BIR is used for network fees.
Being a decentralized model BIR coin is the main asset for paying the network fees. Considering that we started a new blockchain from scratch, initially we had enabled very small network fees for covering the network costs, but later on we decided, at least for this early stage of the project, to reduce them to 0.
BIR is used for market fees
Big part of Birake business is around market fees. Basically for now is the only fee that it is applied inside Birake Network and is 0.15% of filled order.
Birake core business is to sell Exchange Software Platforms as a service with the model of sharing fees. Market fee is split between Birake as owner, Birake masternode owners and Webmaster
BIR is a masternode coin and can generate rewards
As most of masternode coins every block reward is split between POS mining and active masternodes from the network. The entire scheme can be found here: https://birake.com/assets/docs/profit-diagram.pdf
BIR is used to pay for the platform at generous discounted prices
As we already mentioned we are selling Exchange Software Platforms as a service. The setup fee, maintenance and support can be paid in BIR. More information can be found here: https://birake.com/crypto-exchange-software
BIR is used to pay the webmasters
Birake business model is to create a network of exchanges. Every partner/ webmaster from the network is generating a revenue based on its traders fees. BIR coin is used as core asset of payments for our webmasters. We already implemented a very complex system of tracking (https://tracker.birake.com/) which in real time it tracks all the users inside the network and convert their fees to BIR.
This process of conversion, accumulation of fees and conversion we named it:
Each month we gather fees from trading, all the fees are accumulated in different assets. Every day or multiple times per day we will convert the fees to BTC, we’ll keep an amount for minimum costs of the platform and the rest will be sent to “the accumulator”.
The accumulator on its turn will buy BIR with this BTC. With those BIRs after the month ends we will pay the webmasters, MN owners and we also we’ll get our share.
How this it will work:
If our partners are generating X BTC monthly fees -> this amount will be converted to BIR -> then we will split the share according to each partner percentage. Part of those fees on average about 40%, will be our share and we will try to exclude from circulating supply as much as possible.
BIR Masternodes can generate extra revenues and can be used to reward holders
Being a Masternode coin we can track all the active masternodes from the network. All the masternodes will receive part of the fees between 5% and 10% from all the revenues generated by our partners. This is just one example how Birake can create incentives for our holders / investors and not limiting them to our platform only.
BIR involved in Partner Program
BIR is also used in Partner Program like for the webmaster. Everyone can be Birake Partener, without actually deploy a new exchange platform.
Also the Partner Program besides affiliates includes also a program for Rebate fees which can be very helpful for market makers.
BIR involved in Coin Listing
1 BIR = 1 VOTE
Every X days Birake will list the first coin ranked by votes!
Coin Listing Program is a new feature that will help communities to list their favourite coin on Birake Crypto Exchange Platform.
Everyone can participate starting from the process of registration for the coins/tokens until vote on coins/tokens desired, following a few simple rules.