In line with BiKi’s pledge to use 100% of its platform fees to repurchase and burn the platform token, following the 4 principles of “daily buyback, quarterly burn, tokens in locked position, steady deflation”, the repurchase and burn of the tokens in the first quarter of 2020 has been completed, information is as follows.
- In the first quarter of 2020, the total amount of BIKI burnt was 20.3 million, the average price of repurchase was 0.074 USDT, and the total amount was 1.5022 million USDT. 4.7 million BIKI was repurchased and burnt from contract fee. This quarter, the burnt amount accounts for 5.38% of the total circulation supply;
- BIKI’s initial total supply is 1 billion, and the cumulative repurchase has destroyed 417.8 million. The current total supply is updated to 582.2 million, with a circulation of 376 million, and the uncirculated supply serves the team and foundation, which stands at 206 million. The platform will continue burn the tokens until 100 million BIKI is left;
- The BiKi platform is in its early stages of diversification. A certain period of time will be required before we see the positive outcomes of the new products to support the platform token. Although contract fee is still a small proportion, the average daily transaction volume of the BiKi Perpetual Contract since the beginning of March has surpassed the spot transaction fees and will become a new source of revenue growth.
- The current BIKI token utility includes 15% discount on handling fees, lock-up of 10,000 BIKI or more to become a community partner to obtain two-tier rebates, collateral of 100,000 BIKI to become an OTC merchant, and holding BIKI to obtain user-level transaction fee reduction, etc. In the future, it will continue to diversify its use cases such as via deflation mechanisms, and community systems;
- The TXID of the token burn: https://etherscan.io/tx/0x51685359b1444fbcc96ffb05d705912689d1bb581047b689ce9b7199df66547e
BIKI platform token contract address: https://etherscan.io/token/0x70debcdab2ef20be3d1dbff6a845e9ccb6e46930
- Future Roadmap:
In 2019, BiKi has risen rapidly through a single point of breakthrough. In 2020, BiKi will build on its capabilities to become a global first-tier exchange. The platform will focus on three aspects: 1) continue to strengthen the assets and liquidity of the exchange; 2) rapidly expand the various product businesses to achieve a closed loop user experience; 3) global expansion to create a wide ecosystem. The BIKI platform token is the core value of the BiKi trading platform. It is the world’s most deflationary token. BiKi is the only platform to use 100% of its platform fees to repurchase and burn the platform token, aiming to create a self-growing community ecosystem and extreme deflationary token economy.
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