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BITSEC Partners with A Betting Platform, BTS will Empower Communities

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© Reuters. BITSEC Partners with A Betting Platform, BTS will Empower Communities

In a crypto-verse that’s increasingly pro profit and blindly FOMOing, forgetting the ideals of blockchain focus on empowerment and emancipating users from the clutches of poverty, BITSEC is determined to change the narrative.

Posting on Twitter (NYSE:TWTR), the platform said it is releasing what will be the “biggest utility token” on the secure, highly adopted BNB Chain.

BITSEC is Releasing Bitcoin 2.0

Preceding this announcement, BITSEC released its whitepaper on May 12, 2022. Typical of any whitepaper, the platform’s creators are determined to distill all complexities and lay down their vision-mission statement clearly for all users across the globe. The paper describes their grand plans and breaks down the project’s tokenomics.

Even amid the global financial crisis that has seen the crypto market shrink by double digits, BITSEC remains bullish. Behind their confidence is a well-architected plan and zeal to exceed its global fan base expectations.

Mirroring the visions of Bitcoin’s creator, BITSEC is confident its solutions enhance the digital gold to qualify as Bitcoin 2.0, complete with a fully functional ecosystem to achieve equity and fair distribution of wealth.

BITSEC’s Components: A DEX, Launching Pad, and a High Yielding Staking Program

BITSEC consists of four critical components, creating a cyclic system whose synergy benefits platform users. Central will be the BITSEC’s BTS BEP-20 fungible token deployed on the BNB Chain serving governance and utility roles. There will be 21 million BTS in total supply, with an initial circulating supply of 7.3 million BTS.

The launch from BNB Chain is by design and meant to relieve users from the high trading fees experienced in alternative networks like Ethereum. At the same time, the BNB Chain will satisfactorily handle the resource demands from BITSEC.

Besides, BITSEC plans to launch a decentralized exchange (DEX) called Bitswap, enabling fast, low-fee swapping of its native coins with other BEP-20 tokens. Through the secure DEX, it would be quick and convenient to trade. Meanwhile, the swapping platform would boost BTSs liquidity, a net positive for holders.

Additionally, aware of the fast-evolving nature of crypto, the fast adoption of the technology, and the high number of ambitious developers with solid solutions to present problems, BITSEC will create a launching pad dubbed cryptogifting.live. Their goal is for ambitious projects to receive necessary funding support from investors, subsequently empowering the community and helping accelerate the adoption of superior blockchain-based solutions.

Finally, BITSEC will also support staking directly on its website. Users are free to buy a staking package that yields high rewards of between one and two percent, compounded daily, and available for withdrawal anytime. At the same time, users who refer others to BITSEC’s staking will be rewarded through their referral program.

BTS Utility Functions

BTS is used to incentivize liquidity provision on the platform’s decentralized exchange (DEX) to serve its utilitarian purposes.

The platform has also partnered with over 600 technology companies, enabling BITSEC token holders to pay for mobile and data recharge and payment of other utility bills in over 190 countries.

Also, the token can be used for shopping in select retail outlets, paying insurance and Amazon (NASDAQ:AMZN) Gift Cards, and as a payment method in partner betting companies.

Thus far, BITSEC has partnered with Sportybit.io, a betting platform with an exciting referral program. The success of Sportybit.io and especially if they gnaw a significant stake in the over $66 billion global betting market, will boost BITSEC’s baseline.

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Cryptocurrency

Russia will inevitably legalize crypto payments says trade minister

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Russia will inevitably legalize crypto payments says trade minister

Russia will legalize crypto payments “sooner or later” according to the Ministry of Industry and Trade of the Russian Federation, Denis Manturov.

The country’s government has been exploring various crypto adoption plays throughout 2022, but is yet to finalize any concrete policy concerning digital asset payments. However, its legalization has been recommended by Russia’s finance ministry via its “On Digital Currency” bill from April.

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‘Grim Reapers’ financial crimes unit revived to investigate Terra collapse

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‘Grim Reapers’ financial crimes unit revived to investigate Terra collapse

Legal troubles are mounting for the co-founder of failed Terra crypto project Do Kwon as the South Korean government revives the dormant “Grim Reapers of Yeoui-do” to investigate Terra’s fall.

The special investigative and prosecutorial team consists of members from various financial regulators, and is designed to prosecute securities fraud and unfair trading schemes. Potentially at risk are co-founders Do Kwon and Shin Hyun-seong, along with core members of the Terra team. Yeoui-do is the financial center of Seoul.

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$3B flows to Metaverse and Web3 gaming this month as A16z’s tips in $600M

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$3B flows to Metaverse and Web3 gaming this month as A16z’s tips in $600M

Venture capital firm Andreessen Horowitz (a16z) has launched a $600 million fund dedicated to gaming startups with a focus on Web3 saying it believes “games infrastructure and technologies will be key building blocks of the Metaverse.”

Dubbed “GAMES FUND ONE” the fund will invest in three main areas: game studios, consumer applications which support player communities with Discord used as an example, and gaming infrastructure providers.

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