we hosted an amazing AMA with BIB Exchange on 8th of September
And here we will put some of the best questions:
Q1. Introduce yourself and What’s BIB Exchange and the $BIB token?
About me and the BIB: Once a Bitcoin early miner in 2013 and experienced in the exchange business from 2017. Building a new exchange is for the expansion of the crypto industry which still has room for growth in the next 20 years and working with the BIB group to provide user-friendly products and interfaces.
Nowadays, the technology behind cryptocurrency is changing daily, for current blockchain technology from Web 2.0 applications to Web 3.0 covered blockchain technology, Metadata, Defi, DAOs and GameFi.
And yes, less projects defined what web3 is and how the ecosystem works to bring the mass benefit for the whole ecosystem and importantly to the holders.
BIB Meta is developed as the world’s first Web3 ecological exchange (Web3 CEX), vision to be the largest exchange platform in Southeast Asia. And, $BIB is the first CEX platform token strong connection with #NFT and Community ecosystem that other exchanges never touched. We call it: First CEX with #web3 Ecosystem, we would build more services with the $BIB ecosystem.
Q2. What’s the idea and the pain point of the market the $BIB ecosystem solves?
We have experienced team doing brainstorming and real approach towards the market, we realized:
- Web3’s Lack of Traffic and Funding Portals
- Security Issues
- Privacy Issues
- Ecological Construction Issues
- Current Market Gap Between Web3 Projects and CEX
In order to solve the problems of Web3 in connection with capital and traffic, BIB Meta will be combined with BIB Exchange. This in many ways aids BIB Meta since BIB Exchange is a centralized trading platform that owns convenient and smooth transaction and traffic channels.
Also, you can check the picture about BIB Exchange x BIB Meta connection:
Q3. What’s about the role of $BIB token in the BIB Exchange and tell us about the tokenomics?
$BIB created a DEX+CEX development path with exclusive traits. $BIB holders can earn profits from BIB group’s decentralized protocol BIB Meta and centralized crypto trading platform BIB Exchange including but not limited to capital gains of asset appreciation, transaction fee dividends, NFT minting, and other virtual entertainment utilities.
About the $BIB tokenomics, relate to the infographic below:
For full information of the Vesting, TGE,… please read the Whitepaper:
https://bibmeta.gitbook.io/whitepaper.en
Q4. How do you raise funds for the $BIB and to prevent the pump and dump problem?
BIB was officially founded in 2021, BIB Exchange raised a US$ 20M first-round fund led by top blockchain investment firms in Singapore, with a view to developing the services in the cryptocurrency market.
BIB Meta has received strategic investments from top-tier information technology giants in Southeast Asia as a way to accelerate the expansion of the BIB Meta ecosystem. With this investment, BIB Meta will continue to grow its market share and reach out to partners around the world. 🚀
Q5. Most important thing, what’s the plan to run the IDO/IEO of the $BIB token and NFT collection?
The IDO/IEO is coming up within this month Sep 2022
IDO will be held on some trusted launchpads as PinkSales at the initial price at 0.0002$
IEO will be on BIB Exchange (www.bibvip.com) with the better allocation of tokens and shares between BIB users. You can register a BIB account and get ready with the USDT deposit preparing for the $BIB IEO.
Also, the allocation for the IDO/IEO will be only 2%. After that, you can trade $BIB on DEX (PCS) and CEX (bibvip.com).
For NFT whitelist, kindly join the community @BIB_Global and the Discord https://discord.com/invite/bibexchange. We will have some give-away activities for BIB users. Some of the art of World Cup NFT I posted below.
And here we will put best questions from our members and BIB Exchange fans:
Q1. With the emerging trend of METAFI, how does BIB Meta fit into this narrative by incorporating Defi, Gamefi, and NFTs together to solve the ecological construction issues in Web3?
🔹 MetaFi, the metadata structure allows for blockchain interoperability across different chains. This upcoming development technology can be used in:
1️⃣NFTs Marketplace
2️⃣Yield Farming NFTs
3️⃣Virtual World
4️⃣GameFi
5️⃣ Fan Token
BIB Meta has a different approach to metaverse interaction by converging NFTs, Gamefi, Defi, Nodes, and decentralized applications on its web3 building.
Q2. Do you have it in future plans to provide more utility to the $BIB token?
The $BIB token ecological function can be seen below which provides more utility to our token and also for an early community member to be rewarded and protect the long-term holders of the $BIB.
As a platform token, seeing from 2-3 yrs period, none of them let user lose money as a hodler, simply understand is normally platform token just have one ecosystem with exchange IEO, trading fee deduct, or the biggest utility is consumed as Gas on their smart chain.
$BIB DIVIDEND
By holding a BIB token. There are 03 ways to enjoy token dividends
📍hold in centralized exchange wallets (system counts via asset snapshot)
📍hold in a decentralized wallet (automatically executed via smart contracts)
📍delegate to the node
Prize pool source
📍Dex seller: 10% charges, 6% transferred to the BUSD pool, 3% to the liquidity pool, and the remaining 1% will be burned.
📍Transfer of BIB token: 10% charges, 6% transferred in the BUSD pool, 3% to the liquidity pool, and the remaining 1% will be burned.
✴️For the dex holders, the profit sharing mechanism will be determined by the smart contract and cex holders will be determined by the snapshot.
Q3. Does the BIB Exchange have a listing plan? I know lots of potential projects that will pump and can leverage the Exchange brand name.
Yes, the listing for other projects on bibvip.com is there. We have R&D team and the strategy to early adopt the potential project from the beginning and list their token on the BIB Exchange.
Also, we listen to the community to pick the top of mind projects and some of the name I can say now in the plan to list are Aptos and Sui. You also can suggest us by dropping the names of coin/token in @BIB_Global.
Q4. Why should we trust BIB Exchange? What are the long-term benefits for the users, especially for traders on having to trade on BIB Exchange?
BIB exchange offers a wide range of trading products for users. BIB also ensures that traders enjoy these services while charging low fees. The list of trading services on the BIB exchange includes:
Spot trading: with an average daily trading volume of $80 million, supports over 50+ currencies, and a vast array of perpetual swaps to satisfy traders’ needs, thus increasing liquidity on the exchange.
Futures: which has an estimated value of 9,000 active users daily and an average daily trading volume of $1 Billion.
BIB exchange is a trustworthy centralized exchange with complete transparency.
Q5. What are your plans for the next 6 or 12 months?How do you plan to grow and gain $BIB real-adoption?
In March 2022, the team formed in Singapore and launch the BIB Exchange at www.bibvip.com
In June 2022, BIB token’s official website launched at www.bibmeta.net
In July 2022, BIB token’s white paper launched. Check out here:
https://bibmeta.gitbook.io/whitepaper.en
In August 2022, BIB token successfully passed the audit by Armors Labs. Check the audit file here: https://www.livebitcoinnews.com/bib-token-excellently-passed-smart-contract-audit-by-armors-labs/
In September 2022, BIB token prepared for IEO/IDO & launching trading pairs on PancakeSwap network (BSC).
In October 2022, BIB Team will open a wide range of token applications including NFT minting, staking, Game-Fi activities, and other mechanisms.
Q6. Do you have any ongoing or upcoming reward $BIB token? Please let us know.
With the $BIB token, the upcoming Testnest program and Airdrop event to celebrate the IDO/IEO will bring you the biggest opportunity to own the $BIB at ZERO Cost. Just join our BIB official channels to get the latest news (@BIB_Global). We also have upto 10 local communities, hope you will be a part of the BIBiers.
We will have some activities to give rewards to BIB Exchange users by register and trading with the BIB Exchange at www.bibvip.com or the BIB app (IOS and Android). Also, you can rely on the referral program to earn the trading fee with BIB when share the ref. link to your friends.
Q7. Do you have the white-paper? What’s the important parts we can refer to?
We publish the whitepaper on Github: https://bibmeta.gitbook.io/whitepaper.en
You can also find it on the website: www.bibmeta.net
Regarding the Whitepaper, let’s focus on reading: BIB Solution, BIB Tokenomics, BIB Ecosystem and NFT Utility.
We also map almost information into the infographics for friendly approach and understanding.
Q8. What’s the initial price of the $BIB token and Do you have a single staking function? How many %APY can you expect?
$BIB initial price at 0.0002$
We have the staking function for the token with the expected APY at a reasonable rate aimed at the higher TVL and growing the DeFi function effectively. We also keep the holder earning $BIB along the time with burning and the tax fee mechanism.
Q9. Is the BIB Exchange safe? Has the $BIB token smart contract been audited?
For $BIB and #NFT audit, will be finished in early this month and later this month with @CertiK and Armors_Security
The link to the Audit file, you can check here: https://github.com/bibvip-github/bibcoin/blob/main/audit/BIBToken%20(BIB)%20Token_audit.pdf
Q10. I heard about the Testnet plan on your BIB Meta website, how does it work?
We would like to show all of you how the BIB Meta testnet looks like. We will have some tasks to give the users to try us on the web3 ecosystem.
First, users can easily connect the Metamask wallet, choose the BSC mainnet.
Then, we will provide some tasks that are related to the main function as: Receive $BIB token to mint NFT mystery box.
In the box, you have the NFT World Cup star card which are used to fuse into the higher rate card and mining community node.
Details will be update here: @BIB_Global
Q.11 Since NFT is popular Nowadays, is there a plan for NFT integration??
The plan to launch of BIB Meta NFT
Issuing public chain: BSC
Protocol: ERC721A, BSC chain supports ERC721 protocol
Royalty settings: 7.5%
Quantity: 160 football players, 150 1-star cards for each player, total 24,000 NFTs. 10 additional tier S players’ 3-star cards for auction.
Additional Notes:
a. BIB Meta is going along with people’s favorite Qatar World Cup 2022, creating the trading cards of a total of 32 teams with 800+ players.
b. BIB Meta will design the NFTs based on the top 5 players of each team according to their personal net worth on transfermarkt for World Cup 2022. By also referring to WhoScored and other related websites, 160 players will be graded in accordance with tiers of S/A/B/C based on the ratings of all soccer players which the numbers are 10/30/50/70 respectively.
c. Each football star has 150 1-star trading cards made available for sale, and every 5 trading cards can be fused into one with higher star. Along with the 3-star cards of 10 tier S football stars, there will ideally be only 170 3-star cards and 160 4-star cards left in the end.
Q12. Do you have a AUDIT Certificates? Or are you Working to AUDIT Your project, so that the security of the project becomes more secure and reliable,?
In August 2022, BIB token successfully passed the audit by Armors Labs. Check the audit file here:
Q13. Where can I buy your tokens right now what is your current contract and how can I buy them?
Or, Do you have any platform to earn your tokens?BIB Exchange group
The IDO/IEO is coming up within this month Sep 2022
IDO will be held on some trusted launchpads as PinkSales at the initial price at 0.0002$
IEO will be on BIB Exchange (www.bibvip.com) with the better allocation of tokens and shares between BIB users. You can register a BIB account and get ready with the USDT deposit preparing for the $BIB IEO.
Also, the allocation for the IDO/IEO will be only 2%. After that, you can trade $BIB on DEX (PCS) and CEX (bibvip.com).
Q14. Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?
The BIB is the global exchange which was officially founded in 2021, BIB Exchange raised a US$ 20M first-round fund led by top blockchain investment firms in Singapore, with a view to developing the services in the cryptocurrency market. We are building the global community along with the local communities. Welcome to join us @BIB_Global
Q15. What do you have?
1️- Telegram Group
2️- YouTube Channel
3️- Medium
4️- Discord
5️- Twitter
6️- Website
FOR this project , where can I get the latest information and what is the latest plan for your project?
For all of those official channels and the necessary links, you can easily find it all here: https://linktr.ee/bib_exchange
And this was the end of our AMA with BIB Exchange.
You can find us here:
Website :http://www.bibvip.com/
Telegram community :https://t.me/BIB_Global
Twitter :https://twitter.com/bib_exchange
Medium :http://bibexchange.medium.com/
Facebook :https://www.facebook.com/bibexchangeofficial
Instagram :https://www.instagram.com/bib_exchange/
LinkedIn :https://www.linkedin.com/company/bibexchangeofficial
Whitepaper :https://bib-meta.gitbook.io/whitepaper.en/