- BITBOX introduces promotional events to popularize LINK reward platform
- ‘LINK Info’ section added on BITBOX website to provide latest news about LINE’s blockchain business
TOKYO – July 4, 2019 – LINE Corporation today launched the BITBOX Rewards Festival, a promotional event that rewards user participation in LINE’s digital asset exchange BITBOX with the crypto asset LINK (LN).
Users can get LINK rewards through participating in a referral program or by paying trading fees with LINK. All BITBOX users will get a referral code, which can be used to invite friends to join BITBOX. If the invited person joins using the referral code and makes a trade within 30 days, both the recommender and the new joiner will get LINK rewards. Also, users who pay trading fees with LINK when trading in (LN/BTC/ETH/BCH/XRP/LTC) trading pairs will be rewarded with LINK, based on BITBOX’s point-ranking system.
With that point-ranking system, BITBOX will use LINK to reward the people who are highly ranked each day. Users can earn up to 50% more points based on the trading amounts made by new referrals and based on payments that have trading fees paid with LINK. The percentage of points for the ranking system gets higher with the greater the number of people joining through referral codes, and the more referrals trading adds up to a better ranking. The total reward amount and total number of people rewarded will be updated daily on the promotion page.
Through these reward events, BITBOX, as the key digital exchange in LINE’s token economy, seeks to become another LINK reward platform, rewarding users based on their participation in trading. Details and updates on these events can be found on the BITBOX website (www.bitbox.me/notice).
■ LINK Overview
- Definition: Crypto asset (or digital token) for use within the LINE ecosystem
- Official website: network
- Name: LINK (or “LINK Point” in Japan)
- Issuer: LINE Tech Plus (based in Singapore)
- Total amount issued: 1 billion (user rewards 800 million; LINE Tech Plus reserves 200 million), to be gradually issued based on how the ecosystem develops
- Issuing method: Issued as a reward for service contributors
- Units: The basic unit is the LINK, and the smallest unit is the cony (1,000,000 cony = 1 LINK)
- Types of LINK usage by service category:
- Content: Payment for music, videos, and webtoons
- Commerce: Payment for products/services, discount benefits, and payback
- Social: In-app payment systems and wire transfers between individuals
- Gaming: In-game trading and character improvements
- Exchange: Payment of commissions, fee discounts and cryptocurrency trading at BITBOX
■ BITBOX Overview
- Service type: Cryptocurrency-to-cryptocurrency exchange (no fiat currency trading available)
- Opened: July 16, 2018
- Available regions: Global (except Japan and the United States)
- Available languages: 15 (including English, Korean, and Chinese)
- Official channels:
- Official website: bitbox.me
- LINE Official Account: @bitbox
- Telegram: @bitbox_official, @bitboxkorean, @bitboxchinese
- Twitter: @bitbox_official
- Facebook Page: fb.com/bitbox.official/
About LINE Corporation
Based in Japan, LINE Corporation (NYSE:LN/TSE:3938) is dedicated to the mission of “Closing the Distance,” bringing together information, services and people. The LINE messaging app launched in June 2011 and since then has grown into a diverse, global ecosystem that includes AI technology, fintech and more.
Based in Singapore, BITBOX (bitbox.me) is a digital asset exchange operated by LINE Tech Plus, under both LVC Corporation and LINE Corporation. Launched on July 16, 2018, BITBOX focuses on providing a user-centered experience through first-rate customer support, along with the highest levels of security and transparency.
LINE Global PR: email@example.com