BipCoin: A Censorship-Resistant Decentralized Domain Name System

Alright, friends, today let’s talk about a project that’s recently attracted some attention in the blockchain world, called **BipCoin**. But before we dive in, I need to clarify: there are actually two projects out there called “BipCoin.” Today, we’re focusing on the one associated with the “GibThom Project,” which launched on January 26, 2025. The other, older BipCoin project has its own whitepaper, but seems largely inactive now, and its official website is no longer accessible. So, our focus is on this newer, more “story-driven” BipCoin. Please remember, I’m just sharing information for educational purposes—this is absolutely not investment advice. The crypto market is highly volatile and risky, so always do your own research and proceed with caution.

What is BipCoin

Imagine you have a favorite cartoon character, or an artist you follow. Now, what if that character or artist could issue their own exclusive “digital ticket” or “digital currency,” which you could use to support them, buy their merchandise, or even participate in their creative process—wouldn’t that be fun? BipCoin, or more precisely, “The Bipcoin Project,” is a product of this concept. It’s a “crypto commodity” and “utility token” based on a cartoon character named “Bip” from the “GibThom Project.”

Simply put, it’s not a standalone blockchain, but more like a digital asset issued on an existing blockchain. Its main goal is to provide fans of the “Bip” character and the “GibThom Project” with a new way to interact, allowing them to use the token to buy digital goods or gain special promotional opportunities within the project’s content.

Project Vision and Value Proposition

The vision of the BipCoin project is to inject blockchain vitality into a popular IP (intellectual property). By issuing this token, it hopes to increase the visibility and influence of the “GibThom Project,” and bring more emotional value to the project.

Its core value proposition is to provide holders with real “utility.” For example, fans can use BipCoin to purchase digital assets, or get “shoutouts,” marketing, or advertising opportunities within the “GibThom Project” content.

Additionally, the project aims to be a catalyst for building a decentralized platform, enabling more “high-quality” artists to use crypto assets to launch their own projects, just as BipCoin itself is doing.

Technical Features

As a “utility token,” BipCoin itself is not a standalone blockchain. According to publicly available information, it’s described as a “crypto commodity” and “utility token,” but the specific issuing chain (e.g., whether it’s an ERC-20 token on Ethereum, or a BEP-20 token on Binance Smart Chain) is not clearly stated in current materials.

This means it relies on the underlying blockchain’s technology and security. Due to the lack of detailed information about its technical architecture and consensus mechanism, we can’t delve into its technical specifics. However, typically, the transaction speed and security of such tokens are affected by the performance of the public chain they depend on.

Tokenomics

The token symbol for BipCoin is **BIP**.

Basic Token Information

• Total Supply: Approximately 20 billion (exactly 19,999,999,999 tokens).
• Issuance Mechanism: The project team has set a fixed total supply, meaning it’s not continuously minted through mining or other means.
• Inflation/Burn: The project promises that once the market cap reaches $15 million, 3% of the tokens in project member wallets will be burned. Additionally, the use of Non-Circulated Tokens—including extra liquidity pairing, facilitating listings on other exchanges, and burning—will be decided by community vote.

Token Utility

The main use of BIP tokens is as a utility tool within the “GibThom Project” ecosystem:

• Purchase Digital Assets: Holders can use BIP to acquire project-related digital goods.
• Marketing and Advertising: Fans, sponsors, and other entities can use BIP to buy “shoutouts,” promote their materials or products within project content.
• Community Governance: Holders will have the opportunity to participate in key project decisions, such as the use of Non-Circulated Tokens and adjustments to transaction fees (any fee adjustment over 0.1% requires 75% community vote approval).

Token Distribution and Unlocking Information

The initial distribution plan for BIP tokens is as follows:

• Non-Circulated Tokens: 10% (about 2 billion). These tokens are not initially in circulation, and their use will be decided by community vote.
• Project Member Wallets: 24% (about 4.8 billion). These tokens are allocated to project members and supporters. The project promises to disclose these wallet addresses and stipulates that project member wallets must hold at least 15% of their 24% share in the first month, and 10% in the first six months.
• Operations: 12% (about 2.4 billion). Used for ongoing operations, utility development, and daily expenses.
• Public Trading: 54% (about 10.8 billion). This portion of tokens will be freely traded by the community.

The project also promises not to withdraw any liquidity within the first six months after launch.

Team, Governance, and Treasury

Core Members and Team Features

The BipCoin project was initially launched by YouTube animator Samuel (creator of the “GibThom Project”). However, the project faced strong opposition and skepticism from fans at launch, with many accusing it of being a “cash grab.” Under intense public pressure, Samuel later announced he had “parted ways” with the BipCoin project and expressed regret for his involvement. Nevertheless, the project team appears intent on continuing operations and continues to use the “GibThom Project” characters and artwork.

This team structure and the founder’s “exit” bring uncertainty to the project’s long-term development. Although the project website mentions “project member wallets,” no other core team members are clearly listed besides Samuel.

Governance Mechanism

The BipCoin project plans to adopt a community-driven governance model. For example, the future use of Non-Circulated Tokens (such as burning or liquidity provision) will be decided by community vote. Additionally, any transaction fee adjustment over 0.1% requires 75% community vote approval. This mechanism is intended to give token holders some decision-making power, but its effectiveness and degree of decentralization remain to be seen.

Treasury and Funding Runway

12% of the total token supply is allocated for “operations,” which will be used for ongoing development, utility building, and daily expenses. Additionally, the use of Non-Circulated Tokens may also be decided by community vote for purposes such as increasing liquidity. However, detailed information about the project’s treasury size and financial reserves has not been disclosed.

Roadmap

The BipCoin project officially launched and issued its token on January 26, 2025.

Key Historical Milestones:

• January 26, 2025: BipCoin token officially launched.
• January 2025 (approx.): Project initiator Samuel (GibThom) announced his “parting ways” with the project due to strong fan opposition, but the project still plans to continue.

Upcoming Plans:

• Coming soon: Utility NFTs.
• Coming soon: Artist Platform.

The project’s roadmap is relatively concise, mainly focusing on expanding utility after token issuance, especially the development of NFTs and the artist platform.

Common Risk Reminders

Friends, understanding risks is crucial when considering any crypto project. BipCoin is no exception, and faces risks in the following areas:

• Technical and Security Risks:
  • Underlying Blockchain Dependency: Since the project hasn’t specified which underlying blockchain it relies on, its security will directly depend on the robustness of that public chain. If the underlying chain has issues, BipCoin will be affected.
  • Smart Contract Risks: As a token project, its smart contracts may have vulnerabilities. If the contract code hasn’t been rigorously audited (no public audit report found so far), it may be at risk of attack.
  • Unknown Technical Details: The lack of detailed technical architecture and implementation details makes it difficult for outsiders to assess its technical reliability.
• Economic Risks:
  • Market Volatility: The crypto market is extremely volatile, and as a new project, BipCoin’s price may experience wild swings, or even go to zero.
  • Liquidity Risk: Although the project promises not to withdraw liquidity for six months, if the market loses interest, liquidity may dry up, making it hard to buy or sell.
  • “Cash Grab” Concerns: The project was questioned as a “rug pull” at launch due to its influencer IP association and the founder’s “exit,” which may affect its long-term credibility and value.
  • Utility Delivery: The project’s value largely depends on whether its promised utilities (such as NFTs and the artist platform) can be successfully delivered and widely adopted. If these plans fail, the token’s value may suffer.
• Compliance and Operational Risks:
  • Founder Controversy: The founder Samuel’s “exit” and strong community opposition pose major challenges to the project’s operations and trustworthiness.
  • Legal Compliance: Crypto regulation is constantly evolving, and the project may face unknown compliance risks in the future.
  • Centralization Risk: Although it claims community governance, if most tokens are concentrated in a few hands, or the core development team has too much actual influence, centralization risk may exist.

The project team also clearly states in its disclaimer: “We are not financial advisors, and the information provided should not be considered financial advice. The cryptocurrency market is highly volatile and may experience extreme price swings in a short period. We make no promises, representations, or guarantees regarding the success of this project.” This further emphasizes the inherent risks of investing in this project.

Verification Checklist

When researching any blockchain project, here are some key pieces of information you can verify yourself:

• Block Explorer Contract Address: Unfortunately, current public information does not specify which blockchain BipCoin is issued on (e.g., Ethereum, BSC), so no specific contract address can be provided for checking. This is a notable missing piece of information.
• GitHub Activity: No official BipCoin GitHub repository or code activity information has been found so far. For a project claiming technical development and future plans, codebase transparency and activity are important indicators of health.
• Audit Report: No smart contract audit report for BipCoin has been found so far. Audit reports are usually issued by third-party security firms to assess the safety of smart contract code, and are important proof of project transparency and reliability.
• Official Social Media: The project team encourages users to follow its official social media channels for the latest updates.

Project Summary

BipCoin (The Bipcoin Project) is a utility token project related to the “GibThom Project” cartoon IP, aiming to provide fans with new ways to interact and support through blockchain technology, and plans to build NFT and artist platforms. It has a clear total token supply and distribution plan, and promises partial governance through community voting.

However, the project was controversial from the start, with its founder announcing an “exit” due to strong community opposition, casting a shadow over its credibility and long-term prospects. In addition, key information about its underlying blockchain, specific technical implementation, code transparency (GitHub activity), and smart contract audit reports is currently missing or unclear.

From a storytelling perspective, it tries to combine a popular IP with cryptocurrency to create a new fan economy model. But in terms of technical reliability, the lack of core technical details and audit reports, plus founder controversy, make this project face high risks and uncertainty.

In summary, BipCoin is a project full of concepts and vision, but faces significant challenges in transparency, technical maturity, and community trust. For anyone considering participation, I must stress again: this is not investment advice. Be sure to do thorough personal research (DYOR), and fully understand the significant risks involved. Do not invest more than you can afford to lose.

For more details, please research on your own.