company Reserve - The Company Reserve, managed by Bitkub Capital Group Holdings Co., Ltd., is to be used as a contingency reserve or as the company sees fit. In addition to the members of the company's team. Out of 300,000,000 KUB in V1.0, 290,000,000 KUB is to be burned to remain the total of 10,000,000 KUB in V2.0.
- Liquidity Provision - The Liquidity Provision Fund, managed by Bitkub Blockchain Technology Co., Ltd., is to be used to provide liquidity for Bitkub Coin (KUB) on the initial listing date. 49,394,897 KUB, which was previously locked, is to be burned. However, 50,605,103 KUB, which was sold during initial listing, is currently circulating in the market.
- Strategic Partners - The Strategic Partners Reserve, managed by Bitkub Blockchain Technology Co., Ltd., is to be allocated to the acquisition of strategic partner(s). Out of 50,000,000 KUB in V1.0, 40,605,103 KUB is to be burned to remain the total of 9,394,897 KUB in V2.0.
- Initial Airdrop - The Initial Airdrop, managed by Bitkub Online Co., Ltd., is used to distribute Bitkub Coin (KUB) to eligible customers based on their cumulative trading volumes within a designated timeframe during the initial launch of the project.
RELEASE SCHEDULE
