BitSong Launches Big Bang Upgrade, Joining the IBC-enabled Blockchains in Cosmos!
One of the most anticipated moments in the history of BitSong is finally here! We are delighted to announce the scope and rollout plan of the all-new BitSong mainnet, introducing Fan Tokens, a Liquidity Module, taking a seat among the IBC-Enabled Blockchains in Cosmos and much, much more.
The launch is the biggest milestone in the project’s journey since we moved from Ethereum to Cosmos so far, set to change the face of BitSong as we position ourselves to blaze a trail for Web 3.0 in the music industry.
We have chosen to name this upgrade “Big Bang” as it will involve a series of eight transformational launches, corresponding to the eight phases of the Big Bang. The phases are:
- Cosmos v.0.42 Upgrade(The Planck Epoch)
- IBC Upgrade (Grand Unification Transition)
- Fan Token Module (Electroweak phase Transition)
- Liquidity Module (Particle Era)
- NFT Module (Nucleosynthesis Era)
- Cassini Bridge Ethereum/BitSong Mainnet Launch (Era of Nuclei)
- Upgrade Testnet Launch (Era of Atoms)
- BitSong-2 goes Live (Era of Galaxies)
Out of the eight phases listed, four will involve new modules applied to the BitSong blockchain, IBC, Fan Tokens, Liquidity Module, and the NFT Module. In future releases, we will explore the functionality of each one in-depth. The rollout will begin most likely in September 2021.
A Pivotal Moment for BitSong
This mainnet upgrade represents the culmination of over two years of work on the part of the team. It will mark the pivotal moment at which the BitSong vision to become a blockchain ecosystem for the music industry comes to life.
With the Fan Token and NFT modules enabled, artists can immediately begin to capture some of the value in digital assets and create their own economy in BitSong. They can mint and list their Fan Tokens, create unique and exclusive digital merchandise, finance studio albums or events, and explore new avenues of creativity. What’s more, they can do so counting on the speed, transparency, and immutability of the blockchain.
Underpinning all this is the infrastructure upgrades. Musicians can rely on a continuous flow of BTSG liquidity thanks to the Liquidity Module, meaning they can easily transact in BTSG for the sale of Fan Tokens or to channel invested funds into music projects, for example.
Similarly, the new features will open up BitSong to fans and investors. Fans can start supporting their favorite acts and finding new ways to engage with them via Fan Tokens and NFTs. Speculative investors can finance projects or engage in trading assets on BitSong on the integrated DEX.
Anyone owning BTSG for any purpose will have a full set of tools available to allow them to manage their funds as they wish. They can take advantage of the Cassini Bridge to move their tokens from BitSong to Ethereum, and vice-versa. They can also use GravityDEX and Osmosis to obtain liquidity in other cryptocurrencies that are part of the Cosmos ecosystem, including ATOM.
We can also confirm that there will be no changes to Validator staking rewards, nor any changes to the Validator set or to the wallets managed by the BitSong team.
The entire BitSong team is thrilled to enter this next phase of the project and to begin to welcome artists, record labels, fans, investors, and everyone in the music industry to our ecosystem.
The Big Bang is officially underway! Stay tuned for more updates to come!