Active users of the Bitcoin.com Wallet app to be rewarded with Bitcoin.com’s ecosystem token VERSE.
Bitcoin.com, a pioneer in the cryptocurrency space since 2015, has announced that it will proceed with an initial airdrop of Bitcoin.com’s ecosystem token VERSE. Green-lighted by the results of a community-led proposal, this first airdrop will be given to active Ethereum users of the Bitcoin.com Wallet app. Additional airdrops for active Bitcoin.com Wallet app users will be proposed for voting in the near future.
“This initial distribution is just the beginning of our airdrop program,” said Bitcoin.com CEO Corbin Fraser. “We’re starting with Ethereum, but intend to target active Bitcoin, Bitcoin Cash, Avalanche, Polygon, and BNB Smart Chain users of the Bitcoin.com Wallet app. Our goal is to get VERSE into the hands of early community members who share our vision of making crypto as accessible, rewarding, and fun as possible.”
About the Verse Airdrop and Rewards Program
The Verse airdrop program is part of a broader strategy to incentivize active community members and drive sustainable growth within the Bitcoin.com Verse ecosystem. In addition to the airdrop program, the Bitcoin.com team is now developing an in-app, quest-based rewards system. The latter will boost acquisition and retention by supporting and guiding users in their journey from Bitcoin newcomers to power users who can benefit from the full range of opportunities available in the decentralized finance realm.
Airdrops of VERSE tokens, as well as quest-based rewards, will be allocated from the 35% of total supply dedicated to ecosystem incentives, as outlined in the Verse white paper. Additional airdrop proposals will be made for the Verse Community to vote on via Bitcoin.com’s Verse Community Governance mechanism.
Voting Mechanics and Results
The voting period for this proposal, which ran from 4 July at 0:00 UTC to 11 July at 0:00 UTC, saw active discussion and participation from the community in the Verse Telegram and Discord groups. Holders of VERSE tokens were eligible to vote on the proposal, with the weight of each person’s vote proportional to the number of VERSE tokens they held.
The results are as follows:
Yes, proceed: 497M VERSE (99.59%)
No, do not proceed: 2M VERSE (0.41%)
The clear majority in favor of the proposal underscores the community’s enthusiasm and support for the airdrop initiative.
Next Steps
With the community’s strong backing, Bitcoin.com will proceed with the airdrop to active Ethereum users of the Bitcoin.com Wallet app. The airdrop details, including eligibility criteria and reward amounts, will be announced soon. The airdrop will be managed through a decentralized application (Airdrop dApp) supported by an underlying claimer contract on the Ethereum Chain.
Airdrop Announcement: Details to be revealed soon.
Airdrop Distribution: Users will check their Ethereum wallets for eligibility via the Verse Airdrop dApp and claim their airdrop within 30 days from the announcement. Any unclaimed VERSE will be returned to the Verse Ecosystem Incentives Fund.
About Verse
VERSE, which launched in December 2022, is Bitcoin.com’s rewards and utility token. By incentivizing and gamifying engagement, VERSE addresses the challenge of onboarding newcomers to the world of financial self custody. VERSE encourages people to safely explore and benefit from the opportunities at the frontier of finance while also fueling the growth and expansion of the Bitcoin.com Verse ecosystem, which includes:
The multichain Bitcoin.com Wallet app with over 50 million self-custody wallets created.
An award-winning News platform with over 2.5 million monthly readers.
The cross-chain decentralized exchange Verse DEX that integrates Farming rewards.
A suite of engaging dApps aimed at educating and safely onboarding users into the self-custody model including Verse Scratcher, Verse Clicker, and more.
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