Introduction and Tokenomics
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.
The technology of BSCex focuses on the unique technology that is called Cross Liquidity Layer 2. This technology utilizes the liquidity of the popular AMMs on BSC such as Pancakeswap, BakerySwap, BurgerSwap to provide even better liquidity and yield-farming services for crypto traders and yield farmers. The depositors provide liquidity to the market to earn a passive income in the form of our BSCX token.
BSCX token is minted by Liquidity Mining. It is the governance and equity token of the BSCex ecosystem. Users holding BSCX can participate in liquidity farming, IDO (LaunchpadX), LaunchpoolX, and many other on-chain activities of the BSCex ecosystem that warrant the economic benefits of our token holders. BSCX contract adopts a completely fair distribution mechanism to make sure that no one can interrupt the fairness of our ecosystem.
Name: BSCX token
Network: Binance Smart Chain
Smart Contract Address: 0x5ac52ee5b2a633895292ff6d8a89bb9190451587
Total Supply: 100,000,000 BSCX
Farming: 96,800,000 BSCX
IDO: 2,000,000 BSCX
Liquidity 1 (After IDO): 422,806 BSCX
Liquidity stage 2: 577,194 BSCX or Burn (we will do voting on our community for last decision)
Airdrop: 200,000 BSCX
Why Binance Smart Chain (BSC)?
It’s simple! The high demand for the DeFi services on the Ethereum network is producing massive demand for the use of the network. This massive demand eventually translates into very high transaction fees. This makes Ethereum an unusable platform for typical day to day transactions. Furthermore, Ethereum is only capable of processing 25-30 transactions per second. This is not fast enough to handle periods of high volume. Ethereum transactions may take much longer than expected because miners have an incentive to include transactions with higher fees first. This makes it incredibly hard to create a scalable product that can be used by millions of users on the Ethereum platform.
Binance Smart Chain has much better speed and much lower transaction fees than the Ethereum network. With the support of the world’s biggest crypto exchange Binance and its CEO, Changpeng Zhao (aka CZ). The Binance Smart Chain is gaining a competitive advantage and liquidity. In the foreseeable future, the BSC will become one of the most popular blockchains of the decentralized economy.
SwapX is the key product of the BSCex ecosystem. It is similar to Binance’s Liquid Swap but much more advanced. Binance’s LiquidSwap is a centralized service that supports swapping between stablecoins and fiats while SwapX supports more stablecoin and cryptocurrency pairs. For example, SwapX users can easily swap between BUSD and USDT. SwapX will help users finding the best rate and liquidity to facilitate the transaction. On 19 December 2020, the TVL of SwapX is over 100 million dollars.
The problem of most DeFi projects launched on BSC is liquidity that causes price slippage. The price slippage is closely tied with market depth and measures the difference between the expected price of a trade and the price level arrived at after execution. High price slippage typically indicates a market is less liquid. SwapX solved the problem of lacking liquidity using our unique technology that is called Cross Liquidity Layer 2 to facilitate transactions with minimal slippage.
The BSCex Aggregating Engine will find the AMMs with the best liquidity among BSC’s AMMs to divide, match, and execute user’s orders. Most AMMs suffer from low liquidity and the big price impact (slippage) for the vast majority of transactions. Users cannot execute the order with high volume without causing a big slippage. The BSCex Aggregating Engine will divide the order into many parts and execute each part in different AMMs to lower the risk of price slippage.
For example, BSCex users want to swap 2000 BUSD to BNB. The price slippage of BakerySwap for 2000 BUSD in trading volume is 0.2%. Each $500 in trading volume will cause a 0.05% slippage in price. While PancakeSwap slippage is 0.12% and a $500 in trading volume will cause 0.105% slippage. Our BSCex Aggregating Engine will calculate and divide 2000 BUSD into two smaller orders. One order of 1363.636 BUSD is executed on PancakeSwap and another order of 636.364 BUSD is executed on BakerySwap. The total price impact/slippage is 0.097%, much lower than executing an order on just one single AMM.
In this meantime, BSCex is taking advantage of PancakeSwap liquidity for our ecosystem’s IDO. The upgraded and Cross-Liquidity Layer 2 intergrated version of BSCex will be realesed after the IDO ends.
LaunchpadX is the on-chain version of Binance exchange’s Launchpad. It is the platform for crypto startups to raise their fund through the process called IDO (Initial Dex Offering). 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 hold the liquidity provider (LP) token of the BSCX-BUSD pair.
LaunchpoolX is the on-chain 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. You get to accumulate a brand new coin, for free.
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. DexX will have full functions of a centralized exchange and many types of market orders (limit, market, stop limit, and stop market…)
Let’s Make Binance (SC) dEX great again!
Join our community:
Twitter: Bscex.org (@bscexofficial) / Twitter
Telegram channel: https://t.me/bscexann
Telegram group: https://t.me/bscextalk
Save my name, email, and website in this browser for the next time I comment.
Disclaimer: Bscex is not endorsed by, directly affiliated with, maintained, authorized, or sponsored by Binance. All products and company names are the registered trademarks of their original owners.