The BiKi token (BIKI) is performing admirably with other platform currencies such as BNB, OKB and HT, which have raked in tidy profits for traders the first half of the year. BIKI reached a peak of 0.1394 USDT on July 5th, which is an increase of 44 times over the past 6 months, indicating investor demand.
The token follows the principles of “daily buyback, quarterly burn, tokens in locked position, steady deflation” which bring value to the token. It implements these principles through a three-step process:
- Reduced Supply from Buybacks
BiKi.com uses 100% of its platform fees to repurchase and burn the token till it is brought down to a supply of 100 million. Its initial token issuance was 1 billion. BiKi continues to repurchase tokens on a daily basis and burns them quarterly.
This apportioned repurchase is five times that of BNB and HT and indicates BiKi’s commitment to creating value for its platform currency. It also reveals BiKi’s intentions of positioning BIKI as a leading platform token. BiKi’s recent coin burn on July 1st destroyed 70 million BIKI, a market value of approximately USD 7.5 million. So far, a total of 344 million BIKI has been burned, accounting for 34.4% of the total supply.
- Lowered Liquidity from Locked-in Partner Positions
While BiKi’s Community Partner Program offers attractive incentives like 60% cashback on trading fees together with bonus rewards, dividends and token airdrops. It also requires its partners to lock in a minimum of 30,000 BIKI for a year (with 10% interest nonetheless). The locked position prevents inflationary pressures on the BIKI token prices and economic bubbles from forming. Official reports state that there are presently locked-in positions of more than 50 million BIKI, which accounts for 15% of the overall circulation.The program incentives also attract an influx of partner members, a good source of investor traffic to the platform.
These steps reduce the total token supply in circulation and subsequently increases the token’s value, thereby creating demand for it.
- Increased Demand from Additional Use Case Scenarios
BiKi.com recognizes that the value of a platform token is tied to the developments on the platform and has announced that it will launch a BIKI transaction pair in the future. This means projects will raise funds in BIKI instead of in ETH, another move that again increases demand and value for the token.
Unlike many other platforms who consider trading fees as profits, BiKi.com is devoting 100% of its fees to buybacks with the sole mission of raising the value of the BIKI token. Quality tokens strengthen their namesake exchanges and in turn attract more users and investors to the platform.
So far the strategies BiKi has implemented for its token seems to have given it a strong start. Decreased supply has led to increased demand, and the token’s generally upward trajectory in value seems poised to continue. Their strategy has successfully attracted more users and investors to the platform which has resulted in more community partners (and in turn more referrals) who believe in the rising value of the locked-in BIKI token. This is a self-sustaining cycle that guarantees the vitality of the platform. All of this is certainly good news for listed projects who can tap into the strong framework and growing user base of the exchange.
Headquartered in Singapore, BiKi.com is a global cryptocurrency exchange that provides a digital assets platform for trading more than 100 cryptocurrencies and 220 trading pairs. Since beginning operations in June 2018, BiKi.com is considered one of the fastest-growing cryptocurrency exchanges in the world with an accumulated 1.5 million registered users, 130,000 daily active users, and daily trading volumes of USDT 20 – 100 million.