We have tremendous updates to share with our community today.
BOLT is pleased to announce that we have committed to a strategic partnership with Binance for the migration and token swap of BOLT’s ERC-20 Token to Binance’s BEP-2 Token. In the time both our teams have worked together to make this partnership a reality, we have found that Binance’s mission to spread the freedom of money is keenly aligned with our mission to decentralise the chain between content producers and users. We believe that by working together, we will be able to continuously build and deliver a unique and ambitious ecosystem of users, partners, and content creators, where creativity, connections, and discovery can be bonded together.
“We are delighted to be working with BOLT to help scale their efforts to more markets and users around the world through the power of the Binance Chain. The Binance Chain, which has a one-second block time, will ensure transactions and interactions by BOLT’s users to be fast, efficient and effortless.”
— Ted Lin, Chief Growth Officer of Binance
To facilitate this partnership, we will migrate the majority of the ERC-20 BOLT Tokens to the BEP-2 protocol, which will be native to the Binance Chain ecosystem. Details will be announced at a later stage and the migration will be facilitated by Binance.com. These tokens will then be tradable on Binance DEX, the new decentralised exchange feature which will be developed on top of the Binance Chain blockchain.
We are also pleased to announce that Bitmax is currently finalising its Binance Chain integration, and we will be the first Binance Chain token which will be trading on Bitmax. This further underscores the strong partnership and collaboration that BOLT enjoys with Bitmax.
To foster greater collaboration and utility within the ecosystem, we will continue working with Zilliqa to leverage their smart contract capabilities for the BOLT ecosystem. To facilitate this, we will keep an allocation of BOLT ERC-20 tokens to be swapped later to the Zilliqa protocol. These tokens will be taken from the allocation of tokens accorded to our R&D Foundation (capped at 150M tokens or at 15% of our token supply). The total token circulating supply of BOLTs will remain the same as before.
“As a long-standing partner of the BOLT ecosystem, we are looking forward to facilitating BOLT’s video analytics and payment reconciliation systems through Scilla, Zilliqa’s smart contract language. We will be working closely together with BOLT to bring the power of Blockchain to more content creators and users around the world.”
— Max Kantelia, Co-Founder of Zilliqa
Driving the utility of BOLT tokens continue to be a driving focus for us. The native BOLT BEP-2 tokens will be tradable and instantly available for deposits and withdrawals within BOLT’s two applications to bring the blockchain to the masses. BOLT+is a streaming application with a curated blend of live TV channels and video playlists for different moments, genres and moods. The BOLT Wallet allows users to store the BOLT Token, and mobile data redemption packages. Together, both applications aim to empower half of the world’s population, the underbanked and unbanked, known as those with limited access to formal banking structures and data accessibility. By giving them unprecedented access to the information highway, which includes internet connectivity, information, and entertainment, the applications will also allow content creators and users to be rewarded for their time and quality of content submitted on BOLT. Both applications will be launched in Summer 2019.
As always, we remain keenly committed to building the leading ecosystem in the world for our users, partners, and content creators. Today, BOLT continues to grow and expand its existing partner ecosystem across the world. These include telco partnerships for data bundling and direct carrier billing, innovative content broadcasters who want to engage with audiences in emerging markets, and other rich media verticals such as gaming and education. We believe that our strategic partnership with Binance is the start of a great journey together to build the strength and scale of our ecosystem for our community.
We will release more details very soon on when you will be able to swap your ERC-20 tokens to the BEP-20 standard, and how you may sign up for an early beta program to test our BOLT+ and BOLT wallet applications. Special privileges will be accorded to participative members who help us make the applications more useful for everyone!
Have a great one, and see you all on our next update! Stay BOLTastic!
Thanks for reading! Join us on Telegram to participate in discussions on how we can make BOLT a movement we can be proud of. Drop us a note at enquiry [at] bolt.global for suggestions on what you would like to read next.