Following Successful BCUT Token Listing, bitsCrunch Launches Delegation Incentive Program
Munich, Germany, March 5th, 2024, Chainwire
bitsCrunch, the decentralized AI-powered Web3 analytics network, has announced the launch of its Delegation Incentive Program, enabling BCUT token holders to delegate their tokens to operators, boosting the network’s security while also aligning the interests of holders with the network.
By delegating BCUT tokens, holders can contribute to the decentralization of the bitsCrunch network, which makes it more resistant to attacks and manipulation. When holders delegate tokens, their rewards are automatically staked, allowing them to compound their earnings over time. BCUT was recently listed on ByBit, KuCoin, Gate.io, Crypto.com, CoinList, CoinList Pro and Uniswap.
To incentivize early participation and reward its community, bitsCrunch has announced the following APY Boost Schedule: up until March 15th: 100%. April: 50%. May: 25%. Beyond May, the standard 15-20% APY rate will apply. If users currently hold BCUT tokens on the Ethereum network, they will need to bridge them to Polygon first in order to be eligible. The official bridging guide provides details on how to do so: https://docs.bitscrunch.com/docs/network/bridging
Additionally, bitsCrunch will be holding a raffle on 20th March 2024, with up to 3000 BCUT up for grabs for eligible delegators, who must maintain a minimum delegation of 500 BCUT within the network to participate. Rewards will be distributed on 22nd March 2024, and will be divided into three tiers based on the amount delegated:
Tier 1 (20,000 BCUT or more delegated)
10 randomly selected delegators will each receive 3,000 BCUT.
Tier 2 (less than 20,000 BCUT and more than 5,000 BCUT delegated)
20 randomly selected delegators will each receive 1,000 BCUT.
Tier 3 (between 5,000 BCUT to 500 BCUT delegated)
40 randomly selected delegators will each receive 250 BCUT.
The bitsCrunch Network offers detailed forensic data on NFTs, enabling users to identify potential risks, fraudulent activities, and maintain security. The network empowers users to make informed decisions about their investment with in-depth analytics. For example, the network leverages AI technology to provide accurate price estimations for NFT tokens, among other insights. The bitsCrunch Network supports data from various blockchains and NFT marketplaces, providing users with a comprehensive and unified source of information.
The current landscape of blockchain analytics and forensics is dominated by centralized systems, often constrained due to financial priorities. The bitsCrunch vision centers around decentralizing blockchain analytics and forensics data for the digital assets on the public blockchain. BCUT plays a key role in achieving this vision, ensuring a safe and efficient network that operates independently, diminishing the reliance on external volatile entities. The BCUT token facilitates seamless network operations functioning through the blend of cryptographic techniques and economic incentives, employed to promote adoption and maintain the integrity of the network.
Last year, bitsCrunch announced a private funding round of $3.6 million, led by Animoca Brands with participation from Coinbase Ventures, Crypto.com Capital, Polygon Studios, as well as Borderless Capital, Bison Funds, Mapleblock, Morning Star Ventures, and Shima Capital. Angel investors from Ex-CxO Huobi, CxOs of Biconomy, Frontier, and experts from JP Morgan, Goldman Sachs, and Facebook also participated in the round. Also their Strategic round of $2.4M last year was led by Hashkey Capital, with participation from Chainlink, Gate Labs, Cypher Capital, CoinSwitch Ventures, and a few others. In total, bitsCrunch has raised more than 12M USD from various Venture Capitalists and Community sale on Coinlist.
Vijay Pravin, Founder and CEO of bitsCrunch, said: “Following a very successful mainnet and token launch, we’re delighted to introduce our Delegation Incentive Program – geared towards rewarding our rapidly expanding community while enhancing the security of our platform. When holders delegate their tokens, it creates a fantastic synergy in which their interests are firmly aligned with the growth and success of the bitsCrunch network. We encourage everyone to participate in delegation and contribute to the future of the bitsCrunch network, as we prepare for a vibrant phase of activity in the months ahead.”
The following document provides a comprehensive step-by-step guide through the entire delegation process: https://docs.bitscrunch.com/docs/roles/delegating
The following tutorial video provides a visual demonstration on how to delegate $BCUT tokens: https://x.com/staking4all/status/1762038049163141193
uses can learn more about bitsCrunch, by visiting the official website here. To stay up to date on the latest bitsCrunch developments, updates and exclusive content, uses can join the official Telegram channel: https://t.me/bitsCrunch
About bitsCrunch:
bitsCrunch is on a mission to elevate the global Web3 ecosystem by forging a safer, more transparent future for NFTs. The network aims to achieve this by offering unparalleled NFT data insights, forensic data, and development tools. At the heart of the solution is the bitsCrunch Network—an AI-enhanced data network that delivers high-quality NFT analytics and forensic data. Accessible via APIs, the network promotes a community-driven ecosystem and encourages diverse application development.
