bitsCrunch Community Sale Sold Out in Record Time
We’re excited to announce that the bitsCrunch Community Sale on CoinList has added more than 3,300 unique token holders to the bitsCrunch community, with over $3.8M in BCUT tokens (7% of total supply) purchased throughout the course of the sale.
The entire sale sold out in a record 24 minutes, faster than any other sale in CoinList history. It was also one of the most geographically diverse sales we’ve conducted, attracting registrants from 163 countries, amplifying the network’s decentralization. Prior to the sale, registrants funded their wallets with $21M, surpassing the maximum purchase amount by more than 5X.
The bitsCrunch team looks forward to successfully distributing 20% of the purchased tokens to their community on mainnet launch currently anticipated in January 2024, followed by a 12-month linear release.
From Testnet to Community Sale
Prior to the community sale, bitsCrunch conducted an incentivized testnet campaign on CoinList to assess network security and functionality as it progressed towards mainnet launch. Early adopters actively participated through their own efforts by completing the specific tasks, earning BCUT tokens based on their contributions.
Over 27,000 unique wallets were connected to help test real-world scenarios, many of whom were rewarded with Priority Queue access to the sale. The Priority Queue is an invite-only queue for community sales that is significantly shorter than the main queue, offering users an increased chance of securing an allocation.
Sale Improvements
The bitsCrunch Community Sale generated an unprecedented demand on our systems, particularly impacting trading and site performance. A slow query caused page loads to timeout on the site, which we fixed immediately after the sale. Some users were not able to complete trades because quotes were not being processed from our message queue quickly enough. Scaling up our services that consume and process those messages allowed users to get quotes and complete trades. We plan to conduct more thorough load tests going forward so that we can avoid these interruptions around community sales in the future.
About bitsCrunch
bitsCrunch is a decentralized, AI-enhanced data network that delivers unmatched analytics and forensic data for NFTs, wallets, and other digital assets on the public blockchain. Accessible through user-friendly APIs, their platform lays the groundwork for diverse application development. Distinguished by its commitment to a community-driven ecosystem, bitsCrunch empowers individuals to contribute code or content, thus continuously enhancing and broadening the network's capabilities.
To learn more about bitsCrunch, visit their website or follow them on Twitter.
Legal Disclaimer
The sale is not available for residents of the United States (and its territories), China, Canada, South Korea, and certain other jurisdictions.
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