Verse is a cryptocurrency project launched by Bitcoin.com in December 2022 with the goal of promoting economic freedom worldwide through blockchain technology. Verse (VERSE) is the rewards and utility token associated with the Bitcoin.com ecosystem.

The Verse token incentivizes users to access various products and services within the Bitcoin.com ecosystem. VERSE is an ERC-20 token issued on the Ethereum blockchain, offering decentralized finance (DeFi) capabilities.

Some of the products that VERSE will be integrated into include the multichain wallet Bitcoin.com Wallet and the Bitcoin.com news platform. VERSE provides a way for Bitcoin.com users to receive rewards for trading, spending, swapping, and staying informed about cryptocurrencies.

VERSE holders can also unlock rewards across tiers, use the crypto as a payment option, and access exclusive services in the Bitcoin.com ecosystem. The Verse project aims to make DeFi more accessible and rewarding, empowering global users with economic freedom in a democratic manner.

Verse operates as a full-featured decentralized exchange (DEX) available at verse.bitcoin.com. The Verse DEX serves as a key component of the Bitcoin.com/Verse ecosystem, providing users with a secure way to trade cryptocurrencies and digital assets in a decentralized manner.

Unlike centralized exchanges (CEXs), DEXs like the Verse DEX do not require a trusted third party or intermediary to take custody of the assets or facilitate their exchange. This decentralized nature allows users more control over their assets and enables direct peer-to-peer transactions.

Verse is available on both the Ethereum and SmartBCH blockchains. Ethereum is a well-established blockchain network, while SmartBCH is a sidechain that aims to provide compatibility with Ethereum's virtual machine and ecosystem. Having Verse available on multiple blockchains potentially increases accessibility and interoperability for users.

Bitcoin.com completed a private sale of VERSE tokens in May 2022, raising $33.6 million in funding. Investors in the Verse project included Digital Strategies, BYDFi Ventures, Blockchain.com, ViaBTC Capital, and crypto leaders and influencers such as Roger Ver, Johan Wu, and David Wachsman.

In October 2022, the platform announced the VERSE ecosystem token public sale. Sale B was held starting from November 1, 2022, raising $50 million. In December 2022, the Verse DEX went live, allowing users to trade $VERSE on the platform.

Bitcoin.com announced a CEX Education Program initiative in November 2022, powered by the VERSE token. The campaign aimed to reward victims of centralized crypto failures and incentivize more users to adopt DeFi platforms instead. Verse (VERSE) was listed on BYDFi in late May 2023.

Verse is an interesting crypto asset to include in your portfolio, especially if you believe in the potential of the Bitcoin.com ecosystem and the DeFi sector of the industry. As Bitcoin.coms utility token, VERSE is being integrated into various applications within the ecosystem to incentivize users and strengthen the Verse ecosystem economically.

As Bitcoin.com introduces new use cases for the token, the VERSE price could strengthen in the crypto market. Increased utility for the token could boost the VERSE price statistics.

The VERSE token price could also rise amid positive or bullish sentiment in the crypto market. Such a mood encourages higher activity regarding trading, swapping, spending, etc., and drives more investors to buy, use, or HODL cryptos such as VERSE, supporting the value of Verse.

Although it is impossible to offer an accurate VERSE price prediction over any timeframe, you could monitor several factors to gain a better understanding of the price trends and volatility in this crypto:

Market Demand and Trading Volume for VERSE

The demand for Verse tokens in the market reflected in trading volume and buyer interest, can impact the price of Verse crypto. Higher demand and trading activity may lead to price increases, while lower demand can pressure the VERSE to USD price downward.

Future Developments in Verse and Bitcoin.com Ecosystem

News related to the Verse project, such as partnerships, technological advancements, or updates on utility integration, may influence investor perception and sentiment, thereby affecting the price of Verse.

Crypto Market Sentiment

The sentiment and speculation surrounding Verse among cryptocurrency investors can impact its price. Positive sentiment, confidence in the project, and speculation about future adoption or utility can contribute to price increases, while negative sentiment may lead to weakness in the $VERSE price.

Verse functions as the utility token for the Bitcoin.com ecosystem and has the following uses:

Bitcoin.coms Utility Token

The Verse token provides utility within and beyond the Bitcoin.com ecosystem. It can be used for unlocking rewards along tiers, as a payment method, and accessing exclusive platform services.

Powers Verse DEX and DeFi Activities

VERSE is a key component of the Bitcoin.com ecosystem, acting as a core decentralized financial utility. The token is incorporated into the ecosystem to strengthen the platform's economy, incentivize users, and reward existing users and token holders.

Supports Bitcoin.coms Multichain Operations

Verse is built on the ERC-20 standard, which operates on the Ethereum blockchain. Additionally, Verse aims to expand into low-fee EVM-compatible chains, enabling its utility and presence on multiple blockchain networks.

Trade or HODL VERSE on BYDFi

Trade Verse cryptocurrency against other crypto assets on BYDFi Spot Market to make the most of changing market conditions and volatility. You can buy or sell VERSE or hold it long-term if you believe in the future potential of the Verse project and the Bitcoin.com ecosystem.

Heres how you can stake VERSE on the Verse DEX to earn attractive APYs:

1. Create an account on Bitcoin.com Wallet if you are a new user. Fund your wallet by buying VERSE on BYDFi or other supported platforms and transferring your tokens to your wallet.

2. Visit the Verse DEX website and connect your wallet to it. https://verse.bitcoin.com/

3. Visit the Staking section on the Verse DEX and click the Stake VERSE button.

4. Enter the number of VERSE tokens you want to stake and confirm the transaction using your wallet.

5. Sit back, earn staking rewards, and grow your holdings by staking VERSE on the Verse DEX.

According to the Verse whitepaper, the total supply of VERSE has been fixed at 210 billion tokens. These tokens will be issued and distributed by Bitcoin.com over seven years.

The token distribution is given below:

1. 69% of VERSE tokens are reserved for community and ecosystem development, including 34% assigned to the Verse Development Fund.

2. 10% of the total supply was allocated to the private sale in May 2022.

3. 6% of VERSEs total supply went for the Sale B round in November 2022.

4. 15% of tokens were distributed among the core Bitcoin.com team.