What is Biconomy Exchange Token (BIT)?

Deep Dive

1. Purpose & value proposition

BIT aims to deepen user engagement with Biconomy Exchange (founded 2019) by offering:
- Fee discounts: Up to 25% off margin trading fees and VIP-tier benefits for holders.
- Governance: Voting on exchange decisions like listings via BIT DAO (whitepaper).
- Ecosystem access: Used for NFT purchases, launchpad participation, and staking on Biconomy Earn.
- Deflation: A 6% transaction tax is burned, and 50% of exchange revenue funds buybacks (whitepaper).

2. Tokenomics & governance

• Supply: 1 trillion total supply, with 64% allocated to liquidity mining and 20% to developers (vested over 4 years).
• Adoption: Self-reported circulating supply of 290.8B BIT (46% of total) as of July 2025, but low liquidity ($1.8M 24h volume vs. $2.2M market cap).
• Governance: DAO voting exists but is limited—Biconomy retains unilateral authority to alter tokenomics or roadmaps.

3. Pros & cons

Strengths:
- Direct utility tied to a licensed exchange with 300K+ users and fiat on-ramps.
- Multi-chain plans (proprietary BIT Chain and DEX by 2024 per roadmap).

Risks:
- Extreme supply inflation (current price: $0.00000768) dilutes holder value.
- Heavy reliance on exchange growth—Biconomy’s 2025 roadmap delays (e.g., BIT Mainnet) raise execution concerns.

Conclusion

BIT’s value hinges on Biconomy Exchange’s ability to scale adoption while delivering promised upgrades like its proprietary chain. How might regulatory shifts for centralized exchanges impact BIT’s utility as a governance token?