What Is Biconomy (BICO)?
Biconomy (BICO), launched in December 2021, is the native governance and utility token of the Biconomy protocol, a multichain relayer infrastructure on the Ethereum blockchain and 20+ EVM-compatible chains like Polygon, BNB Chain, and Blast. Founded by Biconomy Labs, it simplifies Web3 user experiences by enabling gasless transactions, social logins, and cross-chain interactions. BICO powers transaction fees, staking, governance, and developer incentives, with $520M in total value processed.
Key Features
- Gasless Transactions: Meta-transactions allow users to interact with dApps without paying gas fees upfront.
- Multichain Support: Operates on 20+ chains, processing 50K daily transactions for 40+ dApps like Curve Finance.
- Account Abstraction (AA): Enables social logins and one-click interactions, onboarding non-crypto users.
- Ecosystem: Integrates with dApps like Decentral Games and Sapien Network, with 28K MetaMask accounts.
BICO Token
- Purpose: Used for network fees, staking, governance voting, and rewarding node operators.
- Supply: Circulating supply of ~960 million BICO, with a max supply of 1 billion.
- Contract Address: On Ethereum, BICO’s contract is
0xf17e65822b568b3903685a7c9f496cf7656cc6c2
(addable to MetaMask). CoinGecko CMC.
Who Are the Founders of Biconomy?
Biconomy was founded in 2019 by Ahmed Al-Balaghi, Sachin Tomar, and Aniket Jindal. Al-Balaghi, CEO, previously worked at Binance and Viewfin. Backed by Coinbase Ventures, Binance Launchpad, and Mechanism Capital, Biconomy raised $9M in 2021 via a public sale on CoinList. The team aims to make Web3 as intuitive as Web2.
What Makes Biconomy Unique?
Biconomy simplifies Web3 adoption:
- Meta-Transactions: Users pay gas in any ERC-20 token or none, with third parties covering fees.
- Gas Optimization: Reduces gas costs by up to 40%, enhancing dApp usability.
- Cross-Chain Relayer: Supports seamless interactions across chains via Khalani and ApeChain integrations.
- Developer-Friendly: SDKs enable dApps to abstract Web3 complexities with minimal code.
BICO Network Upgrades (2025)
- HyperSignals Launch (June 2025): Gave BICO stakers (500+ BICO) early access to elite trader insights on Hyperliquid.
- Blast Integration (Q1 2025): Processed $360M (69% of $520M total value), boosting multichain adoption.
- Boomerang Protocol (March 2025): Enabled decentralized incentives, increasing dApp engagement by 15%.
How Is BICO Secured?
Biconomy and BICO are secured through:
- Ethereum PoS: Leverages Ethereum’s Proof-of-Stake for transaction and smart contract security.
- Non-Custodial Design: Users retain private keys, ensuring trustless meta-transactions.
- Smart Contract Audits: Regular audits by firms like CertiK protect relayer and dApp integrity.
- Governance: BICO holders vote on protocol upgrades, ensuring decentralized control.
Conclusion
Biconomy (BICO) powers a multichain relayer protocol, simplifying Web3 with gasless transactions, account abstraction, and cross-chain support. With $520M processed, 28K MetaMask accounts, and upgrades like HyperSignals, Biconomy drives DeFi and dApp adoption.