What is BICO? The full name of BICO is Biconomy. BICO is an ERC-20 token. The issuance date is 2021-12-01, the issuance price is $0.25, the maximum issuance supply is 1,000,000,000 BICO, and the total circulation is
64316700 (2021.12.01). It will play a key role in the decentralization of the network. It will serve as a network fee, incentivizing all stakeholders to protect and maintain the network and participate in network governance, with a total supply of $1 billion in BICO tokens.

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Extracting a large amount of utility for $BICO so that the ecosystem becomes stronger as the network grows. The token enables three key utilities:

1. Network Fees

BICO is the native token of the Biconomy blockchain. The Biconomy blockchain will act as the settlement and validation layer for all activities on the Biconomy network supporting all on-chain activities. Node operators pay transaction fees in BICO to add any information on the chain, and they earn BICO proportional to the work they perform on the network.

2. Stakeholder Incentives

  • (Validators and Executors) must stake $BICO to start contributing to the network. They earn BICO proportional to their contribution and their $BICO stake. The network can also slash their stake in case of bad behavior.

  • Delegators are $BICO token holders who can stake their tokens to further secure the network. They earn BICO proportional to their $BICO stake.

  • Liquidity providers can provide liquidity for a variety of crypto assets on different chains. They will receive a small fee when the liquidity pool is used. They will also earn BICO dollars based on their relative contribution to a given liquidity pool.

3. Governance

$BICO token holders can propose and vote on decisions that affect the Biconomy protocol and the network as a whole. Any $BICO holder can submit proposals for consideration by the wider Biconomy community. We hope to move towards community-led growth and self-sustainability.

Biconomy is committed to the next generation of Web3.0 application infrastructure and simplifies the user's transaction experience. Biconomy provides a hot-swappable API service that allows anyone to access DApps without the need for certain experience and knowledge. Currently, Biconomy's multi-chain repeater infrastructure processes nearly 50,000 transactions per day for more than 70 Web3.0, DeFi and NFT DApps. For ordinary users, all they need is a wallet to connect to any DApp, any public chain, L2 network, and enjoy gas-free transactions. Biconomy simplifies these complex functions through a series of processes. Biconomy is a developer tool provider that simplifies the Web3 experience. Its main business directions are cross-chain applications, ERC20 token Gas payments, and 0 Gas transfer applications. Through Biconomy's API, developers can achieve a simple and customized user experience, reduce user usage costs, and thus promote Web3.0 to further advance to ordinary users. BICO is its native token.

With Biconomy, users will get a simple multi-chain experience, connect their wallet to any dApp, instantly access their funds on any chain or L2/rollup, and enjoy a completely gas-free experience!

Currently, our multi-chain relayer infrastructure has processed 8M+ mainnet transactions and 120M+ API calls for 70+ dApp partners such as Zed Run, Perpetual Protocol, Showtime, Curve Finance, etc., ensuring web2.0 with all the benefits and intuitiveness of web3.0.

There are multiple ways to contribute to Biconomy’s multi-chain relay network:

Node Operator

The relay network is maintained by node operators, who play two main roles: validators and executors. Validators listen to relevant transactions on other chains and record them on the Biconomy chain. Executors see these transactions and act on them.

·Client

All BICO token holders who want to contribute to the security of the network can stake their tokens as delegators. Delegators contribute to the protocol by delegating their tokens to node operators and earn BICO in proportion to their stake.

Liquidity Provider

The relay protocol needs to maintain liquidity pools for all supported tokens on each supported chain to complete transactions on behalf of users. Anyone can provide liquidity for all of these tokens to earn rewards.

Decision makers

All token holders can participate in the governance of the protocol. They can propose new improvements and vote on key decisions.

BICO is the native token and governance token of the Biconomy multi-chain relayer infrastructure. BICO incentivizes all stakeholders to ensure and maintain network security by acting as network fees. At the same time, BICO also participates in network governance.

The total amount of BICO is 1 billion, and the specific distribution is as follows: Early supporters: 60 million (6%) Strategic sales: 63.8 million (6.38%) Private sales: 120 million (12%) Team and consultants: 220 million (22%) Treasury: 100 million (10%) Community rewards and incentives: 381.2 million (38.12%) Public sales: 5,000 (5%).