Biconomy (BICO) is a developer-focused Web3 middleware and infrastructure protocol launched via a Coinlist token sale on November 7, 2021, co-founded by Ahmed Al-Balaghi, Sachin Tomar, and Aniket Jindal, that provides modular blockchain infrastructure SDKs allowing dApps to offer gasless transactions (by relaying meta-transactions through Biconomy’s paymaster network), multi-chain swaps, and smart account (ERC-4337) wallets to end users — dramatically improving the user experience of Web3 applications by abstracting away the complexity of gas management and cross-chain bridging, with BICO as the ERC-20 governance and node operator staking token.
| Stat | Value |
|---|---|
| Ticker | BICO |
| Price | $0.02 |
| Market Cap | $16.67M |
| 24h Change | +9.7% |
| Circulating Supply | 726.38M BICO |
| Max Supply | 1.00B BICO |
| All-Time High | $21.45 |
| Contract (Ethereum) | 0xf17e...c6c2 |
| Contract (Arbitrum One) | 0xa68e...e74d |
How It Works
- Meta-transactions — Biconomy’s original core product. Using EIP-2771 (Trusted Forwarder), a user signs a transaction off-chain without holding ETH for gas. A Biconomy relayer node submits the signed transaction and pays the gas. The dApp reimburses the relayer in ETH/ERC-20 tokens. Users experience “gasless” transactions.
- Paymasters (ERC-4337) — Biconomy’s next-gen approach using ERC-4337 (Account Abstraction). Paymasters are smart contracts that sponsor gas fees on behalf of users. Biconomy provides ready-made Paymaster contracts and a dashboard to configure gas sponsorship policies (e.g., sponsor first 10 transactions per user, or allow gas payment in USDC).
- Smart Accounts (ERC-4337) — Biconomy’s smart account SDK enables ERC-4337 “smart wallets” for end users — contract-based accounts with programmable features like social recovery, batched transactions, session keys, and gasless operations. Developers deploy smart accounts for their users through Biconomy’s SDK.
- Hyphen (cross-chain bridge) — Biconomy’s liquidity network for fast, low-cost cross-chain token transfers. Uses a liquidity provider model: LPs stake assets on each chain; transfers are cleared from LP pools instantly, with rebalancing happening in the background.
- BICO governance — BICO stakers participate in governance decisions and can stake to run Biconomy relayer nodes.
Tokenomics
| Parameter | Value |
|---|---|
| Ticker | BICO |
| Contract | 0xF17e65822b568B3903685a7c9F496CF7656Cc6C2 |
| Chain | Ethereum ERC-20 |
| Max Supply | 1,000,000,000 BICO (1 billion) |
| Token sale | November 7, 2021 (Coinlist) |
| Distribution | Team, investors, ecosystem, staking rewards |
Use Cases
- Gasless dApps — Enable dApp users to transact without holding ETH.
- Gas payment in ERC-20 — Let users pay gas fees in USDC, DAI, or other tokens.
- ERC-4337 smart wallets — Deploy consumer-grade smart account wallets with advanced features.
- Cross-chain bridging — Fast asset transfers via Hyphen liquidity network.
- Node operation — Stake BICO to run relayer nodes and earn fees.
History
- 2019 — Biconomy founded in Singapore by Ahmed Al-Balaghi, Sachin Tomar, and Aniket Jindal. Early focus on making blockchain UX simpler through meta-transactions.
- 2020–2021 — Biconomy’s relayer infrastructure gains adoption among Ethereum dApps (Decentral Games, Perpetual Protocol, Curve, and others use Biconomy for gasless experiences). The team iterates on gas management tooling.
- 2021-11-07 — BICO token launches via Coinlist sale. Subsequent listing on major exchanges including Coinbase, Huobi, KuCoin. Token sale raises $10 million.
- 2022 — Hyphen (cross-chain bridge) launches. ERC-4337 Account Abstraction standard is finalized; Biconomy becomes one of the earliest teams to provide production ERC-4337 infrastructure.
- 2023 — ERC-4337 gains significant developer attention as a path to consumer-friendly crypto wallets. Biconomy’s Smart Account SDK becomes one of the leading Account Abstraction infrastructure toolkits. Partnerships with multiple major dApps and wallet providers.
- 2023-06 — Biconomy’s Nexus (next-gen modular smart account) architecture announced, designed as the most modular ERC-4337 smart account implementation.
- 2024 — Biconomy Nexus smart account launches. Biconomy positions as the leading Account Abstraction middleware. Adoption among consumer crypto applications (games, DeFi wallets, etc.) that need non-technical UX. BICO token trades significantly below 2021 ATH amid broader bear market despite continued product traction.
Common Misconceptions
“Gasless transactions mean Biconomy pays for all gas.”
Gas fees are paid by someone — just not necessarily the end user. Meta-transactions work by having the dApp (or a Biconomy Paymaster) subsidize gas. The gas is paid in ETH to the Ethereum network regardless; the abstraction is about who pays and in what token.
“Biconomy is a wallet.”
Biconomy is backend infrastructure (middleware) used by dApp developers. It is not itself a consumer-facing wallet application. dApps that integrate Biconomy can offer their users improved UX features, but users don’t download a “Biconomy wallet.”
Social Media Sentiment
Biconomy is respected in developer and infrastructure-focused crypto circles as a genuine UX improvement layer. The ERC-4337 wave of 2023 validated their early positioning. BICO token has underperformed despite real enterprise adoption — infrastructure tokens often face this disconnect (users don’t need to hold BICO to use Biconomy-powered apps). The Nexus modular smart account architecture has received positive technical reviews. Competition includes ZeroDev, Stackup, Alchemy’s Account Kit, and other ERC-4337 bundler/paymaster providers.
Last updated: 2026-04