AMA Recap 404 Daily Crypto with LaunchZone
Hello 404 Daily Crypto Community
On 15th April 2021, LaunchZone (Aka. Bscex) conducted an AMA in the 404 Daily Crypto. Our guest is Patrick, BD of LaunchZone — Core member.
Lots of questions as usual from the Community about LaunchZone progress. The LaunchZone team took part in a very interesting AMA session which included Project introduction and a live AMA session with the 404 Daily Crypto community. If you missed the AMA in person, read this recap for a deeper insight into LaunchZone.
Let’s take a look at the most interesting points of our conversation.
📍Session 1 » Project Introduction
Can you introduce yourself and your team please? We want get to know you and your team. What you did before crypto, and how you got into crypto?
Patrick BM _LaunchZone: I’m Patrick — BD of LaunchZone — Core member. It is well known and currently acknowledged that we are all living in an unsustainable and unstable centralized — economy.
Our core members are business experts and technical specialists of different races and nationalities. Some of our team members worked in Kyber, Elastos and other defi projects.
The forming of LaunchZone core team consists of different stories. To me personally, I was lucky to meet our CEO Tony 3 years ago after burning my first trading account. For a newbie in the crypto world
The use of exchanges alone was once too complicated for me so I lost my account even before I realised. This is when Clark (our CTO) and Tony told me their vision for the early LaunchZone ecosystem and invited me to work under their wings. Now I work as the Business Developer for LaunchZone and that is why we are here today!
Can you briefly describe what is Launchzone (BSCEX)? We would like to know more about it and how it works.
Patrick BM _LaunchZone: Ofcouse. In December 2020, we launched LaunchZone Ecosystem, a decentralized non-custodial cryptocurrency exchange-centered ecosystem that runs on Binance Smart Chain (BSC).
We have released many products such as SwapX, LaunchPoolX, and recently LaunchPadX on our Ecosystem.
Our 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.
Our business has experienced explosive growth in demand for our crypto services (LaunchPoolX, SwapX, and LaunchPadX) in the past 3 months. Many startups and partners have partnered and launched on our platform.
How was the idea to create this project born? It is very interesting. What do you want to achieve?What are your expectations?
Patrick BM _LaunchZone: 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 come to a common conclusion: it is time for a change.
LaunchZone 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.
We plan to complete all our products and expand our community simultaneously. In this period, we are trying to prove to the world what our technology is capable of and how DeFi is the solution for financial freedom. To do this, we launched our first products including
- SwapX
- PoolX
- PadX
How has the experience and background of your team been effective in the success of your project so far?
Patrick BM _LaunchZone: 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.
Anytime you send $BSCX, 5% will be burned. (Not yet activated, we will let the community make the final decision) 20% of the total $BSCX raised in future IDOs will be burned. (Community will make the final decision)
Can you explain in more detail regarding Cross Liquidity Layer 2? How does this unique technology work?
Patrick BM _LaunchZone: Cross Liquidity Layer 2 to facilitate transactions with minimal slippage. For example, LaunchZone 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. (SwapX sample swap)
Can you give an overview of $BSCX Token tokenomics? Will the design of the token rise and fall with the success of the platform,does it include any scarce paths,such as equity, storage or burning?
Patrick BM _LaunchZone:
Name: LaunchZone token
Symbol: $BSCX
Network: Binance Smart Chain
Spec: BEP-20
Precision: 18
Smart Contract Address: 0x5ac52ee5b2a633895292ff6d8a89bb9190451587
Token Allocation
Total Supply: 9,983,396 $BSCX
Farming: 7,983,396 $BSCX (75% locked for 1 year)
IDO: 2,000,000 BSCX
Liquidity stage 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
Deflationary Mechanics
Anytime you send $BSCX, 5% will be burned. (Not yet activated, we will let the community make the final decision)
20% of the total $BSCX raised in future IDOs will be burned. (Community will make the final decision)
Locking Mechanics
PoolX: 80% farmed tokens will be distributed to participants,25% of them will be distributed to participants instantaneously
75% of them will be locked for 1 year and will be distributed continuously block by block after that 1 year
20% farmed tokens will be distributed to our platform development fund (25% of them will be distributed to the fund instantaneously, 75% of them will be locked for 1 year and will be distributed continuously block by block after that 1 year)
PadX: BSCX locked in 6 months.
Update: The BSCX token is a reward for using the LaunchZone Ecosystem and a governance token of our decentralized system on Binance Smart Chain
This sophisticated token architecture will create a virtuous circle in which users benefit from use. The system will be marking the most efficient and benevolent structure to ever hit the market
This part “community will make the final decision” how do we eligible to take a part to participate in voting?. Do we need to hold some portion of $BSCX?
very detailed tokenomics. so the community will know about it. I want to ask about IDO, when will it be done? Can you provide details about IDO?
Patrick BM _LaunchZone: Our users are very important to us, as we want our users to benefit as LaunchZone grows as a project. Thus, LaunchPad was designed to maximize the benefits of BSCX holders.
By locking your BSCX, you will have the chance to win a lucky star (100 BSCX = 1 ticket). This is applicable to all IDOs that take place in the period of 6 months after you lock your BSCX. Furthermore, you will be able to earn airdrops if you don’t win the lucky star.
SwapX is a Dapp that allows users to Swap Crypto tokens with the easiest steps and highest monetary security. PoolX contain liquidity Farming Pools with great APY for users to generate their passive income. PadX is a Dapp for members to buy IDO.
SwapX, PoolX and PadX are parts of the LaunchZone ecosystem, each has a different function. But the connection that they share is to increase the liquidity and volume of all tokens that are listed. We not only aim for the growth of LaunchZone and BSCX, but also the growth of other the great projects in the BSC ecosystem, and we believe that by working together, we can help make BSC even bigger and stronger
All projects who want to partner up with LaunchZone to launch their IDO on PadX must complete a form with different questions that can help the LaunchZone team understand more about the concepts, visions and missions of their projects
Then, these applications will go through a very strict review process, and our team will look into the credibility, applicability and potential of each project. LaunchZone team will eliminate all projects that seem not trustworthy.
What is the plan Launchzone (BSCex) to ensure sufficient liquidity on exchanges to fill market orders, especially as adoption increases and clients begin multiplying year-over-year ?
Patrick BM _LaunchZone: As more AMM aggregrators launch on BSC
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.
For example:
As I said above, LaunchZone users want to swap 2000 BUSD to BNB. The price slippage of BakerySwap for 2000 BUSD in trading volume is 0.2%.
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. Tthe otal price impact/slippage is 0.097%, much lower than executing an order on just one single AMM
📍 Session 2» Community Questions (Live AMA)
Telegram User @Minskbeta
What if I lock $BSCX and not get the lucky star?
Patrick BM _LaunchZone: Our users are very important to us, as we want our users to benefit as LaunchZone grows as a project. Thus, LaunchPad was designed to maximize the benefits of BSCX holders.
By locking your BSCX, you will have the chance to win a lucky star (100 BSCX = 1 ticket). This is applicable to all IDOs that take place in the period of 6 months after you lock your BSCX. Furthermore, you will be able to earn airdrops if you don’t win the lucky star.
Telegram User @annd0797
What are your long term and short term marketing plans?
Patrick BM _LaunchZone: In the near future, we are launching our next products, DexX. DexX is a decentralized crypto exchange which has full functions of a centralized exchange.
This plan is set as we wanted to, and our vision for LaunchZone is being able to serve everyone, fully decentralized and users get to control their own assets.
Every product from the LaunchZone ecosystem are designed with this vision in mind, from the simple interface products like SwapX for new investors and holders to trade their assets at ease; to the fully functional exchange DexX for professional traders to have more options in their trading; as well as products like LaunchpoolX and LaunchpadX for everyone to generate their passive income and find good opportunities to multiply their asset.
Telegram User @ngarokkauni
What’s your role in the crypto market, I mean how users get benefits from investing in LaunchZone?
Patrick BM _LaunchZone: LaunchZone is an ecosystem connecting investors and project incubators. As you can see, we have poolx, padx, swapx and many more products in the future. Padx is for listing prominent projects for IDO on our ecosystem, the new projects get benefits from the ecosystem of $BSCX and provide investors opportunities to buy coin at IDO price. All of listed projects are carefully checked by our team via our strict standards. Poolx and Swapx are for providing liquidity for IDO projects’ tokens and as mentioned, provide the trading services on BSC with low slippage. Even free traders can get benefits from us by joining pools with ref links
Telegram User @Ironpk123
Is this platform suitable for Crypto beginners?Or does it only appeal to professional users?
Patrick BM _LaunchZone: As mention above, one of LaunchZone’s main goal is being able to serve everyone, from new investors to experienced traders. Hence, we developed a range of products, each has a different use and serves different needs. Our telegroup group @bscextalk is a place where investors and learn more about the project, get new updates and share their experience in the crypto market. We also have a detailed list of step-to-step guide on how to swap, trade, yield farm, etc. on SwapX, PoolX and PadX on our website launchzone.org, which can be very helpful for new investors
Telegram User @tamannas10
Ethereum fees have been skyrocketing lately. Does LaunchZone any plans to lower fees and move to a layer two solution to help with Scalability?
Patrick BM _LaunchZone: 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.
Thank you for answering questions from our community. Before the end of the AMA, maybe you want to say something to our community?
Patrick BM _LaunchZone: Abosolutely. Thank you everyone for giving me the opportunity to be here and answer and answer your questions about our project. We are always happy to serve you guys. Much apprecited 🙏
For more information and future AMA, join our Social Media channels:
► 404 Daily Crypto Group: https://t.me/DailyCrypto404
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📍 More information on LaunchZone:
❇️ Website: https://launchzone.org/
❇️ Telegram: https://t.me/bscextalk
❇️ Telegram ANN: https://t.me/bscexann
