Trade bitsCrunch (BCUT) on CoinList

We’re excited to announce that bitsCrunch (BCUT) is now available for trading on CoinList and CoinList Pro on Day 1 of the bitsCrunch mainnet launch!

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*Please be aware that deposits and withdrawals for BCUT are done via the Polygon Network, not the Ethereum Network. ERC-20 transfers are not supported and may result in a loss funds.

From Testnet to Sale to Trading

Prior to the bitsCrunch Community Sale, where 3,300 early adopters purchased over $3.8M BCUT tokens, bitsCrunch conducted an incentivized testnet campaign on CoinList to assess network security and functionality as it progressed towards mainnet launch. Early adopters actively participated 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 as a result. We’re thrilled to support the full lifecycle of the token launch for bitsCrunch and to provide a secure way for early adopters to engage with their ecosystem.

BCUT token utility

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. bitsCrunch empowers individuals to contribute code or content, thus continuously enhancing and broadening the network's capabilities.

The bitsCrunch utility token (BCUT) is a digital token native to the network, providing access to enriched NFT data within the bitsCrunch ecosystem. Its primary function is to facilitate smooth operations within the network, and it is intended solely for use as a utility token. The secure functioning of the bitsCrunch ecosystem relies on a combination of cryptographic techniques and economic incentives to drive adoption and ensure network security.

Core functions and utility of the token include:

• Incentive Alignment: The token serves as a motivational tool, compelling Operators, Delegators, Indicators, and Contributors to stake their tokens, fostering a vested interest that encourages collaboration and dedication. This commitment aims to fuel the growth of a secure and decentralized network.
• Network Security: Through mechanisms like staking, the BCUT token can bolster security measures, making malicious activities prohibitively expensive and thereby safeguarding the network's integrity.
• Independence: The token’s existence ensures the network operates autonomously,  diminishing reliance on external entities or tokens. This detachment shields the ecosystem from the volatile nature of external cryptocurrencies aligning rewards directly with sustainable actions and closely tying the token's value and functionality to our network's objectives and performance.
• Economic Design: The introduction of the BCUT token empowers the network with the flexibility to sculpt an economic framework that aligns with the distinctive demands and ethos of the ecosystem. For instance, managing BCUT issuance allows the DAO to regulate its availability, ensuring it's aligned with growth milestones. The DAO could incentivize early adopters with a more generous distribution initially, then gradually adjust issuance rate to manage inflation, or introduce deflationary tactics such as token burns to enhance value of the network as it matures. All these decisions will be formally addressed through the governance process.
• Decentralized Governance: The token facilitates decentralized governance, empowering token holders to propose and vote on network protocol changes and proposals.
• Discounting Mechanism: Data consumers can stake the token to access discounts on query pricing, incentivizing engagement with the network.

If you have any support-related questions, please submit a ticket here or DM us on Twitter at @CoinListSupport.

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Legal Notice

*BCUT trading is not available to citizens and/or residents of the U.S., Canada and other unsupported jurisdictions. For more information on unsupported jurisdictions see here.

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