Bounce Token is the cryptocurrency used in the management of the Bounce Finance platform and protocol. There are four main areas where Bounce Token can be used: Transaction mining, management treasury, team and investors, staking. Bounce Finance aims to provide a competitive exchange environment to uncover the potential of open finance.
What is BOT Token?
BOT token is the native cryptocurrency of the Bounce Finance protocol. According to statements, the total supply of 220,000 BOT tokens will be divided into four parts:
- Daily reward distribution: 100,000 BOT
- Management treasury, sales, and rewards: 91,500 BOT
- Initial experienced executive invitations: 12,000 BOT
- Team: 16,500 BOT
According to the statements, when the total token amount reaches 100,000 BOT, daily reward distribution will stop. This aims to prevent inflation. In addition, the daily reward distribution mechanism and rate will be adjusted by governance voting by the board of directors.
Additionally, it’s stated that after a while, the team and management will step back, and all decisions will be made by Bounce participants. It is also among the statements that a portion of Bounce Tokens (BOT) will be used to attract professional individuals to the platform. Team tokens and initial executive tokens will be locked until the initiation of the management board and allocated to each team member to represent their voting rights and participation in governance.
Furthermore, it is stated that in Bounce, users can create pools, and a pool creator can determine various features such as the number of tokens they want to swap, the maximum amount of ETH they will accept for the swap, the duration of the pool, and whether it’s a fixed price swap or dynamic price swap. Simply put, each pool has a limited amount of swap allocation, and users must compete with each other to obtain swap opportunities.
In addition, if the swap rate between a pool creator’s tokens and ETH is always fixed, it’s considered a fixed price swap. However, if the swap rate depends on the number of tokens of pool creators and the amount of ETH in the pool, this is termed as dynamic price swap.
On the other hand, the Bounce team states that the sole purpose of creating Bounce is to provide an important component for the development of the DeFi space.
Where to Buy Bounce Token?
Bounce Token can be purchased from cryptocurrency exchanges like OKEx, Binance, Huobi Global, UniSwap, BKEX, and Coinone.
In addition to the exchanges, it’s also beneficial to look at the current prices and market figures of BOT token.
According to CoinMarketCap data, at the time of writing, Bounce Token (BOT) is trading at $316.02, with a market cap ranking of 526th and a trading volume of $8,370,958 USD. Currently, there are 26,489 Bounce Tokens in circulation, while the total supply is stated to be 100,000 BOT Tokens.
Moreover, Bounce Token (BOT) reached a record high of $949.15 on August 11, 2020, and saw its lowest level at $131.61 on August 7, 2020.
Purchasing BOT Token
BOT token can be easily and securely purchased through Binance, the largest cryptocurrency trading platform in terms of trading volume.
