BetBitX Docs
  • 🦄OVERVIEW
  • 🎰Our product
    • Inhouse games
      • European Roulette
      • The Dice Game
      • Coin Flip
    • Classic Casino
    • Betting
      • Bet Pool (BLP)
      • Maximum Betting Limits
      • Verifiable Randomness
      • Fees
    • Our Roadmap
  • 🪙Our Tokenomics
    • Revenue flow
    • Token Design
    • The BetBera NFT collection
      • BetBera Art Designs
    • Token Allocations
      • Vesting Schedules
    • Governance
  • 🧪Product Navigation
    • Depositing funds
    • Providing BLP liquidity
    • Convert your $BT tokens
      • Convert $BIT into $esBIT
      • Burn $BIT into $xBIT
      • $esBIT into $xBIT
    • Staking
      • Stake $esBIT
    • Vest your $esBIT
      • Vest $esBIT
      • Unvest $esBIT
  • 🛠️For developers
    • Smart Contract Addresses
    • Security
    • Verifiable Randomness Function
Powered by GitBook
On this page
  • $BIT token
  • $esBIT token
  • $xBIT token
  1. Our Tokenomics

Token Design

PreviousRevenue flowNextThe BetBera NFT collection

Last updated 8 months ago

$BIT token

$BIT is the native ERC-20 token on BetBitX that is be tradable on various DEXes. Further characteristics of $BIT are as follows:

  1. 1 $BIT can be converted into 1 $esBIT.

  2. 1 $BIT can be burnt into 1 $xBIT.

$esBIT token

$esBIT is the time-locked version of $BIT, which is a non-tradable token. Further characteristics of $esBIT are as follows:

  1. $esBIT can be converted back into $BIT tokens after a vesting period of 6 months.

  2. 1 $esBIT can be burnt into 0.8 $xBIT, with the remaining 0.2 $xBIT to be shared amongst existing $xBIT stakers.

  3. $esBIT can be staked on our platform to earn 5% of the revenue earned from our platform.

  4. $esBIT stakers will also earn protocol emissions in $esBIT.

  5. There is no locking period for staking $esBIT and users can choose to unstake their $esBIT to receive $esBIT tokens back instantly.

$xBIT token

$xBIT is the burnt version of $BIT, which is also a non-tradable token. Further characteristics of $xBIT are as follows:

  1. Burning $BIT or $esBIT into $xBIT is a permanent process, which means $xBIT cannot be converted back to $BIT or $esBIT.

  2. Users can only burn $BIT into $xBIT if they possess a .

  3. $xBIT does not need to be staked. As long as xBIT is held in the NFT 6551 wallet, it will allow users to earn 25% of the revenue earned from our betting platform.

  4. $xBIT holders will also earn significantly larger protocol emissions in $esBIT compared to $esBIT stakers.

  5. $xBIT stakers will also earn a proportionate share of the $xBIT distribution when other users burn $esBIT to $xBIT (see above for details).

  6. $xBIT also holds governance and future anchor utility within BetBitX's ecosystem.

🪙
ERC-6551 BetBera NFT wallet