Introduction
BinaryX ($BNX) is more than just a cryptocurrency; it's the heartbeat of the BinaryX ecosystem that includes a decentralized autonomous organization (DAO) and an extensive portfolio of innovative games. Initially launching as a decentralized derivative trading platform, BinaryX pivoted towards the burgeoning GameFi sector, recognizing the rising interest in blockchain-based metaverse games. Today, BinaryX stands as a comprehensive GameFi platform, offering Initial Game Offerings (IGO) to seamlessly transition Web2 developers into the Web3 domain. With its robust support infrastructure, DAO governance, and vibrant community, BinaryX is poised to reshape the blockchain gaming landscape.
What is BinaryX ($BNX)?
BinaryX ($BNX) is the native cryptocurrency of the BinaryX ecosystem, which encompasses the DAO and all products and games utilizing $BNX. Initially, BinaryX started as a decentralized derivative trading system. However, recognizing the growing popularity of GameFi and the increasing interest in metaverse games, the team gradually shifted its focus towards developing decentralized video games. Today, BinaryX has fully transitioned into a GameFi platform that offers IGO services, aiming to bridge the gap between Web2 developers and the Web3 world.
BinaryX provides a range of services, including infrastructural support, a DAO governance system, and community-building initiatives. These services are designed to scale promising GameFi projects and foster innovation within the blockchain gaming sector.
Who Are the Founders of BinaryX?
Despite the backing from Binance Labs, the developers behind BinaryX remain anonymous. However, in an interview with Binance, the team revealed that they consist of individuals from diverse international backgrounds and include several senior blockchain experts. The team members purportedly have experience in building both centralized and decentralized exchanges and have managed derivative assets exceeding $100 million.
What Makes BinaryX Unique?
The developer team at BinaryX aims to redefine gaming within the GameFi industry. Their primary focus is to create a sustainable economic model for their games, building upon the existing ecosystem and introducing more engaging gaming experiences.
As a GameFi platform, BinaryX has developed popular games like CyberDragon and CyberArena, both of which are top games on the BNB Chain. In September 2022, BinaryX launched CyberChess, an auto-battler strategy game inspired by Autochess. CyberChess features a more structured gameplay, enhanced playability, and the most comprehensive mechanism of any game developed by BinaryX. This game marks the transition from play-to-earn (P2E) to a free-to-play, play-and-earn model.
To further solidify its position in the GameFi industry, BinaryX is evolving into an IGO platform that offers a comprehensive suite of solutions to incubate, enable, and empower aspiring GameFi developers. This includes providing tailored resources for developers facing challenges in their project runway. At the time of writing, BinaryX has launched its first IGO project, SHIT IGO, with more IGOs in the pipeline.
For more information about BinaryX and their games, please visit www.binaryx.pro.
How Many BinaryX (BNX) Coins Are There in Circulation?
BinaryX provides limited information about its tokenomics on its website. According to public sources, BNX has a maximum supply of 21 million tokens. Tokens obtained during the genesis mining event automatically receive lock-up dividends. After the mining period, rewards are unlocked. The distribution of BNX tokens is as follows:
- 33.33%: Genesis mining reward
- 26.67%: Initial BNX/BUSD trading pair liquidity
- 30%: Marketing and LP Reward Reserve
- 10%: Team
However, there is no information provided about vesting periods. The circulating supply at the time of writing is just over 2 million BNX.
How Is the BinaryX Network Secured?
BNX is a BEP-20 token on the Binance Smart Chain. BNX was audited by Certik and received an excellent security score of 83. In an interview, the BinaryX team stated that they chose Binance Smart Chain due to its lower costs, faster confirmations, and greater chain bandwidth, which are all essential for an MMORPG game.
The Binance Smart Chain (BSC) is secured through the proof-of-stake consensus mechanism. Every 24 hours, 21 validators are elected to validate transactions and maintain blockchain security. These validators must stake a certain amount of BNB coins with Binance to be eligible.
Where Can You Buy BinaryX (BNX)?
BNX is available on several major exchanges, including:
Token Market Data
As of the latest data, here are some key statistics for BinaryX (BNX):
- Current Price: $0.4335
- Market Cap: $152,611,766.32
- 24h Price Change: 8.88%
- 7d Price Change: 24.42%
- 30d Price Change: 54.71%
- 24h High: $0.4599
- 24h Low: $0.3978
- All-Time High: $1.8356 (2023-02-24T10:10:00.000Z)
- All-Time Low: $0.1715 (2023-08-17T21:46:00.000Z)
- Circulating Supply: 352,061,351.88
- Total Supply: 549,462,479.98
Related Pages
For those interested in exploring more about GameFi and related projects, here are some recommendations:
- Check out Crabada (CRA) — a crab-themed play-to-earn game on Avalanche.
- Explore Axie Infinity (AXS) — the biggest play-to-earn hit thus far.
- Read our top free play-to-earn games in 2021.
- Get the latest crypto news and trading insights with the CoinMarketCap blog.
Conclusion
BinaryX is not just another player in the blockchain gaming sector; it is a pioneer that is actively shaping the future of GameFi. By offering a robust platform that
