When interacting with decentralized blockchains and DeFi, improving your knowledge and awareness should always remain your top priority. With dozens of projects joining the BSC ecosystem every month, it’s not easy to keep up or better understand all the projects.
An excellent way to save time and get more info in one place are our Telegram AMAs. We will introduce you to new and emerging projects but also well-established names, help you better understand their offerings, and get to know their teams. If you attend a live AMA, you can ask the teams your burning questions and also win prizes and tokens.
Now let’s get to a transcript of a recent AMA with an amazing community-driven project LaunchZone. Please note that some questions and answers were edited for brevity and clarity. The original transcript can be found in our Telegram. We held this live AMA on April 22, 2021.
Jeff: I noticed your recent name change from BSCex to LaunchZone. Tell us why such a change and what effect it had on your project?
LaunchZone: Apart from changing the name, we also changed our website to Launchzone.org. Our token $BSCX however remains unchanged.
In December 2020, we launched BSCex Ecosystem, a decentralized non-custodial cryptocurrency exchange-centered ecosystem that runs on BSC. Since then we have released many products such as SwapX, LaunchPoolX, and recently LaunchPadX.
Our mission is to make Binance’s off-chain services available on the blockchain, develop the applications on BSC, and promote the features of decentralized finance that let our users earn tokens and gain many other economic benefits. Our business has experienced explosive growth in demand for our crypto services (LaunchPoolX, SwapX, and LaunchPadX) in the past 3 months. Many startups and partners have joined and launched on our platform.
The brand BSCex is great but does not include all aspects of our services. We are not only a crypto exchange but also an incubator that scouts out promising crypto companies and guides them through the phases of development until they are robust enough to launch successfully.
The BSCex Ecosystem will be rebranded to LaunchZone. This is our immediate decision and a significant step towards expanding our business and supporting our products and communities. We believe that this rebrand will give our community and our partners an amazing opportunity to build a better crypto exchange plus crypto startup incubator that the crypto market deserves.
After this announcement of the rebranding:
- Our logo, business name, social media profiles will be changed respectively.
- The name of our products will be changed: LaunchPoolX to PoolX, LaunchPadX to PadX.
- Token ($BSCX) and other tokens on our platform will remain unchanged
- Partnership and other business agreements will remain unchanged.
- Airdrops and other programs will remain unchanged.
In the meantime, our users won’t have to do anything: no need to remove liquidity or move your funds. All of your funds are safe, and we will do our best to support our beloved users.
Our community is important to us and we wanted to reward BSCX token holders and our users who have been supportive for a long time by bringing them additional utility outside of what exists within our old ecosystem.
Many airdrops and benefits from our partners will be primarily distributed to our community but also to the Binance Smart Chain community in general. We’ll be working with all services which support BSCex to support the rebrand, stay tuned for more!
For full details about our rebranding, click here.
J: Why did you choose BSC?
LZ: 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.
Binance Smart Chain has much better speed and much lower transaction fees than the Ethereum network. With the support of the world’s biggest crypto exchange Binance and its CEO, Changpeng Zhao (aka CZ). The Binance Smart Chain is gaining a competitive advantage and liquidity. In the foreseeable future, the BSC will become one of the most popular blockchains of the decentralized economy. The LaunchZone Aggregating Engine will find the AMMs with the best liquidity among BSC’s AMMs to divide, match, and execute user’s orders. Most AMMs suffer from low liquidity and the big price impact (slippage) for the vast majority of transactions. Users cannot execute the order with high volume without causing a big slippage. The LaunchZone Aggregating Engine will divide the order into many parts and execute each part in different AMMs to lower the risk of price slippage.
J: What are LaunchZone short-term goals?
LZ: In the short term, 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
1. SwapX: a Dapp that allows users to Swap Crypto tokens with the easiest steps and highest monetary security.
2. PoolX: Liquidity Farming Pools with great APY for users to generate their passive income.
We believe that the existence of these 2 products offers all members of BSCex, familiar or unfamiliar with crypto assets, a good first impression on earning from Blockchain as they were designed to be very user-friendly.
3. PadX: a Dapp for members to buy IDO
J: What are LaunchZone long-term goals?
LZ: In the near future, we are launching our next product DexX, a decentralized crypto exchange that has the full functionality of a centralized exchange.
This plan is set as we wanted to: 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. LaunchZone is designed to serve everyone but on a higher level, it is fully decentralized and everyone gets to control their own assets.
J: How do you plan to remain competitive compared to many new BSC AMM aggregators?
LZ: 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.
Operational model of AMM
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. Tthe otal price impact/slippage is 0.097%, much lower than executing an order on just one single AMM.
SwapX sample swap
J: Tell us more about PoolX
LZ: PoolX is the on-chain version of Binance exchange’s Launchpool. LaunchpoolX lets you use your tokens and the liquidity provider (LP) token of the BSCX-BUSD pair to farm (earn) a new token, for free. The amount of tokens you earn each daily is proportional to the number of tokens you have subscribed to the pool vs the total number of tokens subscribed to the pool. The tokens you earn are distributed to you in real-time. You get to accumulate a brand new coin, for free with high APY.
J: What other plans can the community look forward to?
LZ: Referral programs will be a big driver of our expansion in the upcoming period.
Farming Referral program: you will need to have 30 BSCX-BUSD LP in your balance to activate the Direct Referral Program and 300 BSCX-BUSD LP in your balance to activate 2-Tier Referral Program.
Trading Referral Program: Users who connect their wallets to SwapX will have a unique referral link. The user copies the link and sends it to his/her friends. The winner of the contest will be the one with the highest total of friends’ trading volume.
This is why once you join the BSCex ecosystem, there shall be many ways to increase your income, and every effort you make to expand the system is well paid. Recently, due to CAKE’s price increase, our reward pool for the CAKE Trading Referral Program has increased to $35,000 (5000 CAKEs)