Why We Keep 0.10%: The Bitbank Whitepaper
Today we published the first draft of the Bitbank whitepaper. It is short on adjectives and long on mechanics, because the mechanics are the point. This post is the summary.
The fee is 0.10%, and it is in the contract
Every token launched on Bitbank trades in a Uniswap V3 pool with a 1% fee. The locker contract that holds the liquidity forever splits collected fees 10% to Bitbank and 90% to the creator, or to a splitter of up to twenty collaborator wallets. That ratio is a constant in the bytecode. We cannot raise it, and neither can anyone who might one day hold our keys.
Most launch venues take most of the 1%. We think creators will route launches to the venue that leaves the fee with them, and that 0.10% of a large volume beats 1% of a small one. Serving a trade costs a few RPC calls, so the model works at almost any scale.
One transaction, native ETH, honest quotes
Launching is free for verified creators: no platform charge, and Bitbank covers the network fee within a weekly cap. Buying a launch token is one transaction paid in ETH; the router wraps it. Selling is one approval, ever, then one transaction that pays out ETH. Quotes expire after 60 seconds and the expiry is enforced by the router, not just by our UI. Wallets holding only USDG can pay their network fee in USDG through the gas station: the user signs the exact amounts, a relayer submits, and the contract settles both sides atomically or not at all.
Forecasting stays the core
Bitbank started as a forecasting site and the accuracy page still shows every model's walk-forward results, including the losing folds. The launchpad and wallet exist because the people who read forecasts also trade, and the market data from indexing 530,000 launches on Robinhood Chain feeds both sides.
What the BITBANK token does
BITBANK was launched publicly through Pons on 5 September; Bitbank ran no sale and the token has no owner, tax or mint. Its job is simple: holding it or paying with it makes Bitbank cheaper. Holders pay half the interface fee when trading tokens launched elsewhere; paying for forecasting API credits in BITBANK costs 20% less. You can keep a BITBANK balance in your Bitbank account, top it up with USDG (we buy on the canonical pool under the hood), and spend it per API call with no gas.
Equally important is what it does not do. No dividends, no revenue share, no buybacks or burns, no governance. Platform fees are revenue that runs the business. We would rather say that plainly than dress a discount token up as something else.
Where this is going
Next is trading every existing Pons token on bitbank.nz through a Uniswap V4 adapter, since they already live on this chain and need no bridge. Then routing across venues for best execution, then batch-auction settlement with maker rebates paid in BITBANK, then deposits over the canonical Arbitrum bridge. The destination is a high-volume, low-fee exchange with forecasting built in. BITBANK stays the thing that makes it cheaper.
The whitepaper has the tables, the addresses, the risks and the caveats, including the one about Uniswap's pool protocol fee. Read it, or grab the PDF, and tell us what is wrong with it via the contact page.