💵The Bit Hotel Token
The well-known native token of the Bit Hotel eco-system: $BTH
You probably have seen the purple currency icon multiple times in your journey to explore the bit Hotel. It is time we shine some light on the workings of this in-game currency. It's called Bit hotel token or $BTH and here's how it works.
$BTH is a blockchain based so-called BEP-20 currency solely used for the Bit Hotel Ecosystem. Holders can use $BTH to purchase native in-game items on the primary market (shop), trade NFTs on the Bit Hotel NFT marketplace, participate in staking, enter into tournaments and mini-games, and participate in Bit Hotel Governance proposals.
In order to get this currency in-game you need to do a few simple things: 1. Open a wallet 2. Get a few dollars worth of so-called gas tokens (BNB) 3. Get $BTH itself. Here's an article that explains how to do those 3 things: https://medium.com/@bithotelnftgame/guide-how-to-get-started-in-bit-hotel-695bbbfe6d74
The BTH token can currently be traded on multiple decentralized and centralized exchanges as well as directly purchased with credit card here.
The Bit Hotel Token Staking BTH Bit Hotel's staking model allows users to stake $BTH to earn more $BTH. Holders can receive an APY boost by holding a Bit Hotel room in their wallet. Please visit staking.bithotel.io to stake your $BTH. And read all about how it works over here.
Burning Mechanics of BTH
A 3% transaction fee in $BTH is incurred when trading NFTs on the NFT marketplace, and when using Bit Hotel guests use the Peer 2 Peer trading functionality. Do note that 25% of this fee is burned, meaning taken out of the total supply of $BTH forever. Furthermore, a proportion of the proceeds from the NFT sales hosted on 3rd party platforms is bought back from the open market and burned too.
If you want to learn more about the usage of BTH in the Bit Hotel, head over to the respective sections linked above and dive in!
For questions you can find us on our Discord as well as Telegram!
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