SINGAPORE, April 12, 2023 /THETECHMUSK=TTM/ — What is Bitkub Chain and what are the key roles of the Bitkub Chain ecosystem?
Bitkub Blockchain Technology Co., Ltd. is a company that operates under the Bitkub Capital Group Holdings Co., Ltd., which was established on February 28, 2018, with a registered capital of 778 million THB. Bitkub Blockchain Technology Co., Ltd. is involved in computer services and information technology, specifically in the development and design of blockchain technology. Their objective is to create Bitkub Chain, a widely used platform for industries and businesses, to provide easy access to digital assets to everyone.
“Listing KUB on Coinstore is a significant step towards establishing Bitkub Chain as blockchain infrastructure in Southeast Asia. This move will broaden the adoption of Bitkub Chain, and increase global awareness of the platform, attracting more users in the future.”Passakorn Pannok, CEO of Bitkub Blockchain Technology Co., Ltd.
Bitkub Chain is an open-source blockchain aimed at the mass adoption of blockchain technology for developers in small and medium businesses of the Bitkub ecosystem. Bitkub Chain advocates to first gradually remove many of the obstacles that exist in the current blockchain ecosystem in Thailand. Thailand lacks its own infrastructure, and these infrastructure providers charge extremely high gas fees, which is one of the problems encountered by Thai retailers and business owners.
Bitkub Chain aims to provide various partners with easy-to-use infrastructure solutions to promote innovation and create an overall ecosystem around Bitkub Chain. These partners can also operate nodes and become validators to reduce fees, while also combining with other projects on Bitkub Chain.
Bitkub Chain’s vision is to democratize economic opportunity and create unprecedented levels of financial access and security for everyone.
KUB Token Overview
Token Name: Bitkub Coin
Token Symbol: KUB
Total Supply: 110,000,000
Initial Circulating Supply: 85,000,000
Trading Pair: KUB/USDT
Trade Time: TBA
Withdrawal Time: TBA
What are the utilities of the Bitkub coin (KUB)?
The KUB token is the native cryptocurrency of Bitkub Chain, and it serves several utilities on the platform. Here are some of the primary utilities of the KUB token:
Gas Fee: KUB is used as a unit of measure for the amount of work done by validators on the Bitkub chain. Users must pay KUB as a gas fee or transaction fee in the transaction to join the Bitkub Chain and complete the transaction on the network.
Fee Credits: KUB holders can exchange their tokens for fee credits on Bitkub Exchange, which can be used to offset transaction fees and other platform fees.
Lock & Drop: KUB holders can deposit their tokens into the Bitkub NEXT wallet within a specified period to receive digital assets and other benefits from Bitkub’s partners.
Exchange of goods and services with BBT partners: KUB holders can use their tokens to receive special goods or services from Bitkub’s partners, although such actions are purely based on marketing campaigns.
KUB Token Distribution
*Note: The above information comes from Bitkub official website and Bitkub Chain whitepaper