AMA recap: Coin98 Wallet AMA with BSCex team
The Binance Smart Chain is an alternative, smart contract-enabled chain to Ethereum for the burgeoning DeFi market. Recently, Bscex was featured as the Star Project of the Binance Chain Community newsletter. Let’s dive deeper into our AMA with them to know more about the project.
What is BSCex?
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 our users earn tokens and gain many other economic benefits.
What is the most ambitious goal of your project? What are some upcoming updates?
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 our users earn tokens and gain many other economic benefits.
Collaborations and partnerships are some of the most important cornerstones to help improve adoption. Can you tell us about BSCEX current partners, plans for partnerships and what everybody stands to gain from these partnerships?
BSCEX is currently partnering with some well known projects on Binance Smartchain: Pancakeswap (Corevoting project), Burgerswap, EzDeFi, Coin98, some large audit partners like Verichains and upcoming partners we will announce in next couple weeks. We are strongly aware that partnership is really important in our growthpath and we are consistently working with new partners to bring more swapping traffic to SwapX in the next few days.
How is the safety and security of the BSCEX project better than other projects? What attracts users and investors to BSCEX in the long term?
Our developers have been building dapps ever since Ethereum was first released. Some even had the experience of working with Israel teams in developing dapps. People who are responsible for smart contracts are no different from digital lawyers, and they must have the ability to anticipate a host of scenarios, both good and bad.
We are working with a strong auditing team like Verichains and another strong partner we will announce in the next couple of weeks
Unique Products: AMM+ and DexX and strong business models: LaunchpoolX and launchPadX will be our strength compared to other projects. Amm+ and DexX will bring daily users and help us to build strong traders/holders. LaunchPoolX and launchpadX will be places where they can have long-term and mid-term investment to grow
Could you give an overview of $ BSCX Token tokenomics?
BSCX can be used in DexX, LaunchpoolX, and LaunchPadX. Users have to stake LP in which BSCX must be present to have rewards in launchpoolX, or to lock BSCX to earn IDO tickets. Part of the raised BSCX amount in LaunchpadX will be used for burning, hence the supply of BSCX will be decreased.
Most of the projects built in Ethereum. But why you decided to build Bscex on BSC chain? What are the advantages of using BSC?
We are huge fans of Ethereum and have been developing dapps on the Ethereum blockchain since the early days. However, the problem with Ethereum is an extremely high gas fee and limited transactions per second. That’s where BSC comes in. It is not as decentralized as Ethereum but it is a great solution for optimizing adoption. We believe that BSC will become a trend in the near future, and that’s why we chose BSC.
How does BSCEX plan to develop another trend that is more successful? What is the network performance for the exchange, does this protocol have sufficient bandwidth and speed to overcome the latency problem?
Our business model is not just Dex. Dex itself doesn't give much incentive to users since that model is easy to copy. We are strong at a combination of those things: SwapX, LaunchpoolX, LaunchPadX, and DexX to keep holders/traders/liquidity providers/innovation investors in an ecosystem. With the high performance of Binance Smart chain than Ethereum, it can perform ~120 times faster and cheaper than Ethereum can do.
Note: BSCEX has a special program for projects originating from Vietnam. If you are building a DEFI project - no scam, no MLM, just DM @clarkyi then they will support you guys.
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