JAKARTA - Palapa (PLPA) has officially become a Bittime platform token, which has been registered by the Commodity Futures Trading Supervisory Agency (CoFTRA). As a platform token, Palapa has various utilities and advantages in the Bittime ecosystem.
Palapa CEO Jimmy Siswanto Wong said in the Palapa whitepaper it had been determined in the toxics section that the total allocation of supply was as many as 10 billion PLPA tokens. Where some will be devoted to early investors participating in pre-sales.
"Later on, we will allocate 15 percent or 1.5 billion PLPA tokens specifically for early investors who participate in pre-sales at special prices. If anyone is interested in becoming an early investor, they can contact us via customer service or Palapa and Bittime social media," he said.
He explained that the PLPA token was built as a platform utility token which is an important functional module to empower the entire Bittime ecosystem. Furthermore, Jimmy stated that there are several token functions that will benefit its users.
"Some of the Palapa token functions in the Bittime ecosystem will include discounting transaction fees based on the number of PLPA owned, to free withdrawal quotas and deposits," he said.
Jimmy added that another thing that makes Palapa tokens different and has good potential is a clear and structured roadmap. According to him, this is different from other local tokens that are not supported by an established ecosystem.
One real example in the Palapa roadmap is the plan for the staking feature. Not many tokens dare to enter the staking feature because they are constrained by permits. Meanwhile, we are supported by Bittime which already has an official staking permit from CoFTRA," he said.
Bittime CEO Ryan Lymn stated that his party assessed that the Palapa token would make the company's ecosystem expand. He admits that Bittime staking permits are indeed one of the advantages compared to other crypto asset trading platforms.
"Currently we already have eight crypto assets that have staking features, including Ethereum, USDT, Cardano, Solana, Polkadot, Polygon, Tron, and XDC with an annual yield (APY) of up to 15 percent for new users," he said.
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Not only that, Ryan stated that Bittime's commitment to listing the latest tokens and hype is one of the things that benefits its users. He explained that this was done because he wanted crypto investors in Indonesia to have the same opportunity as global investors regarding access to new assets.
"Currently we have 274 crypto assets that can be transacted in Bittime. One of our advantages is the IDR trading pair or the choice of trade transactions in large rupiahs," he explained.
With Palapa tokens, Ryan believes that the public and Bittime users will benefit greatly. The reason is, there are many utilities from Palapa that are supported by the Bittime ecosystem and allow users to maximize their crypto asset investment activities.
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