Updated on Wed, 18 Dec, 2024 at 3:22 PM
At Bit2Me we keep working to offer you new and exciting ways to get the most out of your utility B2M token. Introducing the new B2M redemption functionality, coming in the first quarter of 2025 it will open up a world of possibilities. Do you want to know how does it work? Keep reading because this is of interest to you.
Redeeming B2M will allow you to access different functionalities and advantages within our platform. One of the ways to do that is to redeem a specific amount of B2M to get Space Center points and thus be able to level up. Or redeem a certain amount of B2M to gain access to exclusive sweepstakes. This mechanic is based on a key industry principle: token burning, which means that redeemed B2M tokens will be sent to a blockchain address with no owner, permanently removing them from the market.
Once a month, Bit2Me will bundle the B2M tokens redeemed by users and send them to a dead blockchain address, removing them from the market.
Along with the redeemed B2M tokens, the ones that have been unlocked earlier from Lockup Pool will be sent too: When withdrawn earlier B2M tokens from Lockup Pool, the system withholds 10% of the initially deposited funds for not meeting the deadlines set in the pool. This withheld amount will be added to the monthly redemption and will be sent to the dead blockchain.
This is in addition to our first token burn with which 50M B2M were removed from the market, strengthening the value of the token for the entire community.
On our B2M website you will be able to:
In addition, if you access your Bit2Me account, you will be able to check the B2M tokens you have personally redeemed.
Stay tuned for more information!
This new redemption mechanism and its utilities will be available during the first quarter of 2025. Follow us on our social networks and subscribe to our communications so you don't miss any news.
Get ready to take your B2M experience to the next level!
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