Verse utility and rewards
Verse rewards users in the Bitcoin.com ecosystem while also providing a range of additional utilities. Anyone will be able to earn Verse tokens simply by using Bitcoin.com’s products and services. Holders of Verse tokens will in turn be able to unlock extra rewards and discounts along multiple tiers.
Here are some of the ways Verse will be used, and the rewards associated with that use:
Providing liquidity on the Verse DEX
People who deposit into liquidity pools are known as “liquidity providers.” By depositing cryptocurrencies or tokens traded on the Verse DEX into liquidity pools, these liquidity providers can earn a portion of the DEX trading fees for those assets. Adding liquidity is rewarded because liquidity is important for an exchange’s health. Liquidity providers receive liquidity pool deposit tokens, which can be redeemed for VERSE and other cryptocurrencies.
Read more: What is liquidity?
Yield farming
Liquidity providers can yield farm their Verse DEX liquidity pool deposit tokens to receive additional rewards in the form of the VERSE token.
Trading
Exchange VERSE for other cryptoassets via the Verse DEX. Earn VERSE in the form of cashback for buying, selling, and swapping cryptoassets via the Bitcoin.com App.
Staking
By staking tokens in Verse staking contracts, you can claim various rewards proportional to the amount of tokens multiplied by time staked. When you stake VERSE, you are essentially locking those tokens — they can’t be used for anything else while staked.
Payments
Available in 2022, the Bitcoin.com Card will have many crypto reward perks. Spending crypto with the Bitcoin.com Card will earn you cash back rewards in the form of VERSE. Additionally, if you hold a certain amount of VERSE, you’ll be eligible for card perks such as reduced card fees. You’ll also be able to earn VERSE when you buy gift cards on giftcards.bitcoin.com and pay for Bitcoin.com and Verse merchandise using VERSE.
Collateral
Collateral is important in borrowing and lending markets. Which assets can be used for collateral (e.g., BTC, ETH, USDT, etc…) is an important consideration because it gives you more opportunities with your investments. Being required to use stablecoins (USDT, USDTC, FlexUSD) limits the productive use of that collateral. Because VERSE is an ERC-20 token, you’ll be able to use it as collateral in lending pools or lend VERSE to earn rewards.
Referral Program
With the Bitcoin.com referral program, you’ll be able to earn VERSE when referrals make their first purchase using fiat. You’ll also be able to earn VERSE when referrals trade on Bitcoin.com Exchange.
News
News.bitcoin.com gets millions of views. People and companies who want to advertise on News will soon be able to pay for press releases and ads (media packages) in VERSE at a discount.
Education and insights
Get exclusive content. Special market insights, reports, and courses will be accessible to VERSE stakers and available for purchase using VERSE.
Read more: Get Started educating yourself about crypto.
NFT marketplace
You’ll be able to earn VERSE when you trade on select integrated NFT Marketplaces.
As the Bitcoin.com ecosystem continues to grow, so too will the opportunities for rewards and utility. Stay tuned for further updates!
