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What is BinaryX (BNX)?

BinaryX ($BNX) is a blockchain-based GameFi platform on the BNB Chain that provides a fast and cost-effective gaming ecosystem. BinaryX was originally a decentralized derivatives trading platform; it became focused on the space of Blockchain Gaming, linking the principles of DeFi to Gaming mechanics. Playing is an earn-through feature that allows gamers to receive cryptocurrency rewards as they play a game.

The platform has released various blockchain games, including CyberDragon, CyberChess, and CyberLand, incorporating DeFi and NFT features. With Blockchain technology, this company has assured transparency, safety, and ownership of an in-game asset. Decentralized governance gives the players an invaluable role in influencing the way decisions are made in the platform as governed by a Decentralized Autonomous Organization (DAO).

BinaryX acts as a game builder and Initial Game Offering (IGO) launchpad, helping developers monetize their GameFi projects. 

What is the BNX Token?

BNX is the native token of BinaryX for in-game transactions DAO governance, IGO funding, and play-to-earn rewards. A 2023 token split intended to create a more fine-tuned economic model, lowering the entry barrier and encouraging more engagement in the ecosystem. 

BNX Token Split

The BinaryX team has identified that the high price per unit serves two purposes: to limit accessibility for new users and as a hindrance for the wide adoption of its services. As a countermeasure, the team proposed a token pull of 1:100 to suppress the per-unit price while adhering to the token's true value. Such move was optimized towards achieving an economic model that encourages wider participation in the BinaryX ecosystem.

The proposal from DAO had already been presented, with 99.5% approval rating from the community. The split guarantees that all old uses of BNX continue without any changes.

Details on the Split:

• The name of the project, BinaryX, and ticker, BNX, remain unchanged.
• All previous use cases of BNX were migrated onto the new BNX.
• In-game activities such as CyberChess Weekly Prizes and Hero prices are accordingly adjusted.