Bibox is a cryptocurrency exchange that was started by a group of top-tier Chinese blockchain experts including founding members of OKCoin and HuoBi.com.
The company claims it will incorporate Artificial Intelligence into the exchange in the future. However, it is unclear how the company will incorporate AI and what function it will serve.
The BIX token serves to pay trading fees on the Bibox exchange. In addition, Bibox plans to offer more VIP services which utilize the Bibox token. There are also plans for BIX burn events. This is where the company buys back a certain amount of tokens from the market using their profits and destroys the tokens to decrease total supply.