Eco-Functional Segments of BIB Token
Last updated
Last updated
BIB Meta is built revolving around the idea of NFT, so users are able to mint NFT via the burning of BIB tokens. The minted NFT can then be applied to enjoy various gameplay in the ecosystem of BIB Meta.
The combination of the BIB Meta Web3 ecosystem and BIB token gives value and provides liquidity to NFT, which is equivalent to giving NFT a higher value beyond its own attributes. Through NFT, community nodes, token dividends and so forth, BIB Meta forms an ecosystem blooming with rich and diversified projects.
Users may receive attractive dividends by merely holding a BIB token.
Three ways to enjoy token dividends
a. hold in centralized exchange wallets (system counts via asset snapshot)
b. hold in a decentralized wallet (automatically executed via smart contracts)
c. delegate to the node
The Sources of Bonus Pool
DEX seller：When BIB is invested in the liquidity pool, the call of a BIB token contract will be charged 10% of tax, which 6% is converted into BUSD in the dividend fund pool, 3% is allocated into the liquidity pool, and 1% is burned (DEX buyer: no tax is charged).
Transfer-out party: Initiating BIB token transfer requires the call of a BIB token contract which charges 10% of tax. To be exact, 6% is converted into BUSD to be a part of the dividend fund pool, 3% is allocated into the liquidity pool, and 1% is burned (only applicable to deposits).
Profit Calculation Mechanism
a. Decentralized wallet users：Tax received from smart contracts will be paid to the BIB token holding addresses in BUSD accordingly, i.e. dividends received by Address A = the number of BIB held by Address A * dividends in BUSD per BIB / the total number of BIB in all wallet addresses
b. BIB Exchange users：Dividends received by Account A = Number of BIB held by Account A * Hourly snapshot of BUSD dividends received by the wallet address in the BIB Exchange/ Total amount of BIB in all exchange accounts
BIB holders can stake by delegating their BIB to the nodes, which 20% of the profits are paid to the node owners as delegation fee. There is no minimum limit on the number of users who delegate, but it is not allowed to exceed 50 times the self-delegation volume of the node’s KOL as well as the hard cap corresponding to the node level (10 million BIB for 3-star nodes and 100 million BIB for 4-star nodes). Most remarkably, users can claim the profits gained at any time on the official website, meanwhile enjoy token dividends.
Users get to enjoy various kinds of GameFi within the BIB Meta ecosystem by using BIB tokens. It will mainly focus on the match prediction for the World Cup at the beginning and more GameFi including online penalty shoot-out as well as sports competitions to be played in teams formed by different nodes will be launched in the coming future.
