Bibox Token PriceBIXInactive

What is Bibox Token (BIX)?

Bibox Token (BIX) is the native utility cryptocurrency of the Bibox exchange platform. Built on the Ethereum blockchain as an ERC-20 token, BIX serves as the foundation of a unique ecosystem that offers a range of benefits to its holders. Bibox positions itself as the world's first AI-based digital asset trading platform, providing secure, stable, and trustworthy trading services for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), BIX, NEO, EOS, USDT, GUSD, BCH, ETC, and other digital currencies. The exchange was jointly established by a group of senior experts enthusiastic about blockchain and aims to simplify operations while stabilizing transactions through advanced technology. The total supply of BIX is 235,972,808 tokens. The project has undergone a contract migration from an old contract to a new contract, with the official announcement referenced on CoinMarketCap. BIX is also described as a quality project token launched by the Bibox Lab Incubator, which supports top blockchain projects.

Key Specifications & Tokenomics

• Name: Bibox Token
• Ticker / Symbol: BIX
• Platform / Blockchain: Ethereum
• Token Standard: ERC-20
• Token Type: Utility Token
• Decimals: 18
• Contract Address: 0xb3104b4b9da82025e8b9f8fb28b3553ce2f67069
• Explorers: etherscan.io
• Tags: Centralized Exchange (CEX) Token, Marketplace, Discount Token
• CertiK Rating: 2.8
• Total Supply: 235,972,808 BIX
• Circulating Supply: 117,399,166 BIX
• Max Supply: Not specified
• Official Website: www.bibox.com/en
• Whitepaper: Bibox Whitepaper (dated Oct. 1, 2017)

Who created Bibox Token?

Bibox was established in 2017 by Aries Wang, Jeffrey Lei, Kevin Ma, Guojie Liu, and Wanlin Wang. Kevin Ma, the Founder of Bibox, previously worked at Huawei Technologies where he served as a Software Engineer for 3 years and built up his expertise before making the switch to Bibox. Aries Wang, Jeffrey Lei, Guojie Liu, and Wanlin Wang are listed as co-founders of Bibox. The team behind Bibox includes the co-founder of OKCoin, one of China's most successful Bitcoin exchanges. Bibox has raised a total of $1 million over the course of 3 rounds. The project was founded in 2017, with the Bibox exchange platform officially launched in November 2017.

How does Bibox Token work?

BIX operates on the Ethereum platform as an ERC-20 utility token. Bibox will apply Ethereum Smart Contract for BIX Token selling, with the offer lasting 30 days. All unsold BIX Token will be destroyed. The Bibox exchange itself is described as the world's first AI-based digital asset trading platform, using advanced technologies to stabilize transactions and simplify operations, offering a more efficient way of managing assets than traditional methods without sacrificing quality or security standards. The platform provides secure, stable, and trustworthy trading services for a wide range of digital currencies. A certain amount of BIX will be bought back and burned regularly using the platform's profit, a model similar to other exchanges. The detailed information on the buyback and burn process is provided on the exchange website.

What makes Bibox Token unique and valuable?

Bibox Token distinguishes itself through its integration with an AI-powered trading platform, positioning Bibox as the first artificial intelligence platform for the digital asset exchange industry. The token provides multiple layers of value to its holders, including rewards and dividends on holdings, trading fee discounts, and access to new applications developed within the Bibox ecosystem. The Treasure Box Program allows BIX token holders to lock their tokens to receive not only the locked amount of BIX but also an incentive, with the program guaranteeing that all participants will make money as long as they stay in it until the end date. Additionally, Bibox Orbit, the IEO launchpad from the Bibox exchange, requires only BIX token holders to participate in listed projects. The community governance model allows everyone from the community to vote to determine which tokens will be listed on the Bibox exchange by committing a certain BIX amount.

What is Bibox Token used for?

BIX serves multiple functions within the Bibox ecosystem. Holding BIX in a Bibox account provides rewards and dividends on holdings. Bibox Token holders can use their tokens to enjoy discounts and reduced fees when trading on the Bibox platform. Community members can vote to determine which tokens will be listed on the Bibox exchange by committing a certain BIX amount for the process. A certain amount of BIX will be bought back and burned regularly using the platform's profit. The Treasure Box Program allows holders to lock their tokens to receive the locked amount of BIX plus an incentive. BIX holders are also entitled to access new applications developed within the Bibox ecosystem. Furthermore, being a BIX token holder is the primary requirement for participating in Bibox Orbit, the IEO launchpad from the Bibox exchange.

How Is the Bibox Token ecosystem developing?

The Bibox ecosystem includes several core components. Bibox Exchange serves as the core platform, a digital asset exchange launched in November 2017. Bibox Orbit functions as the IEO launchpad from the Bibox exchange. Bibox Lab Incubator supports top blockchain projects, with BIX described as a quality project token launched by Bibox Lab Incubator. BIX can be bought and stored via Coin98 products, including Coin98 Exchange and Coin98 Wallet. According to CoinMarketCap, Bibox's trading volume had declined significantly to only $270 million USD as of Aug. 23, 2021, after Bibox was once the top exchange in China. The Bibox Token has undergone a contract migration from an old contract to a new contract. BIX is listed on major exchanges and trading platforms, with trading on 15 active markets per Yahoo Finance.

How to mine Bibox Token?

BIX is a utility token, so mining is not possible. There is no mining mechanism for Bibox Token. Instead of traditional mining, BIX operates on the Ethereum blockchain as an ERC-20 token. The token economy is sustained through the platform's profit-driven buyback and burn mechanism, where a certain amount of BIX is bought back and burned regularly using the platform's profit. Additionally, all unsold BIX Token from the token sale will be destroyed. Token holders can participate in the ecosystem through holding, trading, voting, and locking tokens in programs such as the Treasure Box Program to receive incentives.

How to keep your Bibox Token safe?

The security of Bibox Token (BIX) combines technological measures and partnerships with security firms to ensure the safety of users' assets. The token leverages a decentralized, non-custodial platform, meaning users retain full control over their wallets and are required to confirm each transaction personally. This significantly reduces the risk of unauthorized access to funds, as there is no central point of control that could be compromised. Bibox Token has undergone multiple security audits conducted by reputable firms in the blockchain security domain. These audits assess the token's smart contracts and underlying technology for vulnerabilities, ensuring the platform adheres to the highest security standards. The CertiK Rating for Bibox Token is 2.8. Users can store BIX using Coin98 Wallet by opening the wallet, clicking Receive on the home screen, searching for BIX Token, clicking on the correct result, and copying the wallet address to send BIX to this address. Potential investors are advised to conduct thorough research and consider the inherent volatility and risks associated with the cryptocurrency market before making investment decisions. Users should also check the official announcement regarding the contract migration for details.