Singapore – Global crypto exchange BiKi.com has officially announced both a strategic investment in the XueBi trading platform and also the launch of its platform coin XB on the BiKi platform’s first ever IEO.
As ICOs have died off in the past year, they have been replaced by the tide of IEO fundraising for projects. For most investors, IEOs provide that extra credibility for a project, since it would have gone through KYC and other requirements from the exchange. In addition, at the end of the IEO, the project token is automatically listed on the exchange.
BIKi Invests in XueBi Platform
Just recently, the BiKi Industry Fund invested USD1million on the XueBi trading platform and the two parties have entered into a strategic cooperation where their platforms will complement each other in terms of assets and traffic. Known as the world’s first community federated digital asset trading platform, the XueBi.io platform includes products such as currency trading, OTC trading and ETF trading. It also includes leveraged ETF, an index fund that uses financial derivatives and debt to amplify returns. Traders can sell short or long regardless of market fluctuations; with limited funds, traders can still obtain higher returns without borrowing nor deposits.
XB is the first IEO project for BiKi, where it has launched XueBi (XB) under BiKi Power for XB/USDT pair.
How the BiKi Platform Token Derives its Value
Due to their utility and with exchange backing, platform coins can have more investment value, causing a rise in their popularity.
The BIKI platform coin derives its value from 2 aspects – its utility and the deflationary model. This consists of token buyback and burning to decrease the circulating supply, thereby increasing the value of the token.
- When using the BIKI token to pay for transactions, traders get to enjoy a 25% discount.
- BiKi’s new user system separates users into ordinary and professional users. They are further divided into 7 levels based on BIKI token lock-ins and transaction volumes,. In effect, the more the BIKI token is used and the larger the transaction volume, the lower will the transaction fee be, besides also giving users differentiated transaction bonuses.
- The XB IEO subscription is restricted to users who have an average monthly position greater than 10,000 BIKI. In effect, this means only BIKI token holders and partners can enjoy BiKi’s XB IEO subscription.
- BiKi was the first platform to adopt 100% token buyback and burn compared to 20-30% for other platform tokens. Currently the platform has reached a burn ratio of 39.8%. While this may not seem like a high ratio, it is sustainable. When contract and leverage income are added to the buyback, ultimately, the amount of BIKI tokens burnt is expected to be the highest.
- BiKi’s Community Partners lock BIKI tokens in order to share more platform rights and dividends. The BiKi mining pool offering attractive annualized returns of up to 20% will also lead to more locks of market liquidity.
These implementations continue to drive the demand for the BIKI platform token while the circulating supply continues to deflate, forming a positive feedback for the entire BiKi platform ecosystem. BiKi’s strategy is straightforward – adding utility and deflationary measures to keep boosting the value of the BIKI token.
With competition amongst the exchange platforms extending from spot to contract, IEO to wealth management and mining pools and other areas, the BiKi platform will be ever conscious of being user-centric in its initiatives as it continues to build a blockchain financial center.
Headquartered in Singapore, BiKi.com is a global cryptocurrency exchange ranked Top 20 on CoinMarketCap. BiKi.com provides a digital assets platform for trading more than 150 cryptocurrencies and 280 trading pairs. BiKi.com is focused on providing the safest, most stable and most effective cryptocurrency trading platform. 100% of the transaction fees are used in buyback and burning of platform token, BIKI. Since its official opening in August 2018, BiKi.com is considered one of the fastest-growing cryptocurrency exchanges in the world with an accumulated 2 million registered users, 200,000 daily active users, over 2,000 community partners and 200,000 community members. BiKi.com has received investments from Huobi co-founder Du Jun, Genesis Capital Zhu Huai Yang, FBG Capital, ChainUP and others totaling approximately 10 million USD.