The bitcoin.one Token (BC1): What It Is and What to Check

The bitcoin.one token is called BC1. According to the project’s own pages, it is a utility token for a spending app built on BOB, a Bitcoin Layer 2, and it is not Bitcoin. Its total supply is 21,000,000,000, minted once, and the contract has no mint function, so supply can only fall through burns. That is the short version. The useful version is about what each of those claims depends on.

Start at the source. The bitcoin.one homepage describes a presale, an allocation table (40% presale, 15% liquidity, 15% ecosystem rewards, 30% treasury) and an app that lets users send BTC and BC1 by @username, swap BTC for BC1 and buy gift cards through Bitrefill. The whitepaper adds the fee schedule and the contract layout, and the risk page lists what could go wrong, including that the contracts have not been externally audited and that the app currently runs on a test network.

The design idea is a loop. A 2% margin on gift-card checkouts goes to a public vault, which buys BC1 on the open market and burns half of what it buys, sending the other half to rewards. Whether that loop matters depends entirely on real usage, which this site cannot measure and the buybacks page does not yet report. Our explainer on how buyback and burn works walks through the arithmetic and why a buyback is not a price floor.

Here is how this publication is organised:

• Basics: what BC1 is, the supply and allocation table, and the token vesting schedule.
• The technology: Bitcoin Layer 2 networks, BOB specifically, wrapped bitcoin and LayerZero omnichain tokens.
• Using it: buying gift cards with bitcoin, self-custodial wallets and staking rewards.
• Judging it: what a crypto presale is and a presale checklist.

A few things are not stated on the project’s pages as of our last check: a token price, a presale end date, a hard cap, the identity of the team or legal entity, the audit firm and a refund policy if the launch slips. Those gaps are normal questions to ask before spending anything. Roadmap dates such as a DEX listing in Q1 2027 are described as targets that can move.

We are an independent publication, not the project, and we are not affiliated with bitcoin.one or BOB. Nothing here is investment, tax or legal advice. Crypto-assets are volatile, you can lose everything you put in, and the sensible approach is to read the primary pages, such as the terms, and decide only with money you could afford to lose.