The Biconomy Exchange Token (BIT) airdrop wasn’t just another free token giveaway. It was a carefully designed engine to pull users into the Biconomy exchange ecosystem - and it worked. In April 2022, over 2.4 billion BIT tokens were handed out in a single campaign, with real rules, real stakes, and real utility attached. This isn’t a story about hype. It’s about how a token got distributed, who got it, and what it actually does today.
How the BIT Airdrop Actually Worked
The main airdrop didn’t happen on Biconomy’s own site. It ran on MEXC Kickstarter, a platform that lets exchanges test new tokens with real user participation. The setup was simple: you had to stake MX tokens - MEXC’s native currency - to vote. You couldn’t just sign up and claim. You had to lock up your MX tokens for a few hours. Here’s how it broke down:- Voting window: April 9, 2022, from 02:00 UTC to 10:50 UTC
- Minimum stake: 10 MX
- Maximum stake: 500,000 MX
- Token reward pool: 1.6 billion BIT for voters
- Extra pool: 800 million BIT reserved for top 500 affiliates
- Reference price: $0.00001355 USDT
What BIT Token Actually Does Today
A lot of airdrop tokens vanish after the hype dies. BIT didn’t. It’s still active - and it still has clear uses on the Biconomy exchange. Here’s what holding BIT gets you right now:- Reduced trading fees: The more BIT you hold, the lower your fees. This isn’t a vague promise - it’s a sliding scale built into the exchange’s fee structure.
- VIP status access: You can use BIT to buy monthly VIP plans that cut trading fees even further. Think of it like a loyalty card, but paid in crypto.
- Voting rights: BIT holders vote on key exchange decisions. Things like new coin listings, fee changes, or platform upgrades. Your voice has weight.
- Seasonal buyback rewards: Biconomy periodically uses a portion of its revenue to buy back BIT from the market and redistribute it to holders. This isn’t theoretical - it’s happened multiple times.
- Early access: Holders get first dibs on new token listings, exclusive events, and limited-time promotions.
Where BIT Is Traded and How It’s Performing
As of February 2026, BIT trades on three exchanges: Biconomy, MEXC, and PancakeSwap. That’s a mix of centralized and decentralized platforms - a smart move to cover both traditional traders and DeFi users. The current price? Around $0.000010 USD. That’s down from the original $0.00001355 reference price during the airdrop. But here’s the thing: the price hasn’t crashed. It’s held steady for years. Daily trading volume sits at $655,203 USD - not huge, but consistent. That’s not a dying asset. That’s a quiet, stable one. CoinMarketCap lists it at #3823 by market cap. That sounds low, but remember: it’s not a big coin because it wasn’t designed to be. It was designed to serve a specific exchange’s users. It doesn’t need to be top 100. It just needs to work for the people who use it.
Why the Airdrop Was Successful
Most airdrops fail because they’re lazy. They hand out tokens with no rules, no lock-up, no real incentive. The BIT airdrop avoided all that. It required action: staking, voting, waiting. That filtered out speculators and brought in users who cared. The reward system was fair - proportional to participation. The timing was tight - only 8 hours of voting - so people didn’t drag it out. And the token had immediate value: lower fees, voting power, rewards. The 800 million BIT reserved for top 500 affiliates also helped. Those weren’t random users. They were promoters, influencers, and early adopters who helped spread the word. That created organic growth.What’s Changed Since 2022?
There’s been no major update to the BIT token’s code since mid-2023. No new features. No blockchain upgrades. No major announcements. That doesn’t mean it’s dead. It means it’s working as designed. The token doesn’t need constant innovation. It’s a utility token. It’s not trying to be Ethereum or Solana. It’s a tool for Biconomy exchange users. As long as the exchange keeps operating and trading fees keep being discounted for BIT holders, the token keeps its value. The PancakeSwap integration helped too. Even if someone never used Biconomy’s website, they could still trade BIT on a decentralized exchange. That kept liquidity alive and gave people another way to access the token.
Should You Still Hold or Buy BIT?
If you’re already trading on Biconomy, holding BIT makes sense. Even a small amount reduces your fees. If you’re not using the exchange, there’s no reason to buy it. Don’t look at BIT as an investment. Look at it as a membership. You pay in tokens, and you get discounts, voting rights, and occasional rewards. It’s not going to make you rich. But if you trade regularly, it saves you money - and that’s valuable. The lack of recent development news might worry some. But for a utility token tied to a functioning exchange, that’s not always a bad sign. It means the system is stable. No need to fix what isn’t broken.What’s Next for BIT?
The future of BIT depends entirely on Biconomy exchange. If trading volume grows, more people will hold BIT to cut fees. If the exchange adds new features - like staking, lending, or NFT trading - BIT could become even more central. For now, the best path forward is simple: use the exchange. Trade. Vote. Hold. The token rewards action. It always has.Was the BIT airdrop really free?
No, it wasn’t free in the traditional sense. You had to stake MX tokens to vote. That meant locking up your own crypto. The reward came in BIT, but the cost was your participation and your staked assets. It was a trade: your MX for a chance at BIT, with rewards based on how much you staked.
Can I still claim BIT from the 2022 airdrop?
No. The airdrop ended in April 2022. All tokens were distributed by April 9, 2022. If you didn’t participate at the time, you can’t get those original tokens. But you can still buy BIT on exchanges like Biconomy, MEXC, or PancakeSwap today.
Is BIT a good investment?
Not if you’re looking for price growth. BIT’s price has stayed flat for years. But if you trade on Biconomy exchange, holding BIT lowers your fees and gives you voting rights. That’s not speculation - that’s cost savings. It’s a utility token, not a speculative asset.
How many people hold BIT today?
Exact holder numbers aren’t publicly tracked, but the token is active on three exchanges with consistent daily volume. The fact that it still trades over $650,000 daily suggests hundreds, if not thousands, of active holders. Most likely, the majority are Biconomy exchange users who use it to reduce fees.
Can I use BIT on other exchanges besides Biconomy?
Yes. BIT trades on MEXC and PancakeSwap. You can buy, sell, or swap it on any of these three platforms. But the only place where BIT gives you fee discounts, voting rights, and buyback rewards is on the Biconomy exchange. Other exchanges just let you trade it.
Is BIT still being developed?
There haven’t been any public code updates or major announcements since mid-2023. That doesn’t mean development stopped - it might mean the token is working as intended. The focus now seems to be on maintaining the existing system rather than building new features. For a utility token tied to an exchange, that’s not unusual.
Write a comment