CRYPTO SYZYGY CHATBOX : Telegram AMA Session with BSCEX

AMA on Monday, March 8th at 2 PM UTC

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We were so pleased to host our Telegram AMA session with BSCEX where we gave you the chance to ask the team anything you liked. And you certainly delivered!

Summary of the AMA

  • Team and Project Intros
  • Questions and Answers

Team Introduction

C.L. : We officially launched the IDO of BSCX token and started this ecosystem on 21 December 2020. This project is the long term work of a team consists of about 50 individuals of different races and regions. we work online most of the time 24/7. You can say that most of our head quarters are online lol.

King : Fantastic! So I can say there is no head office rather it is also decentralized😉.

C.L. : yes

King : Cool one more quick question from my side then we open up for community.

C.L. : we are quite the definition of decentralization itself.

King : Great that’s what I thought. Ok so I was going through your website and you are planning to launch your own dex if I am correct then why the name is BSCEX lol.

C.L. : “BSCex is a decentralized non-custodial cryptocurrency exchange-centered ecosystem that runs on Binance Smart Chain (BSC)” This is the definition that we currently using to describe our project.

King : Great! I read it a little differently like a CEX, anyways shall we open up for the community now?

C.L. : At the beginning of our project, our idea was to create a sustainable economic ecosystem by the help of blockchain technology. We tried to figure out the name of the project by describing our project in different adjectives to match our initial idea. The words chosen is:
B — big
S — safe
C — Community
ex — exchange/extreme

This describe BSCex as: an extremely big and safe Comunity exchange

As 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

King : Wow. Nicely abbreviated. It sort of syncs with Binance Smart Chain(BSC) too

C.L. : The BSCex name fits our vision to work for the community and grow with the community; as well as BSC in Binance Smart Chain network, the platform we build our system on.

King : As you can see, the name fits us every way. Absolutely!

Shall we open up for the community round. We will have 2 rounds of 30 seconds each.

Community Q & A Round 1

Q1. Apart from AMA What other marketing strategy are you having in kind to putting in place to aid project development and growth. How do you intend to attract local communities?

C.L. : On one hand, we do other channels like twitter, github, telegram updates, just like any other crypto projects. On the other hand, what we focus on mostly is to perfecting our products and referral campaigns.

The Idea is that BSCex is a sustainable ecosystem that allows users to profit the most from the least fund. That is why we create an ecosystem of products working different functions but supplement each other to give users the best trading experience and the most profit.

By mainly focusing on our products, we make community support available 24/7 for users to gain the most from BSCex. After our members have filled their pocket, they have a good understanding of our products and how to use them.

Wow that’s quite a comprehensive piece of info.

C.L. : After that, we create the referral programs to help users earn even more from BSCex and create a sustainable connection.

Therefore we have a lot of winning investors to help us expand our system.

This is the current Spring referral program we are currently deploying
https://bscex.org/referral-trading-challenges/

all the projects chosen for the series are all top coins and projects on BSC network with high liquidity. By the time we distributed the CAKE reward, the price accounted for $35,000. as you can see, working for the community and growing with the community. Pretty awesome and quite an elaborate explanation :).

Q2. What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships?

C.L. : It is true that our aim is to be a global decentralized economic ecosystem, especially since everyone deserve wealth and blockchain tech can help with that. However, our method is not focusing our media to expand the reach of our project. Instead, what we have been focusing on is to perfecting our products to increase real demands for our products.

We currently have:
1, SwapX: the key product of the BSCex ecosystem. It is similar to Binance’s Liquid Swap but much more advanced.
2, LaunchpadX : the platform for crypto startups to raise their fund through the process called IDO (Initial Dex Offering)
3, LaunchpoolX is the on-chain version of Binance exchange’s Launchpool. LaunchpoolX helps you generate passive income
4, DexX: a product to be released in the near future

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 same technology shall help us create a DexX capable of providing the best swap rate for every trades. With this much of financial benefits, we believe that the community shall reach us for the best services.

Community Q & A Round 2

Q3. I have heard that It is possible for BSCX to reach $500 or more. Is that true? How is that possible?

You could understand that BSCex ecosystem is the body while the BSCX token is the soul. Their existence depends on each other. SInce BSCX token is the governance token and equity of BSCex ecosystem, the token is used to unlocked and purchase various profitable services on BSCX.

After 90% total supply of BSCX was voted to be burned by our community, the token became very limited. As BSCex’s products and services are increasing, their shall be more demand for BSCX token in the future and cause its price to increase. Currently, one of our most profitable service is IDO on LaunchpadX.

Since BSCX x240 times after IDO and our last IDO token x80 after first night, IDOs on LaunchpadX has been very potential and seeked by a lot of investors.

In order to get the slot to buy IDO, you have to lock BSCX token. Once you have won your spot to buy IDO, you shall have to use BSCX to buy IDO. This shall make BSCX token used more and more to increase in the future.

Q4. Most users only care about immediate benefits rather than the real value of the project in the long-term. How can Your Project convince users invest to your platform in the long-term?

C.L. : We do it with numbers, real numbers

This is the operational model of our AMM+ technology

The BSCex Aggregating Engine will find the AMMs with the best liquidity among BSC’s AMMs to divide, match, and execute user 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. This is fast, real and visible to any service users and this is the short term benefit we could provide.

The Idea is that BSCex is built to be a sustainable ecosystem and in order to achieve the sustainability, we made sure that our system is capable of bringing the best experience for all kinds of users.

Community Q & A Round 3

Q5. Auditing plays an important intermediate role in the development of applications. What audit methods has #BSCEX applied in project development? Can you talk more about it?

C.L. : I’m not a tech expert so I might not be able to give a very specific answer for this question. What I know is that our project’s smart contract has been audited many rounds internally by our dev team, and externally by well-known partners like Certik, VeryChain, Halborn and Defi Yield. Technically speaking, we are qualified to meet any internation standards to be a legit project.

Q6. How was the idea to create this project born? It is very interesting. What do you want to prove? What are your expectations?

C.L. : It is well known and currently acknowledged that we are all living in an unsustainable and unstable centralized — economy. Unsustainable exploitations of natural resources alter our environmental conditions whilst social monetary values are controlled by people and institutions that don’t care about the well-being of others more than themselves. All of this made us came to a common conclusion: it is time for a change. BSCEX’ s team consists of individuals from different continents, nations, races and colors with the similar goal of building a sustainable and stable economic Ecosystem for everyone by the help of blockchain technology and decentralized finance. We might be all different but under the same ideal, we all work for the world to be a better place.

Our team started firstly as a group of mixed and random people across the world. We all have our different stories but the global pain from our Central economic is quite similar anywhere.

we wanted to create a sustainable economic ecosystem that everyone can benefit from and this is the core belief that started BSCex. After 3 years of hard work, I’m glad that we are here.

Now the session ends with lots of thanks to our Guest Speaker…

Here are some important links of BSCEX

Website | Telegram |Twitter| Crypto King

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