Bitvavo adds new coin TREAD: what you need to know

Bitvavo has expanded its offering with TREAD, the token of trading platform Tread.fi. New Bitvavo users also receive €10 free once they deposit €10.

TREAD is set up differently from many new cryptocurrencies: the trading platform has existed for some time, claims to process more than $100 billion in trading volume and, until now, has operated entirely without a token of its own. With TREAD, the project wants to give users and builders more say in the platform’s further development.

What is TREAD?

Tread.fi describes itself as a trading platform built by traders, for traders. The introduction of TREAD is not the starting point for the product. According to the project, the platform already runs with a team of around ten people and a community of thousands of users.

TREAD is intended to change that balance by placing part of the control with users. Traders who bring in volume, developers who build agents and strategies, and parties that integrate trading platforms can gain a stake in the ecosystem.

Decisions should gradually come to rest with token holders through so-called TREAD Improvement Proposals, or TIPs. Think, for example, of new features, integrations, agents and incentives.

Notably, according to the project, TREAD will never be sold through a presale or private investment round. Venture funds receive no special allocation either, and centralised exchanges do not receive tokens through launchpads.

How the TREAD token works

The total supply of TREAD is fixed from the outset. There is no mint function that could create additional tokens later. Tokens reserved for insiders also remain locked for a year before they become transferable.

TREAD has also deliberately chosen not to use traditional staking. Users receive no TREAD yield for locking up tokens. There are therefore no staking rewards or new token emissions to fund such rewards.

Instead, tokens can be locked or burned in exchange for the use of certain parts of the platform. The exact application of this will be determined through TIPs.

TREAD runs on Hyperliquid and Ethereum

Technically, TREAD seeks to connect different environments with one another. The token is a native spot asset in Hyperliquid’s order book and gains perpetuals via HIP-3. At the same time, TREAD exists as an ERC-20 token on Ethereum.

Via LayerZero, TREAD can move between Ethereum, HyperCore and HyperEVM. According to the project, the same total supply remains in place everywhere and no separate wrapped variant is required.

With its listing on Bitvavo, TREAD is now also accessible through the Dutch exchange. Anyone who wants to know more about the underlying trading platform can visit Tread.fi. That gives a platform which already claims to have processed more than $100 billion in trading volume a token for the first time, one that is also meant to give users a say in its future development.