The Bibox Token (BIB) is the native token of the Bibox exchange platform. Founded in 2017, the token is similar to other exchanges, allowing holders to receive discounts, waived fees, and redeem the token in various services.
The Bibox exchange markets itself as a digital assets exchange that features Artificial Intelligence (AI) strongly. This, the team says, is present in many of the properties that make the Bibox exchange more secure and efficient. Other distinguishing features of the exchange is that it uses a distributed clustering system that enables a transaction throughput of 10 million.
The exchange has a suite of products and services, including a staking service, a blockchain startup incubator, decentralized trading, and a credit card service to a limited group of customers. Margin trading, which has shown increasing volume in 2019, services are also available.
As an exchange, Bibox is primarily focusing on increasing the number of assets on its platform, and working on improving its trading services. The exchange currently has over 90 digital assets and, to compete with more well known exchanges like Binance and Coinbase, it will have to refine and build on its AI-based features.
Bibox has also been working on its ecosystem, most recently acquiring DEx.top. The other major milestone of 2019 was the launch of the incubator BiboxLab, which has already seen over 20 startups be selected.