OFFERS FROM

Bibox

Starts 
Sep 1
 @ 
4:00 pm
Offer Ends
Nov 30
 @ 
4:00 pm

What Is Bibox?

Bibox is a cryptocurrency exchange founded in Singapore in November 2017. It is the follow-on exchange project from Jeffery Wei, one of the co-founders of major Chinese trading platform OkCoin. 

In its three-year history, Bibox has grown to incorporate a large number of cryptocurrencies, later branching out heavily into decentralized finance (DeFi) tokens, and placing emphasis on automated trading features. 

Bibox is reportedly the first cryptocurrency exchange to take advantage of artificial intelligence (AI) technology to drive its platform’s operations.

In later years, executives expanded the exchange’s outreach via spin-offs, which launched in Europe and America.

The exchange has its own native cryptocurrency token, BIX, which performs a number of internal functions and provides user incentives. An ERC-20 standard token on Ethereum, BIX is freely tradeable on various exchanges. 

What Does Bibox Specialize In?

Bibox has become known as the first cryptocurrency exchange to leverage artificial intelligence technology in a major way as part of its operations.

AI assists professional traders in executing complex transactions, while on the business side, AI helps select new cryptocurrency projects to list in a way that Bibox describes as being “based on merit.”

Security is also another central AI use case, with the technology monitoring user activity and generating alerts when suspicious activity occurs. Bibox describes this setup as “risk control,” and says its aim is to optimize user experience.

In 2020, Bibox began focusing on DeFi, launching its DeFi Innovation Trading Board in June, catering to various new tokens in line with its remit to leverage automated technologies. DeFi components themselves, such as automated market makers (AMMs), count automation as one of their biggest advantages.

The Bibox Coin 

Bibox has its own native token, BIX, which it first sold via an initial coin offering (ICO) prior to launch in October 2017. 

Out of an initial supply of 500 million tokens, 131,520,349 BIX ended up being sold during the public sale, with another 140 million being allocated to the team. The total supply was thus capped at 271,520,349 BIX.

The team tokens are subject to a vesting schedule, which Bibox reconfirmed in October 2020. 20% of the tokens become available each year.

For users, BIX fulfils the role of an internal fee payment method, with various privileges awarded to token holders. These include discounted trading fees on a sliding scale as time goes on. 

BIX is an ERC-20 standard token issued on Ethereum.

What Bonuses Is Bibox Known For? 

Bibox offers various bonus schemes relating to its in-house token, BIX. In 2018, the exchange launched a dividend program which rewards token holders for investing. This was upgraded in 2020 in response to user feedback.

Those using BIX for trading fees also benefit from discounts, while BIX is mandatory to use as “fuel” for its decentralized transaction service.