About BITx

BITx is a token on the XRP Ledger (XRPL) that merges Bitcoin's ideological principles with the utility of the XRPL. Launched on July 12, 2023, BITx has a fixed total supply of 21 million tokens, mirroring Bitcoin's capped supply model. The issuing wallet has been blackholed, making it impossible to issue any additional BITx, permanently fixing its scarcity. Existing on the XRPL, BITx users benefit from fast transaction speeds and low fees. BITx is distributed through a swap mechanism, allowing holders of certain XRPL tokens to exchange them for BITx, promoting engagement and rewarding previous participation with the XRPL ecosystem. This exchange offer also functions to slow the introduction of newly circulating BITx supply and can be thought of as the BITx version of Bitcoin mining.

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