Bitcoin.com has unveiled an exciting initiative for users of its Wallet app: the launch of VERSE, its ecosystem token. Initially targeted at active Ethereum users, this innovative move follows community approval of an airdrop proposal. CEO Corbin Fraser expressed enthusiasm, stating, “This is just the start. We plan to extend VERSE rewards to Bitcoin, Bitcoin Cash, Avalanche, Polygon, and BNB Smart Chain users, aligning with our mission to make crypto accessible and rewarding.”
The Verse Airdrop and Rewards Program is pivotal in Bitcoin.com’s strategy to foster community engagement and sustainable growth within its ecosystem. Alongside airdrops, Bitcoin.com is developing a quest-based rewards system within its app to guide users from novices to adept participants in decentralized finance.
These initiatives are funded by 35% of the total VERSE token supply, dedicated to ecosystem incentives as outlined in the Verse white paper. The community also plays a crucial role through the Verse Community Governance mechanism, voting on proposals like the recent airdrop initiative.
The successful community vote demonstrated overwhelming support, with 99.59% in favor. As a result, Bitcoin.com is moving forward with the Ethereum airdrop, with specific details forthcoming. Eligible users will access their rewards via a decentralized application (Airdrop dApp) supported by an Ethereum claimer contract.
VERSE, introduced in December 2022, acts as Bitcoin.com’s utility and rewards token. It aims to incentivize and educate users about financial self-custody, supporting growth across various platforms including the multichain Bitcoin.com Wallet app and the decentralized exchange Verse DEX.
In summary, Bitcoin.com’s VERSE initiative not only rewards active users but also promotes broader community involvement and education in decentralized finance, marking a significant step towards enhancing accessibility and engagement in the crypto sphere.
