Coinbase-backed bitsCrunch Announces Two-Week Registration for Community BCUT Token Sale on CoinList

Coinbase-backed bitsCrunch Announces Two-Week Registration for Community BCUT Token Sale on CoinList

| Updated
by Steve Muchoki · 3 min read
Coinbase-backed bitsCrunch Announces Two-Week Registration for Community BCUT Token Sale on CoinList
Photo: CoinList

The BCUT token sale will begin on December 14, 2023, via CoinList with up to 65 million tokens up for grab at discounted prices.

BitsCrunch network, a decentralized artificial intelligence (AI)-enhanced data ecosystem that delivers multi-chain forensic analytics to DeFi developers, has opened a short window for the registration of the BCUT token community sale.

According to the announcement, the bitsCrunch network will be conducting its BCUT token community sale on the CoinList protocol beginning on December 14, 2023, at 17:00 UTC.

As a result, early investors have been notified to fund their CoinList account with a minimum of $50 and a maximum of $2000 through Tether (USDT) and USD Coin (USDC). Moreover, CoinList account funding will not be allowed after the BCUT token community sale registration deadline on December 11, 2023.

Closer Look at bitsCrunch and BCUT Tokenomics

The bitsCrunch network is backed by leading web3 companies including Coinbase Global Inc (NASDAQ: COIN), Animoca Brands, Polygon network, and Chainlink network, among others. Now the bitsCrunch network intends to welcome the public investors through the CoinList community sale that will involve 60 million BCUT tokens, which represents about 6 percent of the total supply that is capped at 1 billion tokens. However, the bitsCrunch network has reserved an extra 0.5 percent of the total BCUT token supply for the pre-funding bonus.

Notably, the planned price for the BCUT token community sale is set at $0.055, thus a fully diluted market valuation of around $55 million.

“An additional 10,000,000 BCUT tokens (1 percent of the total supply) may be made available for purchase during the bitsCrunch Community Sale at the discretion of bitsCrunch. Users who pre-fund and purchase at least $350 worth of BCUT will be eligible to receive an additional 450 BCUT,” the announcement noted.

Meanwhile, early BCUT investors have been notified that 20 percent of the investment will be unlocked at TGE, which will be followed by a 12-month linear release. However, the company highlighted that investors from certain jurisdictions including the United States, Canada, China, and South Korea, among others, cannot participate in the community sale.

The BCUT is a utility token that is used to smoothen the operations of the bitsCrunch network. For instance, the node operators can stake their tokens to participate in the reward program. Other network participants include the delegators, indicators, community contributors, and consumers.

As for the BCUT token tokenomics, 13 percent of the total supply has been reserved for ecosystem growth, 23 percent designated for backers, the team went with 17 percent, 24 percent to the treasury, and 17 percent to community incentives. Worth noting that the BCUT token will have a 3 percent annual inflation to sustain the community incentives among other operations.

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