Bitcoin.com completes $50 million token financing through the presale of VERSE, with participation from Kucoin

2022-12-08 11:00:34

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ChainCatcher news, the encrypted wallet Bitcoin.com announced the completion of the presale of its utility token VERSE, raising $50 million. The VERSE sold in this presale accounts for 16% of the total supply, with other strategic buyers including Digital Strategies, Blockchain.com, Kucoin Ventures, Redwood City Ventures, Boostx Ventures, and Poly Network. It is reported that VERSE is a reward and utility token aimed at contributors and participants in the Bitcoin.com ecosystem, with EVM compatibility.

Bitcoin.com will launch VERSE trading on the decentralized exchange Verse DEX. Additionally, Bitcoin.com has launched the Verse Development Fund and will begin accepting grant applications from developers and other ecosystem participants in the first quarter of 2023. 34% of the VERSE supply will be allocated to the Verse Development Fund, released linearly to the fund over 7 years. (source link)

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