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logoBiconomy (BICO)

A Plug-and-Play Relayer Infrastructure to Developers.
  • Biconomy aims to reduce the entry barrier for developers building on Web 3 by providing a plug-and-play relayer infrastructure to developers. The current products include a meta-transaction middleware through which dApp users can delegate gas fee payment to the service provider and a cross-chain bridge.
  • BICO is the native token of the project. The current use cases for BICO include:
    • Network fee: In order for users to add any information on the chain, they will need to pay a transaction fee in BICO.
    • Staking: Relayers need to stake BICO to become a relayer and they get rewards for relaying the transactions correctly. Users can delegate their tokens to relayers as well.
    • Governance: BICO holders can propose and vote for decisions such as changes to the network’s code, adding additional services, or decisions regarding the disbursement of its treasury funds.
  • The project consists of the following major components working in conjunction:
    • Relayer Network: Maintained by node operators that perform two main roles: validators and executors. The validator listens to relevant transactions on other chains and records them to the Biconomy chain. The executors see these transactions and act on them.
    • Hyphen: A cost-efficient cross-chain bridge, which offers instantaneous value transfers and contract calls between various EVM (or non-EVM) chains and L2s.
    • Gasless: Plug-and-play APIs and SDKs used to build dApps with superior user experience by leveraging meta-transactions where dApps subsidize gas fees to offer a gasless experience to end-users.
    • Forward: Offers flexible solutions to users for paying gas. Be it on Ethereum or other L2s, users can pay gas in a range of ERC20 tokens instead of the native token of that chain.
  • As at December 9th 2021, the maximum and total token supply of BICO are 1,000,000,000. The current circulating supply is 65,374,608 (~6.54% of the total token supply).
  • Learn more about the token distribution of BICO here.