The Case For $BTR

What Is $BTR

$BTR is the native token of the Bitrue exchange, it has a wide range of functions including trading fee reductions, APY boosts, and even governance capability.

Bitrue Info

Bitrue is a cryptocurrency exchange registered in Singapore and founded in 2018 by Curis Wang. Curis and his team come with a strong financial security background and are the first exchange to provide a publicly viewable insurance fund to help assure users that all funds are SAFU. https://bitrue.zendesk.com/hc/en-001/articles/360049715433-Bitrue-s-New-Insurance-Wallet-Is-Live

When user assets are frozen in any of Bitrue's passive earning features (Power Piggy, BTR Vote, BTR Lockup) the assets are stored in Bitrue's cold wallets and covered by the insurance fund. Cold wallets are far less vulnerable to hacks than hot wallets, allowing Bitrue users to comfortably earn passive income while knowing their assets are in safe hands.

Bitrue aims to be a top 10 exchange in the near future and are well on their way with an average daily volume of around $3 billion and currently rank 13th on Coingeckos exchange rankings. With 364 coins currently listed over 684 trading pairs. Bitrue aims to list seven coins per week in the hope of being a one-stop-shop for all cryptocurrencies.

Bitrue is the world's first XRP-centric exchange hosting over 45 XRP trading pairs and a top 5 exchange for XRP volume. Bitrue is recommended by Ripple with Bitrue founder Curis Wang even appearing in a promo on their Youtube channel . Bitrue was one of the few exchanges that stood behind Ripple and refused to remove XRP from trading when the SEC filed its lawsuit.

Current Utility

Bitrue has many features for generating passive income and $BTR is the fuel that drives them all.

Power Piggy

Earn passive income paid into your spot account daily on over 60 coins, no lockup required.

Boost your APY% and earn VIP caps when you hold $BTR

$BTR Vote

Bitrue lets its users govern the exchange with its innovative $BTR voting feature.

Users use $BTR to vote on coins they want to be listed to the exchange and earn rewards in the form of the coin they voted for, with some APYs hitting 1000%+

$BTR Lockup

$BTR Lockup is a duel lockup feature that lets you earn higher APY% on your coins, $BTR is locked up alongside the coin of your choice and you earn APY on both. Lockups are for 30 days with interest paid out at the end. (Not available on the mobile app, browser only)

Yield Farming Hub

Powered by $BTR, Yield Hub has multiple farms available with returns of between 10 - 150% APY, with average returns around 50% APY.

Token Sales Launchpad

Bitrue holds token sale events where you can receive early airdrops of new tokens, and the way that you enter into these airdrops is through holding $BTR. As usual, the more $BTR that you hold, the more rewards you can receive.

Trading fee discount

Reduce trading fees by 20% when you select the 'pay fee with $BTR' option in the settings.

Token Burns

$BTR is burned every quarter through token buybacks that decrease the circulating supply and special burns that decrease the total supply.

Potential Future Utility

$BTR already has tons of utility which makes it a great investment, but what could be in the pipeline for the future? Bitrue always thinks outside the box and creates innovative new features and use cases for $BTR, below is a list of ideas inspired by other exchange coins.

Adding more base pairs?

Bitrue currently only has four $BTR base pairs, adding more could see an explosion in volume.

Increase $BTR trading fee discount?

This would complement the introduction of new $BTR base pairs by incentivising trading with $BTR and adding liquidity to trading pairs. Fee reduction based on how much $BTR you hold would also be a nice bonus to $BTR holders.

$BTR Credit Card?

Stake $BTR to earn a range of benefits. Use the card to make purchases and earn $BTR cashback.

Smart Chain and Decentralised Exchange?

Bitrue Smart Chain and DEX powered by $BTR could bring a lot of volume to this asset.

$BTR migration to XRPL?

This will reduce trading fees and allow $BTR to integrate with all XRPL has to offer.

Upgrade the current VIP system?

The current VIP system on Bitrue gives you benefits for holding $BTR, Bitrue could expand on this further with a tiered VIP system. The higher percentage of $BTR held in your portfolio, the higher tier and more benefits you gain access too.

Exchange coin comparisons

Binance

BNB Market Cap - $104 billion

Daily Volume - $34 billion

Crypto.com

CRO Market Cap - $17 billion

Daily Volume - $4.4 billion

Kucoin

KCS Market Cap - $2.16 billion

Daily Volume - $4.1 billion

Bitrue

BTR Market Cap - $42 million (yes MILLION)

Daily Volume - $3.2 billion

(Data accurate on 30 Nov 2021)

As you can see from the exchange coin comparison, Bitrue has a similar daily volume to Kucoin and Crypto.com whose native tokens have massively outperformed $BTR. With the amount of utility $BTR has and the continuing effort Bitrue dedicates to $BTR, this trend won't continue forever.

Why is BTR lagging other exchange coins?

Bitrue was built as an XRP exchange and XRP base pairs were the main focus until the $BTR ICO in May 2019 and later the launch of BFT in August 2020. The introduction of BFT did not go down well with $BTR holders and was seen as a cash grab by many, Bitrue heard the complaints, listened to the community, and offered to swap all BFT to $BTR in 2021.

Currently, the main difference between $BTR and other exchange coins is the number of trading pairs offered, Binance, Crypto.com, and Kucoin all offer their native token as a base pair for practically every coin. Would this be the catalyst for a $BTR run?

So why is $BTR lagging other exchange coins? Honestly, I don't know. It has the utility, it has the daily exchange volume. It has the community. It has all the ingredients to be a $5 billion+ market cap and in time it will be.

Tokenomics

Market Cap - $42 million

Circulating Supply - 131 million

Total Supply - 801 million

Total Supply Burned - 199 million

Token burn conducted every quarter

(Data accurate on 30 Nov 2021)