BitWell Monthly Report (March 2022)

Product Technology

1. Spot

a. Innovation Zone launches Evryne (EVRY) spot and opens EVRY/USDT trading pair; Evrynet is a smart routing blockchain developed in partnership with Kyber Network and Stellar. Evrynet’s vision is to lay the foundation for CeDeFi’s financial services network. The first application to be built on Evrynet is the decentralized trading platform Evry.Finance, which will seek to bring institutional liquidity and CeFi assets to DeFi.

Evrynet has received a $7 million investment led by Signum Capital, a Singapore-based blockchain venture fund, with participation from Petrock Capital, Ellipti Ventures and others.

b. The Innovation Zone launches Sypool (SYP) Spot, an asset management protocol on Solana that uses a more “blockchain” approach to benefit fund shareholders by pass-through (SYP) of fund shares to raise capital.

Sypool Protocol has received a private funding round investment which NGC Ventures, Bella Protocol, Evernew Capital, Solar Eco Fund, SkyVision Capital, Nabais Capital, WOO Network, Kronos Research, Aussie Capital, OIG Oracles Investment Group, Exnetwork Capital, Blockwall and others are involved.

c. Innovation Zone launches ApeCoin (APE) spot. The launch of APE aims to transfer the control of APE ecosystem to existing Boredom Ape BAYC and MAYC NFT holders, and expand the APE ecosystem to cover a broader user base, support the creation and development of new products and services to enhance the ecosystem, and promote community governance in the form of DAOs.

d. The Innovation Zone launches DeFine (DFA) spot, DeFine is a NFT social platform for all creators, which facilitates all social interaction, engagement and communication among creators and their fan base through digital assets such as NFT and social/fan tokens, as well as real assets on the blockchain.

DeFine has received a strategic investment from the Wavefield TRON Foundation and it is integrated into the TRON ecosystem.

e.Meta Universe Zone launches Victoria VR (VR) spot and opens a deposit trading competition. Users who participate in the deposit and trading can jointly share 5000 USDT worth of VR.

Victoria VR, a blockchain based MMORPG with realistic graphics built on Unreal Engine, created and owned by its users. In the Victoria VR world, users can socialize, work, earn money and have fun in it.

2.Perpetual contract

a. The settlement time of the perpetual contract funding fee is adjusted from 1 hour to 8 hours, and the settlement is charged at 00:00, 08:00 and 16:00 daily (Singapore time). Only when a position is held at the time of settlement will the user be required to pay or receive the funding fee. If a position is closed before the fee is charged, no funding fee is required.

b. Launch Green Metaverse Token (GMT) perpetual contract and open trading tournament, trading users can share a total of 5000 USDT rewards according to their ranking.

Green Metaverse Token (GMT) is the governance token for STEPN, which is a movement-as-you-go campaign app. STEPN has a built-in wallet, NFT marketplace, exchange and a rental system that allows non-crypto users to use STEPN as well.

c. Launch ApeCoin (APE) perpetual contract and open a trading competition where users can share a total of 5,000 USDT rewards based on their ranking.

3. The thirteenth period of the Vault ended with nearly 120 million WELL deposited by users, and 645,000 WELL rewards were jointly shared.

4. High-yield financial prize pool is launched: BTC and ETH added two new 30-day and 60-day prize pools, with annualized returns up to 18%.

5. Mobile iOS version upgraded to 1.12.5, adding fund flow view function; Android upgraded the new Pro version to 1.7.13, with a more smooth trading experience.

🔹Marketing Operations

1. BitWell reaches a new milestone as 24-hour trading volume exceeds $200 million, surpassing well-known platforms such as Bittrex, FTX.US, Bitstamp and Gemini.

Bloomberg related reports:

https://www.bloomberg.com/press-releases/2022-03-29/bitwell-a-growth-asset-platform-powerfully-breaks-the-ice-in-a-cold-market-with-over-200-million-in-24h-trading-volume

Nasdaq:

https://www.nasdaq.com/press-release/bitwell-a-growth-asset-platform-powerfully-breaks-the-ice-in-a-cold-market-with-over-

2. As the war between Russia and Ukraine broke out, Western countries have imposed sanctions on Russia one after another, and many countries have requested that sanctions be imposed on Russian users in the crypto field as well.

BitWell holds the principle of privacy and inviolability of private assets, and will not allow the legitimate rights and interests of ordinary Russian users to be plundered without reason.

BitWell has rejected relevant requests from Japan, Ukraine, the United States, South Korea, the European Union and many other countries and regions. Some of the reports are as follows.

Refusal to Japan:

https://www.bloomberg.com/press-releases/2022-03-22/bitwell-rejects-russian-user-ban-ordered-by-japan

Refusal to Ukraine:

https://www.bloomberg.com/press-releases/2022-03-23/bitwell-rejects-ukrainian-deputy-pm-s-call-for-exchanges-to-ban-russian-users

Refusal to the United States:

https://www.bloomberg.com/press-releases/2022-03-26/bitwell-responds-to-the-u-s-doj-s-prosecution-for-helping-russians-hide-assets-no-personal-data-will-be-provided

BitWell will exempt transaction fees for all users in Russia during the war and provide exclusive customer support services. A Russian version is already under development and BitWell will provide even better services to Russian users in the future.

The BitWell Russian community is open currently and the number of followers has grown by nearly 1,000 within three days, with an online rate of 30%.

Click to join the Russian TG community:

https://t.me/BitWell_Russian

3. To give back to the new and existing users, BitWell brings you a special spring benefit of 20 Anonverse NFT mystery boxes. Users can get them for free through 3 ways: new registration, holding a position in WELL, and Twitter interaction.

The Anonverse NFT mystery box was created by a completely anonymous team with extensive experience creating NFT artwork and specializing in unique dynamic NFTs, which can unlock unique cryptocurrency NFTs. Only a very small number of mystery boxes remain to be traded in the NFT marketplace, and the price is already up to $5000.

4. Launch a perpetual contract trading fund giveaway activity.

During the campaign period, newly registered BitWell users who complete the KYC and participate in perpetual contract trading can win the corresponding amount of trading funds based on the average daily retention amount of their perpetual accounts.

All profits generated by using the trading funds belong to the user and can be transferred and withdrawn at any time.

5. In order to thank the community for their support, BitWell launched a VIP campaign for free when users deposit.

a. Users who deposit a total of $1000 within 7 days can get the VIP 6 level perpetual rate opportunity for free, valid for three months.

b.Spread the campaign poster on Twitter, TG, Discord, WeChat friends circle and other social media, and you can get the chance to enjoy VIP 6 level perpetual renewal rate for free, valid for three months.

Users who participate in both depositing and forwarding activities can accumulate the VIP level rates for the duration. VIP 6 level perpetual rates (Maker 0.02%, Taker 0.036%) are currently the lowest rates in the industry.

6. Participate in contract trading, receive WELLoot NFT for free, and share 700,000 WELL then.

During the campaign period, users participate in perpetual contract trading, the platform will select 10 lucky people daily to receive WELLoot NFT for free.

If users who hold a position in WELL participate in perpetual contract trading, they can also share a total of 700,000 WELL in addition to the reward.

7. Community activities:

a. Leo, Core Contributor of XCarnival, a meta-universe asset-backed lending platform, will be a guest in the English community. Users who participate in AMA interactions and questions can share a $500 USD.

XCarinval provides collateralized lending services including all kinds of NFT assets as well as long-tail assets, providing effective value release for liquidity-starved assets. XCarinval initially creates a revolutionary time-limited auction clearing mechanism, with lower fees, higher rewards for users, cross-chain deployment and other first-mover advantages.

XCarinval aims to realize “everything is collateralizable” in the metaverse.

XCarinval’s official Twitter account retweeted the AMA event.

At the same time, BitWell Labs and XCarnival have also entered into a strategic partnership to build a more user-friendly metaverse ecosystem.

https://bitwellglobal.medium.com/bitwell-labs-and-xcarnival-have-reached-a-strategic-partnership-to-co-build-a-more-user-friendly-e99b8a3f2d21

A full recap of this AMA session can be found at:

https://bitwellglobal.medium.com/bitwell-ama-how-to-rescue-nft-liquidity-in-the-era-of-metaverse-6472f89da5e2

b. Smart Routing Blockchain EvryNet’s CEO — Korapat Arunanondchai and CTO — Muharem Hrnjadovic were guests of the English community. Users who participate in AMA interactions and questions can share $500.

Evrynet’s vision is to lay the foundation for CeDeFi’s financial services network, with the first application being a decentralized trading platform, Evry.Finance, which provides flexibility, stability and deep liquidity to users as it seeks to bring institutional liquidity and CeFi assets to DeFi.

Evrynet official tweet retweet the campaign.

Open question session, community users ask questions actively:

A full recap of this AMA session can be found at:

https://bitwellglobal.medium.com/introduction-to-evrynet-and-evrynet-dex2-0-bridging-cefi-and-defi-74c2319d0470

c. Jackson, co-founder of Sypool Protocol, is a guest in the English community. Users who participate in the AMA interaction and ask questions can participate in sharing the SYP prize pool which is worth $500.

Sypool Protocol is an asset management protocol on Solana that raises capital by pass-through (SYP) of fund shares. Sypool’s fund manager has more “blockchain” ways to benefit fund shareholders.

Sypool has already received investment from blockchain venture capital firm Hengxin Capital.

A full recap of this AMA session can be found at:

https://bitwellglobal.medium.com/bitwell-ama-introduction-to-sypool-protocol-how-to-bring-innovative-synthetic-asset-management-979bf4560c05

d. David, co-founder of the decentralized game aggregation platform SeekTiger, was a guest of the English community. Participate in AMA interactions and questions, and you can participate in sharing $500 and 50 SeekTiger mystery boxes.

SeekTiger is a Web3.0-based DAO chain tour aggregation platform that innovatively combines blind boxes, digital tigers, and DAOs to present a funny NFT+DAO+GameFi meta-universe ecology for users.

SeekTiger is committed to connecting virtual digital assets and real assets through technology, ensuring the authenticity and consistency of digital assets and real assets, Chain ID and real identity, and ensuring that everyone can gain and have fun in its meta-universe system.

The AMA that night received a strong response and active user participation.

40 lucky users were awarded with mystery box slots at the AMA instantly, and another 10 mystery boxes, which users won by participating in a retweeting campaign.

A full recap of this AMA session can be found at:

https://bitwellglobal.medium.com/bitwell-ama-the-new-p2e-dreamland-and-dao-paradigm-what-are-the-advantages-of-seektiger-9800fbea156f

Adam, co-founder of the e.metaverse virtual world Victoria VR, is a guest of the English community. Participate in the AMA interaction and ask questions, then you can participate in sharing $500.

Victoria VR offers the first massively multiplayer online open world with a realistic image in virtual reality (VR) — a world built and owned by its users. The resulting metaverse is a shared virtual world where people are free to do “absolutely anything” — from playing games to trading goods.

Victoria VR’s world is a decentralized autonomous organization (DAO) where users have control over the future development of Victoria VR.

A full recap of this AMA session can be found at:

https://bitwellglobal.medium.com/bitwell-ama-introduction-to-victoria-vr-building-the-aaa-live-to-earn-metaverse-ae1540130922

Please click the following links for further information about BitWell:

Twitter | Telegram (Official) | Telegram (Announcements)

Visit us on https://www.bitwellex.com/

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