Bikearn: A Web3 Ride-to-Earn Exercise App
The Bikearn whitepaper was initiated and published by the core project team in 2022, aiming to respond to the rising demand for combining healthy lifestyles with the crypto economy in the context of Web3, Move-to-Earn (M2E), and Game-Fi, and to explore new models of “Move-to-Earn.”
The theme of Bikearn’s whitepaper is “Bikearn: A Web3 Exercise App Based on Move-to-Earn and Game-Fi Systems.” Bikearn’s uniqueness lies in its key mechanism of “NFT Bike + Ride-to-Earn Token,” which, by integrating Web3 technology, gamification elements, and an AI anti-cheat system, enables users to earn rewards through cycling on Binance Smart Chain. Bikearn’s significance is in providing users with both fitness and economic value, significantly lowering the barrier to entry for Web3 exercise, and promoting the integration of healthy lifestyles with blockchain technology.
Bikearn’s original intention is to create a Web3 exercise platform that makes cycling fun and rewarding, solving the lack of incentives in traditional fitness, and allowing more people to enjoy the pleasure of exercise. The core viewpoint expressed in the Bikearn whitepaper is: by combining NFT assets with real cycling activities, Bikearn builds a bridge between health incentives and the crypto economy, enabling users to gain sustainable digital asset returns while enjoying exercise.
Bikearn whitepaper summary
What is Bikearn
Friends, imagine this: every day you ride your bike to work, to school, or just for exercise—not only do you enjoy the fun of working out, but you can also earn some money along the way. Pretty cool, right? Bikearn is exactly such a project; it’s like a “ride-to-earn” mobile app. It combines our daily cycling activities with blockchain technology, allowing you to earn digital currency rewards through gamified mechanisms while you ride.
Simply put, Bikearn is a Web3 exercise app, built on the Binance Smart Chain (BSC for short; you can think of it as a blockchain platform with fast transaction speeds and low fees). Its core gameplay is “Move-to-Earn” and “Game-Fi.” You need to own an NFT Bike (NFT stands for “Non-Fungible Token”—think of it as a unique digital asset on the blockchain, like a virtual bike with its own attributes and value), and then you can earn Bikearn tokens by cycling.
The target users of this project are all cycling enthusiasts, whether for leisure, fitness, or daily commuting. Bikearn aims to make cycling more fun and provide professional cycling routes, so you can share your riding experiences with friends while working out.
Project Vision and Value Proposition
Bikearn’s vision is to make exercise more valuable. It hopes to use blockchain technology to motivate more people to participate in sports, especially cycling. The core problem it addresses is how to combine healthy lifestyles with the digital economy, making exercise not just a consumption activity but one that can bring real returns.
Compared to similar projects, Bikearn focuses on the niche of “cycling,” offering users a unique “ride-to-earn” experience through NFT bikes and gamified mechanisms. It’s not just a simple pedometer, but a platform that integrates digital assets, game elements, and social interaction.
Technical Features
The Bikearn project is built on the Binance Smart Chain (BSC). This means it leverages BSC’s fast transaction speeds and low costs, giving users a smoother experience when performing in-game operations and token transactions.
Its core technical features include:
- NFT Assets: The bikes in the project are in NFT form, meaning each bike is a unique digital asset. Users can own, trade, and even upgrade these NFTs.
- Move-to-Earn Mechanism: By tracking users’ cycling data (such as distance, speed, etc.), and using preset algorithms, these exercise metrics are converted into token rewards.
- Gamification Elements: Beyond basic ride-to-earn, the project may also include competitions, marathons, marketplace trading, and other game elements to increase user engagement and fun.
Tokenomics
The token for the Bikearn project is called RTE, a utility token mainly used for various functions within the project ecosystem.
- Token Symbol: RTE
- Issuing Chain: Binance Smart Chain (BEP-20 standard; you can think of this as a technical specification for issuing tokens on BSC)
- Total Supply: 500 million RTE
- Token Utility: RTE tokens play an important role in the Bikearn ecosystem, for example:
- Earn Rewards: Users earn RTE tokens through cycling activities.
- In-game Spending: May be used to purchase or upgrade NFT bikes, participate in in-game activities, etc.
- Governance: May be used for community governance in the future, allowing token holders to participate in project decisions.
- Token Allocation: According to public information, the RTE token allocation is roughly as follows:
- Marketing: 3%
- Team: 10%
- Private Sale: 7%
- Public Sale: 13%
- Liquidity: 5%
- Bike to Earn: 58%
- Initial Issuance Info: RTE tokens were first issued in May 2022 through several launchpads (such as BinStarter, Bscstation, KingdomStarter) via an Initial DEX Offering (IDO), with an initial price of 1 RTE = $0.012.
Note: According to CoinGecko data, the current price information for RTE tokens is unavailable and liquidity is extremely low, meaning market trading may be inactive and buying/selling could be difficult.
Team, Governance, and Funding
Bikearn’s core team members include:
- Binh Nguyen: Founder & CEO
- Long Ngo: Co-Founder | CTO
- Thuy Le: BDR Manager
- Lien Nguyen: CMO
The team has a diverse background, covering technology, investment, marketing, and game design. The project was founded in 2022, with company headquarters in Germany.
Details about the project’s specific governance mechanisms (such as whether it uses a DAO) and financial reserves (treasury and runway) are not clearly mentioned in the available public information.
Roadmap
Key milestones and future plans for the Bikearn project are as follows:
- Q4 2021:
- Project conception, app interface design, wallet design.
- Website development, cycling mode, calculation of functions and attributes.
- Q1 2022:
- Developer website development.
- Core app development.
- May 2022:
- Initial DEX Offering (IDO).
- Beta version release.
- June 2022:
- Mainnet Version 1 release.
- Q3 2022:
- Version 2 release.
- Introduction of Tournament and Marathon modes.
- Marketplace V2 launch.
- Launch of Hire Bike feature.
Common Risk Reminders
Investing in any blockchain project comes with risks, and Bikearn is no exception. Here are some common risks to be aware of:
- Market and Economic Risks:
- Token Price Volatility: The cryptocurrency market is highly volatile; RTE token prices may rise or fall sharply.
- Liquidity Risk: According to CoinGecko, RTE token liquidity is currently extremely low, meaning you may have difficulty buying or selling tokens at ideal prices, or may not be able to sell at all.
- Sustainability of the Move-to-Earn Model: These projects require ongoing user growth and token consumption to sustain their economic model. If user numbers drop or the reward mechanism is poorly designed, token value may decline.
- Technical and Security Risks:
- Smart Contract Vulnerabilities: The project runs on smart contracts, which may have undiscovered bugs leading to asset loss.
- Platform Security: The app itself may face risks such as hacking or data breaches.
- Operational and Compliance Risks:
- Project Development Uncertainty: Roadmap implementation may face delays or changes; the team’s execution ability is key.
- Regulatory Risk: Global regulations for cryptocurrencies and Move-to-Earn projects are still unclear; future policy changes may impact project operations.
- Intense Competition: The Move-to-Earn sector is highly competitive; Bikearn needs continuous innovation to stay competitive.
Please note: The above risk reminders are not investment advice. Be sure to conduct thorough personal research and risk assessment before investing.
Due Diligence Checklist
As a blockchain research analyst, when evaluating projects, I recommend friends pay attention to the following:
- Block Explorer Contract Address: Find the RTE token contract address on Binance Smart Chain, and use a block explorer (such as BscScan) to check token holder distribution, trading volume, and on-chain activity.
- GitHub Activity: If the project has an open-source codebase, check its GitHub for code update frequency, commit history, and community contributions—this reflects development progress and transparency.
- Official Social Media and Community: Follow Bikearn’s official website, Medium blog, Telegram group, and X (Twitter) account to stay updated on project news, announcements, and community atmosphere.
- Audit Reports: Look for third-party security audits of the project’s smart contracts; audit reports help assess contract security.
Project Summary
Bikearn is a “ride-to-earn” Web3 exercise app based on Binance Smart Chain. Through NFT bikes and gamified mechanisms, it aims to incentivize users to earn RTE tokens by cycling. The project’s vision is to combine exercise with the digital economy, providing cycling enthusiasts with a new way to gain value. The team has a diverse background and completed early roadmap milestones such as token issuance and mainnet launch in 2022.
However, it’s important to note that, according to the latest market data, RTE token price information is currently unavailable and liquidity is extremely low. This means the project may face challenges such as insufficient market activity and difficulty in token trading. Anyone considering participation should fully understand the sustainability of its economic model, technical risks, and market liquidity. Blockchain projects develop rapidly and are full of uncertainty—be sure to conduct in-depth personal research (DYOR - Do Your Own Research) and carefully assess risks. This is not investment advice.
For more details, please research independently.