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Four is a cryptocurrency asset. The provided FAQ details BinaryX, a GameFi platform with IGO services developed by an anonymous team. It operates on Binance Smart Chain with a capped supply of 21 million tokens, aiming to support Web3 gaming innovation through titles like CyberDragon and future incubated projects.
BinaryX ($BNX) serves as the native token for the BinaryX ecosystem, encompassing its DAO and every product or game that uses $BNX. Originally launched as a decentralized derivative trading platform, the team shifted focus due to the rising interest in GameFi and metaverse titles. They moved toward creating decentralized video games and are currently completing a transition into a GameFi platform that provides IGO services to connect Web2 developers with Web3.
The offerings from BinaryX include infrastructure support, a DAO-based governance model, and community development efforts. These services aim to help scale promising GameFi initiatives and drive further innovation within the blockchain gaming industry.
Although Binance Labs provided backing for the project, the individuals who developed BinaryX remain anonymous. In an interview with Binance, they disclosed that the group consists of senior blockchain specialists with diverse international backgrounds. The team reportedly possesses experience in constructing both centralized and decentralized exchanges, as well as managing derivative assets exceeding $100 million.
The BinaryX development team seeks to transform the appearance of gaming within the GameFi sector. Their primary objective is to establish a lasting economic framework for their titles, expanding on the current ecosystem while introducing more enjoyable gameplay experiences.
As a GameFi platform, BinaryX has produced CyberDragon and CyberArena, which stand as two leading games on the BNB Chain.
In September 2022, the platform released CyberChess, an auto-battler strategy title drawing inspiration from Autochess. This game features a more robust structure, enhanced playability, and the most thorough mechanism among all BinaryX projects to date, marking a shift from play-to-earn (P2E) toward a free-to-play, play-and-earn model.
To increase its value within the GameFi industry, BinaryX is currently evolving into an IGO platform that offers a full range of services to incubate, enable, and support emerging GameFi developers. This involves supplying improved and customized resources to creators encountering obstacles in their project timelines. At present, BinaryX has just initiated its inaugural IGO project, SHIT IGO, with additional IGOs planned for the future.
The Binary X website offers virtually no details regarding its tokenomics. Public records indicate that BNX has a capped supply of 21 million tokens. Tokens acquired through the genesis mining event are subject to automatic lock-up dividends, with rewards becoming unlocked once the mining phase concludes. The distribution breakdown for BNX is:
No data is available concerning vesting schedules. As of this writing, the circulating supply stands at slightly more than 2 million BNX.
The BNX token operates as a BEP-20 asset on the Binance Smart Chain. Certik performed an audit of BNX, awarding it a strong security rating of 83. According to the BinaryX team in an interview, they selected Binance Smart Chain for its reduced fees, quicker transaction confirmations, and higher bandwidth, all of which are essential for supporting an MMORPG.
Security on BSC relies on a proof-of-stake consensus model. Every 24 hours, 21 validators are chosen to verify transactions and uphold the blockchain's integrity. To qualify for this role, these validators must stake a specific quantity of BNB coins with Binance.
You can purchase BNX on Gate.io, CoinW, ZT, Mandala Exchange, and Binance.
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