HONG KONG, Oct. 10, 2019 /PRNewswire/ -- Bithumb Global, the global leading asset exchange, gains greater community adoption with its "BG Staging" initiative which provides one of the only sustainable methods to promote blockchain projects and bring together communities.
With blockchain projects fighting for community adoption in an emerging but niche population, several tactics have been used in the past to incentivize growth. A majority of the tactics such as airdropping have been untargeted and a majority of airdropped tokens lay in dormant wallets that provide zero value to the project in terms of awareness, trading activity or community growth. Incentives can also be driven with pricing pressure, leading to unhealthy marketplace activities. IEOs and ICOs have pricing pressure due to requiring investment from investors and are fundraising activities. Investors are incentivized to recover their investment as quickly as possible and with the liquidity that digital asset exchanges bring, investors often fall victim to herd mentality and can end up in an unhealthy marketplace.
BG Staging changes this incentive with a new paradigm shift designed to increasing project adoption rather than encouraging unhealthy trading behaviors. Instead of requiring investment from community members who often want to recover their initial investments in a short period for fear of manipulation, Bithumb Global is able to leverage their trading community of millions to spotlight a pre-selected project and provide reward vouchers at no risk to investors. Traders on Bithumb Global's platform only need to prove their commitment to the project by performing a soft staking of crypto assets which are unlocked after the reward vouchers are distributed. The vouchers are granted based on staking commitment levels and higher commitments receive greater likelihood of receiving vouchers which are rewarded based on weighted dispensing methodologies. Once the rewards are up for redemption, the vouchers are given out and a multi-stage lock-up period initiates which opens up tokens for trading slowly over time. Since Bithumb Global traders have lowered initial investment risk, the incentive for recovering initial investment capital is less present and gives projects a fighting chance to build up their adoption over time.
The fourth season of BG Staging from Bithumb Global has just reached a record-breaking result. The number of F1ZZ vouchers delivered has reached over 32,000 users. Bithumb Global's website and app have been visited over one million times and over 50 million F1ZZ tokens have been rewarded. Previous graduates of BG Staging include Eon, Fabrk and Tune, which has seen remarkable growth with an average of 3,156% growth. BG Staging provides a new precedent for how project promotion will trend in the upcoming future.
For those interested in joining the BG Community, please find more information at Bithumb Global.
About Bithumb Global
Bithumb Global is a decentralized digital asset trading platform providing world-class cryptocurrency trading services to users worldwide. Derived from Bithumb, one of the most popular cryptocurrency trading platforms in South Korea, BG enables each global user to trade, participate or contribute in the digital assets ecosystem. For more information, please visit https://www.bithumb.pro.
Lin Xu, PR Manager
E-mail: [email protected]
Bithumb Global's Staging Initiative Brings Community-Driven Sustainability to Projects
SOURCE Bithumb Global