According to PANews, decentralized auction platform Bounce Brand has updated the details of the XRGB ID0 auction for the Bitcoin L2 network on its platform. The ID0 event will take place from 20:00 Beijing time on February 20th to 20:00 on February 21st. The auction will have a fixed price, with the swap currency being ETH. Each XRGB token will be priced at $0.0476, and the ID0 token supply will be 6.3 million tokens, representing 3% of the total supply. The XRGB ID0 is only available to users who have staked at least $100 worth of AUCTION on BounceBit.
The XRGB protocol is an interoperability framework specifically designed for Bitcoin and ERC404 assets. Its main goal is to enhance the liquidity and efficiency of Bitcoin assets through decentralized messaging and fluid transfer mechanisms. On the other hand, the XRGB Chain, built on top of the XRGB protocol, combines the advanced transaction privacy features of the RGB protocol. Its aim is to become the ultimate Layer 2 solution for Bitcoin DeFi, emphasizing scalability and privacy.
According to XRGB tokenomics, the total token supply is 210 million, with 5% allocated for public sale, 2.5% for private sale, 50% for community incentives, 17.5% for the ecosystem, 10% for marketing reserves, 5% for LP, and 10% for the team.
