DEFINFTs Apes & BSCEX.org: AMA Recap.
On Thursday 21st January 2021, we welcomed @tonybscex and @clarkyi of BSCEX.org into DEFINFTs Apes Gems telegram chat. @tonybscex is the CEO and founder of BSCEX and @clarkyi is BSCEX’s CTO & Co-founder
BSCEX is a Decentralized non-custodial cryptocurrency exchange-centered ecosystem that runs on Binance Smart Chain (BSC). BSCEX’s mission is to make Binance’s off-chain services available on the blockchain, develop the applications on BSC, and promote the features of decentralized finance that let their users earn tokens and gain many other economic benefits.
In this post, we have compiled key questions and answers from the event.
Q1. Hello, Apes! We are glad to meet here @tonybscex and @clarkyi of BSCEX.org, and they will start by introducing themselves, giving us a short pitch of themselves and BSCEX.org stating the different moving projects of the BSCEX.org Ecosystem!
A. BSCEX is a decentralized non-custodial cryptocurrency exchange that aims to facilitate the services that exchange-centered ecosystems provide. This project’s primary goal is to bring Binance’s off-chain services on-chain to the Binance Smart Chain (BSC). BSCex is developing its unique Cross Liquidity Layer 2 protocol, which utilizes multiples AMM’s liquidity. It already launched at swapx.bscex.org . This is our core technology. We will use this technology to bring the liquidity from all BSC’s AMMs to our Swapx at swapx.bscex.org and so on our upcoming product: DexX (a decentralized exchange).
Q2. Why launch on Binance Smart Chain?
A. Very simple: it’s faster and cheaper than Ethereum 😄. And backed by Binance.
Q3. Can you tell us more about SwapX AMM Aggregator?
A. SwapX is an AMM Aggregator like 1inch? SwapX is providing users with the most optimal swaps. The BSCex Aggregating Engine identifies the best AMM to divide, match, and execute users’ orders to achieve this. This protocol allows users to access a larger portion of the BSC’s liquidity, providing more efficient swaps and avoiding unnecessary slippage.
As you can see at the picture above, if BHC users swap 100 BNB for BHC at streetswap, they get 873.651 BHCs only. But if they use Bscex SwapX, they get 891.79 BHCs. That’s huge different. Users can save a lot of money if they use SwapX. You can try it yourself at swapx.bscex.org. You can compare all other pairs from all other AMMs with SwapX. SwapX always bring the better swap rate.
Q4. Can you tell us more about LaunchpoolX and LaunchpadX?
A. LaunchpadX is the on-chain version of Binance exchange’s Launchpad for small and medium projects. It is the platform for small-size crypto startups to raise their fund through the process called IDO (Initial Dex Offering).
LaunchpadX is currently in testnet stage. The difference here is that only those who win the LuckyStar ticket of the LaunchPadX have the right to participate in the IDO. To win the ticket, participants have to lock their BSCX token for at least 1 year.
LaunchpoolX is the decentralized version of Binance exchange’s Launchpool. LaunchpoolX lets you use your tokens and the liquidity provider (LP) token of the BSCX-BUSD pair to farm (earn) a new token, for free. The amount of tokens you earn each daily is proportional to the number of tokens you have subscribed to the pool vs the total number of tokens subscribed to the pool. The tokens you earn are distributed to you in real-time. We are going to launch launchpoolX v2, also within 2 weeks. New features of launchpoolX v2 are: More type of token rewards. Flexible terms.
You guys are able to using launchpadX v1, which is already LIVE with quite a good APY at this time: ~1000–2000%
Q5. What is the process of listing on LaunchpoolX and LaunchpadX like? Centralised or Decentralised, KYC or not? How do you guys intend to stop rug pullers? Any intention of coding a team.finance and unicrypt.network like tools in your ecosystem to get participating in projects more safe?
A. Just a leak. Our next ido will be utility for gem hunters and they support feature like unicrypt as well, would be dextools + unicrypt with more features to come. Projects have to have a working products to be qualified for launchpoolX and launchpadX. you can introduce us potential and quality projects, so that we can help them. Off course, we have devs in the community
Q6. Can you tell us more about DexX?
DexX is the BSCex ecosystem’s decentralized crypto exchange that built on Binance Smart Chain. The DexX will implement our protocol and technology (AMM+) to acquire the best liquidity of the Binance Smart Chain to facilitate its on-chain order book. Lacking liquidity is the biggest issue of new Dex. We ultilize AMM+ to provide liquidity for DexX. So basically DexX will have ~200M liquidity instantly after launch its official version. In addition, we build DexX by traders, for traders. Mean that we optimize all UX, to bring highest convenience for traders. With all popular functions: limit order, stop limit, market, stopmarket. With good UI.
Q7. The BSCX ecosystem has a token which you have stated some of its utility in LaunchpadX and LaunchpoolX. Can you note its other utilities and use cases in your ecosystem and recall for our community how all of these utilities affect its price.
A. BSCX has some features for price defense and protection: Deflation model: burn on transfer (will be voted by community). Token burn on each LaunchPadX project raised and BSCX has fixed supply, by design. BSCEX focuses on small and medium size of startup where provide utility to crypto community, especially DeFi on Binance chain. We have worked with many team and they are happy & looking for a good launchpad for their potential projects. So more BSCX will be burned in near future, as well as demand of BSCX to participate IDO while users have to lock their BSCX to have IDO tickets which is randomly picked by smart contract. We use chainlink for randomseed.
Q8. How do I buy BSCX Bep20 token on Binance Smart Chain?
A. Yeah, you can buy BSCX on pancakeswap.finance or have the best swap rate at swapX.bscex.org. BSCEX and its dapps are listed on different wallets: trustwallet, safepal, coin98 and many evm compatible wallet like binance wallet, metamask, tokenpocket. We highly suggest you to use ezDeFi ezdefi.com/download Since bscex.org is intergrated deeply in this wallet.
Q9. Do you consider BSCEX.org a DEFI + NFT project? If yes, state why, and if no, also state why! Is an NFT auction marketplace like on bounce.finance a possibility in the ecosystem?
A. We have a very strong technical team with high insight about this market. We started having a strong community as well. So at the first Quarter, we will focus on LaunchPadX and LaunchPoolX. After that, we can build more DeFi products for our users. NFTs and NFT auction is not an exception. We are not build only Dex, we build ecosystem for decentralization lovers.
Q10. Is there any roadmap for BSCEX.org you can share?
A. This is Q1Q2 roadmap of BSCEX.
1. SwapX with AMM+ Launched on Jan 11, 2021
2. LaunchPadX Feb 05, 2021
3. LaunchPoolX Feb 05, 2021
4. DexX v1 Feb 28, 2021
5. DexX v2 (With AMM+ intergrated) April 30, 2021
6. AMM+ v2 May 31, 2021.
You see we consistently delivery our products with huge features in a very short time. We are inspired by Binance and CZ, who did everything very fast.
Q11. How do you intend to get more attention in the Binance Smart Chain community and how do you guys intend to get Binance Smart Chain adopted generally?
A. We do believe in BSC in term of adoption. It will gain huge adoption in next few months while Ethereum have to take 2–4 years for ETH 2.0. Some layer2 solution of Ethereum may bring good tps, but data availability is very important. That is why we put our belief on BSC first. We will build adoption in two ways: Collaborate with BSC projects, eg Trading Competition in next few days. Bring more ETH users to use BSC to have advantages of cheap gas fee and speed. By collaborate with community who are DeFisters on Ethereum.
Q12. Is Governance an aspect you are considering, and in what way do you think you can introduce decentralized governance to the platform? How soon do you think governance will come along?
A. We find governance is very important for a blockchain projects. We are trying our best to bring the fairnest. With many researches are currently done by us recent days. You can try our initial governance voting at governance.bscex.org . We listerned to our community and have some changes today: eg having core voting and bring LP token for voting power.
To find out more about BSCEX.org, please see:
Website : https://bscex.org/
Telegram : https://t.me/bscextalk
Twitter : https://twitter.com/bscexofficial
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