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Bit.Country Pioneer Crowdloan on Kusama

Published date: October 22 2021
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We will make history by bringing mainstream adoption to web3.0, we invite you to join us as we will bring individualized worlds to people.

Bit.Country & Metaverse.Network is a platform & blockchain ecosystem for user-created metaverses, games, and dApps.

Community owners, influencers, KOLs, and individuals can launch their own metaverses for their members, fans, followers, families, and friends.

All you need to launch a metaverse is at least one land block plus $NEER token to pay a small gas fee.

In your metaverse, you will have your own name, map, subdividable land blocks, economy, styles, stories, and your own sky in the 3D world which you and your members genuinely own.

Why Support Bit.Country Pioneer

  • Our core founding team launched three other successful global startups in tech, education, and real estate since 2013.
  • We’re launching the world's first Metaverse Career Academy with support from the SG government department — IMDA, Animoca Brands, Berkeley Blockchain Xcelerator, and Republic Realm. See the partners.
  • Accepted participant of Berkeley Blockchain Xcelerator (2021), Bootcamp (2021) at Creative Destructive Lab of Toronto University, and a Web3 Foundation Grant Winner. A member of Substrate Builders Program.
  • Our testnet has over 1600 node operators. Node operators are excited about energizing one of the biggest social experiments on web3.0.
  • On our early access waiting list, there are 60,000+ users eager to create their own metaverses for their people, and grow it into a valuable asset.
  • We designed our token distribution in a community-first approach.
Just as Bit.Country will serve as the de-facto metaverse portal of Polkadot, Bit.Country Pioneer will serve as the metaverse portal of Kusama.

New Creator-Fan Economy

We are disrupting the current creators’ value system built by web2.0, as traditional social platforms are harvesting the value from the community’s time, only distributing a portion of the profits to the creators while members are only being entertained, but not rewarded.

We are building a future for metaverse owners to have the ability to grow exponentially while letting the members take ownership and earn through a variety of opportunities, benefitting directly from the development of the metaverses they are in.

Crowdloan Reward

As part of the crowdloan, we present an opportunity for those willing to back us by locking their KSM for 48 weeks to help us to secure a parachain slot on Kusama. The decentralized code on Kusama will return the KSM to you automatically after the loan expires.

In return, we will reward the contributors with 15% of the total supply of $NEER tokens, plus other interesting bonuses.

Base Reward

For each KSM you lock away for 48 weeks, you will receive at least 68 $NEER tokens on the Bit.Country Pioneer Network.

*We will use the base reward as the basis for each bonus calculation described below. (In case of any doubt, they don’t compound.)

Bonus Reward 1 — Early Bird

The first 1000 participants will receive an extra 10% bonus.

Bonus Reward 2— Referral

If you refer someone and that person uses your referral code, both parties will receive an extra 5% bonus split (2.5% each) based on referred’s contribution.

For example, if you referred someone who received 100 $NEER from their base reward, we will award an extra 2.5 $NEER to you and the referred.

You will receive a referral code after making a contribution on this page. [LINK PENDING — UPDATE SOON]

❤️Bonus Reward 3— Land for Your Own Metaverse

We will gift you land block(s) if your contribution is qualified. This additional reward will enable you to launch your own metaverse for your friends, families, or communities without breaking the bank.

You can subdivide your land block(s) in your metaverse, sell or gift them to someone who deserves a space in your world. Check this for future land potential.

The details of land rewards for participants will be announced after we win the Kusama parachain auction.

HINT: We will pay attention to early contributors as well as the total KSM you contribute, also we want to have a fair distribution. Since this is an additional gift, the final details are at our discretion.

Reward Distribution

We will distribute 30% of the total reward at the Token Generation Event (TGE). The remaining 70%, will be distributed to you linearly over 12 months.

If you were gifted with land blocks(s), we will distribute them shortly after the Bit.Country app goes live.

Contribute Now (Coming Soon, waiting for Kusama Council Announcement)

  • Method 1 — You can go to Kusama's official standard crowdloan page.
  • Method 2 — You can contribute using our crowdloan page. The referral codes are only available on this page.
  • Method 3 — (coming soon through SALP by Bifrost)
  • Method 4 — (coming soon through Zenlink)
Contribute to make the canary dance!

✔️By now, you should have enough knowledge to start contributing. If you are interested to know more, please continue to read.

$NEER Token Utility

$NEER, the native utility token on the Bit.Country Pioneer Network, is used for paying transaction fees and future participation in the governance of the multi-metaverse civilization.

$NEER is also used for major transactions inside Bit.Country Pioneer Network.

  • Bidding for periodical land auctions on the platform
  • Minting new assets
  • Trading
  • Or any blockchain level transactions & extrinsic.

The total Supply of $NEER is 100 million or 100,000,000, and it is a deflationary utility token.

Envisioning of Your Own Sky

Everyone wants to have their own rooftop, now you can have the sky that you desire, whether you like your world hovering in space or creating a new culture on a faraway planet that only you can imagine.

Think of a name for your world now, and that will be yours in the $NEER future. Only a few clicks to have a map and exciting 3D world, ready for you to deploy the land you win. For you and your fam to enjoy together.

Turn your dream into a reality; create a legacy with your community that is forever recorded in the Kusama metaverse machines.

Bring or mint your cool NFTs, for your community to enjoy and benefit from. Don’t let them gather dust, put them somewhere special, and maybe the surrounding land units could be very sought-after.

Subdivide your land block into land units or group them into estates, to trade or gift them to people who would like to be part of your world. (Save a good spot for us ;-))

Let the subdivision landowners co-build your world. No technical skills are required, we support 3D models within the voxel world (similar to Minecraft) that you can design using your favorite tools.

Community developers will bring you new games; members can join different missions taking place in your world.

Your wallet(s) holding land are visible on the public ledgers of our Bit.Country Pioneer Network, nobody knows who and when someone might drop you some goodies.

Note, you can design your own world. This demo doesn’t determine what your metaverse looks like.

Traversing through the metaverses on the Continuum (global map of metaverses) with your favorite shoes and sunglasses, you may step onto something undiscovered.

Tons of possibilities, surprises, and fun awaits.

Land Means Value, Mining Power & Staking Rewards

There is a limited supply of total land blocks, however, there is no cap on the number of metaverses.

As metaverse owners want to expand their world size, new metaverses will need at least one land block to activate, and land will become rarer and rarer.

Land Owner’s Mining Power

  • Wallets owning land have mining power allocated according to the total area.
  • Wallets with mining power can mine BIT — the in-game currency.
  • You can mine BIT by land staking (see below) or by completing tasks or completing challenges in the games.
  • BIT is used as base material to build on top of your land, it is also used as power to energize items.
  • BIT is also used as part of the matrix to upgrade the metaverse level. Land within a higher level metaverse has more value because of its higher mining power.

Staking $NEER to your Land to Receive Passive BIT

  • To ensure the land or land subdivision is managed in accordance with the specific metaverse’s code of conduct, landowners must stake into their land; we reward a portion of BIT production per period.
  • Local metaverse councils and network metaverse councils are responsible for land code of conduct & slashing proposals

More details about the land economics on Kusama will be released after the crowdloan event.

Community First NEER Token Economics

We designed the token economics to maximize the freedom for KSM crowdloan contributors and community members, and as you can see we have implemented one of the strictest vesting terms for our founding group and private investors as we/they are long-term backers.

Total Supply: 100,000,000 (Deflationary)

  • 15% for Crowdloan Reward — 30% right after Token Generation Event (TGE), 70% linear release over 12 months.
  • 20% for the founding group— 18 months lock after TGE, 100% linear release over 24 months.
  • 17.51% for Private investors Seed— 12 months lock after TGE, 100% linear release over 24 months with the smallest interval possible.
  • 5% for Ecosystem Programs — Advisor portion 18 months lock after TGE, linear release over 24 months. Project grant portions are on the spot.
  • 7.49% for Private investors — To be allocated & vested.
  • 8% for community whitelisting & public sales— To be announced around mid-November 2021.
  • 27% Treasury Reserve — To be allocated and/or vested.

Some of Our Long Term Backers

Plus you.

Journey & Roadmap

  • Kusama parachain auction
  • Community whitelisting and public sales
  • Bit.Country Pioneer Network blockchain goes live
  • Enable transfer & exchange partnership
  • Onboard initial ecosystem projects & partners
  • Incremental releases of UI features
  • The genesis of metaverses & land formation
  • Land development, subdividing & subdivision trading
  • Land self-staking rewarding BIT & earning BIT through tasks in 2D or 3D
  • Platform provided games & missions
  • Platform land auction to release allocated land blocks per period from metaverse council. Allowing more metaverses to be born.
  • More user-created games are available throughout our DApp store for metaverse owners to deploy to their world.

FAQ

Q. How much NEER will I get for my KSM support?

A. For every 1 KSM contributed, a minimum of 68 NEER is rewarded.

Q. What does it mean to unbond my KSM, and how do I do it?

A. When nominating on Kusama, you have a delayed exit period, called the unbonding period, which serves as a cooldown. You will not be able to transfer your tokens before this period has elapsed.

Q. Do I have to unbond my KSM if they are on an exchange?

A. Not necessarily. You need to contact your exchange to find out how to participate directly on the exchange. If it is not supported on your exchange, you need to unbound, transfer your KSM to polkadot-js extension wallet, and use one of the aforementioned methods to participate.

Q. How long will the KSM tokens be locked?

A. Your KSM will be locked for the entire duration of Bit.Country Pioneer’s parachain lease. The lease period is 48 weeks (to be precise, Bit.Country Pioneer is leasing eight 6-week slots).

Q. Will my KSM be returned after the parachain lease ends?

A. Yes, your KSM will be automatically returned to you when the parachain lease ends.

Q. What if Bit.Country Pioneer doesn’t win the parachain auction — what happens to my KSM?

A. If Bit.Country Pioneer does not win the initial auction, it will continue to bid in the subsequent auctions. If Bit.Country Pioneer fails to win an auction for six weeks after the beginning of the crowdloan, then it will end the crowdloan and return all funds to holders.

Q. How can Bit.Country Pioneer use the KSM support from the community?

A. The KSM support will be in a module on the Kusama Relay Chain and can only be used exclusively for the parachain auction and bond and cannot be transferred.

Q. Do referrals work if I’m participating through an exchange?

Exchanges may have different promotion schemes. The following exchanges will be supporting Bit.Country Pioneer’s crowdloan. Please get in touch with them to find out. Kraken, OKEx, Kucoin, Huobi (TBD)

Q. Can I withdraw my KSM from the crowdloan?

All submissions to the crowdloan module are final and cannot be withdrawn. You will automatically receive your funds at the end of the parachain lease.

Q. Can I earn KSM staking rewards while my KSM is locked?

No. KSM contributed to the crowdloan are locked on the Kusama Relay Chain. You will, however, receive NEER tokens based on your contribution once Bit.Country Pioneer wins the auction and launches on Kusama.

Q. Can I contribute to the Bit.Country Pioneer crowdloan before the auction starts?

Yes, you can contribute to the crowdloan before 23/10/21, when the auction officially starts, as long as the cap of 222,222 KSM for the Bit.Country Pioneer auction bid is not yet reached.

Q. Where are the KSM held during a crowdloan?

All KSM contributed to a crowdloan are held on-chain in the respective crowdloan module on the Kusama network.

Q. I added 1 KSM to the crowdloan. Can I add more now?

Yes, as long as the auction period is open, you can add more, unless the cap of 222, 222 KSM for the Bit.Country Pioneer auction bid has been reached.

Q. Are there any restrictions for residents or citizens of some countries to participate in the crowdloan?

From a technical perspective, you can participate in crowdloans without any restrictions. However, your participation may be restricted by the regulations in your jurisdiction; please review these before participating.

Q. Is there a minimum amount of KSM for participating in the crowdloan?

Yes, the minimum is 0.1 KSM for each vote.

Q. Is there a maximum amount of KSM for participating in the crowdloan?

No, unless the maximum cap of 222,222 KSM has been reached for the auction.

Q. What’s the cap of the Bit.Country crowdloan?

The cap of the Bit.Country crowdloan is 222, 222 KSM; this means that no more than 222,222 KSM in total can be contributed to the crowdloan.

Q. What wallet can I use to participate in the crowdloan?

To vote for Bit.Country’s auction bid, KSM holders can lock their KSM for Bit.Country via Polkadot.js. Please do your research before participating, especially if you are using any other platform that offers crowdloans.

NEER Tokens

Q. What is the purpose of the NEER token?

The NEER token serves three key functions:

  • The foundation of governance of Bit.Country Pioneer
  • Staking
  • NEER as a utility token to pay fees for various network activities

Q. How many NEER tokens will be distributed in the crowdloan?

Fifteen million NEER tokens, which is equivalent to 15% of the token supply, will be distributed to contributors of the crowdloan module.

Q. Is there a vesting period on NEER tokens?

Yes. 30% will be unlocked and transferable upon receipt of your NEER tokens, while the remaining 70% will be vested and gradually unlocked over the lease period. However, the full balance can be used to participate in governance.

Q. Will I receive NEER tokens for participating in the testnet?

No.

After the Parachain Auction

Q. If I contribute my KSM after the candle has gone out, does my KSM stay locked up until the end of the slot?

Yes, all KSM in the crowdloan module will remain there until it is released either after the lease period ends (if the auction is successful) or after the end of auction 10 (if unsuccessful).

Q. If the crowdloan candle goes out before I contribute my KSM, do I still receive my NEER token?

After Bit.Country successfully wins a slot, all KSM participants will be eligible for a minimum of 68 NEER Tokens for every 1 KSM contributed as a “thank you” for their support.

Q. How long before Bit.Country becomes decentralized, and the crowdloan is paid out?

There are a few technical steps here, so we cannot provide a firm date when the crowdloan reserve payout may occur. Key milestones are:

  • Secure Bit.Country Pioneer parachain slot via crowdloan
  • Launch Bit.Country Pioneer mainnet
  • Test and launch Bit.Country governance
  • Decentralization of the network and activation of governance
  • Governance votes on the distribution of the crowdloan reserve

Q. Will I have the choice to participate in another parachain offering in the future after this first parachain lease ends?

A. Yes.

Q. How much is a NEER worth?

NEER is not yet live, is not yet tradeable, and is not yet on exchanges; therefore, it currently has no developed market value.

Q. What happens at the end of the Bit.Country parachain slot lease?

At the end of the parachain slot lease, your KSM will be returned via the crowdloan module.

Special acnknowledgement to previous parachain participants, without them, we wouldn’t be able to summarize the detailed FAQs

For other links, please go click Linktree below,

Start your own metaverse | Linktree

Thank you.

The End of Document