BinanceMax; A Decentralized Platform Featuring Centralized Platforms
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There are numerous challenges faced in the crypto space, and these obstructions must be removed and dealt with, to create a smoother user experience. Some of such issues include the user unfriendliness in using AMM (Automatic Market Makers) like Uniswap, PancakeSwap, etc. Also, there is little or no data provided for users to monitor price changes, and we all know that such information plays a vital role in the making of a good trade. Nevertheless, there is a solution to such and similar challenges. Introducing Binance Max.
BinanceMax
BinanceMax is the first decentralized exchange to integrate the features of centralized exchanges, and still retaining its decentralization. Imagine seeing Binance-like bar charts on Uniswap/PancakeSwap. That is exactly what I mean, and even more features. BinanceMax also offers futures and margin trading with up to 100x leverage, yet, it is built on the Binance Smart Chain.
BinanceMax provides a DAMM (Decentralized Automatic Market Maker) that allows users to safely swap and trade their digital assets through the liquidity that is generated from LP (Liquidity Pool). Users can farm and stake their LP tokens to earn more tokens and even earn from the trading fees for swap pairs. Adding to that, BinanceMax provides a daily lottery program that rewards 3 lucky users with as much as 5 – 50 BNB and also rewards users who hold up to 0.25 BNB worth of BMAX tokens.
Core Features Of BinanceMax
Security and Safety: Built on an existing distributed ledger, BinanceMax’s transactions are absolutely visible and transparent to everyone through the Binance Smart Chain Network. Users do not need to provide an email address or password to access any of the BinanceMax products or services. Users can rather have access using the web3 enabled wallet provided by BinanceMax.
Also, users' private keys and funds are kept so discreet that nobody (including team members of the platform) can have access to them. Adding to that, the team has chosen to work with security personnel, auditing firms, and bug hunters, to provide more tight security in the platform.
Governance(100% Community Driven): BinanceMax ensures that every BMAX token holder has the right to participate in the decision-making of the platform. This ensures that the voice of everyone is heard and understood. It will also help prevent larger token holders from oppressing the small token holders or jeopardizing the platform. As the platform grows, governance will be transferred to community members who hold BinanceMax government tokens.
Some Other Features Include;
- A free built-in trading chart and tools
- Decentralized futures up to 100× leverage and margin trading
- Decentralized lending and borrowing platform for leverage trading
- 100% owned by the community as contract address ownership gets renounced
- Daily lottery (Each day up to 3 Bmax holders will win 5 to 50 BNB worth of Bmax daily through
lottery draws), etc.
The BinanceMax Token
BMAX is the native token of the BinanceMax platform. It is a self-automated liquidity-generation and auto-burning token with a unique staking mechanism. There is also an automatic 5% charge for every transaction involving BMAX. With 1,000,000,000,000 (1 trillion) as its total supply, 20% of the total supply will be burnt, and even as the auto burn feature has been set, this will help by increasing scarcity and value.
Tokenomics
Total supply - 1,000,000,000,000 (1 trillion)
Token sale (presale and public sales) 50% - 500,000,000,000 BMAX
Initial Liquidity fund 10% - 100,000,000,000 BMAX
Initial Burn amount 20% - 200,000,000,000 BMAX
Initial Lottery wallet fund 10% - 100,000,000,000 BMAX
Airdrop and bounty token 5% - 50,000,000,000 BMAX
Team and dev token 5% - 50,000,000,000 BMAX
Note that team/dev token will be locked for 1 year and will be unlocked 10% monthly
Conclusion
BinanceMax has proven to be an outstanding platform that offers centralized exchange features even as a decentralized platform. With the prementioned amazing features, BinanceMax has the potential to scale through. Hopefully, newbies and even old traders will find the BinanceMax platform friendly and easy to access/use.
Disclaimer: This article is solely for marketing purposes. It is advised that you DYOR (do your own research) before investing into any project.
Written by Chris Barth
