What is BSCEX (BSCX) | What is BSCEX token

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.

Question 1: What is BSCex token?

BSCex token ticker is BSCX. BSCX token is a passive income for depositors who provide liquidity to the market.

Question 2: What is the total supply of BSCX?

Total Supply: 100,000,000 BSCX

Farming: 96,800,000 BSCX

IDO: 2,000,000 BSCX

Question 3: Which wallet can I connect with BSCex?

Currently, we are supporting the following wallets:

Metamask
ezDeFi
Binance Chain Wallet
WalletConnect
Coinbase Wallet
Fortmatic
Portis

Question 4: How do I swap with BSCex?

You can start swapping on BSCex by accessing the SwapX page and choose the tokens, along with the amount that you would like to swap. For detailed instructions, you can check out our docs.

SwapX page: https://swap.bscex.org/#/swap,

BSCex docs: https://bscex.org/docs/

Question 5: How do I farm on BSCex?

Farming requires staking LP tokens. These tokens can be obtained through providing liquidity to a listed pool. Then you choose a pool to stake your LP tokens and the amount that you would like to stake. You can check out our docs for more instructions.

LaunchpoolX page: https://launchpoolx.bscex.org

BSCex docs: https://bscex.org/docs/

Question 6: How do I connect my wallet to PancakeSwap?

In order to connect your wallet you have to click on the “Unlock Wallet” button on the top-right corner of the page. After that, look for the wallet you want to connect to BSCex and click “connect”. Approve the connection and you’re good to go.

Question 7: Why is 75% of new BSCX locked for 1 year after Harvesting?

Since BSCX token is designed to be the developing instrument of BSCEX Ecosystem, sustainability and stability are highly prioritized. Therefore, the 75% lock 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.

Question 8: Who is behind BSCEX?

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.

Question 9: Why are the group chats of BSCEX having so many poor – English users?

As mentioned earlier, the team of BSCEX consists of people from all different parts of the world, the members of BSCEX communities also are from different parts of the globe. Therefore, to the members not from English-speaking countries, communication is not always the easiest task. Despite that, we wanted to keep our groups and communities this way as creating a healthy economic Ecosystem for everyone regardless of their nationality, race or color has always been our ultimate purpose. No matter where you are from, once coming to BSCEX community, you shall be well informed and supported as a friend. A sustainable and healthy economy is for everyone and takes everyone joining hands to create. Come to us and BSCEX Ecosystem and together, we can create a brighter future.

Introduction and Tokenomics

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.

Token Specification

Name: BSCX token

Symbol: $BSCX

Network: Binance Smart Chain

Spec: BEP-20

Precision: 18

Smart Contract Address: 0x5ac52ee5b2a633895292ff6d8a89bb9190451587

Token Allocation

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.

**Community **

Official Community

Twitter: (20) Bscex.org (@bscexofficial) / Twitter
Telegram Channel: https://t.me/bscexann
Telegram Group: https://t.me/bscextalk

SwapX

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

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

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

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…)

source : https://www.youtube.com/watch?v=7dIwampB5ws

How and Where to Buy BSCX ?

BSCX has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy BSCX

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)

☞ SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

Next step - Transfer your cryptos to an Altcoin Exchange

Since BSCX is an altcoin we need to transfer our coins to an exchange that BSCX can be traded. Below is a list of exchanges that offers to trade BSCX in various market pairs, head to their websites and register for an account.

Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase BSCX from the exchange.

Exchange: PancakeSwap and JulSwap

Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once BSCX gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

☞ Binance ☞ Bittrex ☞ Poloniex ☞ Bitfinex ☞ Huobi ☞ MXC ☞ ProBIT ☞ Gate.io ☞ Coinbase

Find more information BSCX

☞ Website ☞ Explorer ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Social Channel 3 ☞ Message Board ☞ Documentation ☞ Coinmarketcap

Thank for visiting and reading this article! I’m highly appreciate your actions! Please share if you liked it!

#cryptocurrency #bitcoin #bscex #bscx

What is BSCEX (BSCX) | What is BSCEX token | What is BSCX token

How and Where to Buy BSCX ?