Ubit Token (UBIT)

The UBIT token is the native currency of the Ubit blockchain and platform, just like ETH on Ethereum.

UBIT utility:

• Transaction fees Being the native currency on the Ubit blockchain, UBIT is required to pay fees to the network in order to approve transactions.

• Validation Token holders can stake Ubit to become a validator. The minimal staking requirement is 100K. The network is growing, currently there are 60 validators. (https://status.ubitscan.com/)

• Voting Validators vote on protocol changes with their staked UBIT. Which means validators with higher amounts of Ubit staked can have a bigger vote on network upgrades and governance changes (until phase 2 where delegation is activated)

• Staking (for delegators) Any UBIT holder can choose one or more validators to delegate any amount of UBIT they wish. They receive a share of the Ubit block rewards proportionate to the share of their stake in the total stake, minus the minimum 15% fee paid to the validator(s).

• Payments As UBIT is the native currency on Ubit, sending it does not require interactions with smart contracts. Thus, UBIT transfers are potentially faster and less costly in terms of transaction fees.

IMPORTANT: Merely possessing any amount of UBIT tokens does not endow holders with any rights to participate in the governance of the Ubit platform or any revenue streams related to its real-world performance.

Obtaining UBIT

Where to Buy

UBIT is available for purchase on a number of centralized (CEX) and decentralized DEX exchanges.

Centralized exchanges: Gate.io, Huobi Global, MEXC Global, AscendEX, Bimart, Bittrex Global

DEXes: Uniswap V2 and V3 (Ethereum), PancakeSwap (Binance Smart Chain), Quickswap (Polygon), Voltage DEX (Ubit), Sushiswap (Ubit), 1inch (Ethereum), KyberSwap (Ethereum), Loopring (Ethereum).

The best information about the UBIT trading volumes and prices on various exchanges can be found on the Coingecko "Markets" page for the token.

A convenient current way of purchasing UBIT straight from one's bank account is through using the Ubit Cash wallet to deposit Ubit Dollars, and then swapping those to UBIT via the in-app integration with Voltage DEX.

Where to Farm

At the moment, the UBIT token is sometimes used by the project team to power liquidity rewards (yield farming) programs to boost liquidity on DEXes and the participation in the Ubit Lending Network.

The ongoing liquidity rewards programs on DEXes can be discovered here.

Other ways of obtaining UBIT

From time to time, the Ubit team uses UBIT to pay rewards to the members of the community for various forms of participation and community engagement. The best way to stay up-to-date about these opportunities is to follow Ubit's social channels.

The UBIT token is also used to power Ubit grants and bounties. Please consult the Grants and Bounties section for more details.

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