Wednesday, 12 August 2020

Blockbid Exchange has launched, finally!

Here’s the news you’ve all been waiting for… We are live!

We admit it has taken more time than we expected, but we are very happy with the technical functionality of the platform and we hope you will be too. Our beta testers have been extremely helpful in identifying improvements and software bugs over the past months, and we are finally in a position where we can open up trading to all.

As with most exchange launches, the challenge lies in getting liquidity onto the books. Over the past few months we’ve been working closely with leading Australian crypto-economists in designing a world first liquidity incentive model that employs the power of token design to attract large market makers in the industry and ignite early adoption on our platform.

These models will be deployed in the coming weeks.

For now, we would like to invite you to use our platform and enjoy trading. As always, feedback is most welcome and thank you all so much for your support.

Today’s release is about real world testing for our trade matching fee model. Once we are happy with the new fee model, we will be releasing the “Blockbid Dividend Token” (BDT) incentivised token scheme.

What is BDT?

Blockbid Dividend Token (BDT) allows users to redeem a share of their transaction fee revenues as a reimbursement. Whenever you trade on the Blockbid exchange and are charged transaction fees, you will automatically receive a certain percentage back in BDT.

How do I get BDT?

There are two ways to receive BDT. The first way is via trading. As mentioned above, whenever you trade on the Blockbid exchange you will automatically be reimbursed the value of your transaction fees in BDT. The second way is if you a BID token holder, deposit your tokens onto the Blockbid exchange to receive free BDT. The ratio of free BDT to be airdropped to BID holders is still being determined.

What happens if I hold BID but don’t want to trade?

We’re in the process of finalising the details and will provide instructions as soon as they’re available.

All of the final details will be confirmed in the coming weeks. With the platform now open to the public, we can fine-tune our trade matching engine fee model in real time, whilst increasing order-book depth with our liquidity providers and market-making partners.

This is a huge step forward for Blockbid and we’re excited to welcome our community to the next phase of Blockbid’s evolution.

We will provide more information in the coming weeks as we progress.

By Blockbid Exchange
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