BinaryX ($BNX) serves as the native cryptocurrency for the entire BinaryX ecosystem, which encompasses the DAO and all the products and games that make use of $BNX. Initially, BinaryX started as a system for decentralized derivatives trading. However, seeing the rising interest in GameFi and metaverse gaming, the team shifted focus and gradually moved into developing decentralized video games. Now, BinaryX is fully positioning itself as a GameFi platform, offering IGO services to connect Web2 developers with the Web3 world.
Among the services BinaryX offers are infrastructure support, a DAO governance framework, and community-building initiatives aimed at scaling up promising GameFi projects and driving innovation within the blockchain gaming sector.
Who Are the Founders of BinaryX?
Although Binance Labs is a supporter of the project, the creators of BinaryX remain anonymous. In an interview with Binance, it was disclosed that the team comprises individuals from diverse international backgrounds and includes several senior blockchain specialists.
Reportedly, the team members have previously worked on developing both centralized and decentralized exchanges and have experience managing derivative assets valued at over $100 million.
What makes BinaryX Unique?
The BinaryX development team is focused on transforming the landscape of gaming within the GameFi industry. Their main objective is to establish a sustainable economic framework for their games, enhancing the existing ecosystem and delivering more enjoyable gaming experiences.
As a GameFi platform, BinaryX has successfully launched games like CyberDragon and CyberArena, which are among the leading titles on the BNB Chain.
In September 2022, BinaryX introduced CyberChess, an auto-battle strategy game inspired by Autochess. CyberChess features a more robust structure, improved playability, and the most comprehensive game mechanism BinaryX has developed, marking a shift from play-to-earn (P2E) to a free-to-play, play-and-earn model.
In its effort to further cement its place in the GameFi sector, BinaryX is transitioning into an IGO platform that offers extensive solutions to support, enable, and empower emerging GameFi developers. This includes providing enhanced and customized resources for developers facing challenges in their project development. At the time of writing, BinaryX has launched its inaugural IGO project, SHIT IGO, with more to follow.
For additional details about BinaryX and their games, visit www.binaryx.pro
How Many BinaryX (BNX) Coins Are There in Circulation?
BinaryX offers minimal information about its tokenomics on its website. Publicly available data indicates that BNX has a maximum supply cap of 21 million tokens. Tokens acquired during the initial mining event automatically gain lock-up dividends, with rewards unlocking once the mining phase concludes. The distribution of BNX is as follows:
* 33.33% for genesis mining rewards
* 26.67% allocated to initial BNX/BUSD trading pair liquidity
* 30% reserved for marketing and LP rewards
* 10% allotted to the team
Details regarding vesting periods have not been disclosed. As of now, the circulating supply stands at just over 2 million BNX.
How Is the BinaryX Network Secured?
BNX is a BEP-20 token operating on the Binance Smart Chain (BSC). It underwent an audit by Certik, earning a high security score of 83. In a discussion, the BinaryX team explained their choice of BSC was due to its lower transaction costs, faster confirmation times, and greater bandwidth, all crucial for supporting an MMORPG.
The Binance Smart Chain is secured using a proof-of-stake consensus method. Each day, 21 validators are selected to process transactions and uphold the security of the blockchain. These validators must stake a specified amount of BNB tokens with Binance to qualify.
Where Can You Buy BinaryX (BNX)?
You can purchase BNX on exchanges like Binance, Mandala Exchange, ZT, Gate.io, and CoinW.
