What is Biconomy (BICO)

1. Project Introduction
Biconomy (BICO) is a multi-chain transaction infrastructure designed to simplify Web3 application transaction management, gas fee payments, and cross-chain bridging. Its key features include:
Gasless Transactions – Allowing users to interact with DApps without needing ETH for gas fees.
Cross-Chain Transfers – Integrating multiple Layer 2 solutions for fast and cost-effective cross-chain transactions.
Multi-Signature Support – Enabling logins through social accounts, hardware wallets, and other authentication methods.
SDK Toolkits – Providing developers with tools to enhance DApp scalability.
Delegated Authorization Network (DAN) – Further optimizing the Web3 user experience.
Summary: Biconomy is a non-custodial, multi-chain relayer protocol that eliminates the complexity of frequent network switching in Web3 transactions, offering a seamless and frictionless experience.
2. Team & Investment Info
Biconomy was founded in 2019 by Ahmed Al-Balaghi, Sachin Tomar, and Aniket Jindal, a team of top-tier blockchain experts.
Ahmed Al-Balaghi (Co-Founder) has extensive experience in the blockchain industry and has played a key role in promoting blockchain education and adoption in the Middle East and beyond. He is also the founder of the Encrypted podcast, which bridges the gap between the blockchain industries of the East and West.
Aniket Jindal (Co-Founder) has deep investment experience in India's blockchain sector and was an advisor to MATIC Network.
Sachin Tomar (Co-Founder & CTO) has a strong background in tech development, having worked at Samsung and Make My Trip. He leads Biconomy’s technological innovations.
Funding:
Since its inception, Biconomy has secured multiple funding rounds, attracting investments from top VCs and angel investors worldwide.
January 2021: Raised $1.5M in a seed round, with a valuation of $22.5M.
July & October 2021: Raised $9M via SAFT and an additional $11.5M through token sales.
March 2024: Secured strategic funding from Jump Capital, Borderless Capital, Consensys Ventures, Taisu Ventures, Manifold Trading, Side Door Ventures, and Blockchain Founders Fund, driving further development and innovation.
3. Social Media URLs
X: https://x.com/biconomy
Telegram: https://t.me/biconomy
Discord: https://discord.gg/biconomy
YouTube: https://www.youtube.com/channel/UC0CtA-Dw9yg-ENgav_VYjRw
4. Token Info
Token Symbol: BICO
Total Supply: 1,000,000,000
Token Type: ERC-20
Issuance/Burn Mechanism: Fixed supply
Contract Address: 0xf17e65822b568b3903685a7c9f496cf7656cc6c2
Token Distribution:
Pre-Seed: 6% (9-month lock-up, 27-month linear vesting)
Seed: 6.38% (9-month lock-up, 24-month linear vesting)
Private Sale: 12% (10% at TGE, 6-month lock-up, 24-month linear vesting)
Strategic Investors: 0.5% (10% at TGE, 3-month lock-up, 12-month linear vesting)
Public Sale (Option 1): 4% (3-month linear vesting)
Public Sale (Option 2): 1% (10% at TGE, 6-month lock-up, 6-month linear vesting)
Team & Advisors: 22% (12-month lock-up, 24-month linear vesting)
Foundation: 10% (10% at TGE, 12-month lock-up, 24-month linear vesting)
Community Incentives: 38.12% (7.5% at TGE, 47-month linear vesting)
5. Related Links
Official Website: https://www.biconomy.io/
GitHub: https://github.com/bcnmy
LinkedIn: https://www.linkedin.com/company/biconomy
Other Info: https://docs.biconomy.io/