Listing Strategy and Token Split
In this article we want to make announcement about future steps from 8bit NFT Space Team and to make it clear all information about this steps.
- Listing Strategy
This year, the growth of the NFT space and the 8bit NFT Space platform has been even more insane than we imagined. With potentially millions of users trading daily on the blockchain, and partners like ParadoxRealm, Birble.Win, Mochi Market, Babylons and others announcing that they will use NFTs and token from 8bit NFT Space, we want to make the network as accessible as possible.
Therefore, as of 1 December 2021 midnight UTC, we are performing a supply split of 8BIT pre-launch so that every 1 token is now worth 100. Supply will be increased proportionally, so all allocations and users who bought 8BIT tokens will receive the same percentage share of 8BIT. To be clear, for those who have already participated in the token sales campaigns you will receive the same share of the total 8BIT tokens supply as before, but 100 times the nominal token amount.
This update will enable a better user experience as users won’t have to deal in small fractions of an 8bit NFT Space — e.g receiving 0.01 8BIT as daily trading rewards or using 0.0045 8BIT to buy an NFT. Ensuring users do not have to manage with nominal numbers aligns to our vision of pioneering seamless crypto experiences for everyone and will help mainstream network adoption.
You can learn our new tokenomic and website, where we have updated the 8BIT token supply.
Airdrop tokens and marketing tokens will not be splited
Thank you for your endless support.
As part of our preparations to create a healthy and liquid market for 8BIT, we’ve seen some confusion around why we are doing this and we wanted to address this.
You, our community, are our top priority – clearing up FUD, being transparent and demonstrating our commitment to you is everything to us.
The Ecosystem allocation is 9% of total supply (90,000,000 8BIT). This vests on a weekly basis across 48 months. So, on the 11 December, we will use 2% of Ecosystem (1,800,000 8BIT) to create trading pair on DEXs: Coinswap, Ninjaswap, Nulswap and others.
The sole and strict purpose of the Ecosystem budget is to build community, incentivise the creation of new partnerships and for events such as hackathons.
Additionally, professional market making firms, who are investors in 8bit NFT Space, have been loaned 8BIT to help create a healthy order book on each secondary market.
What do market making firms do?
Markets that have low liquidity will generally have wide bid-ask spreads in their order books that can increase the volatility of the asset – we want to avoid this, as the overall liquidity of a market greatly influences its growth. Typically, the tighter the bid-ask spread, the more volume can be traded.
Market makers help increase liquidity and order book depth, reduce slippage and negative price volatility. They are critical in growing a healthy market, incentivising usage of 8BIT and making it an asset folks want to hold for the long term to be able to participate in its utility!
Why are we doing these listing events now?
To stimulate organic demand!
Conducting our first listing event on 18 December, on the same day as a large number of 8BIT vests, is unwise and, as we’ve seen with many listings, a recipe for failure.
The 8bit NFT Space team is dedicated to creating a healthy market, with organic demand from retail investors at the largest global crypto exchanges. That’s our commitment to you.
We are launching Public Sale with our partners Ninjaswap. Last chance to buy tokens for cheap price before split and listing.
Be aware, that 90% funds will go to liquidity. So, dont lose this chance.
From 15.11.2021 – https://ninjaswap.app/ninja-starter/8BIT