The advent of DeFi (decentralized finance) has brought an entirely new exchange system. It’s safe to say that it has changed the way finance and business can be conducted. One thing is for sure, DeFi is here to stay. Nevertheless, there is still a need for cheaper and faster transactions, better security, user-friendly interfaces and a legally compliant level of data protection. This is where Bicory Finance comes in.
What is Bictory Finance?
Bictory Finance is a holistic solution to many problems prevalent in the DeFi space. The company was founded in 2019 by highly experienced entrepreneurs, developers, product designers, blockchain marketers and business strategists.
Bictory Finance aims to offer a frictionless Web3 experience across different blockchains but within a single ecosystem. Although designed to be blockchain-agnostic at the time of writing, the company uses the Concordium blockchain to facilitate its services.
Technically, this blockchain network was chosen for its high throughput, low fees, novel zk-ID layer mechanism and fast finality layer. Bictory Finance has also received two grants for its NFT marketplace and official Concordium Naming Service (CNS) on its journey with Concordium.
Concordium is a permissionless, public blockchain architecture that prioritizes accountability and privacy. It is designed to be fast, secure, and economical, and its novel zk identity layer enables de-anonymization of bad network participants, legally and consensually approved by the network through reputable third-party ID providers running an on-chain -Provide verification while preserving privacy.
The Nakamoto-style Consensus blockchain and a Finality layer for fast transaction confirmation make up Concordium’s two-tier Consensus system, and the blockchain will enable communication and interoperability between shards and between Concordium and other blockchains.
Tokenomics by Victory Finance
Bictory Finance’s native token is $BT. It is intended to be used only as an interoperable utility token and is a portable representation of the attributed governance and utility functions provided in the Bicory Finance protocol/code. $BT is a useful multi-utility token used as a decentralized medium of exchange on Bictory Finance. The purpose of launching $BT is to provide players engaged in the Bictory Finance ecosystem with a simple and secure payment and settlement method without the use of intermediaries such as centralized third parties/institutions/credit.
The $BT token also has multiple use cases such as staking, for liquidity pools, payment of transaction fees, discounted listing and trading fees, registration of a CCD domain name on CNS, NFT minting and launchpad participation on BictoryNFT, and BictoryNFT rewards.
The circulating supply of BT Dollars is capped at 100 million tokens and is deflationary. The token is an SPL (Solana) type. The distribution of tokens is shown in the image below.
Source: Bistory.io
It is not, and is not intended to be, a form of payment accepted by the general public (or any portion of the public) as payment for goods or services, or as a means of paying off debt. Nor is it intended or designed to be used by anyone as payment for any goods or services other than those offered exclusively by the issuer.
products available
The bictory finance platform includes a variety of financial products, such as: B. a Centralized Exchange (CEX), a Decentralized Exchange (DEX), a Multi-Chain NFT Marketplace (On Solana & Concordium), Concordium Name Service (CNS) and an Oncoming DEX.
BictoryEX, the centralized exchange, allows users to trade futures and spot assets, use portfolio management tools and place a variety of sophisticated order types for faster and cheaper trading. BictoryEX is developed with strong technologies, excellent UI/UX and strong security mechanism to protect consumers from hacking and money loss.
Source: Bistory.io
BictoryEX will use Concordium’s protocol-level ID layer to streamline users’ onboarding process and maintain their privacy, even from centralized exchanges. This arrangement of the on-chain KYC process lowers the operating costs of the exchange and makes the fees on BictoryEX more competitive and attractive.
To advance the community and NFT culture, the NFT platform brings together artists, athletes, celebrities, companies, NFT collectors and digital natives. In addition to these features, a premium NFT collection called TerrestriaX will be available. NFT holders receive benefits, discounts and special access to the products offered by Bictory.
Source: Bistory.io
The Concordium Name Service offers custom .ccd Web3 domains to replace long hexadecimal wallet addresses. It is the Concordium blockchain’s wallet name service that increases its usability by giving users the preference to own customized wallet names for transactions, dapp logins and decentralized websites.
Source: Bistory.io
All services provided by Bictory Finance will eventually be merged into one application in the near future to fully form the inclusivity theme of the project and promote proximity to web3 solutions for user experience.
Product URLs
What problems does Bicory Finance solve?
Web3 users are large and diverse: a group of beginners and experienced. Many platforms often cater to one type of user or another. However, Bictory Finance aims to include all types of investors, users and builders. The user-friendly interface makes it easy for beginners to learn and also offers a kick for experienced users. They solve the problem of disorganization by covering the needs of simple and complex Web3 users.
Although they offer a wide range of products, they promote uniformity in service delivery.
The platform also reduces the time a user spends on research by providing all the necessary information in one place. In addition, they provide financial help in the form of discounts and partnerships.
Community is a core element in the crypto space. With this in mind, the platform also aims to build a heterogeneous mix of people in the Web3 space. This will make overcoming problems and the ability to find people easier and less time consuming.
Initial Exchange Offering (IEO) and Token Generation Event (TGE)
According to Bictory Finance, IEO and IDO for the project would take place on November 4, 2022 on the following three platforms:
- BitForex, 2:00 UTC. See token page.
- P2B, 11:00 UTC. See token page.
- Communities, 9:00 UTC. See token page.
For more information about Bictory Finance, visit their website, Twitter, Medium, Telegram, Telegram News, LinkedIn, Discord or YouTube.
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