BitOrbit ($BITORB) is Imminent— The Decentralized Social Network Platform Built By Velas

4 min readNov 1, 2021

BitOrbit is designed to be the go-to platform for the new digital frontier. The decentralized platform provides a state-of-the-art embedded chat feature, full-fledged social media solution, and an embedded crypto wallet to exchange digital assets and complete in-app content purchases!

IDO Date: Thursday, November 4th

Staking Eligibility Cutoff: Thursday, November 4th, 5 AM UTC

Public Sale Token Price: $0.007

Allocation Round Opens: Thursday, November 4th, 8 AM UTC

#VelasPAD FCFS Round: Thursday, November 4th, 1.00 PM UTC
#BSCPAD FCFS Round: Thursday, November 4th, 1.10 PM UTC

Pancakeswap/WagyuSwap listing:

Pancakeswap Launch: Thursday, November 4th, 3 PM UTC
WagyuSwap Launch: Thursday, November 4th, 3.20 PM UTC

Maximum Token Supply: 1,000,000,000 BITORB

Public Sale: Thursday, November 4th

#BSCPad: 17,000,000 BITORB
#VelasPad: 23,000,000 BITORB

Circulating Supply at Listing: 24,000,000 BITORB

Market Capitalization at Listing: $168,000

Public Sale Vesting Schedule: 10% at TGE, 1 month cliff, rest linear vesting for 4 months

About BitOrbit:

BitOrbit is a creation born and built by the team behind Velas — the fastest and most secure blockchain ecosystem ever made. BitOrbit is Velas’ vision for a decentralized social platform, one that is based on combining social functions while providing the highest level of security and user-privacy.

The vision is simple. Build something that changes how social services are perceived, used and monetized by leveraging the power of the blockchain to eliminate intermediaries, improve trust, transparency and efficiency. In short, social media puts the power back into the hands of its users, while maximizing their privacy and potential for monetization.

What Problems Does BitOrbit Solve?

BitOrbit is built for influencers who want to be rewarded for their creativity without compromising on anything. Not only that, but the platform was designed to be a suitable option for those who value their privacy and always wanted to eliminate the middlemen and gatekeepers that have essentially ruined traditional social media.

The way it works is simple. Content creators add their social channels and when their community follows their links they’ll be charged if they wish to access their exclusive content. BitOrbit’s embedded chat and crypto wallet features enables influencers and regular users to directly engage with their followers and provide a secure, non-custodial way to store their assets, perform exchanges, and purchase/sell content.

BitOrbit’s Unique Features

You can think of BitOrbit as a decentralized, upgraded version of Telegram that comes with the benefits of being developed on the blockchain. There are a handful of unique features that make BitOrbit, a sister project from the Velas team, one to watch:

Built-in crypto wallet: Users will be able to send cryptocurrency using the pay invoice or direct send payment methods available in the DApp. This wallet is completely non-custodial, ensuring users retain full control over their assets at all times.
Added private groups: Users and influencers can set up anonymous, private and secure group chats — allowing for truly unfiltered discussion and a more efficient way to communicate.
Built-in applications: Telegram currently features user-contributed apps, known as bots. But these are heavily restricted in their scope, being bound to pictures, text and buttons with limited interactivity and use. BitOrbit replaces this interface with a custom-built React Native Components interface, where each organization can configure the UI/UX of their bot individually — allowing for powerful DApps within BitOrbit.
Built-in Video Feed: In addition to the chat service there will also be an integrated video chat feature, allowing users to conduct live streams and P2P video calls. These may eventually form an additional revenue stream for users, who will be able to host free and premium streams.
Data synchronization and contacts list: Users will benefit from direct data sync with their contact list, allowing them to keep track of their friends, followers, and more in an intuitive fashion.

Tokenomics

Token Utility

Deflationary tokenomics: Buying/selling on the social network results in a fee on the purchase amount. This sum is burned, reducing the token supply over time. Since coins are issued all at once, there is no inflation model. This makes the BITORB token deflationary.

Governance: Stakeholders hold voting rights for new features that will make the system more attractive to new users. This might include deciding which features to implement, prioritizing roadmap items, changing the burn model, establishing a grants fund, or anything else the stakeholders reach agreement on.

Staking: Stakeholders will receive unique NFTs which are generated by the BitOrbit NFT generator.