| General information | |
|---|---|
| Global rank: | 237 |
| Name: |
Biconomy |
| Symbol: | BICO |
| Current coin price (PHP): | 13.55 ₱ |
| Last hour: | arrow_upward1.31 % |
| Last 24 hours: | arrow_downward-5.31 % |
| Last 7 days: | 4.02 %trending_up |
| Capitalisation (PHP): | 11 528 546 289.94 ₱ |
| Volume 24h (PHP): | 401 737 655.09 ₱ |
| Available supply: | 850 607 020.00 BICO |
| Total coin supply: | -1 BICO |
| Start date: | 2021-10-04 |
Biconomy/Philippine Peso (BICO/PHP) price chart
Biconomy/Philippine Peso (BICO/PHP) capitalisation and volume charts
Biconomy (BICO) is a multichain relayer protocol designed to enhance user onboarding and transaction experiences on decentralized applications (DApps). The project aims to make web3 products as user-friendly and intuitive as web2 products by addressing several bottlenecks in the web3 space. Biconomy offers infrastructure solutions such as enabling protocols to onboard users without gas fees, allowing users to pay gas in their preferred ERC-20 tokens, simplifying the complexities of blockchain networks, and ensuring faster transaction confirmations. The protocol focuses on transaction management and gas optimization, resulting in potential gas cost reductions of up to 40%.
Biconomy was created by a team of co-founders, including Ahmed Al-Balaghi as the CEO, Aniket Jindal as the COO, and Sachin Tomar as the CTO. Together, they have developed the protocol to improve the user experience and efficiency of transactions on decentralized applications.
Biconomy introduces BICO tokens as protocol incentives for stakers who take on the risk of securing the protocol. These stakers receive BICO tokens in exchange for their participation. Beyond this, BICO is primarily utilized within the Biconomy ecosystem to facilitate gas-efficient and non-custodial relayer services. The tokens play a vital role in incentivizing participation and securing the network, allowing Biconomy to offer scalable transaction management solutions to users and DApps.