Active users of the Bitcoin.com Wallet app are set to receive rewards in VERSE, the ecosystem token of Bitcoin.com. Bitcoin.com, a pioneer in the cryptocurrency industry since 2015, has announced its inaugural VERSE airdrop. This initiative, endorsed by a community-led proposal, targets active Ethereum users of the Bitcoin.com Wallet app. Future proposals aim to extend airdrops to active users of other blockchain networks supported by the app.
"This initial distribution marks the beginning of our airdrop program," stated Bitcoin.com CEO Corbin Fraser. "While we start with Ethereum, our plan is to engage active users across Bitcoin, Bitcoin Cash, Avalanche, Polygon, and BNB Smart Chain. Our objective is to distribute VERSE to early community members who share our vision of making cryptocurrency accessible, rewarding, and enjoyable."
The Verse Airdrop and Rewards Program is designed to incentivize active community participation and foster sustainable growth within the Bitcoin.com Verse ecosystem. In addition to airdrops, Bitcoin.com is developing an in-app rewards system based on quests. This system aims to enhance user acquisition and retention, guiding newcomers toward becoming proficient users capable of leveraging decentralized finance opportunities.
Airdrops of VERSE tokens and quest-based rewards will be drawn from 35% of the total token supply allocated for ecosystem incentives, as detailed in the Verse white paper. Further airdrop proposals will be subject to community voting through Bitcoin.com’s Verse Community Governance mechanism.
The voting period for the recent proposal, held from July 4th to July 11th, saw active engagement and discussion within the Verse community on platforms like Telegram and Discord. Holders of VERSE tokens voted overwhelmingly in favor of proceeding with the airdrop initiative, with 99.59% supporting the proposal.
With strong community backing, Bitcoin.com will proceed with the VERSE airdrop to active Ethereum users of the Bitcoin.com Wallet app. Detailed information regarding eligibility criteria and reward distribution will be disclosed soon. The airdrop process will be facilitated through a decentralized application (Airdrop dApp) supported by a claimer contract on the Ethereum Chain.
The specifics of the airdrop announcement and distribution will be shared shortly. Eligible users will verify their Ethereum wallets via the Verse Airdrop dApp and claim their VERSE within 30 days of the announcement. Any unclaimed tokens will revert to the Verse Ecosystem Incentives Fund.
VERSE, launched in December 2022, serves as Bitcoin.com's token for rewards and utility. It incentivizes and gamifies engagement, particularly aimed at onboarding newcomers to financial self-custody. VERSE supports safe exploration of frontier finance opportunities, contributing to the growth and expansion of the Bitcoin.com Verse ecosystem. This ecosystem encompasses the multichain Bitcoin.com Wallet app, an award-winning news platform with a substantial readership, the cross-chain decentralized exchange Verse DEX with integrated farming rewards, and educational dApps like Verse Scratcher and Verse Clicker.