Bitget lists Qubic (QUBIC), the AI-based Layer 1 blockchain on Spot market - Chainwire

29Jun

Bitget lists Qubic (QUBIC), the AI-based Layer 1 blockchain on Spot market

Victoria, Seychelles, June 29th, 2024, Chainwire

Bitget, the world’s leading cryptocurrency exchange and Web3 company, has announced adding QUBIC tokens from the innovative Proof-of-Work based blockchain ecosystem Qubic. The token is now listed on spot corridor and trading will go live at 10 AM UTC, 1st July, 20204.

Qubic’s Smart Contracts differ significantly from others. Each contract must pass a Quorum proposal vote, ensuring only useful and legitimate contracts are added. When a Smart Contract is accepted, it’s launched via an IPO with 676 shares.

The QUBIC tokens spent on the shares is locked into the Smart Contract, reducing QUBIC’s circulating supply and paying for contract execution. Shareholders earn passive income from contract fees. The contract is self-sustaining until the locked QUBIC tokens is depleted, after which a portion of shareholder fees funds further execution. The first three Smart Contracts alone burned over 10.5 trillion QUBIC.

The Quorum protocol operates with 676 Computors (Validators) handling transactions, executing smart contracts, securing the blockchain, and liaising with Oracle Machines. It ensures finality and reliability by requiring over two-thirds of Computors to agree on a result. Qubic achieves this with an average block-time of 7 seconds due to its efficient “bare metal” code execution.

Bitget lists high potential tokens in its innovation zone for spot trading. This provides improved accessibility to emerging DeFi ecosystems. The inclusion of QUBIC in Bitget’s spot helps users engage in the initial launch phases of the trending tokens.

With a focus on providing users with opportunities to invest in popular and valuable projects, Bitget is now one of the top 10 crypto spot trading platforms with over 900 coins and 1000+ pairs. Bitget continues to lead in the crypto derivatives market, with its Open Interest (OI) indicator surging past $6 billion last month, securing a substantial 25% share of the total market. In the past 30 days, Bitget recorded the highest monthly inflow among all centralized exchanges, with $1.3 billion in new capital, strengthening its position as an industry leader.

For more information about QUBIC tokens on spot, please visit here.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

For media inquiries, please contact: media@bitget.com