BEST Recap #10

Sophie Nicolas

By Sophie Nicolas

Welcome to the tenth instalment of the Bitpanda Ecosystem Token Recap. In this series, we’ll tell you everything you need to know about BEST, such as updates, token burns and rewards.

And don’t worry if you missed the last recap, you can find it here.

BEST updates:

We burned a record number of BEST in the fourth token burn

On the 29th of October, we burned (destroyed) a record number of 28,309,516 BEST - the equivalent of €2,462,928! For comparison: in our previous BEST burn which took place on the 30th of July, 2020, we burned the equivalent of €1,476,188 in BEST! These were permanently destroyed and are part of the overall strategy for BEST. We again burned more than 25% of the BEST used for trading premiums in the time between the 30th of July and the 29th of October, 2020.

Read more about the fourth BEST burn in CEO Paul Klanschek’s article here.

Third BEST VIP vote

On the 25th of September, we held our third coin vote for BEST VIPs. We wanted to know your opinion on which DeFi tokens to add next. Well, you voted and we listened, and we have since implemented 12 new DeFi tokens on Bitpanda. Read more about our third coin vote here.

Bitpanda Plus program

And lastly, we’ve announced that as a BEST VIP level 3 holder, you will automatically be eligible for the Bitpanda Plus programme!  What’s great about this? Well, Plus users receive exclusive support, can trade with large volumes beyond our default limits and are able to shape current and future developments at Bitpanda with their feedback!

We held a BEST trading competition!

From the 21st of September to the 5th of October, 2020 we held a trading competition and gave away over €10,000 in BEST! Read more about our Simply the BEST giveaway on our blog and find out who the winners were.

And lastly, we went live on HitBTC

In other news, you can now trade BEST against Bitcoin on HitBTC!

Let’s look at the BEST statistics for October 2020

Percentage of active traders who use BEST to pay trading premiums:

As you can see, in July 2020, 30.1% of our traders used BEST to pay trading premiums. After a slight decrease to 29.3% in August 2020, we then saw this rise to 29.9% in September. And finally, this then rose again and we saw that 30.9% of trading premiums were paid in BEST for October 2020.

Overall, we’ve had a steady past three months of BEST usage, and we’re still happy to see around a quarter of all trading premiums on both Bitpanda and Bitpanda Pro are being paid using BEST!

That’s all for this recap, don’t forget to keep an eye on our blog for more news regarding BEST and other projects!

Are you inspired and ready to buy some BEST?

You can buy BEST on Bitpanda or Bitpanda Pro. You can also swap any supported cryptocurrency, stablecoin and even digitised gold, silver, palladium and platinum to BEST. Happy trading!

Please note that we will stick to our policy to not report the exact amount of BEST collected for competition reasons.

Sophie Nicolas

Sophie Nicolas