Bitcoin․com Expands Access to DeFi With Public Sale of Ecosystem Utility Token VERSE
November 1, 2022 – Bitcoin.com, a digital ecosystem and secure self-custody platform where users can safely and easily interact with cryptocurrencies and digital assets, has announced that the public sale of the VERSE utility token is now live. VERSE will reward participants for buying, selling, storing, using, and learning about cryptocurrency, while supporting those who are seeking accessible onboarding into Bitcoin and DeFi.
VERSE will fuel the growth and expansion of Bitcoin.com’s ecosystem, which includes over 35 million self-custody wallets created in its multi-chain DeFi-ready mobile app, and an award-winning news portal with over 2.5 million monthly readers. VERSE will provide access to exclusive platform services and act as the cornerstone for new initiatives, ultimately expanding access to decentralized technologies and finance. By interacting with the Verse DEX, staking VERSE, receiving cash back in VERSE, and using the VERSE token as collateral in various lending pools, Bitcoin.com’s millions of users will be able to take full advantage of their time spent engaging with the platform.
“We are officially entering a new era of Bitcoin.com with the public sale of VERSE. Our team strongly believes in Verse’s mission to enhance economic independence through its utility, ecosystem rewards and low-barrier-to-entry features offered on a secure, trustworthy platform,” said Dennis Jarvis, CEO of Bitcoin.com. “It is with Verse that Bitcoin.com will continue to provide not only crypto-newcomers, but also crypto-natives, with the resources, tools, and technology needed to usher in the next cycle of mass DeFi adoption.”
Two percent of the 210 billion fixed token supply is up for grabs in the public sale. Tokens will begin unlocking from day one and continue on a linear vesting schedule over 18 months. The public sale follows the VERSE Sale A, a private sale, completed in May 2022, where 10% of the total VERSE supply was sold in exchange for $33.6 million. As the public sale is dynamically priced, buyers may secure a price per token that is less than that paid by buyers in the private sale. The sale will run for 30 days or until the soft cap is reached. Read more about the Verse token sale’s dynamic pricing here.
As a cross-chain token compatible with the ERC-20 standard and with a focus on expanding into low-fee chains, VERSE will provide value to those interacting with the Verse DEX, Ethereum blockchain, and broader DeFi ecosystem. The public sale of VERSE compliments exciting progress in the Bitcoin.com ecosystem, such as development of a crypto-backed debit card that will pay cash back in VERSE, integrations with Avalanche, a partnership with Coinbase Cloud for multi-chain connectivity, the official launch of the Verse Development Fund, NFT-collectibles, and security and accessibility upgrades made to Bitcoin.com accounts.
The VERSE token will also spearhead initiatives to accelerate growth and innovation through the Verse Development Fund. The fund, led by Lizzie Eng will provide a pipeline of resources for DApps integrating with the ecosystem and incubate token projects through the Bitcoin.com launchpad service, live in 2023.