Bit.Country

The Continuum

Driven by the community, the topography is only realized through voting. New potential slots are made available through on-chain logic driven by the number of bit countries, and other platform factors.

An available slot on the Continuum is then auctioned to the highest bidder - awarding the right to occupy the slot with their bit country.

Once a bit country is on the Continuum, the currency is listed on the DEX and the bit country starts to receive network rewards.

Bit Countries (BCs)

Create your own bit country and community. Attract more people to join using the rules and policies you can set by your will. Grow your bit country and monetize your community in multiple ways without any intermediaries.

Blocks

Content will belong to one of the blocks that make up the whole country. Each block has a topic the content within should adhere to. People can easily visit neighboring blocks while within a block, so placing related topics next to each other is favourable.

Economy

Create a currency for your bit country, and incentivize the people who contribute to your community. As your community grows, your currency will gain value on the exchange. Everyone in the community will benefit from this. Bit countries can be auctioned, rewarding all who had a stake in it.

Residents

Explore bit countries created by other people. Become a resident and join the community. Bit countries can set their residencial policies. Some welcome everyone and even reward you for joining, while others may need you to apply for residency.

Ownership & Governance

Residents can earn the country tokens to take ownership and perform their governing rights by voting.

Marketplace

Trade your NFTs with residents within the same block, bit country, or entire network.

Smart Asset — Asset with Smart Contract

While residents can build their assets on the sections that they own, there will be Smart Contract enabled Assets that can transact with residents or visitors. There will be boundless possibilities of Smart Assets that residents can build for their communities.

History

Bit Country piloted the concept with 140 active users from a tech education business called Industry Connect. Students joined the "MVP tech community", a bit country created and conducted incentivized activities such as creating useful posts & making meaningful comments, where they earned country-specific tokens (e.g., MVPC). With the MVPC tokens they possess, they start to take ownership of the community and will be able to perform voting, decision making, and take part in other aspects of ownership.

Bit Country observed it is a great way to let students/users get more involved in our community by giving them ownership through their contributions. 

The community is made of people who have varying levels of tech-savviness and blockchain understanding. With our current proof of concept, Bit Country successfully onboarded more than 100 classical internet users. Proving our thesis of providing a pathway for classic internet users to onboard to the decentralized web is viable.

To further accelerate the engagement, Bit Country also started the development of a 3D voxel world so that students/users could do more things and interact more with each other in that dimension. For instance, walk & chat, attend events in the 3D world, or video meetings. Early in the process, Bit Country see it has garnered interest from the community and our partners - where Bit Country are working on hosting a virtual job fair for our recruitment alliance partner.

Bit Country Tewai Chain

Governance: A decentralised network governed by BCG Holders, the stakeholders shape the future of our network.

Powered by Polkadot: Our network is secured under Polkadot's shared security model, ensuring high resilience and forkless upgradability.

Cross-chain NFT: Cross-chain interoperability enables the transfer of any type of NFT asset or token.

Customizable Gas Fee: Operating on Polkadot insfrastructure allows our network to maximize value-exchange while protecting resources.

Staking: Our staking protocol designed to incentivize good community behavior whilst discouraging the bad behavior. This ensures the network stays secured.

EVM Enabled: They enable WASM and Ethereum-compatible smart contract for developers to build applications to run on our network.

Land Economics

Supply

- Total Land Blocks

• 100,000 land blocks
• Future supply or inflation will be determined by the governance of the general council

- Land Block Allocation

• Private: 10 %
• Ecosystem Growth: 10%
• Public NFT sales: 7%
• Treasury: 73% (Release periodically through auctions and grants)

Subdividing

A metaverse map is made up by land blocks. A land block can have a maximum of 100 subdivided land units. A group of land units forms an estate.

NFT - Non-Fungible Token

NFT represents something that is unique in Bit.Country, here are the following use cases of NFT

Minting

Users can mint unique collections and items such as digital arts. Because an NFT allows joint ownership, owners of an NFT can request supporters for the asset. The supporters concept will reflect the popularity of it.

Existing entities on Bit.Country can be minted as an NFT for trading and ownership transfer purposes. For instance, the owner of a metaverse can create an NFT that acts as the title of the entire metaverse, the owner of the NFT can then claim the ownership.

Marketing

NFTs can be displayed inside the virtual world on pre-defined slots. Users can utilize land features to promote their digital assets. Here are some example promotion methods, 

WIP Screenshot

• Display NFT on advertisable slots. Airdrop tokens near the NFT on display.
• Attach NFT to smart assets, which have attractive activities.

Trading

NFTs can be traded on the marketplace, which is in fact a decentralized auction platform.  All transactions and escrow services are implemented on-chain, thus, trades are trustless.

NFT Trading Gas Fees

The NFT community is facing a problem with high gas fees on some of the most popular blockchains i.e. Ethereum. 

The ultimate solution for this problem is to create an NFT friendly blockchain that supports different mechanisms for charging gas fees.

Because Bit.Country Chain is a substrate-based chain, dynamic gas fees are programmable. Here are some of the considerations,

Consideration 1

NFT trading gas fees can be waived by utilizing membership features on the Bit.Country platform.

Consideration 2

The gas fee can be adjusted by the number of NFT supporters and the trader’s reputation.

Token Allocation

Token Circulation