As of this writing, 316 million VERSEs worth over $53,000 have been spent. The total number of VERSEs burned is currently over 14 billion, representing 52% of the current circulating supply and 6.7% of the total supply of Bitcoin.com ecosystem tokens. You can track the burning of VERSE tokens here in the Verse Burn Engine.
We have also started providing transparency in the buyback process. You can now track on-chain buybacks on the Verse Burn Engine dashboard here. The total amount of buybacks now exceeds 3.7 billion VERSE, representing more than $628,000 at the time of writing.
Burning a token means permanently removing or destroying a token, thereby reducing the total supply. Burnt tokens cannot be traded or used.
There are currently three main types of burns.
Bitcoin.com purchases VERSE from Bitcoin.com's decentralized exchange Verse DEX, a third-party DEX, a centralized exchange, or the open market for over-the-counter (OTC) trading. This VERSE is then sent to the Verse Burn Engine and accumulated with other VERSE tokens marked for writing (see below) until a write is triggered. Burning VERSE reduces the overall token supply and creates deflationary pressure on VERSE.
This source is sourced from the Ecosystem Fund to the Verse Burn Engine in a manner proportional to specific activity within the Verse/Bitcoin.com ecosystem, and in a manner that ensures that reductions in supply are sustainable over a lifetime. Assign. of tokens. This decrease in supply is also deflationary and has a scarcity effect on VERSE.
Anyone can contribute VERSE tokens to the Verse Burn Engine. These tokens are burned when someone triggers the engine.
Verse Burn Engine is a decentralized application (DApp) that allows anyone to trigger a “burn” of VERSE tokens. It works like this: The Verse Burn Engine will gradually fill up your VERSE tokens over time based on a variety of factors (see below). Meanwhile, anyone can start writing tokens in the engine by sending 10,000 VERSE. Learn more about Verse Burn Engine and how to use it. here.
Launched in December 2022, VERSE is Bitcoin.com's benefit and utility token. You can earn VERSE by using Bitcoin.com's products, especially the self-custodial Bitcoin.com Wallet app. With VERSE, you can earn Bitcoin at 30% APY. Learn more about how to earn Bitcoin with VERSE here.
The new partnership will also level up VERSE utility and provide holders with the opportunity to earn additional tokens from collaborations with other crypto projects. More rewards, more opportunities, and community cross-pollination will come.
Additionally, tiered rewards are also in the works. The longer you hold VERSE, the greater the benefits. It's all about building a loyal, long-term community that drives the ecosystem forward.
VERSE is more than just a token. A gateway to making cryptocurrencies fun, rewarding, and accessible to everyone.
user outside In the US and UK, you can purchase VERSE using credit cards, bank transfers, and more on the Bitcoin.com Wallet app here.
Anyone around the world can purchase VERSE using a credit card, Apple Pay, Google Pay, or Cash App here.
Securely manage your VERSE and other cryptocurrencies using the Bitcoin.com wallet app.
Users outside the US and UK can use the Bitcoin.com Wallet app here to exchange their cryptocurrencies to VERSE. Set up your swap with just a few taps and receive your VERSE in seconds, storing it in your wallet. This is the true nature of cryptocurrencies.
Anyone in the world can swap to VERSE without permission on Bitcoin.com's decentralized exchange Verse DEX. With multi-chain swaps enabled, swapping to VERSE has never been easier.
