The Bitcoin.com ecosystem, how Verse fits in, and the synergy created
Bitcoin.com’s mission is to create more economic freedom in the world. By adding utility and providing incentives for people using crypto, by unlocking powerful DeFi applications for the mainstream, and by paving the way for other Web3 use cases, Verse supercharges the creation of economic freedom.
In this article, we wanted to take the time and space to explain in more detail Bitcoin.com’s current thriving ecosystem, how Verse fits into it, and the synergy created between the two.
The Bitcoin.com ecosystem has three main components: the App, the DEX, and News. Let’s start with the Bitcoin.com App.
Bitcoin.com App
The Bitcoin.com App is a mobile and web-enabled platform from which users can access all Bitcoin.com products and services. The heart of the platform is a non-custodial multicoin wallet, with over 29 million wallets created and 5+ million monthly active users. In conjunction with the name recognition of Bitcoin.com, the app is an amazing funnel that takes beginners and sets them on their crypto journey. However, our wallet provides optimal utility for users, no matter their level of experience. To that end, it integrates a learning center, market information, news, and features for buying, selling, spending, swapping and investing crypto. The Bitcoin.com Card will also be integrated into the App, making it possible to spend your crypto anywhere cards are accepted.
How Verse fits in
Verse is being woven into all Bitcoin.com products. You’ll be able to earn VERSE in the form of cashback for buying, selling, and swapping in the App, as well as by using the Bitcoin.com Card. To incentivize ownership and utility, VERSE holders will be entitled to rebates and benefits along multiple tiers, where holding more VERSE unlocks additional rewards.
What is the synergy created
By unlocking benefits, Verse provides an improved experience with Bitcoin.com products. Also, by rewarding active users of the App with VERSE, we create a strong base of Verse community members. Importantly, as people are incentivized in a variety of ways to hold VERSE, this reduces the effective circulating supply of the token. This and other benefits lead to wider adoption of permissionless tools, deeper integration into the decentralized economy, and more economic freedom.
Verse DEX
The multichain Verse Dex is Bitcoin.com’s first step in bringing DeFi to the mainstream. The Verse DEX will support Ethereum and smartBCH at the launch of the Verse token, but will rapidly expand into ERC-20 compatible low-fee blockchains.
A major challenge with DEXs and DeFi broadly is that since there aren’t many new users coming in, new projects cannibalize users from existing projects. It’s a zero-sum game. We are making DeFi products AND supplying the users. Through our App, we’re going to be injecting fresh life into the entire DeFi ecosystem.
How Verse fits in
The Verse DEX is a key piece of the Verse ecosystem. Using it, you’ll be able to:
- Trade VERSE for your favorite cryptos
- Provide liquidity to the Verse DEX to earn a portion of DEX trading fees
- Yield farm by depositing liquidity pool tokens
- Stake VERSE and claim various rewards proportional to the amount of tokens multiplied by time staked
The Verse DEX will also be integrated into the Bitcoin.com App, providing an easy-to-use, permissionless trading and yield solution for the millions of people who rely on the world’s best non-custodial multichain crypto wallet. DEXs and DeFi can be intimidating, but we’re making it approachable.
What is the synergy created
The Verse DEX is very synergistic with the Bitcoin.com App. The DEX gets instant access to the millions of people currently using the App. Meanwhile, people using the App get an improved trading experience and additional yield opportunities.
A portion of fees generated by the Verse decentralized ecosystem will be used to automatically buy back and burn VERSE in perpetuity. Starting with the DEX, the scope of eligible products will expand as the Verse ecosystem grows.
Read more: Why a DEX?
Bitcoin.com News
Bitcoin.com News publishes a comprehensive 24-hour feed covering all stories relating to crypto users. In 2022, Bitcoin.com News is the most trusted crypto news source and industry leader for millions of readers. Bitcoin.com News is ranked by FeedSpot as #1 for Bitcoin and #4 for crypto. It also was ranked best crypto news site in 2020 and 2019 by btcpeers.com.
Being an industry leader translates to a wide audience and massive reach, with nearly 2.5 million monthly active readers. Peak traffic has attracted above 10 million page views per month. Bitcoin.com News has an equally strong social following: over 2.4 million followers on Twitter, 260,000 on Facebook, and more than 35,000 on Telegram.
How Verse fits in
Advertisers who wish to access News’ massive reach will be able to pay in VERSE. They will be incentivized to do so because they will receive discounts on their advertisement packages.
What is the synergy created
Many people who start their journey into the crypto space by reading content on Bitcoin.com News eventually discover ways to interact with the decentralized economy. Bitcoin.com’s powerful suite of tools is a natural choice for these people. The integration of Verse into the Bitcoin.com ecosystem bolsters its value proposition, leading to greater adoption and, again, more economic freedom.
While paying for media packages in Verse may be used by a relatively small number of people, the amount of money they will spend is disproportionately high. This makes it an important utility of Verse.
Conclusion
Bitcoin.com’s current ecosystem offering ideally positions it to become a key Web3 hub. It’s your place to buy/sell/swap crypto, get the latest crypto news, and dive deeper into the applications unlocked by DeFi and the benefits they will offer. Integrating Verse into the Bitcoin.com ecosystem improves its value proposition and benefits users, supercharging the creation of economic freedom. But we’re just getting started.
This year we’ll be introducing the Bitcoin.com Card, and Verse will of course be part of it. You’ll be able to earn VERSE just for using the card, and you’ll be eligible for reduced fees and additional benefits if you hold VERSE.
Integration of VERSE into an NFT marketplace is also on our near-term radar. This will enable people to earn VERSE by trading on select marketplaces.
The Verse token sale is currently live at getverse.com and will run until November 30 or the goal is reached.
