Recap — Token Community Call Ep#02

Some of the key points discussed in the token community call on 2nd Nov 2021.

1. Token Utility

We started the call by discussing the token utility. Check this blog for the details.

2. Token Release Schedule

Next up, we discussed the release schedule as many of you wanted more inormation on this.

• The initial circulating supply is 65.4M $BICO tokens
• The release schedule is designed in a way that incentivises the team & investors to build for the long term (3–4 years)
• Option 1 of CoinList sale: They get monthly release of their purchased tokens over 3 months (so 33% end of month 1, 33% month 2..)
• Option 2 of CoinList sale: They get 10% of their purchased tokens on the day of TGE. Then no tokens are released for 6 months. Then monthly release of the remaining 90% over 6 months. (so 15% on month 7, 15% month 8..)

Read more

3. Token TGE

The TGE is planned around the end of November. The exact dates will be communicated, as we work frantically behind the scenes to ensure a successful token launch.

• $BICO is an ERC20 token. At TGE, it will be live on Ethereum.
• We have taken the community feedback that high fees on Ethereum can be an issue. We are looking at Polygon & BSC too, but at the moment no guarantees can be made when the token goes live there.

Q. “When will $BICO be listed? Which exchanges? What will be the opening price?”

A. When we have the information, we will definitely let the community know! Follow our Twitter, Join our discord | Telegram. But at the moment, we cannot reveal anything for various reasons, legal & otherwise.

Some projects like to speculate that we are talking to this and that. We don’t want to participate in such speculations. That’s not who we want to be as a project. When the time is right, we will let you guys know where & how to buy $BICO.

Be rest assured, we are working very hard to ensure a great outcome for the community and the project!

P.S. Please beware of scammers. Anyone DMing you they can sell you $BICO is definitely a scam!

4. Token Airdrops

• 2% of the total supply (20M tokens) will be used for $BICO airdrops!
• This will come out of the allocation for ‘community rewards & incentives’. 7.5% of the 38.12% of the total allocation will get released at TGE.

This is how the 20M will be used:

• 0.5% (5M tokens) will be rewarded to the early adopters.
  We have conducted 3 early adopter programs till now. All 3 program winners get the same airdrop amount. If you participated in 2 programs, you will get the reward for both the programs. The list of eligible addresses was posted on our discord.
• P.S. The list is now final. The early adopter program was over long time ago. So don’t try to complete the tasks now. Enough time was given for people to check & let us know if their wallet address is not added.
• 0.5% (5M tokens) will be rewarded as Hyphen Retrospective airdrop. We took the snapshot on 1st Nov 1600 UTC. If you have used Hyphen prior to this, you will qualify automatically. 0.5% will be distributed as Hyphen Retrospective airdrop. There will be a base reward for every user, & then extra rewards depending on the total vol by that user.
• 1% (10M tokens) will be used for upcoming reward programs & contests in the next 3–4 months. These will be done with our 40+ key partners. It will help in raising awareness about Biconomy in other crypto communities, as well as give more opportunities to our community to win $BICO! So stay tuned.

5. Airdrop Distribution

• You will be able to claim the airdrop ONLY on our website. So, please beware of scammers! The link will be made live as we approach the TGE.
• There is no lock up or vesting for your airdrops. You will be able to claim 100% of your airdrops on day 1! You will have till 4–6 months to claim it.
• As the $BICO token is ERC20, you will be able to initially claim on Ethereum. We are also looking at L2s such as Polygon to enable these claims.

We are working on a NFT based reward platform for future campaigns. It will allow $BICO holders to level up by participating in contests and completing various tasks. As you level up, your Biconaut NFTs will evolve, which can be redeemed for more perks & rewards! The target launch date for these features is Q1 2022. More details will be released later.

6. Ambassador Program

• We will be getting in touch with shortlisted candidates starting from this week.
• The ambassadors will be paid monthly in USDT. There will be extra performance based $BICO rewards.
• Biconauts with diplomat, artist & tycoon roles can take part in weekly contests to win $BICO. More details to be announced on our discord!