BITTOKEN-LOGO

LITEPAPER


The Problem:
There are thousands of cryptocurrency projects in the space today, and each of them has unique properties, functions, and tokenomics. Coins and tokens also have distinctive communities that support them. Unfortunately, many of these projects have limited functionality when it comes to rewarding supporters and attracting new users. Some also have tokenomics that discourage continued investment. Additionally, there is no cross-community token that can bring crypto-heads and newcomers together from different platforms and ecosystems. Eventually, communities dissolve and reform, leaving once-thriving groups desolate and forgotten.


BITToken
BITT is the native token for every crypto community! It is designed with the sole purpose in mind of rewarding group members and developing fun and unique utility for any project. BITT is a giving token that will evolve based on the needs of its holders. Members and affiliates of the BITToken club will be rewarded for engaging with BITT platforms, being active within communities while holding, staking, and spending their BITT. There is no presale for BITT because the ideals of the project are centered around bringing value to communities, not extracting capital from investors. When the vision of the BITToken project is fully realized, members of the diverse and expanding crypto space will have one token that unites them.
The first community that has adopted BITT as their native currency is the Bitsquad. The token enables advanced features and discounts on the Bitswap DEX toolKIT, provides unique utility within Discord and unlocks new and exciting possibilities involving NFTs and the SANDBOX game. Devoted members of the Bitsquad are greatly appreciated for their undying support for the BitBoy Crypto ecosystem. They will be rewarded through exclusive offers, airdrops, discounts, and more that will continue to evolve throughout the life of the project.
Beyond the reward structure, BITT will also be instrumental in supporting upcoming BITT products that will be added to the platform. Members can use the token to interact with the Bitswap aggregator, the official BitBoy Crypto NFT marketplace, Bitswap wallet supporting ERC20, BTC, and Polkadot as well as gain access to exclusive offers and content. BITT will also provide discounts on the full-service Bitswap DEX complete with advanced trading features such as limit orders, stop limit, and leverage.


Bitswap.io DEX Aggregator
Bitswapdex.io is the first in a suite of advanced trading tools that are powered by DEXKIT. The aggregator searches over 14 DEX protocols in search of the best liquidity and price for swaps. The DEX is a gamechanger for decentralized trading because it ensures the best price impact and security when trading ERC20 tokens. Anyone that holds at least 2,500 BITTokens will receive a 90% fee discount when using the aggregator. Holders will only have to pay .01% in fees on every trade. The DEX is a professional trading tool that users can leverage to make smart trades easily. The BITToken will reward holders by extending discounts on ALL BITT platforms as they are released.


TOKEN UTILITY
The possibilities for the BITToken project are unlimited. Projects can leverage BITT in any way to benefit their community. The following are use-cases and features that BITToken will employ for the Bitsquad, but as the project evolves, more groups will assimilate BITT and devise new and exciting utility for their communities.


BITSWAP FEES
When using the Bitswap DEX aggregator, users that hold at least 2500 BITTokens receive a 90% discount on platform fees. This means that holders will only be charged a 0.01% fee on each trade. When traders initiate a token swap, BitSwap scours 14 decentralized exchanges in search of the best price and liquidity to complete the trade. Bitswap’s underlying aggregator uses powerful technology to assure traders that they are getting the best price for their tokens with every swap.


NFT Platform
BitSwap will feature a unique NFT Platform where collectors can purchase exclusive BitBoy collectible cards & rare BitBoy art pieces. Users can leverage the BITToken to secure a better price for NFTs hosted on the marketplace. BitBoy cards possess unique and valuable characteristics that will continue to reward holders throughout the life of the BITToken project.


Airdrops
The BITToken’s primary function is as a community token. As the first community to onboard BITT as its native currency, the token will be ESSENTIAL for BitSquad members to access exclusive features in the world of BitBoy Crypto. Active members of the BitSquad will receive token airdrops for contributing to the community. Through active participation, users will earn BITT rewards in the form of airdrops. This includes engaging with platforms such as Telegram, Discord, YouTube, the Bitswap aggregator, and NFT marketplace, social media like Twitter, and any place you can find BitBoy Crypto content. The more users contribute and support these platforms, the more they will be rewarded.


Discounted Subscriptions
Several subscription services are being developed on Bitboycrypto.com in addition to the BitBoy LAB discord server. When users pay for their subscriptions with BITT, they will receive exclusive discounts. There will be huge promotions that will allow BITToken holders to maximize the value of their purchase.


In-game Utility for SANDBOX
SANDBOX is one of the biggest upcoming projects in cryptocurrency. There is a staggering amount of IP that will be available in the virtual world, and the Bitsquad has staked their claim on the map. SANDBOX is unique because each plot of land can be endlessly designed with unique wearables, items, and experiences. With the BITToken, the Bitsquad can explore and interact with every corner of Digital City, the BitBoy Crypto playground. The token will be the key to gaining access to secret areas, special unlockable content, and exclusive experiences that players can’t access anywhere else in the game. BITT holders also have the opportunity to rent shares of the BITToken estate and build unique creations!


Staking rewards
There will be 3 ways to stake:

Pool 1 - Stake BITT to earn BITT

Pool 2 - Stake BITT and hold a ‘Founding Member NFT’ to earn 50% of the ETH from the Bitswap fee pool

Pool 3 - Add BITT/ETH liquidity and pool tokens to farm 5000 KIT over 2 months

The first BITT staking pool is simple. Users can provide BITT and earn BITT rewards for doing so. In the second pool, stakers will provide BITT and hold a unique NFT to accrue a portion of 50% of the ETH from the fee pool based on their respective holdings in the staking pool. Users will immediately begin earning rewards as soon as they enter the pool and can exit the pool with no penalty. As soon as BITT is withdrawn, ETH is automatically credited to staker’s wallets. The last pool allows BITT/ETH liquidity providers to stake their LP tokens and farm a portion of 5000 KIT tokens over 2 months.


Future Utility
The BITToken project is constantly evolving and prioritizes integrating multiple products and services seamlessly into the diverse sphere of crypto communities. Members of the Bitsquad and other participating communities can expect to receive regular rewards for their support and contributions to the continuing success of the BITToken project. This is the core value of the BITToken and every future decision will be for the betterment of its holders because BITT is creating the largest and most dynamic community in crypto. The future of the BITToken project will be dynamically attuned to the rapidly changing crypto markets. Products and services will continue to be developed and the utility for BITT will expand dramatically along the way. The eventual result will be the most robust and valuable ecosystem in the cryptocurrency space.


Cross-Platform Utility
All of these products and features can be adopted and tailored to fit any community or ecosystem. Projects can launch their own aggregators, marketplaces, and even list BITT as their main currency on Discord and Telegram through the tip.cc bot.
To add the tip.cc bot and integrate BITToken into Discord simply go to https://tip.cc/. Once the bot has been set up type “$config currencies enable bitt” into tip.cc. After BITToken has been configured, users can transact with BITT from their native Discord wallet! BITToken’s Telegram bot will be added in Q2 of 2021.


How to get BITT
The BITToken will initially be pooled on Uniswap and Mooniswap protocols, but tokens can also be acquired directly through NFT purchases, item collection in SANDBOX, airdrops, and early KIT farming. A significant amount of the BITT supply will be distributed through staking with 25% allocated to the staking pool.


How Do NFTs Work?
NFTs are priced in ETH. The sale of an NFT will activate the BITT faucet calculating a percentage of the ETH used to purchase the collectible to subsequently burn BITTokens. Some NFT purchases will also reward you with BITT airdrops directly to your wallet. Each NFT is uniquely individual and possesses special utility. Anyone who accrues at least 10,000 tokens from the initial BITT farm will be awarded a ‘Founding Member’ NFT. The ‘FMNFT’ is a special collectible that will give holders staking bonuses and rewards. NFT use-cases include:

NFT staking to earn fees generated deployed BITToken Tools
Discounted trading fees on the Bitswap DEX
Deflation of the total BITT supply through the purchasing burn mechanism
Access to exclusive rewards and experiences
Staking bonus multipliers
Unique utility based on different NFT types


BITT Tokenomics
Total Supply: 42,000,000
Token Distribution: 
11% Core Team (Locked for 6 Months)
19% Marketing, Airdrops, and Community Payments
5% Initial KIT Farming
25% BITT Staking Pool & Partnerships
25% Development Wallet
15% DEX Liquidity.


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