General UPDATE: BitAlliance (February, 2021)

By reading this article, you confirm hereby that you are not a U.S. citizen/permanent resident/representing U.S. company or citizen/permanent resident/representing Company of any jurisdiction, or other countries such as the People’s Republic of China or Japan, where the purchase of Bitpower ($BPP) or Bitpayer ($BPT) tokens is illegal, restricted or requires special accreditation. If any of the above is the case, you should stop reading this article and not follow the Bitpower/Bitpayer/BitAlliance project or participate in any activities related to them. Furthermore, you should consult your local regulators about digital assets and the risks and benefits of investing in them via regulated exchanges.

Dear Power Strangers,

Thank you for your constant support and patience. 2021. is an important year for all of us because it represents the birth of Bitpower and a year where we can learn more about each other and the values we share and represent as a community. Moving forward, all of us have to work hard on establishing a strong foundation for the growth of Bitpower, launching all the products and bringing new developers into our community. Here are some general updates:

SPHERE

We are relaunching SPHERE in the next 10 days with improved functionalities. Since we moved some of the elements from the smart contract to the server, launching of the rooms will be free for us — this enables us to keep the platform running without losing valuable resources. The development team is also adding an internal wallet feature through a third-party API that will enable users to top up their internal balance and use it for participating in prediction rooms. Therefore, users will not have to actively pay for gas fees — they will only pay for them twice (when depositing or withdrawing funds to and from the platform).

What is more, we have acquired SPHERE from their development team hence, we will leave the platform to the community, under their ownership, as a way to generate valuable resources in the future (funds that can be used for hiring and promotion) and reduce the amount of BPP circulating in the market.

GOVERNANCE

To secure the healthy longevity of Bitpower and enable our ecosystem to grow, we need to educate users about BPP (risks, benefits and regulatory responsibilities of holding our tokens) and shift every segment of leadership to the entire community — Bitpower has to be dependent on its token holders and their participation in the growth and development of the project and not a small group of individuals.

As we have already announced, the current leadership team will be stepping down from their roles as we slowly shift the core leadership to the community. Therefore, as the first step, we are announcing that BITCOINTRAPPER is stepping down as CMO of the project and focusing on the promotion of other projects in his portfolio. We are super grateful for his contribution and everything he has done for the Bitpower brand. Once the voting portal is launched, community members will be able to post proposals for Trapper to continue promoting BPP and allocate a budget to hiring him and his team.

NOTE: For the safety of the project and its community members, we do highly recommend and bring to your attention the importance of only hiring partners that will be promoting facts and achievements of the project and not creating hype around speculations.

The rest of the team will step down from their roles once the voting portal has been launched. While they will not be directly involved in the Bitpower ecosystem, they will work on the growth of platforms and services like BitChallengly and Block Insight, which will indirectly create value for the Bitpower ecosystem as their early investor.

CALL FOR NOMINATIONS

We are calling the community to select and nominate candidates for the following leadership roles within the community:

1) Core team leader: A person that will be in charge of representing the community and be their voice in the public, help the community members make smart growth decisions and shape their development direction. They can be anonymous or public.

2) Treasurer: A person that will be in charge of handling the BPP tokens for the community and allocating them to other entities per decisions that will be made by the community through the voting portal that is launching later this month or early March. The only criteria for the treasurer role is for the candidate to either be a public persona or an anonymous members of the community willing to conduct a KYC with the current core team to ensure that they will be fair and transparent within their role as a Bitpower Treasurer.

There are 22M BPP tokens that were locked by LID DAO and will be released over 10 months — 10% monthly. 4,400,000 tokens were already released to us and are being kept in a wallet. Once the treasurer has been selected by the community, we will allocate these funds to them. What is more, as announced in our previous update, our initial intention was to allocate certain ETH that was left for salaries for 2022. to the community but since we had to make certain updates (e.g. SPHERE, additional development, acquisition), invest additional funds in promotion and tasks like listing BPT on Uniswap, partnerships for BPT, etc. we will have to utilize these funds but hopefully, through this endeavor, kickstart the growth of BPT which will create more resources for BPP ecosystem. We also believe that the value of SPHERE for the community is more significant than a small share of ETH.

Since this was not our initial plan, we felt that we still need to find more funds for the community to give them a stable initial run rate, thus we have allocated 1.1M BPP tokens that were left from the initial marketing budget to the community treasury (we will not be spending or liquidating them). Hence, the current balance is 5,522,576 BPP tokens and will grow by 2.2M BPP tokens monthly for the next 8 months. Community can allocate these funds to salaries, promotion or development through the aforementioned voting mechanism, whatever they decide as a collective.

NOTE: We highly suggest that the community does not pursue any listing opportunities outside Uniswap because 1) they will have to allocate funds to exchanges that they will use to manipulate the pricing on the market and liquidate them for their own growth benefits, funds that can be used for salaries or development of new products, and 2) regulations surrounding centralized exchanges are still not clear and consequences of listing on such exchanges can be fatal for the project in the long-term.

BITCHALLENGLY

The development of the BitChallengly platform has been initiated and there were no unexpected delays — NodeFactory has started working on the back-end and front-end segments of the platform and presented us with amazing wireframes as part of the initial design. We will share it with the community when the overall design draft gets finalized. The platform will be initially launching in June with two games: Rock Paper Scissors and Spot the Difference (pictures) and the feature for Gaming Rooms for other blockchain projects and influencers — they will be able to launch their game rooms on our platform and share 50% of revenue with us, a feature we believe will incentivize growth and exposure for BitChallengly. The more revenue is generated, the more BPP gets burned (we will leave the option open for the community to sometimes, if and when needed, request that these funds are allocated to the community treasury for salaries or other activities instead of the burning event).

TABULA

We have initiated the initial planning activities for TABULA which include creating a technical scope of development, defining the core functionalities and the user flow. Once this is finalized next week, designers will start working on the initial wireframes, after which the core development will be initiated. To learn more about TABULA, please read the following document: HERE

The establishment of TABULA represents a creation of a new ecosystem for creators across the globe as it will enable fans and followers of certain publishers, YouTubers, podcast hosts, developers, NFT creators, etc. to form stronger relationships with their favorite content creators, establish a new revenue stream for them — funds that will accelerate their productive output — and shape their creativity by creating request pools on their profiles and helping them understand the needs of their audience.

BITPAYER (BPT)

We will be launching staking for Bitpayer in March through a partnership that will be announced soon. While we wanted to announce a partnership today, there are still certain details that we need to work out in order to finalize and initiate the cooperation for the staking of BPT tokens. The staking will be executed in a farming format where people will be locking liquidity for BPT on Uniswap and earning rewards. What is more, our burning will be organized around this launch (e.g. burning 2 billion BPT tokens three days after the staking has been launched).

More details about BPT airdrop for early BPP token holders will be announced in the first week of March. Airdrop should be executed by the 20th of March.

ECOSYSTEM FOR EVERYONE: TOKEN OF THE DEFI ECOSYSTEM

We have decided to turn BPT into a token of the DeFi ecosystem and publish a call for projects. Each project that joins this ecosystem will get a significant share of the supply of BPT (making them a key stakeholder) and has to integrate BPT tokens within their platform or business model. The more projects join the ecosystem, the more utility, growth and exposure is established — creating value for everyone and accelerating their growth and development, a collective effort for growth. In a nutshell, the goal is for BPT to become a token that supports the growth of smaller DeFi projects in the entire blockchain ecosystem.

We will be publishing a call for projects in the next two weeks.

Thank you everyone for your patience and support. Please do follow the official updates published on our Twitter and Medium channels. As we will be focused on development and growth, we will not be publishing any smaller news updates in the upcoming period.

FOLLOW US ON TWITTER: https://twitter.com/_BITPOWER

VISIT OUR WEBSITE: https://bitalliance.io/