{"id":4473,"date":"2023-09-30T14:16:24","date_gmt":"2023-09-30T14:16:24","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=4473"},"modified":"2024-03-27T11:42:18","modified_gmt":"2024-03-27T11:42:18","slug":"what-is-biconomy-bico","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/what-is-biconomy-bico\/","title":{"rendered":"What is Biconomy (BICO)?"},"content":{"rendered":"<p style=\"text-align: left;\"><strong>Biconomy<\/strong> is a transfer protocol that manages <strong>transactions<\/strong>, <strong>gas payments<\/strong>, and <strong>bridges<\/strong> for also Web 3.0 applications through a multi-chain, Plug-and-Play method.<\/p>\n<p style=\"text-align: left;\">Users on the platform can benefit from <strong>smart contract<\/strong> wallets and also create private transactions on a <strong>single platform<\/strong>.<\/p>\n<p style=\"text-align: left;\"><img loading=\"lazy\" decoding=\"async\" class=\"hoverZoomLink aligncenter wp-image-102995 size-large\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2023\/09\/Ekran-Resmi-2023-09-29-13.30.04-1024x513.png\" alt=\"What is Biconomy (BICO)?\" width=\"1020\" height=\"511\" \/><\/p>\n<p style=\"text-align: left;\">For developers, <strong>Biconomy<\/strong> offers powerful and user-friendly <strong>Service APIs<\/strong> that allow the creation of decentralized applications (DApp) with a custom transaction flow.<\/p>\n<p style=\"text-align: left;\"><strong>What is Biconomy (BICO) Token?<\/strong><\/p>\n<p style=\"text-align: left;\"><strong>BICO <a href=\"https:\/\/coinengineer.net\/blog\/hsbc-makes-history-with-first-retail-blockchain-based-gold-token-in-hong-kong\/\">Token<\/a>,<\/strong> is a token used for general business and governance purposes on the Biconomy protocol&#8217;s multi-chain transfer infrastructure.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/what-is-biconomy-bico\/#What_are_the_Uses_of_BICO_Token\" title=\"What are the Uses of BICO Token?\">What are the Uses of BICO Token?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/what-is-biconomy-bico\/#Who_are_the_Founders_of_Biconomy_Protocol\" title=\"Who are the Founders of Biconomy Protocol?\">Who are the Founders of Biconomy Protocol?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/what-is-biconomy-bico\/#What_Does_Biconomy_Protocol_Offer\" title=\"What Does Biconomy Protocol Offer?\">What Does Biconomy Protocol Offer?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/coinengineer.net\/blog\/what-is-biconomy-bico\/#Tokenomics\" title=\"Tokenomics\">Tokenomics<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/coinengineer.net\/blog\/what-is-biconomy-bico\/#Token_Distrubition\" title=\"Token Distrubition\">Token Distrubition<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/coinengineer.net\/blog\/what-is-biconomy-bico\/#Who_are_the_supporters_of_the_Biconomy_Protocol\" title=\"Who are the supporters of the Biconomy Protocol?\">Who are the supporters of the Biconomy Protocol?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/coinengineer.net\/blog\/what-is-biconomy-bico\/#Where_Can_BICO_Tokens_Be_Purchased\" title=\"Where Can BICO Tokens Be Purchased?\">Where Can BICO Tokens Be Purchased?<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"What_are_the_Uses_of_BICO_Token\"><\/span>What are the Uses of BICO Token?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: left;\"><strong>1. Network Fees:<\/strong><\/p>\n<p style=\"text-align: left;\"><strong>Node Operators<\/strong> pay a transaction fee with BICO$ to add any information to the chain and earn <strong>BICO<\/strong> based on the work they do on the network.<\/p>\n<p style=\"text-align: left;\"><strong>2. Incentives for Stakers:<\/strong><\/p>\n<p style=\"text-align: left;\"><strong>Liquidity Providers<\/strong>, <strong>Node Operators<\/strong>, and additionally staking users earn <strong>BICO<\/strong> in exchange for the tokens they provide or the work they do.<\/p>\n<p style=\"text-align: left;\"><strong>3. Governance<\/strong><\/p>\n<p style=\"text-align: left;\">Persons holding <strong>BICO<\/strong>$ tokens can <strong>vote<\/strong> on decisions affecting the <strong>Biconomy Protocol<\/strong> and the general network and can also propose different decisions.<\/p>\n<h2 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"Who_are_the_Founders_of_Biconomy_Protocol\"><\/span>Who are the Founders of Biconomy Protocol?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: left;\">Among Biconomy&#8217;s founders are <strong>Ahmed Al-Balaghi<\/strong>, <strong>Sachin Tomar<\/strong>, and <strong>Aniket Jindal<\/strong>.<\/p>\n<p style=\"text-align: left;\"><strong>Ahmed Al-Balaghi<\/strong> is a graduate of Queen Mary University and an international Blockchain entrepreneur. He previously worked in a significant Chinese <strong>Blockchain company<\/strong> called <strong>Viewfin<\/strong>.<\/p>\n<p style=\"text-align: left;\">Of the other two co-founders, <strong>Sachin Tomar<\/strong> is an Indian Blockchain entrepreneur with a software engineering background, and also <strong>Aniket Jindal<\/strong> has worked on <strong>Blockchain<\/strong> projects in the <strong>United Arab Emirates<\/strong>.<\/p>\n<p style=\"text-align: left;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-102996 size-large\" src=\"https:\/\/coinmuhendisi.com\/blog\/wp-content\/uploads\/2023\/09\/Ekran-Resmi-2023-09-29-13.34.40-1024x544.png\" alt=\"What is Biconomy (BICO)?\" width=\"1020\" height=\"542\" \/><\/p>\n<p style=\"text-align: left;\"><strong>Founders Sachin Tomar, Aniket Jindal, and Ahmed Al-Balaghi. (From left to right)<\/strong><\/p>\n<h2 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"What_Does_Biconomy_Protocol_Offer\"><\/span>What Does Biconomy Protocol Offer?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: left;\"><strong>Plug-and-Play SDK and APIs:<\/strong> Offers Service APIs that can be used in the creation of decentralized applications.<\/p>\n<p style=\"text-align: left;\"><strong>Multi-Cryptocurrency Support:<\/strong> While applications on Ethereum offer only an <strong>ETH<\/strong> payment option, <strong>Biconomy<\/strong> offers support for <strong>multiple tokens<\/strong>.<\/p>\n<p style=\"text-align: left;\"><strong>Gas Fees:<\/strong> The Biconomy Protocol offers users an experience without the need for gas fees, also thanks to its unique model.<\/p>\n<p style=\"text-align: left;\"><strong>Enhanced User Experience:<\/strong> With Biconomy, developers can provide their users with an improved experience in the decentralized world.<\/p>\n<p style=\"text-align: left;\"><strong>Decentralized Applications:<\/strong> Developers can seamlessly integrate their decentralized applications with Biconomy&#8217;s infrastructure to enhance scalability and usability.<\/p>\n<p style=\"text-align: left;\"><strong>Secure Transactions:<\/strong> The Biconomy protocol ensures that all transactions are secure, transparent, and also tamper-proof, providing peace of mind to both developers and end-users.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tokenomics\"><\/span>Tokenomics<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>BICO has a total and maximum supply of 1 billion, and as of the time of writing, 66% of the total supply, in other words, 657,617,262 BICO tokens, are in circulation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Token_Distrubition\"><\/span>Token Distrubition<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>%38.62: Community<\/p>\n<p>%22: Team and Advisors<\/p>\n<p>%23.38: Token Sales<\/p>\n<p>%10: Treasury<\/p>\n<p>%6: Early Supporters<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-4507 aligncenter\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/09\/biconomy-2-300x189.png\" alt=\"biconomy \" width=\"721\" height=\"454\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/09\/biconomy-2-300x189.png 300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/09\/biconomy-2-768x483.png 768w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/09\/biconomy-2.png 1024w\" sizes=\"auto, (max-width: 721px) 100vw, 721px\" \/><\/p>\n<h2 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"Who_are_the_supporters_of_the_Biconomy_Protocol\"><\/span>Who are the supporters of the Biconomy Protocol?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Additionally Biconomy has raised a total of 10.5 million dollars in investment from 26 investment firms, including major investment companies like Binance, Coinbase Ventures, and Mechanism Capital, across two funding rounds.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-4509 aligncenter\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/09\/bico-300x123.png\" alt=\"bico\" width=\"866\" height=\"355\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/09\/bico-300x123.png 300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/09\/bico-768x316.png 768w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/09\/bico.png 1024w\" sizes=\"auto, (max-width: 866px) 100vw, 866px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Where_Can_BICO_Tokens_Be_Purchased\"><\/span>Where Can BICO Tokens Be Purchased?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>You can easily purchase BICO, the native token of the Biconomy platform, from major exchanges such as\u00a0<strong><a href=\"https:\/\/accounts.binance.com\/en\/register?ref=B4DLQJE0\">Binance<\/a><\/strong>,\u00a0<a href=\"https:\/\/www.gate.io\/signup\/3499516\"><strong>Gate.io<\/strong><\/a>,\u00a0<a href=\"https:\/\/www.bitget.com\/tr\/expressly?languageType=8&amp;channelCode=CoinMuhendisi&amp;vipCode=2bui\"><strong>Bitget<\/strong><\/a>,\u00a0<a href=\"https:\/\/www.okx.com\/tr\/join\/INDIRIM\"><strong>OKX<\/strong><\/a>,\u00a0<a href=\"https:\/\/www.bybit.com\/tr-TR\/invite\/?ref=QWQ0Q0\"><strong>Bybit<\/strong>\u00a0<\/a>ve\u00a0<a href=\"https:\/\/www.huobi.com\/tr-tr\/v\/register\/double-invite\/?inviter_id=11343840&amp;invite_code=mbwg2223\"><strong>HTX(Huobi) <\/strong><\/a><\/p>\n<hr \/>\n<hr \/>\n<p data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>\u00a0 ,<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Biconomy is a transfer protocol that manages transactions, gas payments, and bridges for also Web 3.0 applications through a multi-chain, Plug-and-Play method. Users on the platform can benefit from smart contract wallets and also create private transactions on a single platform. For developers, Biconomy offers powerful and user-friendly Service APIs that allow the creation of<\/p>\n","protected":false},"author":2,"featured_media":4499,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,5],"tags":[1614,1687,1688,1690,346,1691,1689,470,1620],"class_list":["post-4473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-projects","category-project-review","tag-biconomy","tag-biconomy-coin","tag-biconomy-token","tag-bridges","tag-multi-chain","tag-plug-and-play","tag-web-3-apps","tag-web-3-0","tag-what-is-biconomy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Biconomy (BICO)? - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Biconomy is a transfer protocol that manages transactions, and bridges for Web3 apps through a multi-chain, Plug-and-Play method.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/what-is-biconomy-bico\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is Biconomy (BICO)? 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