🗣Today, on 17 January 2023, starting from 14:00 (UTC+3), the technical maintenance activities will be held on transferring p2p.bit.team to bit.team/p2p.

The p2p platform will be unavailable for the period of maintenance

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It’s been a pretty quiet week, of course, the FTX case is gaining momentum, but there are also some interesting events happening in other areas. For example, ByBit is tightening its KYC policy. What does it mean? Non-verified users will now not be able to use fiat currency as a deposit, nor will they be able to conduct transactions on ByBit’s p2p and NFT marketplace. Accordingly, the limits for non-verified users will also change from 2 BTC/day to $20,000/day and $100,000/month.

Some major changes in cryptocurrency regulation are coming,according to the news…

⌛️ Read time: 5 min

https://coinmarketcap.com/community/articles/63945e89fe0cc4397c0bca81

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🔵 The Bit.Team irrevocably burns 20% of tokens in each company reporting period. The company’s first report was in the middle of the third quarter (22 August 2022). The next fourth quarter report is scheduled for January 2023 and every four months thereafter.

🔵 In order to burn 20% of the tokens of the total supply, Bit.Team must have them on its account. And since all tokens are already redeemed from the market and are held by users, the company to burn BTT must earn them from the services of its platforms or redeem the missing tokens from the market within 1 week before the burn date.

🔵 If the company has more than 20% of tokens remaining at the token burning date, then marketing activities are launched to distribute the excess tokens to users as part of AirDrop.

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All users of BIT.TEAM exchange are well-known with BTT token and its perks and benefits. In the article the previous week we carefully described all available possibilities for users (that’s a lot!).

One of the significant BTT token feature is a technically prescribed burning functionality.
Once in a quarter BIT.TEAM will burn 20% of all company’s profit. Today is the day when burning of BTT happened. At 12:00 (UTC +3) 39,000,000 BTT was burnt.

The maximum issuance was 500,000,000 BTT and due to burning it increased. At this moment. the maximum increase is 461,000,000 BTT.

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