Following the Supreme Court of India’s ‘favorable’ verdict around the legality of cryptocurrencies in the country, India’s largest cryptocurrency exchange ‘Bitbns’ launched its Pre-Public token Sale for BNS token earlier in March 2020, completing its phase 1 of the pre-public sale in just 18 seconds during the first phase of the sale.
Since the judgment, Bitbns is the first to conduct an ‘open-for-all’ token sale in India, and the funds raised during the first phase itself speak volumes about the evolving ‘mass sentiment’ for cryptocurrencies in the peninsular nation. Notably, the success of the first round of the token sale arrived after the apex court decided to strike off the unconstitutional tag from over cryptocurrencies. The BNS tokens are utility tokens that would be helping traders to avail discounts on different trading products on bitbns and other buyhatke products.
Highly anticipated by traders and investors across the world, the token sale concluded its Phase One in an incredibly short span of time. The next three phases of the sale would be conducted soon, wherein the price of the token would be hiked with each successive phase. As per sources, the company looks forward to a sizeable surge in public participation level in the upcoming phases, and would soon announce the date and token allocations for the upcoming phases.
Gaurav Dahake, CEO of Bitbns, says “We are excited to build innovations within the digital asset ecosystem and are touched by the overwhelming support that we have received. We hope to close the following three phases in the same manner. The token is available at discounted prices during different phases of the Pre-Public sale because we want to pass on the benefits to our users, firsthand”.
During the Pre-Public round the company aims to raise $2.4 million. Moreover, post the Pre-Public Sale Initial Exchange Offering (IEO) round would be conducted. Notably, the token would provide users with a flat 50% discount on trading fees and cashback rewards while shopping on e-commerce stores.
Bitbns is India’s largest cryptocurrency exchange with over 74 tradable cryptocurrencies listed and the highest trading volume. The exchange has been a driving force in the cryptocurrency trading sector and has a history of conducting unique events like flash sale for cryptocurrencies, crypto meetups. Moreover, the trading platform has been a pioneer at introducing some of the advanced trading tools and features, like bracket orders, margin trading, trailing stop-limit, price alerts, and much more. The encompassing vision behind the innovations has been developing tools that empower users to save money, make money or reduce their commerce friction.