Media
Bitcoin.com is the premier source for all things crypto. Contact the media team at [email protected] to discuss press releases, sponsored posts, podcasts and other options.
Bitcoin․com to Deploy Verse Development Fund to Expand Ecosystem – Press Release Bitcoin News
press release
PRESS RELEASE. Bitcoin.coma digital ecosystem and secure self-storage platform where users can interact with cryptocurrencies and digital assets accessible and safe.launches the Verse Development Fund, an initiative to accelerate growth and innovation in Bitcoin.com‘s Verse ecosystem. In addition, the fund will strengthen projects that embody Bitcoin.comits ethos of economic freedom and democratized finance.
“Since 2015, Bitcoin.com has been a leader in introducing newcomers to crypto and guiding them along their digital asset investment journeys,” so Bitcoin.com CEO Dennis Jarvis. “So far, we’ve built an incredible portfolio of products and services that are used by over 4 million individuals every month. The Verse Development Fund will be the instrument by which we harness the energy of this diverse and passionate community to build an even stronger ecosystem with even more mainstream appeal .”
The fund, which will begin accepting applications from developers and other ecosystem participants in Q1 2023will begin by focusing on decentralized applications (dApps), integrations, projects and events that support Bitcoin.com‘s Vers community.
VERSE, Bitcoin.com‘s reward and utility token, is a cross-chain token built on the ERC-20 standard and designed with broad EVM compatibility. VERSE will be integrated into Bitcoin.comits suite of products, which enable individuals to receive rewards for buying, selling, using, exchanging and staying informed about crypto.
“The VERS token, and therefore the entire Vers ecosystem, provides tremendous value by stimulating the uptake of Bitcoin.comtheir products and services, building loyalty and pushing people to dive deeper where there are more opportunities to take advantage of the financial freedom made possible by decentralized finance.” said Lizzie Eng, Lead for Verse Development Fund. “The resources made available by the fund will stimulate innovation and growth within Verset, and more broadly Bitcoin.com community, which makes it even more valuable to the people who use it.”
The VERSE token will launch in Q4 of 2022 after public sale in November.
The fund derives its resources from the VERSE token supply. Strategic buyers, including digital strategies and Blockchain.compurchased 10% of the VERSE token supply for $33.6 million in a private sale completed in May of this year, which reported by Bitcoin.com News. Thirty-four percent of the VERSE token supply is allocated to the Verse Development Fund. Tokens are made available to the Fund on a block-by-block basis linearly over seven years.
The key components i Bitcoin.comits ecosystem includes,
- its award-winning news portal with over 2.5 million monthly active readers;
- easy-to-use web3 multi-chain wallet, consisting of over 34 million wallets; and
- The multi chain Verse DEX: a permissionless exchange where anyone can earn a share of trading fees by funding liquidity pools.
Developers and other ecosystem participants can stay updated on the Verse Development Fund grant application process by visiting https://getverse.com/fund/.
This is a press release. Readers should do their own due diligence before taking any action related to the Promoted Company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Image credit: Shutterstock, Pixabay, Wiki Commons
