About Biconomy (BICO)
Biconomy is a multi-chain relayer protocol that provides a range of APIs and SDKs to simplify the Web 3.0 experience, making it easier to onboard new users and removing frictions for existing ones. BICO, the platform's native token, is used throughout the network's delegated proof-of-stake consensus mechanism, to reward liquidity providers and facilitate decentralized governance functions.
Using a range of products that developers can build into decentralized applications, Biconomy alleviates many of the common Web 3.0 pain points. Mexa, the project's gasless transaction solution, uses the concept of "meta transactions," which the user signs and other network participants fund. Forward can be integrated into DApps to allow users to pay gas fees in any ERC-20 token in instances where the user paying their own transaction costs is appropriate. For example, in DeFi apps. Finally, Hyphen, Bicomy's cross-blockchain transfer tool, leverages the project's LiquidityPoolManager contracts to enable seamless transactions between supported networks.
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