BICONOMY EXCHANGE AMA WITH CEO April 29th, 2022 — UPDATES AND PLANS🚀🔥

5 min readApr 29, 2022

Dear Biconomy Exchange Users and Community!
At 9AM utc today, our Exchnage CEO hosted a YouTube AMA with the community. It was great as well!

Full AMA Link: https://youtu.be/ULzf_ytT3pQ

We are aware most people in our community and users of Exchnage don’t know English well. Here is the AMA summary, which will help you understand the whole thing. You can easily translate the text and find all the information you need👍

Biconomy Exchange Recent Updates

A lot was accomplished in April in terms of Biconomy Exchange’s products, including the release of BIT DAO, $BIT Token listing on MEXC, Banxa Payments Launched, and many new token listings on Biconomy Exchange.

Additionally, Biconomy recently made 2nd manual burn of $BIT tokens in Q1 2022.
The Burning Amount of $BIT token 20,100,000,000 $BIT, aprox 168,840 USD — 2.01% from The Total $BIT Supply.

The Total Amount Of Burned token is now more than 27% — https://bscscan.com/token/0xc864019047b864b6ab609a968ae2725dfaee808a?a=0x0000000000000000000000000000000000000000
https://bscscan.com/token/0xc864019047b864b6ab609a968ae2725dfaee808a?a=0x000000000000000000000000000000000000dead

🔥What is the Biconomy Burning Scheme?🔥

Unlike other exchanges, we are different. In order to develop our exchange token economy, we have created an innovative burning scheme.

There are 3 ways how we made the Burning.

#Manual burning, which takes place every quarter, is carried out by the method of full or partial buyback of BIT tokens from the market. This is done by using 50 percent of the profits earned by the exchange.

Manual burning address

Method 2. Deflationary model. This is the automatic burning of the BIT Token, prescribed in its smart contract. This is the fastest and most efficient method of burning since any on-chain BIT transaction is taxed at 6% and the entire amount is immediately burned.

Deflationary Burn Address

Method 3. Additional burning from the profits.

After the launch of futures trading on the exchange, we also intend to direct 50% of the profits received to the additional burning of BIT tokens.

This burn will be added to the manual quarterly burn.

These burning methods were created from the very beginning to ensure the deflation of the token and increase its useful utility properties, the stability of the development of the economic model of the BIT Token.

This means that holders of BIT tokens will have not just a token in their hands, but will be able to participate in a full-fledged cryptocurrency market with a huge future and growth potential.

More Details About $BIT token Burning Update 👉 https://t.me/biconomy_Ann/417

🔥🔥🔥

Listings

Biconomy Exchange Token $BIT was listed on World’s Top 30 exchange called MEXC in April, which is a great move for our products development.

Aslo, Biconomy Exchange Listed Lots of Potential Projects Such as Dot,Matic,Hot,Quant,Near,CRO Etc.

Biconomy’s $BIT token Listed in MEXC👉 https://t.me/biconomy_Ann/367

$BIT PRICE UPDATE

Most of You Mainly Our Chinese Community People spreading negativity due to some slight price drop. But you need to understand the Market.

Now we are undergoing an extensive change in the composition of individual investors — the exit old ones and coming of new ones. These are normal phenomena in the market and this will always occur.

Currently The Whole Crypto Market is Not Good At all. So We are seeing some price drop. Please try to understand our situation.

We are Crypto Exchange — its another type of the business. We are not a Project who will run after some days. If you still don’t understand us and Don’t have any trust on us, You better to find out another investment.

We do not provide $BIT Token price predictions — price for $BIT based only on Biconomy Exchange development and we working hard 24/7 to improve and grow🚀

Thanks for understanding🤗

DAO

To Develop Our Exchange With a Democratic Way, We Launched $BITDAO . And Recently We got an Interesting Proposal to Cancel All Dividend and Increase the Burning of $BIT https://www.biconomy.com/dao.
All proposals and votes are conducted and received only from the community — we are interested in the possibility of freedom of speech and choice for everyone!

Opinions were verbally divided, but we did not see enough votes against. Therefore, we are waiting for a new proposal from you against the abolition of dividends, so that it gains more than 100 votes. In this case, dividends will be preserved. Otherwise, dividends will be canceled — you can decide for or against, you have such power and opportunity!

Accroding to the Rule of $DAO we will take decision on it.

ACTIVITIES FOR MAY

We have lots of Activities And new $BIT Listing In May Month.
CEO Will participate in couple conferences.

So try to Be active to Join Our All Kind of Event. It’s an Opportunity to Get Reward as well.

Some Previous Activities We did in April👉

https://t.me/biconomy_Ann/357

https://t.me/biconomy_Ann/360

https://t.me/biconomy_Ann/368

Staking Update

Well We got this Question Many times That, “When Staking,When Next Staking Etc”. We wanna inform You that The Staking Products is under Development.
We are making whole Wealth Management Platftorm, where you will able stake $BIT and many top coins🚀
So Please be Patient and stay with us. We will Publish Announcement if we get any further Update from Our Team.

🔥As always, thank you for your tremendous support🔥
🤗Feel free to ask any questions anytime in our Telegram chat https://t.me/Biconomy_Global🤗

🔥 DOWNLOAD OUR OFFICIAL ANDROID APP 🔥
https://play.google.com/store/apps/details?id=com.biconomy.ex

🔥 DOWNLOAD OUR OFFICIAL IOS APP 🔥
https://apps.apple.com/app/biconomy/id1486151349

🚀Join Us🚀

Telegram : https://t.me/Biconomy_Global

Official website: https://biconomy.com/

Twitter: https://twitter.com/Biconomy_Global?s=09

Facebook: https://www.facebook.com/BiconomyGlobal/

LinkedIn: https://www.linkedin.com/company/biconomyexchange

Medium: https://biconomyexchange.medium.com/

YouTube: https://youtube.com/channel/UCUr7xvFfBy8zQR0EB_cbjBQ

Reddit :https://www.reddit.com/r/biconomyExchange/