BSCEX Rebrands to Launchzone: A Complete DeFi Ecosystem

LaunchZone aims to become the project offering all of Binance Exchange Off-chain services to its on-chain users. Users will save on transaction costs while simultaneously reaping the benefits of decentralization.

About Launchzone

Launchzone is a decentralized non-custodial cryptocurrency exchange-centered ecosystem that runs on the Binance Smart Chain (BSC) network. Its core mission is to make Binances off-chain service available on the BSC network.

The project focuses on their unique technology called Cross Liquidity Layer 2 that utilizes the liquidity of famous Automated Market Makers (AMM) like PancakeSwap, BakerySwap, BurgerSwap. Through liquidity aggregation the protocol provides users access to near all BSC liquidity resulting in low slippage.

The team has released a couple of products with the core aim of servicing the Defi sector in a better-planned fashion. By holding BSCX token, the native token of the LaunchZone platform, users will benefit from using the LaunchZone range of products. They can participate in activities like Liquidity Mining, IDO (Padx), Pool X, LaunchZone SwapX, and many other on chain services that warrant holders’ economic benefits.

What is PadX?

PadX is the Initial Decentralized Offering (IDO) platform of the LaunchZone ecosystem. The platform offers IDO participation to users in a completely decentralized and transparent manner. The team aims to solve the issue prevalent with most IDO platforms which employs strategies that do not favor the individual users.

At the end of February of 2021, the team announced the IDO platform’s launch. It allows projects to carry out fundraising events on the platform. PadX is the onchain version of the popular Binance exchange launchpad – the place where launchpad emanated from and got its popularity. The difference will be that only those who got lucky and won the LuckyStar tickets of the PadX have the right to participate in the IDO.

Key Features of PadX

Open and transparent IDO process

Seamless and low slippage token swaps

Innovative, decentralized, and outstanding

PadX Components

To meet the enormous demands of IDO participants, LaunchZone adopted the lottery strategy. This creates a fair system of getting maximum participants on PadX while tokens are typically limited. The lottery system is based on participants’ BSCEX tokens and entries are distributed pro-rata based on a user’s share. Individual participants must lock in their tokens for a specific period, which is a required to participate in the IFOs.

The process is completely automated and random for fairness and transparency purposes. When users apply for the Lucky Stars event, the lottery will take place, and winners will be automatically selected to participate in the IDO.

For each 100 BSCX tokens locked, the user will get one lottery ticket called Lucky Star

One wallet address can lock up to 1,000 BSCX (equals 10 Lucky Stars)

Locking period = 6 months

During that six months, users, who have their BSCX locked for getting Lucky Stars, can:

Participate in other IDO on the LaunchZone (no need to lock more funds)

Receive 10% of the raised funds from the IDOs on LaunchZone

Receive other airdrops that the platform business partners distribute.

A detailed guide on how to take part in the LaunchZone IDO PadX process and platform can be found here.

BSC.Tools became the first project to be featured on the Launch Zone IDO platform. The offering has been successfully concluded. And just in from the team, the share of the $TOOLS IDO raised fund will be distributed to the qualified addresses, and it will be in $BSCX tokens.

According to the team in the information contained in their official Tweet, there will be one more IDO this month; users can therefore stay on the lookout for this.

Tokenomics

Holders of the $BSCX token, the native token that fuels the LaunchZone platform’s activities, can participate in all platform events. Holders get voting right for governance, join in IDO when they lock their tokens for specific periods, Yield farming pools on the PoolX platform, and other activities that increase holders’ profit potential.

Token specification

Name: Launchzone token

Symbol: $BSCX

Network: Binance Smart Chain  (BSC)

Spec: BEP-20

Precision: 18

Smart Contract Address:  0x5ac52ee5b2a633895292ff6d8a89bb9190451587

Token Allocation

Total Supply: 9,983,396 $BSCX

Farming: 7,983,396 $BSCX (75% locked for 1 year)

IDO: 2,000,000 $BSCX

Liquidity stage 1 (after IDO): 422,806 $BSCX

Liquidity stage 2: 577,194 $BSCX or Burn (A vote will be done to decide this)

Airdrop: 200,000 $BSCX

The token is also integrated with deflationary mechanics, i.e., every time users send $BSCX, 5% is burned. This attribute has not been activated as it awaits the community decision alongside 20% of all the $BSCX raised in future IDOs planned burn program.

Roadmap

Already Implemented:

PoolX – The onchain version of Binance exchanges launchpool. PoolX allows users to use their tokens, the liquidity provider (LP) token of the BSCX-BUSD pair, to farm new tokens for free.

PadX – IDO platform for crypto start-ups to raise funds for their projects.

LaunchZone SwapX – Key product of the LaunchZone ecosystem. It is similar to Binance’s Liquid Swap but much more advanced. Binance’s LiquidSwap is a centralized service that supports swapping between stablecoins and fiats while SwapX supports more stable coins and cryptocurrency pairs.

Still to come;

AMM+ – Access to multiple liquidity platforms to facilitate high liquidity and reduced slippage for Dex trades. Access to LaunchZone aggregating engine and Cross Liquidity Layer 2.

LauncZone DexX – will be the LaunchZone ecosystems decentralized crypto exchange built on the Binance Smart Chain network.

Cross-chain communication is made possible by wrapping digital assets and allowing for multiple cross-communication between assets.

Decentralized Fiat settlement layer

High Yield Lending and Borrowing platform.

In Conclusion

LaunchZone aims to become the project offering all of Binance Exchange Off-chain services to its on-chain users. Users will save on transaction costs while simultaneously reaping the benefits of decentralization.

In the future, cross-chain interoperability between assets will be available in the LaunchZone suite of products allowing for increased usage of the protocol. Users will be able to access launchZone on multiple chains to swap countless assets. Its high yield lending and borrowing platform will revamp the loan industry and provide better earning options than existing solutions.

Source : bsc.news