BixBcoin, a peer-to-peer cryptocurrency, has revealed the launch of an investment program in collaboration with the crypto exchange Hotbit. The program is expected to foster the adoption of the BIXB tokens and encourage long-term holding.
According to the report released on Hotbit, BixBcoin holders on the exchange are eligible to take part in the program. The investment program requires participants to stake lock their digital assets in a staking pool for a minimum of 90-days to receive rewards.
BixBcoin has allocated a subscription limit of 120,000 BIXB and participants are required to stake a minimum of BIXB to take part in the program. Furthermore, individual Hotbit accounts are limited to 1300 BIXB and cannot stake more than amount.
BixBcoin has allocated an interest payment of 60.5% APY for all participants and the interests will be deposited to their Hotbit wallets after the expiry period. The blockchain protocol also stated that the incentive program was a way to encourage long term holders of BIXB tokens.
BixBcoin Incentive program follows recent product launches
Apart from staking program BixBcoin has already announced the launch of several products within its ecosystem. Earlier in 2021, the blockchain protocol released BIXBPay a payment API for individuals and businesses to receive payments in cryptocurrencies.
This followed the earlier launches of a decentralized lending protocol “Loanypto” and non-custodial wallet services “BIXB wallet”. At the time, BixBcoin noted that the payment gateway was part of its plans to expand its crypto services to mainstream users.
The blockchain protocol focuses on creating an ecosystem for quick and low-cost transactions using blockchain technology. It is powered by its native token BIXB that enables holders to make transactions on its blockchain and access its products.
BIXB also serves as the governance and holders can vote on proposals and changes to its ecosystem. Currently BIXB is valued at $22.17 and has a market cap of $66 million according to data from CoinMarketCap. The token is also accepted by a few gaming projects including Victory Games and Toto.
The incentive program instituted by BixBcoin appears to be the norm in the crypto industry and it remains to be seen whether it would lead to an increased adoption of its token. This article quotes from CoinSpeaker website.