BiteBTC launches the Fomo Game and announces $BITE Token
BiteBTC launches an experiment in support of its token.
This is the Fomo Game.
We donated the first 1 BTC as the initial prize fund:
It can be received by anyone who transfers his bid in the amount of 0.001 btc to the same address (FOMO account) within the first 24 hours.
Every 24 hours, at 12:00 UTC, the rate increases by 0.001 btc, i.е. on the second day of the game it will be 0.002 btc, in the third - 0.003 btc and so on.
That player, whose bet will not be broken within 24 hours, receives the entire prize pool, which will consist of initial 1 BTC, as well as the amount of all previous bets.
According to our calculations, the prize fund will be at least 20 BTC in the first three months.
In addition, all participants in the game will get BiteBTC tokens - $BITE.
This is the first mention of the $BITE Tokens, which will be released in October 2018.
BiteBTC Exchange will become decentralized. This step eliminates the risk of losing coins, all participants will work directly with each other.
$BITE Tokens will be released as an analogue of the gas in Ethereum network, which will be necessary for making transactions.
Thus, each participant of the Fomo Game will receive 1 $BITE Token for every 0.001 btc transferred to the FOMO account.
Beginning in October 2018, all participants will be able to request their tokens, proving the ownership of their wallets.
$BITE Token will be traded in all pairs on BiteBTC in 2018.