Recap of Reddit AMA with BinaryX

BSC News hosts Levyz, the Global Head of Marketing of one of the stars of the Most Valuable Builder Program III (MVB III), BinaryX.

By
Anirudh Tiwari
on
October 15, 2021
Category:
BSC News

BinaryX Reveals Plans for Cyber Dragon

BSC News hosted a Reddit Ask Me Anything (AMA) along with the Global Head of Marketing at BinaryX, Levyz, on Oct. 14, wherein he addressed several questions from the community, taking a keen interest in the platform. 

BinaryX is a centralized derivatives protocol founded in Spring 2021 that uses an improved automated market maker (AMM) to transact with various financial assets and cryptocurrencies. The focus of the AMA was the protocol’s Binance Smart Chain (BSC) based play-to-earn (P2E) game, Cyber Dragon that quickly risen to become one of the top 3 games in the BSC ecosystem.

“Cyber ​​Dragon has a dual-token economic system of BNX + GOLD.BNX is Cyber ​​Dragon's governance token. BNX token holders can participate in community governance and voting on major game decisions. Some key operations of the game require consuming BNX tokens, such as creating heroes, forging rare equipment, challenging the Cyber ​​Dragon dungeon and some top dungeons. Most of the BNX paid by users in the game will be used as event rewards and returned to users.” explained Levyz when asked about the benefits of their tokens in the long term.
Source: BSC News Reddit

Levyz also elaborated on the P2E token economy being a challenge for the project. 

“As a play-to-earn game, it is very important to balance the whole tokenomics system. Otherwise the inflation problem will cause the price of our token falls. I have to say we are doing very well in terms of the whole economy system. We have a dual token mechanism and it works quite well,” he mentioned the challenges that the project has been facing.

For now, users can play Cyber Dragon in a Player vs. Environment (PVE). Levyz confirmed that a Player vs. Player (PVP) mode will also be launched later this year. Regarding the game’s metaverse roadmap, he pointed out that the game has a clear distinct roadmap. 

“In this month, our equipment system and second treasure chest will be opened. In Nov., the player battle system(PVP) will be launched. (...) In Dec. and afterwards, the Union System and Map System will be opened. We encourage players to form unions and battle with each other,” said Levyz breaking down the next steps of the roadmap.

In answering the last question that spoke about catering to the non-crypto community, Levyz opined that the game would be easy to play, and the play-to-earn model and the ownership of game assets as NFTs would be attractive to these folk.

Soon after the AMA, BinaryX was also chosen as the ‘Project of the Week’ by BSCProject, as announced on their Twitter page. 

Find more about BinaryX here:

Website | Twitter | Telegram | Medium | Certik Audit Report

Tags:
Anirudh Tiwari

Anirudh is a cryptocurrency analyst and writer who specializes in derivatives, DeFi, regulations and CBDCs. He has a Master’s degree in Finance. Before delving into crypto, he worked with a leading U.S. based investment bank. Apart from work, he is a music connoisseur and likes to play the drums. His largest holdings in crypto are Ethereum, Cardano, and Polkadot.

Text Link

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.