We are ready to release the Mainnet 1.0 based on cosmos-sdk v0.39

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The next testnet (bitsong-testnet-4) will stress-test it with our validators for a period of 21days

With the Mainnet 1.0 we will enable:

  • Bank transfer
  • Governance
  • Staking

In Q2/Q3 2021 we will plan to upgrade the Mainnet to 2.0, with the Mainnet 2.0 we will enable

  • Smart Media Contract (smart media contract will be possible thanks to MCO/CEL, ODRL languages)
  • IBC
  • NFT
  • FTO (Fan Token Offering)

Road to Mainnet 1.0

  • Launch BitSong Testnet 4 with cosmos-sdk v0.39.0
  • Renew our website with complete and useful information
  • Publish the updated Whitepaper where we describe the enteire project
  • Adjust ERC20 Supply
  • Distribuite the remaining tokens
  • Start Swap from ERC20 to Native
  • Genesis generation
  • Collect gentxs for mainnet
  • Pre-Launch public cerimony
  • Mainnet 1.0 Launch

ERC20 and Liquidity Pool

In the meantime we still have the ERC20 token, users who want to partecipate to the staking and governance can swap the token from ERC20 to native token before the launch.

After Mainnet launch (we plan a period of 100days from now, just the time to increase the pool on uniswap and get listed on coingecko/cmc), users can continue to swap the token in a decentralized or centralized way

Until to Mainnet 2.0 we plan to keep our token only on dex

  • Uniswap for the ERC20
  • OKChain for the native token

We hope (thanks to Uniswap/Balancer) to increment the liquidity pool, and give the possibility to the others validators to buy token before the mainnet launch

Currently token holders could stake/sell their tokens in one of those liquity pool:

Uniswap BTSG/ETH Swap Add Liquidty Pool Info

Token Distribution

As we described in a previous post, the Total Supply is 116.420.850btsg

  • Crowdfunding (50%) — 58.210.425
  • Reserve Fund (20%) — 23.284.170
  • Team (15%) — 17,463,128
  • Marketing&Partnerships (7%) — 8.149.460
  • Advisor (5%) — 5.821.043
  • Bounty Contest (2%) — 2,328.417
  • Airdrop Contest (1%) — 1,164,209

ERC20 Supply will be adjusted trough the original smart contract

Also we decided to apply a lock to (for a period that we still discuss, maybe 2/3 or 5 years):

  • 60% of Reserve funds (13.970.502btsg)
  • 60% Team funds (10.477.876btsg)
  • Move the “Marketing & Partnerships” fund to the “Community pool” (is a pool on our blockchain, where the governance must open and vote a proposal before to unlock a part of the fund) (8.149.460btsg)

Users that took part in our ICO and still waiting for the final distribution, must complete KYC before the mainnet launch.

About BitSong

BitSong is an open source blockchain born in December 2017. Our mission is to simplify the music bureaucracy as much as possible, make the artists independent and facilitate the management of royalties.

Based on Cosmos-SDK/Tendermint, BitSong is an interoperable and cross-chain blockchain.

A user can publish (independently and unchangeably) his own music record. A user can also tokenize his track (NFTs) and sell his shares to new users. Each track containing a set of Right Holders, when a track gets a new reward, it is divided and automatically sent to the Right Holders.

Through the BitSong api, any user can build their own decentralized music player and/or manage their royalties.

Website | Discord | Telegram | Github

Decentralized Music Streaming Platform (https://bitsong.io)

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