Understanding Tokenomics: An Overview of Bitkub Coin (KUB)Understanding Tokenomics: An Overview of Bitkub Coin (KUB)
Four Primary Functions of KUB on the Bitkub Chain
- The Gas Fee for transaction fee on blockchain network such as asset transfer, storage, and others
- The Gas Fee for utilizing smart contracts or Decentralized Applications on the blockchain network.
Tokenomics Overview: Bitkub Coin Economics
| Means of Distribution of KUB | Ratio to Total KUB | Amount of KUB (coin) | Period of Distribution of KUB |
|---|---|---|---|
| Ecosystem Fund | 13.64% | 15,000,000 | Unlock at Bitkub Chain V1.0 launch (not fully unlocked) |
| Community Development Fund | 13.64% | 15,000,000 | Release Quarterly for 2 years (first release in September 2021) |
| BCGH's Reserve Fund | 9.09% | 10,000,000 | 3 years locking period then unlock yearly for 3 years (first release in September 2024) |
| Liquidity Provision Fund | 46% | 50,605,103 | Completed |
| Strategic Partners Fund | 8.54% | 9,394,897 | Unlock at Bitkub Chain V1.0 launch (not fully unlocked) |
| Initial Airdrop Fund | 9.09% | 10,000,000 | Completed |
| Total KUB Supply | 100% | 110,000,000 |
Ecosystem Fund
This fund is managed by BBT and used for a variety of purposes, including project development on Bitkub Chain, support of Validator, support of Gas Fee, and other infrastructure development that will assist the Bitkub Chain ecosystem to grow steadily in the long term. On August 9, 2021, 285,000,000 KUB (from the total amount of 300,000,000 KUB as specified in Bitkub Chain Whitepaper V1.0) were burnt to 15,000,000 KUB.
Community Development Fund
This fund is managed by BBT for the purpose of establishing a user network and promoting the usage of the Bitkub Chain through community education, with the goal of creating a stronger ecosystem. On August 9, 2021, 225,000,000 KUB (from the total amount of 240,000,000 KUB as specified in Bitkub Chain Whitepaper V1.0), were burnt to 15,000,000 KUB.
BCGH's Reserve Fund
This fund is held and managed by BCGH to be used as a reserve fund for emergency event or it whatsoever are determined to be appropriate by the board of directors of BCGH. On August 9, 2021, 290,000,000 KUB (from the total amount of 300,000,000 KUB as specified in Bitkub Chain Whitepaper V1.0) were burnt to 10,000,000 KUB.
Liquidity Provision Fund
This fund is managed by BBT to support liquidity of KUB on the first trading day in the digital asset exchange operated by BO. On August 9, 2021, 49,394,897 KUB initially locked were burnt but the remaining 50,605,103 KUB that were purchased, are still circulating in digital asset market.
Strategic Partners Fund
This fund is managed by BBT with the purpose of making relationships with business partners to participate in Bitkub Chain. On August 9, 2021, 40,605,103 KUB (from the total amount of 50,000,000 KUB as specified in Bitkub Chain Whitepaper V1.0) were burnt to 9,394,897 KUB.
Initial Airdrop Fund
This fund was managed by BO to use as the fund for KUB distribution for BO customer who had minimum collective purchase volume that met the criteria and time as set out by BO. This fund was completely dispersed at the beginning of KUB launching period.
