Recap Session of Bscex Ama Session Held at Crypto Mansion

Date: 06 Feb, 2021

Time: 2 pm UTC

Venue: https://t.me/cryptomansion

Hello All, We have recently hosted a ama session with Bscex.

The Bscex team was represented by Clark Bscex. He shared a lot about the project in Details and many information about Bscex Project.

Introduction Session

Que 1:@C_L_BSCX can you briefly introduce yourself before we proceed

C.L BSCX:
I am C.L, Business Developer from BSCex ecosystem.

together with me here today is our CEO mr. @tonybscex and our CTO mr. @clarkyi. It is our pleasure to be hear to spread the words about what we do to the Crypto Mansion Community. You are such a lively and vibrant community.

Que 2. Briefly explain to the community about Bscex and the structure behind it

C.L BSCX:
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.

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 being 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.

Que 3. What are the main usecase for Bscex token?
Currently "Staking" is a very popular topic. Can you please explain the details about the token staking plan and the benefits of adding "staking"?

C.L BSCX:
Since BSCX is our equity and governance token, the Staking of this coin can bring various benefits such as:

Farming and receiving free tokens from the reliable partners of BSCex. By farming, holders and investors can stack a passive income. Holders with sufficient amount of BSCX may win chance to buy IDO from BSCex. Suggesting constructive ideas and votings to develop and utilize the system as well as their assets. BSCX has great growing potential, holding BSCX is without doubt a good longterm investment as the token lives together with the BSCex ecosystem as a whole. Since the release of BSCX IDO, the price of the token has risen 106 times from the starting price of 0.005usd/BSCX. C.L BSCX:
Together with the farming and liquidity pool mechanism, we have achieved such growth in less than 2 months and won various ranks on Dapp Radar and BSCscan or Pancakeswap in terms of Liquidity and trading volume. To me, the numbers speak themselves.

Host:
What is the staking APY? And how is the farming passive income calculated?

C.L BSCX:
The starting APY of BSCX-BUSD was approximately 6,000% / year, reduced time to time when the number of Liquidity providers increase.
Just recently, we launched the pools for farming zSeed and the APY is 11,000% for the highest Pool

You can do simple math with APY, token Price and Block reward to do this.

Que 4. Since security of funds is paramount to users please What steps did you take to make sure the site is secured from hackers? And also how safe are the staked funds?

C.L BSCX:
Firstly, we highly appreciate the safety of investors' capital. So when the project started, it went through internal audits from a team that had experience doing Dapps projects since the day ethereum launched solidity. Then there is an external audit from important security partners like verychain, halborn . Since the Staked Funds and Pools are all created using Blockchain technology, the funds are safe from security breaches.

Que 5. What are the risk management policies that Bscx uses to safeguard the investments and credits granted by its platform? How do you really ensure that there is a backup base to rely on in the face of any situation or sudden change in the commercial markets?

C.L BSCX:
As mentioned above, Our project went through internal audits from a team that had experience doing Dapps projects. This ensures that our system performs well under all conditions and meets every international requirements there are.

Since all assets and products of BSCex are all decentralized, the likeliness of hacking and security breaches is extremely low.

Therefore the staked funds are well-protected by our procedures and technical advantages of blockchain technology.

Que 6. In the world cryptocurrency competition, features are of the utmost importance to attract investors and the community! Can you provide a list of killer features that scare your competitors over your project?

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.
This is the foundation technology for our products such as:

SwapX: the key product of the BSCex ecosystem. It is similar to Binance’s Liquid Swap but much more advanced

LaunchpadX: 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)

LaunchpoolX: 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. as well as the products to be released in near future.

Que 6. Regarding Bscex token, Do you have any option for token burn/buyback systems in order to increase and ensure the value of the Token & attract Investors to invest?

C.L BSCX:
Since BSCX token is designed to be the developing instrument of BSCEX Ecosystem, sustainability and stability are highly prioritized. Therefore, the 75% lock of BSCX farming serves as a guarantee benefiting both the Ecosystem itself and the holders of BSCX. By having most of new BSCX locked in the pools, the price and liquidity of BSCX is protected from the risk of having too many people cashing out simultaneously, which might result in a big dump to the token and later affect the whole ecosystem. With a farming pool enabled to ensure the liquidity of tokens as well as its own safety in a determined period of time, investors can farm without the fear of an unexpected dump might affect their profit. This is the feature making BSCX pools potential and attractive to new investors. The cash flow of new investors shall expand the pools and the continuous flow of new funds prolongs the vitality of the liquidity pools. After 1 year, the locked amount of BSCX shall be returned to the Liquidity provider’s wallet address as 10% monthly bonus until all the BSCX locked is returned. In other word, all the BSCX farmed shall be returned to the farmers, but the 1 locking year makes BSCX a great mid-term and long-term investment; as the Dev team always have the funds needed to develop the Ecosystem whilst early farmers have chance to benefit from bigger growth in the future. In conclusion, rather than a redundant requirement, the feature of locking 75% new BSCX for 1 year should be perceived as a smart and benefiting solution to the BSCEX Ecosystem and all participants. Recently, our community voted to burn 90% of total supply of BSCX and this movement has been approved and executed by our team, which leaves the total supply of BSCX merely 10,005,576.776642 BSCX. In addition, BSCX shall be the equity of our ecosystem and shall have various uses in the future. We believe that these factors will create a huge demand for BSCX and due to Scarcity, the price of BSCX is flying high in the future. Not to mention now that the farming for new BSCX is over, there’s no way to farm for new BSCX. The 75% locked amount of Harvesting BSCX is ensuring the liquidity of BSCX and the Vital of the token.

Que 8. With the ongoing bans on Cryptocurrencies by some countries. What are your plans to ensure that your project is globally accepted

C.L BSCX:
Since always, the Ponzi models and trash projects have been the fear of all investors and the main reason why cryptocurrrency have been critically viewed. However, the current economic situations have proven that we have been living too dependent on an unsustainable economic system. We might not be able to change the critical views toward cryptocurrency but what we can do is to build a sustainable decentralized ecosystem as well as an active and reliable community for the DeFi enthusiasts. We believe that our work shall bring more control right for capital owners to their assets. In our vision, serving the community has always been the top priority. Thus, as our community grow and become global, BSCex shall be globally accepted.

What we do is simple work for the community and grow with the community.

Segment-2 (Twitter Session)

Que1. By @Victoria20kBTC

the BscExSwap Suite makes easier for users to navigate the crypto markets with profitability and privacy. How extense would be this navigation, can we acceed to all CEX and DEX from BscExSwap anonymously?

C.L BSCX:
Yes you can.

Our products are designed so that using them will be as easy as possible. Therefore, to connect to our products like SwapX or LaunchPool, you only need to connect your Crypto E-wallet address to use our applications. No identity registration is required in the proccess. Soon, we will be launching our DexX, this should be the one products to give traders and investors enjoy a full trading experience with our Platform.

Que 2. By @abangpiscok1

What was the biggest milestone your project has? What is plan in the future ?These last few days I have monitored $BSCEX and it has a considerable increase, do you think that is due?what makes it so good every day?

C.L BSCX:
To be honest, all milestones are essentially important to us, so choosing the biggest one might be really hard. However, from our insight the greatest thing we found in our work is that the public community is accepting our Project more and more. The recent increase of BSCX in price and liquidity is without doubt the evidence that we are gaining more and more trust from investors and individuals in the crypto world. To our believes, these achievements were gained by applying blockchain technology in a creative and practical way to bring great benefits to our investors and members. Choosing to serve and grow with our community seems to be the right call.

Que 3. By @kerala_crypto

DEX exchanges make it expensive and complicated for traders to execute commission transactions, and BscEx Dex is a decentralized exchange and is understated Bscx so what solutions are provided here?

C.L BSCX:
As mentioned earlier, our core technology is Cross Liquidity Layer 2. This is also what makes our SwapX product really practical and valuable to any users.

he 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.

Que 4. @Cryptokratos7

Burning tokens are good for the project, every project burn their tokens. BSCEX project is not an old one, it's fresh.But why did you choose to burn 90% token as in this early stage?

C.L BSCX:
It was not our call to make actually. Since our vision is to make this ecosystem as close to the community as possible, we tried to make our system more democratic by introducing http://governance.bscex.org/

with this products, holders of BSCex can suggest their ideas to create Voting pools to improve the system. The Share of Pool each holder has will represent their voting power. The burning of 90% BSCX was a valid vote that received major approval from our community. Therefore after considering all pros and cons, we made it official.

Que 5. By @Fayyasvh

What about the credentials and experience of BSCEX team ?

C.L BSCX:
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. This create the vitality for our project as our team consists of various different perspectives and work experience. The external partners of BSCex also play important roles as they represent the appearance and credential of our projects. in term of Security and Auditing, we have: Halborn and VeryChain In term of strategy, we have PancakeSwap, DITTO, FUEL and other siblings projects on BSC network.We believe that such network of core members and strategic partners is sufficient to help BSCex expand.

Segment-3 (Live Session)

Que 1: When was the first IDO on BSCx? What token will be the first on the IDO? How to join And how sure are you that the first IDO will be successfully implemented?

C.L BSCX:
the first IDO on BSCex was BSCX token at the starting price of 0.05usd/BSCX

For the next IDOs, to make sure that it’s fair for everyone, we can only disclose this information in accordance with our marketing on our social channels. Since BSCX has risen 106 times since IDO and we only work with and provide IDO from real projects and reliable partners, it is without doubt that any IDO on our platform shall make remarkable growth. Thus, be socially active to us for fruitful announcements.

Que 2: Why Choose BSCX Exchange? Can you list the main features of BSCX Exchange that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?

The trading functions might be similar from platform to platform, but how to utilize the resources to give users a better trading experience is what makes the game change. To us, we are confident that our unique technology of Cross Liquidity Layer 2 will give us a great advantage comparing to other Exchanges, centralized or decentralized.

Que 3: You’ve just said, that serving the community has always been the top priority. I think this is great start for build a strong project.
So, as BSCEX supporter, what can we do to help bring the masses to the project? As me personally, may I write an article about BSCEX on my Reddit or Steemit or my other social media? of course with requesting your permition first sir
Thank you

To us, all constructive opinions are highly welcomed. As BSCex supporters, we hope that every member can receive the most from us and our products to later share your believes and let the world know about us from your true experience.

Que 4: What is the Zseed? How do I buy it and why is there Zseed in Bscx discussion?

zSeed is the token of Sowing Network, our strategic partner. As their token is 100% community driven, after BSCX farming ended we chose Sowing Network and their zSeed to be the reward of our Liquidity Farming Pools. This is why days ago when BSCX farming was ending, zSeed made quite some discussions in our community. Now you can buy zSeed on SwapX and provide liquidity for our trading pairs to earn passive income.

Que 5:
1-Increasing Token price
2- make Token Valuable
3-Building Community Trust

From 3 aspects above,. I want to ask,. Which one the most important for you?? If all above are important for you,. Which one that Will you do first??

To us, the 3 mentioned factors are equally important as these elements supplement each other. However, to Increase the token price, we need community trust but we can not gain community trust without real values.

Get Connected with Bscex for more Updates:

Website: http://bscex.org/

Twitter: https://twitter.com/bscexofficial

Telegram: https://t.me/bscextalk

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