BitSong Celebrates One Year Mainnet Anniversary!
Dear community,
We would like to invite you to join us as we celebrate BitSong’s first birthday! Although our project was conceived in 2017, March 26 marks one year since the BitSong mainnet genesis. Over five million blocks later, we wanted to mark the occasion with a look back at our journey over the last twelve months.
Within two weeks of a smooth mainnet launch, the BitSong network had reached 240,000 blocks produced by an active network of 57 validators. We had also integrated the Keplr wallet as the main authentication method for the BitSong wallet, which was an early step in BitSong’s journey to becoming integrated into the Cosmos ecosystem.
Over the following weeks, the validator network would increase to its capacity of 64, the community underwent a mass migration of tokens from Ethereum to the new BitSong mainnet, and the bonded ratio of $BTSG began to increase to just under 30%.
By the summer, BitSong was growing fast — not just in terms of mainnet development, but the team had also grown over 300%. In early August, Angelo Recca announced that he had decided to step back from his position as CEO of BitSong to allow him to focus 100% of his attention on BitSong’s development as Chief Technology Officer. Angelo also announced that he had been working with Iulian Anghelin, BitSong’s Chief Operations Officer, to hire a new CEO for BitSong.
Within a few days, they confirmed the appointment of Andrea Della Balda, an experienced executive in the telecommunications sector with a track record of founding successful companies, including the first national network for internet, communications, and mobile devices in San Marino. Andrea had already become aware of BitSong as an investment opportunity, and in his first weeks with the project, he spoke of his belief that BitSong is set to become bigger than Spotify.
Andrea’s appointment was not a moment too soon, as, within the next few weeks, we announced the “Big Bang” — a mainnet upgrade that enabled BitSong to join the IBC network and become interoperable with other IBC-enabled blockchains in the Cosmos ecosystem. This critical upgrade laid the foundation for Fan Tokens and NFTs on BitSong, while also providing the infrastructure for liquidity.
After Big Bang went live in late October, launching the bitsong-2b network and allowing us to open $BTSG pools on Osmosis, introducing deeper liquidity to the token. It was only a few weeks before we announced the first liquidity mining incentive programs, which we later confirmed would be extended for a full year to the end of 2022! Liquidity incentives are still running, so it’s not too late to miss out, and our handy guide can help you get started.
Over the last few months, progress on the roadmap has been moving even more rapidly! On December 31, we successfully completed the $BTSG airdrop to the Cosmos community and further increased the percentage of bonded $BTSG to around 35%.
In January, we announced a collaboration with #IBCGang member Starname, a decentralized asset naming service that makes it super easy to send and receive $BTSG using a simple, personalized Starname. We also announced the launch of the BitSong Multichain Wallet, supporting operations across the BitSong, Cosmos, Osmosis, Juno, Chihuahua, and LikeCoin blockchains.
In February, the long-awaited $BTSG bridge from Ethereum to BitSong was launched, allowing users to migrate their tokens directly from the Ethereum blockchain to the BitSong mainnet. For the first time, ERC-20 token holders had an easy way to migrate and begin enjoying the benefits of staking and liquidity pools using mainnet $BTSG tokens.
Saving the best until last, in early March, we made the biggest announcement yet — Fan Tokens on BitSong. Sinfonia, BitSong’s new protocol for minting and trading Fan Tokens, is due to go live imminently. With generous airdrop rewards for the whole community, BitSong is set to become the premier destination for fan tokens.
At the time of writing, the BitSong blockchain is just about to reach 5.37 million blocks, with an active pool of 80 validators.
So in one year, BitSong has come so far, and yet there’s so much still to do! Sinfonia and Fan Tokens are the next big launch, but there are plenty of opportunities to use our purpose-built blockchain to deliver a better experience for artists and their fans. We’re proud of all we’ve achieved and excited for what’s still to come. And we would like to thank you, our loyal community members, for being an ongoing part of our adventures in blockchain and music!
👇 Stay in touch
Website | FanToken | Telegram | Github | Mainnet | $BTSG on Osmosis | Discord
