

A composite DeFi ecosystem that integrates DEX, IMO, and DAO.
Andrew (BSC.News):
Hello everyone and welcome to the AMA with MDEX! Today we have the CMO of MDEX, Kiko joining us today
Pleasure to have you here @mdexKiko2021
MDEX:
Hello everyone!
Great to be here
Andrew (BSC.News):
Well, it's great to have you here 🙂
So how this will work is, the AMA will consist of two rounds. The first round will be us going through the questions that I had prepared for you before hand. And then the second round will be a community round where I will open up the room to allow questions to come in. The second round is also where we will select the two winners of our giveaway
Sound good?
MDEX:
Perfect
Andrew (BSC.News):
Okay so to start things off
1. Can you tell us about your background, what led to the creation of MDEX?
MDEX:
Hi, I am Kiko, the CMO of Mdex. I have been in the crypto market for 3 years. I have extensive experience in the Crypto industry particularly in DeFi.
MDEX is an exciting and innovative project on the market that has made significant strides over a short period of time compared to its peers. After getting into the crypto industry, I never looked back and my goal is to explore as much about this field as I can.
Andrew (BSC.News):
Yes well it's a very exciting industry and from my knowledge, MDEX has been playing a big role in the future developments of DeFi
So let's talk about them
2. What is MDEX? What inherent problem/issue are you trying to solve in BSC?
MDEX:
The concept of DeFi has already launched in the market in 2018. But at that time, DeFi did not arouse huge attention from people and many users did not understand the actual benefits DeFi can bring. Until the popularity of Uniswap rising fast in a short time in 2020, a large number of users began to pay attention to DEX, and then have deep impression on DeFi. However, the skyrocketing price of Ethereum has caused congestion in transactions and high transaction fees.
Thus, it is difficult for ordinary investors to bear the transfer fees of tens of hundreds of dollars for a single transfer, which gives other public chain opportunities. With the large-scale promotion of BSC public chain and HECO public chain, MDEX was born under such an opportunity with the high-performance advantages of HECO and BSC.
MDEX.COM is a decentralized cross-chain transaction protocol that supports BSC and HECO, long ranking No.1 on the DEX rankings of CoinMarketCap and CoinGecko.
It combines the advantages of low transaction fees on the Huobi ECO Chain and prosperity of Binance ecosystem, aiming at creating a high-performance composite DEX ecosystem, providing maximized rewards for participants with the "dual mining mechanism" of liquidity mining and transaction mining.
It also manages to realize a closed and self-driven loop for value capture through using its transaction fees to repurchase and burn MDX.
The original intention and vision of MDEX is to start from trading, commit itself to building a DeFi platform integrating DEX, IMO, and DAO.
In this way, it provides one-stop liquidity services for more high-quality assets, and offers users with safe, reliable and cost-effective transaction experience with diverse and high-quality assets.
Andrew (BSC.News):
Yeah, thank you for that explanation. I mean, the work you guys put into MDEX certainly speaks for itself when it comes to size and utility
There was one thing that I saw on MDEX's main page that I thought was interesting and wanted you to elaborate more on before we touch on other topics
3. What is the MDEX halving?
MDEX:
The second halving of MDX, combining with the existing trident - repurchase and burn mechanism, Burning Black Hole campaign, and Boardroom lock-up product, will bring MDX into the era of low inflation, which is good news for MDX.
one more things to add
Andrew (BSC.News):
I see so essentially, it is a massive campaign to increase the value for MDX holders
MDEX:
during the second halving MDX output will be reduced to 20 pieces per block. This means MDEX will enjoy an even lower inflation rate
yes, exactly
Andrew (BSC.News):
Very neat, and for those who may not be too familiar with MDEX
4. What is $MDX? What utilities does it hold on your platform?
MDEX:
As the core medium of exchange token of MDEX, MDX not only represents the rights of the holders, but also has its practical application value. MDX can be used in the following scenarios.
1 Governance tokens
MDX is a community-led decentralized project that can be used for community governance of MDEX to make decisions on major issues in the community. Such as voting on transaction fee ratios, review of other important rules, and the decision to achieve deflation in the face of periodic repurchase and destruction of tokens. The list is as follows:
1.1 Voting
The comprehensive evaluation is made according to the transaction volume and total value locked of the project, and the MDX users vote for the decision.
1.2 Repurchase and destruction
MDX will charge 0.3% of the transaction fee, and 66% of the total fee income will be used to repurchase and burn MDX and buy HT to airdrop to users who mortgage MDX. Among them, 40% of the above allocation ratio is used to repurchase and destroy MDX, and the remaining 60% is used to purchase HT for airdrops to MDX pledgers, and the chain is transparent.
2 Standard fundraising tokens
MDX is also a standard fundraising token used by HT-IMO, a de-centralization fundraising protocol based on MDEX platform. It’s similar to use ETH to do ICOs on Ethereum platform and will have greater value as IMO is widely used.
Andrew (BSC.News):
Okay fantastic, thank you for that information
5. With such a large TVL in BSC as well as HECO, how do you and your team incentivize yourselves to always strive for improvement?
MDEX:
The support by BSC is definitely the factor for MDEX's leading position. But apart from that, the distinctive strengths of its products also play a key role in its popularity in the market.
Excellent product design, the handsome revenue for early miners, etc., all contribute to the concentration of traffic to MDEX.
With the iteration of the product, MDEX will have more and more functions, provide better user experience and enable more profit opportunities. When deployed on public chains, I think MDEX will receive popularity from their users as well.
Andrew (BSC.News):
6. What do you believe, is the most important aspect you are contributing to DeFi?
MDEX:
As the data ecology on the public chain Ethereum continues to expand, the problems of high gas fees, slow block confirmation, and high transactions slippage on dex transactions, as represented by UniSwap, receive increasing criticism users. By taking the advantage of high TPS performance of HECO and BSC, MDEX greatly solves the problems of high gas fee and long confirmation time.
When flowers are fragment, butterflies will come. Since Mdex's launch on BSC on April 8, the excellent BSC ecology has given Mdex a huge boost to realize further development, which is why Mdex's transaction volume, lock-up volume and the number of users reached record high.
Andrew (BSC.News):
Oh wow if you started in April this is barely the beginning
How have you guys managed to grow so fast? Do you think it is because people came from ETH and using Uniswap over to BSC or HECO?
MDEX:
definitely
We have made a lot of efforts
MDEX officially launched transaction mining and liquidity mining on January 19, 2021, with safe and smooth operation for more than half a year. During this period, MDEX successfully implemented Dual-Chain Deployment and launched on the Huobi Ecological Chain (Heco) and the Binance Smart Chain (BSC). As of August 31, 2021, MDEX transaction mining subsidies and liquidity mining rewards have produced a total of 646 million MDX, worth over $900 million, and the MDEX boardroom has completed a total of about $480 million in rewards; MDEX daily transaction volume ranks No.1 in CoinMarketCap and CoinGecko of the global DEX rankings, and still keep topping the list; the cumulative transaction volume of last six-month has exceeded $400 billion. MDEX Dual-Chain Deployment (Heco&BSC) TVL exceeds US$2.5 billion.
In order to give MDX more ecological application scenarios, MDEX has launched a number of product functions:
1.In the first phase, the number of participants
of IMO (Initial Mdex Offering) exceeded 8,874, with a total transaction amount of $387 million;
2.Up to now, 13 "Burning Black Hole" campaigns have been launched, with more than 1.91 million MDX being burned.
Global expansion will be a focus of MDEX's operations in the near future. It will expand MDEX's brand influence in the entire DEX industry, so that more and more users can understand the use of MDEX transactions, namely mining, liquidity mining, and subsequent ecological scenarios.
This is the data performance of MDEX in August, let's take a look!
Andrew (BSC.News):
Wow
Very very impressive
7. Can you tell us more about the features that MDEX has to offer and how that makes MDEX unique? Let's say compared to other DEXs
MDEX:
Since the launch of the platform, MDEX has pioneered the product mechanism of “mining MDX at each transaction". After each swap transaction, users will receive MDX as a reward. So far, many DEXs have begun to benefit their users by this mean.
These functions of MDEX, such as "smart contract's automatic repurchase and burn mechanism" and "market information function" mentioned above, rank No.1 in DEX industry in the world.
Besides, there are more products such as "IMO", "Burning Black Hole" campaign, "Invitation Reward Mechanism", and "DAO",etc. Each function of them endows MDEX new "tricks", which truly realizes the re-innovation of product functions in the course of decentralization.
The current processing speed of the Ethereum network is about 15 transactions per second. A Swap operation on Uniswap takes about 20 seconds on the condition that the internet works smoothly. Once the Ethereum network is congested, users generally need to wait for more than 1 minute, and may even encounter a transaction failure.
MDEX’s Swap operation time takes about 3 seconds, so users have almost no sense of delay. The trading experience can almost catch up with centralized exchanges.
Andrew (BSC.News):
and those 3 seconds is for either BSC or HECO?
MDEX:
that's for HECO
Andrew (BSC.News):
I see
So you touched on the Board Room and the many features
8. Can you tell us in depth about the Board room? (rewards, repurchase and burn, burning black hole)
MDEX:
MDEX launched the Boardroom Lock-up function on July 17, marking another step towards DAO. Up to now, the MDEX's double-chain lock-in market capitalization has exceeded $600 million, MDX lock-in rate of 89.62%, MDX with more than 30-day lock-in volume accounting for 62.93% of the total circulation, and only 6.4 % of actual circulation of MDX.
Another difference between MDEX and other Swaps lies in the "repurchase and burn" mechanism and "Boardroom reward pool". It is through them that MDEX returns the fees contributed by users to users.
MDEX's platform revenue comes from the 0.3% transaction fee, of which, 0.1% will be used to promote the development of the MDEX ecology, 0.14% to reward miners through the Boardroom reward pool, and 0.06% to repurchase and burn MDX.
MDEX will inject a corresponding percentage of the daily platform fees into the repurchase pool. The repurchase and burn will be automatically executed by the smart contract when the repurchase price
(72-hour MDX average price) is triggered. Otherwise, MDEX will continue to accumulate the platform income into the repurchase pool.
Andrew (BSC.News):
And are users rewarded for locking up their tokens?
Or are the tokens that devs hold used for the lockup?
MDEX:
The specific Boardroom lockup rules are as follows:
1. The Boardroom lockup function now supports different lockup periods for the staking of the single token MDX, that is, users can choose to lock up their positions for current, 30 days, 90 days, 180 days and 365 days in the Boardroom single token staking pool easily.
2. Users can choose different lockup periods to obtain corresponding returns. The longer the lock-up period, the higher the income weights. That is, with the same amount of stakings, the lock-up income is more generous for longer lock-up periods.
3. Users cannot withdraw the principal during the lock-up period of the Board, but can withdraw the lock-up proceeds at any time.
4. After the lockup position expires, if there are unclaimed proceeds of the corresponding lockup, the contract will automatically transfer the proceeds to users’ wallet addresses.
Andrew (BSC.News):
Gotcha, thank you for that clarification
9. What goals have you set out for MDEX in the future? Where do you see MDEX in 5-10 years from now?
MDEX:
MDEX has announced the latest roadmap when it exercised its first halving. Since then, it has been planning for the future according to the latest roadmap.
The long-term lock-up function of the Boardroom has been launched so that more MDX holders and users can get gain more benefits. In return, it also fired the first shot of DAO. At the same time, MDEX will launch more IMOs to provide users with more air-drop benefits. In addition, MDEX will launch three plans in the follow-up to create more potential benefits for users.
The first is the M-USD plan, which is to launch a multi-collateral method to mint stable cryptocurrency MUSD, and provide suitable application scenarios and liquidity rewards in the ecology so as to offer token in liquidity for MDX holders;
The second is the M-MEX plan, which is to launch a series of derivatives tools to provide users with ways and paths to create multiple benefits;
The last is the M-League plan. On the basis of the existing Hunter plan, more funds will be injected into a series of supporting projects such as IMO, ecological fund investment and start-up project incubator, so as to better invest and serve global development and to bring benefits to users with high-quality projects and ecology.
These series of measures are all MDEX's visions. The players of decentralized transactions are all expecting these new ways.
Andrew (BSC.News):
Wow that is a lot to look forward to!
On that note...
10. Any exciting news you would like to announce here today?
MDEX:
MDEX has just released a new product - Invitation Mechanism. People who invite friends to do transactions on MDEX not only enjoy platform commission but also save service fees for their friends.
This is in line with the original intention of providing users with a cost-effective transaction experience and giving users benefits at the beginning of MDEX's establishment. This Invitation Mechanism achieves a lower cost of centralized transactions and meets users' demands.
MDEX released the Hunter plan in August - 10 million US Dollars to Support Ecological Projects. The Hunter plan has a total of $10 million, giving priority to fund projects that share MDEX's philosophy, including high-quality projects like Metaverse, DeFi, GameFi, and NFT.
The main goal of the Hunter plan released by the MDEX Foundation this time is to continuously consolidate the platform business, enrich the platform transaction diversity, provide financial support for high-quality projects, and assist project parties to expand broader ecological resources, and fundamentally promote the entire ecosystem develop.
MDEX announced that DAO governance has launched. the development of MDEX follows the essence of blockchain-DAO autonomy. The core charm of DAO is that the benefits and value created in the community will be shared by all contributors fairly.
The enabling of DAO autonomy by MDEX provides MDX holders with the chance to have a stronger sense of belonging to MDEX, making MDEX truly enter the era of community autonomy and win-win. This, will further allow the community to have more rights to make independent decisions and platform operations to be more transparent and decentralized.
Andrew (BSC.News):
Awesome, a ton of things for users to be excited about
and could you provide us with links to your social media that you would like our community to follow?
MDEX:
Official Website :
Ann Channel:
Telegram Chinese:
Telegram English:
Andrew (BSC.News):
Great, If you haven't done so already. Make sure to go check out MDEX which is a leading DEX here on BSC and HECO. They have been working nonstop to bring the best that DeFi has to offer and we can only expect to see more great things from them!
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News

ConsenSys gives a breakdown of Layer 2 roll-ups, particularly ZK-rolls-ups and where the space is headed in the third Build section of the 2023 CMC Crypto Playbook

An Overview of Layer 2 Roll-ups
Over the past few years, Layer 2 (L2) rollup solutions have come to the forefront as activity on the Ethereum network has grown. Activity and engagement with non-fungible tokens (NFTs) and Decentralized Finance (DeFi) have caused a surge in Layer 1 (L1) blockchain activity. In turn, the demand for blockspace, represented by gas costs, has increased. And the time for transaction finality has risen due to the increased network load. Whilst the Ethereum Merge set the groundwork for future gas fee optimizations; it did not directly reduce transaction gas fees.
In the year between the summer of 2020 and the peak demand in the summer of 2021 gas cost in Gwei on the Ethereum network increased by up to 1300%. The need to make transactions fast and affordable spurred the creation of two primary forms of rollup: Optimistic and Zero-Knowledge (ZK).
Rollups help remove the computational demands on the Ethereum network by moving transaction processing off-chain, converting them into a single piece of data and then submitting back on Ethereum as a batch to reduce the associated cost and time. The big difference between the two is that Optimistic roll-ups utilize fraud proofs, whereas ZK-rollups rely on zero-knowledge proofs to verify changes to the main chain.
Optimistic and ZK-rollups: Fraud Proofs vs Validity Proofs
Fraud proofs bundle transactions off-chain and then repost them to the L1. After a bundle has been submitted on the L1 there is a challenge period, during which anyone can challenge the result of the roll-up by computing a fraud proof. Similarly, zero-knowledge proofs batch transactions off-chain and submit them as a single transaction. Where they differ is rather than assuming the transactions are correct initially, they use a validity proof to instantly prove whether the transactions are valid. Once the transactions have been confirmed as valid they are then submitted to the L1. This is how they derive their respective names - fraud proofs are where the transactions are checked retrospectively to see if there are any fraudulent transactions, whereas validity proofs are completed before the transactions are submitted to the L1.
Whilst there are prominent projects for both, they each come with their own respective benefits and drawbacks. Optimistic roll-ups have the advantage that fraud proofs are only required when there is an issue. This means they require less computational resources and are able to scale well. The trouble lies with the challenge period. A longer challenge period increases the likelihood that any fraudulent transactions are identified, however, it also means that users have to wait longer to withdraw their funds. For leading optimistic rollup solutions, such as Arbitrum and Optimism, this waiting period can last up to a week. Alternatively, ZK-rollups have the advantage of always reflecting a correct L2 state. Their drawback is that proofs are required for all state transitions, rather than solely when they are contested, which limits scalability. This is further compounded by the complex nature and early stage of the technology.
Despite their respective challenges, ZK-rollups are being heralded as the future for roll-ups. This is primarily due to the automatic generation of validity proofs increasing the security of the protocol, the significantly reduced time to withdraw due to there being no challenge period, and that ZK-rollups boast better data compression. For these reasons, we will hone in on the current state of the ZK-rollup space, the latest innovations, and what lies ahead in the future.

The ZK-Rollup Space
As we’ve discussed, ZK-rollups are predominantly in the focal point with players like zkSync, Starknet, Polygon zkEVM, and Scroll all raising large amounts of capital to develop their solutions despite only StarkNet having launched on mainnet ($780MM in total). Each of these projects has taken its own angle, differing primarily across their rollups data availability strategy and their proving algorithm. The data availability strategy determines where the state data of a roll-up is stored, on-chain storage has increased security but it uses up block space on the Ethereum network which reduces transaction throughput.
The proving algorithm is the means of generating a validity proof, which can either be STARK or SNARK. Both of these algorithms help developers to relocate computation and storage off-chain, in turn increasing scalability. They are also able to verify whether a user has sufficient funds and the correct private key without having to access the information itself, thus improving the security. You can read more about the technical differences here. STARKs have the advantage of offering more scalability, security, and transparency compared to SNARKs. But the drawback STARKS have is a larger proof size, which takes longer to verify, and that SNARKs comparatively only use 24% of the gas. Therein for both SNARKS and STARKS we have the tradeoff between speed and cost vs. scalability, security, and transparency. Whilst many different methods are being explored there is not yet a definitive answer as to the best way to set up a ZK-rollup. Each configuration brings respective benefits and many developers are still exploring the optimal choice or combination for their roll-up designs.
The Hurdles To Overcome
As we’ve discussed, ZK-rollups are still in development and there are various challenges that need to be overcome before blockchain users are able to reap their full benefits. Language compatibility is one such challenge; translating Ethereum Virtual Machine (EVM)-friendly programming languages, such as Solidity, into a custom-built language specifically optimized for ZKP can help boost their efficiency, but it brings with it adoption challenges for developers. For example, StarkNet is looking to solve this with Warp, a Solidity to Cairo (the language of StarkNet’s ZKP) language compiler that looks to automatically convert Solidity into Cairo. Using Warp removes the need for developers to rewrite their code in Cairo, making it a much smoother process.
Other challenges include the secretive nature of projects, with many going against the open-source ethos of crypto due to concerns over first-mover advantage and capturing a sticky userbase. Most ZK-rollups were first launched this year, highlighting the amount of work that is yet to be done in the space.
Lastly, whilst rollups (both optimistic and zero-knowledge) have the benefits of improved speed and cost, it tends to be at the expense of decentralization. This is due to the inherent need for sequencers, the actors batching transactions and committing proofs to the L1. All rollups currently need a centralized sequencer and use upgradeable smart contracts that are managed by a single entity. Because the space is still so early, a central focal point is typically required for quick fixes to bugs in the code. Add to that the projects aren’t open-sourced, creating another hurdle for community members to act as sequencers. Many projects have indicated that they plan to decentralize their sequencer functions in the future, but this will undoubtedly take additional resources and time.
Decentralization Plans
Launching a token and open-sourcing code will be the next steps for many of the projects seeking decentralization. Tokenization of these services to generate activity and decentralize the product is another area where we expect to see a myriad of different solutions cropping up as projects look to create the most scalable, decentralized and active L2 on the market. StarkWare and zkSync are both planning to launch a token and Polygon could potentially use MATIC to support Polygon’s zkEVM initiative. Token engineering on ZK-rollups is an even more nascent space than the optimistic roll-up technology and finding an effective and sustainable model can differentiate and boost adoption.
The Future
zkEVMs are still in their very early stages and the race is on to launch on mainnet. StarkNet has the first-mover advantage but still has challenges with regard to supporting Solidity features due to the use of Cairo, leaving room for competitors to make improvements. The projects that are able to amass significant user bases will attract Decentralized Applications (Dapps) developers, in turn bringing more dapps to their platform and increasing the feature set. ConsenSys’ zkEVM is currently moving to testnet and are focussing specifically on dapp developers for this reason, leveraging tools like MetaMask, Infura and Truffle so that they can deploy and manage applications as if they were directly using Ethereum.
And whilst we have discussed the current players in the zkEVM market, other predominant rollup solutions like Polygon, Optimism, and Arbitrum still command a significant market share. As zkEVM solutions mature, we may see these projects look to transition to validity proofs or hybrid solutions, leveraging their existing user bases to attract dapp development and maintain their market dominance. In the end, the many rollup solutions (and the increased competition between them) will continue to improve the web3 user experience and introduce platforms for applications to onboard the next generation of users.
Given these threats, we’re not surprised at the secrecy of projects in the space, but we believe the true winner will be able to leverage the efficiency of ZK-rollups and combine it with a seamless developer and user experience to come out on top.
This is a guest post from CoinMarketCap with Consensys and has been edited for style. The original article was published here and was also included in the third Build section of the 2023 CMC Crypto Playbook.
What is CoinMarketCap:
CoinMarketCap is the world's most-referenced price-tracking website for digital assets in the rapidly growing cryptocurrency space. Its mission is to make crypto discoverable and efficient globally by empowering retail users with unbiased, high-quality, and accurate information for drawing their own informed conclusions.
Where to find CoinMarketCap:
Website | Twitter | Telegram | LinkedIn |
What is ConsenSys:
ConsenSys is a leading Web3 software company. It enables developers, enterprises, and people worldwide to build next-generation applications, launch modern financial infrastructure, and access the decentralized web. The ConsenSys product suite includes Infura, Quorum, Codefi, MetaMask, Truffle, and Diligence.
Where to find ConsenSys:
Website | Twitter | Discord | LinkedIn |
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Pi Network Debuts New PiOS Software Licensing Program Together With Hackathon

PiOS is a new open source software program that encourages developers to create and use open-source applications and tools within the Pi ecosystem. The software also allows developers to apply and work on other developers' contributions.
Pi Network Open Source Software License Program
Pi Network debuted its Pi Open Source (PiOS) License program at the hackathon launch to encourage developer collaboration and build its large ecosystem. The initiative enables developers to share their code while building valuable applications on the blockchain.
The protocol’s PiOS license ensures that developers create and utilize open-source applications and tools within the Pi ecosystem. In a press release shared with BSC News, the team stated that the licensing framework would ensure developers collaborate to develop unique applications on Pi Network.
“This unique licensing framework allows community developers to build on the contributions of one another, leveraging crowd wisdom of the large community. By consolidating community developers’ collective knowledge and building efforts, Pi Network aims to facilitate diverse ideations and executions to create a robust ecosystem of apps and utilities for the Pi community members,” the statement read.
The initiative enables developers to build on works created by others. Through the collective effort of developers, Pi Network aims to combine unique ideas to generate a robust ecosystem of valuable applications. One of the founders of Pi Network, Dr. Nicolas Kokkalis, also shared his thoughts about the initiative.
“Since Pi’s inception, we have always encouraged cross-collaboration. Through PiOS we hope to enable developers who wish to share their codebase with the community to do so, and also invite contributions to their code from other community developers,” said Dr. Nicolas Kokkalis. “Our hope is that by allowing Pi Community Developers to create open source applications and tools for the Pi Ecosystem, the community will continue to flourish and encourage others to build as well.”
Developers have access to the code repository licensed by other Pi community developers under the PiOS license. Further, developers receive Pi rewards as encouragement for contributing their code to the repository and making their work available to one another.
The Pi hackathon commenced on January 9th and will end on February 28th. The event invites participants to build apps across three themes: Social Media, GameFi/Entertainment, and Consumer Utilities. As of publication, over 4200 participants have registered for the event. BSC News has an article HERE for users interested in building on the blockchain. You can also visit the Pi hackathon page for more information.
What is Pi Network:
Pi Network is a novel cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining the device’s battery. Pi’s blockchain secures economic transactions via a mobile meritocracy system and a full Web 3.0 experience where community developers can build decentralized applications (dApps) for millions of users.
Where to find Pi Network:
Website | Twitter | LinkedIn | Facebook | Instagram |
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Author
BNB Chain Partners with CyberConnect for Global Hackathon: Connected 2023

Global hackathon begins immediately with judges and mentors from major Web3 projects assisting in the production.
Connected 2023 Global Web3 Hackathon
BNB Chain has announced a partnership with CyberConnect to launch a social Web3 hackathon.
The hackathon will take place from Feb 7 - March 13, according to a press release shared with BSC News. Applications to participate will remain open until February 20. The hackathon begins with immediate effect featuring over $50,000 in prizes available, project support, and more.
“Connected 2023 aims to empower a new generation of innovators by helping them bring their Web3 social ideas to life and then to market. With this event, BNB Chain and CyberConnect will empower passionate builders to kick start their journey and grow their hacks into fundable protocols," said Wilson Wei from CyberConnect.
The hackathon will have an array of ways for participants to get involved, ranging from individualized workshops, developer info sessions, team-matching sessions, and more.
The event features cosponsors Notifi, Lit, Livepeer, and XMTP plus mentors and judges from major names like Animoca Brands, Multicoin Capital, StepN, and Binance.
Interested projects can apply here.
BNB Chain is also running a concurrent developer competition called Game Jam. Running during the entire month of February, Game Jam is a healthy competition to develop social games where projects can compete for similar incubation support as the CyberConnect 2023, however, it is more specific to BNB Chain.
What is BNB Chain:
Previously known as the Binance Smart Chain (BSC), BNB Chain is a community-driven, decentralized, and censorship-resistant blockchain that is powered by Binance. It consists of BNB Beacon Chain and BNB Smart Chain, EVM compatible and facilitating a multi-chain ecosystem. Through the concept of MetaFI, BNB Chain aims to build the infrastructure to power the world’s parallel virtual ecosystem.
Find more about BNB Chain here:
Website | Twitter | Discord | Telegram | GitHub |
What is CyberConnect:
CyberConnect is a decentralized social graph protocol with identity self-sovereignty and network effects. It enables users to create profiles on BNBChain as the anchor of users’ decentralized identities. Profile owners can travel across dApps seamlessly without worrying about recreating their network on every new platform. With CyberConnect, users own their social graph, content, monetization channels, and more social data. Link3.to for example is built on CyberConnect and has more than 1,100 verified organization clients, 23k users’ all-in-on link profiles, and 200k monthly active users issued more than 1m social-related transactions on BNB Chain.
Where to find CyberConnect:
Website | Twitter | Discord | GitHub |
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Core DAO Discuss the Current State of Mainnet and Warns Against Scam $CORE

Core DAO warns users to beware of scam $CORE tokens ahead of the upcoming airdrop on February 8th.
Core DAO Release $CORE Market Information Ahead of Airdrop
The $CORE airdrop is scheduled for February 8th at 12 PM UTC. Ahead of the notable milestone in its development, the team has published details about the airdrop, including important mainnet information for the community.
In preparation for the airdrop, Core DAO published a Twitter thread on February 7th to educate users about the coin. The Satoshi Plus consensus protocol warned users to note illicit $CORE tokens launched on several platforms. The team stated that the airdrop would allow scammers to deceive Core enthusiasts.
Time for a look into the current state of mainnet, market formation, and safety 🧵👇
— Core DAO (@Coredao_Org) February 7, 2023
Core mainnet is live, and users are urged to visit Core DAO’s official sources for more information about the airdrop to avoid scams.
While the airdrop will create liquidity for $CORE, market volatility is inevitable. To regulate the difficulties in the market, top-tier market makers and exchanges support legitimate early market $CORE formation.
“The liquid $CORE markets will open around the same time as the Feb 8th airdrop. In the coming days, $CORE transactions from Core DAO’s public reserve multi-sig will be executed to get CORE tokens to partner market makers so that liquid markets exist when the airdrop occurs,” Core wrote. “Having legitimate $CORE token markets available when the airdrop occurs will allow for safer, faster, and more accessible trading for Core users.”
Once the airdrop is complete, users can participate in the network’s development by staking. You can learn how to stake on Core DAO HERE. Also, read our article on the benefits of supporting Core’s aspirations through staking.
What is Core DAO:
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the crypto ecosystem's history and an even greater excitement for Core’s role in its future.
Where to find Core DAO:
Website | Docs | Twitter | Discord
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Author

Let's take a look at five different ways to diversify your portfolio and get exposure to Bitcoin in a regulated environment.
Exposure to Bitcoin in traditional markets is a great way to diversify portfolio investments and bring the big potential of Bitcoin to your portfolio within a regulated environment.
There are a growing number of ways to invest in Bitcoin in the traditional markets and in this article, we will take a quick look at five different investment opportunities available.
Let’s take a look!
Five Bitcoin-Related ETFs
Grayscale Bitcoin Trust (GBTC):

The Grayscale Bitcoin Trust is one of the first Bitcoin ETFs available to US investors. It provides exposure to Bitcoin through a publicly traded trust. However, it is also known for its premium pricing, which can make it more expensive than other Bitcoin investment options, and this pricing has also led to some controversies.
GBTC recently traded at $11.80 USD.
Where to find Grayscale:
Website | Twitter | LinkedIn | Bitcoin Trust |
Purpose Bitcoin ETF (BTCC):

BTCC is a Canadian ETF that provides exposure to Bitcoin through a passively managed portfolio of the cryptocurrency. The team at Purpose Investments brings investors a low-cost and efficient vehicle to invest in Bitcoin. Purpose is a technology-driven firm that always aims to change and meet the status quo.
BTCC recently traded at $4.49 CAD.
Where to find Purpose Investments:
Website | Twitter | LinkedIn |
Evolve Bitcoin ETF (EBIT):

The second Canadian ETF on the list is from Evolve. The team at Evolve supports investors with exposure to the price movements of the cryptocurrency and also offers liquidity and transparency through a regulated company.
EBIT.TO recently traded at $11.53 CAD.
Where to find Evolve ETFs:
Website | Twitter | LinkedIn |
First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT):

The First Trust SkyBridge Crypto Industry and Digital Economy ETF is an investment fund from the team at First Trust Portfolio with the objective to provide investors with capital appreciation. The Fund pursues its investment strategy primarily by investing in Bitcoin futures and has exposure to companies like Microstrategy and Coinbase.
CRPT recently traded at $4.98 USD.
Where to find First Trust Portfolios:
Website | Twitter | LinkedIn |
3iQ Bitcoin ETF (QBTC):

This is another Canadian-listed ETF with exposure to Bitcoin that invests directly in cryptocurrencies. 3iQ aims to provide investors with simple and efficient ways to invest in Bitcoin while maintaining all the benefits of a regulated environment. 3iQ also offers several other ETFs related to digital assets like Ethereum and more general funds.
QBTC.TO recently traded at $31.59 CAD.
Where to find 3iQ:
Website | Twitter | LinkedIn |
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.
Looking for a job in crypto? Check out the CryptoJobsNow listings!
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