Pinduoduo, a Chinese e-commerce firm, was able to launch its IPO in the US stock market in just two years. The rapid growth of its user base was instrumental in this success. The same applies to cryptocurrency exchanges — the size of a firm’s user base is of vital importance, especially in this industry of over 11,000 cryptocurrency exchanges and hence extremely intense competition.
In order to provide better services to users, the major exchanges strive to build their own ecosystem and improve on user experience. Bibox is no exception. From the outset, Bibox has been harnessing Artificial Intelligence (AI) technology to ensure smooth user experience and asset security on its platform. Right after announcing the partnership with Huobi Pro on 24th July 2018, Bibox is conducting the 2018 2nd quarter buy-back of BIX tokens.
In accordance with the Bibox whitepaper, Bibox shall attribute 25 percent of each quarter’s net profit to buying back and burning of BIX tokens. An announcement was published on the official Bibox website on 26th July 2018 that they would buy back and burn 2,003,300 BIX tokens this quarter. Buying-back of BIX tokens is expected to be completed before 10th August 2018. The circulating supply of BIX tokens is about 270 million. With the second quarter of buy-back and burning of BIX tokens, the price of BIX will undoubtedly increase.
Data disclosure of buy-back and burning of BIX tokens illustrates the openness and transparency of the Bibox business. This is exactly in line with the fundamental characteristics of blockchain. Additionally, Bibox’s business growth is evidenced in concrete figures, raising the confidence level of investors.
Bibox recognises that strong support from its users is instrumental in the success of the platform. Hence, Bibox will reward all BIX holders with bonus BIX tokens as incentive. Bibox rewarded BIX holders with 234,260 BIX in March, 5,577,062 BIX in April to June, and as much as 2,735,590 BIX in July alone.
The buy-back and burning of tokens, coupled with the incentive program, are aimed to enhance user loyalty and attract more people to trade on the platform. In addition, Bibox is also looking at further increasing on the number of use cases where BIX tokens could be utilized.
On the one hand, the partnership with Huobi Pro will strengthen Bibox’s resources and influence on the industry. On the other hand, the buy-back and burning of BIX tokens will increase the value of BIX, thus raising returns for investors. This series of actions will enhance investors’ confidence in Bibox and raise their expectations of the value of BIX, laying a stronger foundation for the development and growth of Bibox.
Since its inception, Bibox has been a distinguished AI-enhanced quality digital asset exchange, providing excellent user experience with a comprehensive selection of quality projects to trade. Bibox’s stellar technology as a platform has enabled it to reach Top-10 ranking as a cryptocurrency exchange within half a year. With its innovative core and focus on swiftly adapting to market needs, Bibox will scale to even greater heights.