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Years ago the cannabis industry faced significant challenges with online payment processing and obtaining credit. BitCanna was created to address these issues by providing a dedicated payment solution |
Both the cannabis and cryptocurrency landscapes have evolved. A crypto payment solution is no longer essential for the legal cannabis industry. Our technology is in place and operational; we have developed wallets and created CosmosPay as an open gateway, establishing ourselves as a reference within the Cosmos Ecosystem. Now, our aim is to grow and expand into the non-crypto world as well.
We recognize that the tokenomics model we adopted when transitioning to the Cosmos Ecosystem is not sustainable indefinitely and represented a significant departure from our previous deflationary model. Our strategy now focuses on decentralizing nodes, curbing inflation, and enhancing the value of the currently issued tokens. The implementation of the burn module and the daily token burn are key components of this approach, as they help manage token supply and support our new economic model.
We agreed with our main investors to spin-off 4 of their validators to promote a healthier ecosystem and decentralization.
These changes will clearly impact decentralization and ensure a fairer distribution of rewards among professional validators. The 8 million unbonded tokens from validators will be locked (vested) for five years and delegated at the discretion of investors. We are also considering reducing the validator set from 100 to 75, and potentially further down to 50. These measures will promote a healthier ecosystem and enhance decentralization within BitCanna.
What new features or functionalities can users expect from BitCanna’s revamped ecosystem focused on gaming and NFTs? Users can expect a true Web3 experience with no usernames, passwords, or emails "your keys, your coins”. It will be incredible to see transactions flow seamlessly from the game to the user and vice versa, all recorded on smart contracts on our blockchain. There will be different actors or user roles, one of which will be the NFT token holder, though we still need to define these roles.
We are going to start with “BitCanna Farmer,” where you can experience the two worlds we love most: cannabis and cryptocurrencies. The future is uncertain, who knows? If we succeed, we might even develop a Web3 card game featuring our NFTs!
BitCanna Buddheads will have certain advantages over other roles; that’s the idea. Other roles we are considering include those related to marketing campaigns from our investors, users within the Cosmos ecosystem, and more.
We wanted to create a stoned Buddy character that would be part of the Cosmos ecosystem and also a fan of our major investors. Thus, the BitCanna Buddheads were born, featuring references to famous logos and crazy accessories. This RQS article provides a general overview of the relationship between Cannabis and NFTs.
we aim to add real value to the NFTs, enabling holders to do tangible things with them. In the future, we would like to use them not only within the game but also as access keys for discounts and other perks.
We can distinguish between two main components of the GROW Program: the “Developers Program” and the “Marketing Program.”
- Developers Program: This is focused on creating decentralized applications (dApps). It allows developers to receive grants and rewards for their work, encouraging innovation and development within our ecosystem.
- Marketing Program: This aims at developing marketing strategies to boost the game, NFTs, and other related initiatives. It focuses on expanding our reach and engaging the community effectively.
Users can participate by joining the respective programs based on their skills and interests, whether it be through developing dApps or contributing to marketing efforts.