Bitcoin.com Announces VERSE Ecosystem Token sale

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Verse Sale

Bitcoin.com Is a Bitcoin exchange and cryptocurrency wallet developer that creates a digital ecosystem where clients can safely and securely store their cryptocurrencies and interact with their digital assets. Bitcoin.com has announced that the public sale of the VERSE Utility and rewards token will kick off on the 1st of November 2022.

More on VERSE

The VERSE ecosystem will support people that are on-boarding into Bitcoin and defy by rewarding them for buying, selling, storing, using and learning about cryptocurrencies. The users of the bitcoin.com exchange can benefit greatly from holding the VERSE token. Through sale B, millions of users can take full advantage of their time spent engaging on the platform. There will be rewards such as cashback offers and also rewards for interacting with the Verse Dex, other rewards can include staking VERSE tokens and using the token as collateral in assorted lending pools. The bitcoin.com exchange also has future plans to release air drops in an attempt to spread awareness about the Verse token and to encourage current users to get more involved in the Defi Space.

The Verse token supply will be fixed at a ceiling of 210 billion tokens, these tokens will slowly be distributed onto the blockchain over the course of a seven-year. The public sale of the token follows the private sale that happened in May of 2022, and a total of 10% was sold of the available supply on the exchange for around 33.6 million dollars.

The VERSE Community

As with many cryptocurrency projects and tokens, there is always a healthy community following behind certain movements,  and this project is no different. The Verse community has grown in size, with more than 25,000 active members on one of their telegram channels.

This community clearly sees the value in the token and is aligned with the mission that the developers initially had in mind, where they can create an ecosystem with economic freedom at its core.

The utility of the Verse token allows it to act as a cornerstone of the Verse development fund, which is an initiative to accelerate growth and innovation in bitcoin.com’s Verse ecosystem.

Starting in the first quarter of 2023, this development fund will provide grants to Dapps that integrate with the ecosystem. Some of the Verse team members are actively seeking opportunities to expand the token onto low-fee Ethereum virtual machine-compatible networks to be able to provide an optimal user experience.

The public sale of the word token will align with the exciting new developments that are occurring inside the bitcoin.com ecosystem, such as new integrations with Avalanche, which will act as the official launch of the development fund, as well as new security and accessibility upgrades that are being made to the bitcoin.com platform.

The Verse public token sale will unfortunately not be available in the United States, Japan and some other restricted jurisdictions that can be found on the bitcoin.com website.

5 Top Stories You Might Have Missed This Weekend

Earnings and expectations of a Fed pivot are restoring confidence in financial markets, assuaging investors’ concerns. Here is a summary of a few significant news stories from the last weekend that may have an impact on the market’s course.

  1. Dogecoin price surges: You might have recently heard rumours of Elon Musk wanting to purchase Twitter, well over the weekend, the news was made official, and as a result, one of the cryptocurrencies that Elon Musk openly supports, called Dogecoin, suddenly saw a massive price increase.

After inspecting what happened in the market, analysts hint at the possibility that the fast price increase was due to a phenomenon called a short squeeze. Short squeezes occur in futures markets when over-leveraged traders’ positions get closed, resulting in buybacks which further drive the price up and cause more short positions to close, this causes a cascading effect, and the price can suddenly shoot up in seconds. The meme coin hit an intra-day high of $0.149 on Saturday, a 78% jump from the previous session.

  1. Elon Musk Goes to Work at Twitter: After seizing control of Twitter, Elon Musk, CEO of Tesla Inc., reacted to inquiries about how he plans to lead the social media company and its staff. Musk made it clear that before a content control committee is established, no content adjustments or bans will be lifted. Additionally, he mentioned that the verification procedure is now being revised, and as a result, the blue badge awarded to confirmed users may be removed.
  2. Apple Facing A Reversal?: For the October – December quarter, Apple Inc. hinted at a sequential slowdown in revenue growth, putting this projection further in jeopardy. After the COVID-19 comeback in China, Hon Hai Precision Manufacturing Co. Ltd., also known as Foxconn, has transitioned to closed-looped manufacturing.

Upwards of 10% of the world’s iPhone manufacturing capacity is currently compromised, but Taiwan-based Apple analyst Ming-Chi Kuo is confident that there won’t be any effects on fourth-quarter shipments. He mentioned that in order to create manufacturing lines for its most recent iPhone model, Cupertino has turned to its other partners.

  1. Goldman Sachs Increases Terminal Fed Rate Estimate: The reserve bank may need to hike rates a little bit more, to 4.75%-5%, and continue doing so past February, according to reports this week. Earlier estimates placed the terminal rate range at 4.50%-4.75%. The expectation was based on three things, according to the economists: high inflation, the need to slow the GDP as real earnings rises, and preventing an early loosening of economic circumstances.
  2. A Trump ally loses the Brazilian presidential run-off election: Luiz Inácio Lula da Silva, a left progressive, defeated Jair Bolsonaro to become the nation’s newest leader. The latter, meanwhile, received support from former American President Donald Trump, who even gave him the moniker “Tropical Trump.”

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