In June 2024, Bit2Me launched a new feature that allows users to lock their B2M for certain periods of time and thus obtain higher rewards than with the flexible option. Although the launch did not have a large advertising campaign, but only an email and an in-app notification, the impact has been considerable. Since then, More than 1.000 million B2M transactions have been blocked by users, which represents more than 20% of the total 4.950 million B2M On circulation.
This high blocking percentage demonstrates the users' confidence in the platform and the attractiveness of the rewards.
Incentives for B2M blocking
The B2M lock-up program is designed to offer attractive rewards to users who choose to lock their funds for a set period. Currently, over 50% of the locked B2M is locked for a 12-month period, reflecting a long-term commitment from users.
At the time of writing, the maximum APY (annual percentage yield) offered to users for staking their B2M is 19,49%. However, this APY is capped by a restriction that will be disabled soon, allowing for further rewards to be increased and encouraging more funds to be locked.
Impact on B2M circulation
One of the most significant effects of B2M lockup is that these funds are temporarily taken out of circulation on the market, reducing the available supply. This mechanism has the potential to influence supply and demand dynamics.
Additionally, there is still a large amount of funds in flexible pools that could be migrated to lock-up options, as Bit2Me is developing new strategies to incentivize this action.
Future promotional campaigns
Although the initial launch of the locking system was low-key, Bit2Me is planning a larger promotional campaign in the coming months. This campaign will not only highlight the advantages of B2M locking, but will also incentivize more users to participate, further increasing the locked funds and contributing to the growth of the ecosystem.
Bit2Me continues to demonstrate its commitment to innovation and growth of its native token, B2M. With a community that has already locked over 1.000 million B2M and new reward opportunities on the horizon.
For more information on how to lock your B2M and get rewards, check out our detailed article on the Bit2Me blog: B2M Evolves: Lock with Earn and Get More Rewards.
