Roger Ver’s Bitcoin.com Launches ETH-Based VERSE Token: Details

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Yuri Molchan

Former Bitcoin Jesus Plans To Release Its Own Cryptocurrency, VERSE, Based On Ethereum Chain

Contents

Utility and Reward Token by Roger VerVERSE Distribution Mechanisms

According to the Twitter blog of Chinese blockchain reporter Colin Wu, Roger Ver’s platform Bitcoin.com is preparing to launch its own cryptocurrency, VERSE, based on Ethereum’s ERC-20.

The total supply of 210 billion will be allocated within seven years, Wu specifies.

Roger Ver is an internet entrepreneur and early Bitcoin user and evangelist and founder of Bitcoin.com, who later moved on to promoting Bitcoin Cash.

Utility and Reward Token by Roger Ver

The coin’s white paper, the link of which was shared by Wu, shows that Roger Ver has decided to create “an ultimate utility and reward token” for an army of customers who use Bitcoin.com on a daily basis.

The document says that VERSE will be distributed to users who contribute to and actively participate in the Bitcoin.com ecosystem.

The white paper highlights that VERSE is comparable to BNB and FTT (utility and reward tokens for the major global exchanges of Binance and FTX), and is also comparable to Uniswap.

Bitcoin.com has created over 29 million wallets and has over five million monthly active users.

FRESH distribution mechanisms

The white paper shows that excluding the aforementioned total amount of 210 billion that will be fully spent within seven years, the fully diluted market cap of the token (estimated at launch) will be $504 million.

VERSE will be distributed to Bitcoin.com users through two token sales, incentives and rewards within the ecosystem and through the platform’s development fund.

Thirty-five percent (35%) of the VERSE offerings will be distributed through yield farming, strike rewards, and airdrops. Thirty-four percent (34%) of the supply will be allocated to developers for strategic partnerships and deflationary delivery mechanisms.

Fifteen percent (15%) of VERSE will be provided to non-Founding and Founding members of the VERSE team and will be unlocked within four years. Finally, 10% and 6% of VERSE will be distributed through the two token sales mentioned above.

VERSE will have its own mobile app, a DEX (decentralized exchange) and a CEX (centralized trading platform).

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