Biobit token empowers
Zarela platform
Biobit acts as a utility token based on Ethereum Network (ERC-20 standard), In order to facilitate financial transactions.
Check UNICRYPT for our Vesting Contract
Biobits are distributed 85% to the Reward Pool, and 12% to the Vesting Contract
The number of Biobit tokens issued is 20,000,000. Over 85% of the total issued tokens (17,000,000) have been transferred to the reward pool. The reward pool tokens will be distributed through the Proof-of-Contribution (PoC) mechanism. 10% of the total is reserved for the Zarela team and 5% will be distributed through three phases for development.
Total Supply
Reward Pool
Team
Development
BBIT
PoC
The Zarela network operates on a proof-of-contribution (PoC) model and each Ethereum transaction is considered a contribution.
Service based
Biobit tokens can be used by Zarela and all other individual businesses (up to 1 million) connected to the data platform smart contract as their utility token.
Limited total supply
The maximum Biobit token amount is only 20,000,000.
Locked by smart contract
The Zarela smart contract and vesting contract lock up 97% of all Biobit tokens.
Halving
Each 590 Zarela's day, the number of rewarded Biobit tokens is halved.
Burning
The lifespan of each token released from the Zarela reward pool is 45 days, and after that, and any token that hasn't been distributed after 45 days will be disposed of and no longer accessible.
Open source
The code for Zarela is all available on GitHub as open-source, under MIT licesnse.
