Dubai, UAE, Bitlafa Digital UG the digital asset management firm has confirmed the launch of its long-awaited BITL utility token via an Initial Coin Offering (ICO).
The token, BITL, will give financial institutions access to Bitlafa Digital UGs state-of-the-art AI-driven proprietary trading algorithms via masternodes.
The first pre-ICO (VIP) token issue will commence on November 1st, 2022, with a limited number of tokens exclusively available to pre-subscribed Bitlafa Digital clients & institutions.
Additional token issue dates have not been confirmed but are anticipated for December & January 2023.
A representative of Bitlafa Digital UG confirmed that “there has been significant interest in the BITL token from global financial institutions,” and they expect the tokens to be fifteen times oversubscribed by the launch date set for Q1 2023.
The BITL token is being developed on the Ethereum ERC20 blockchain, ensuring seamless smart contract-to-node integration.
BITL Proprietary Algorithm Trading Nodes
Bitlafa Digital UG will make 500 revolutionary trading nodes available via an Initial Coin Offering (ICO) under the ticker symbol BITL. The AI-driven proprietary algorithms were developed through 1000s of hours of data input by the Bitlafa Digital UG team.
BITL nodes dramatically enhance operational ease and execution efficiency and facilitate simultaneous trading on multiple exchanges through a single node developed utilizing enhanced AI frameworks.
The BITL trading algorithms will be distributed via masternodes running on the ERC20 blockchain; the nodes will be licensed and accessible on the host server via a smart contract. To have full access to the software, institutions must purchase a masternode of 500,000 BITL and lock their tokens for a minimum of 24 months.
How do BITL token holders benefit?
Holders of BITL tokens can benefit in numerous ways.
1. By owning a masternode, you can lease this to a trading institution and charge a monthly fee.
2. Transaction fees, users of the nodes will pay a small transaction fee recorded on a per-trade basis; the transaction fees will be set at $0.05 per trade; Bitlafa Digital UG anticipates trading volumes to be at 6-10 million per day by the end of Q1 2023.
Bitlafa Digital UG is a digital asset management firm located in Cyprus and Dubai, further expansion into Asia is now in progress.
‘This has been in the works for some time; it’s the culmination of everything we have learned since our journey began,’ said Brian Hodges, the group COO. ‘By allowing a wider audience with lower barriers to entry coupled with bringing institutional capital, we expect a bumper 2023’.
Institutional interest in the digital asset markets has boomed over the last five years. In 2018 the total combined AUM of digital asset funds was 5 billion; this has climbed to over 50 Billion by 2022.
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