Recap AMA BinaryX x Vietnam Coin Market Community

9 min readMay 30, 2021

Mr Hubert: Hello everyone,

Only 5 minutes left and the AMA event of BinaryX will be started

The representative for Vietnam Coin Market (VCM) is Admin Owner @taitan296 who will run AMA and BinaryX project’s representative is @levy_zl.

Translator: @nguyetvcm

Vietnam Coin Market Group (VCM) will be locked to make the event convenient.

After Segment 2 of the Vietnam Coin Market group will be opened a chat so that the community can ask the project.

How’s everything going?

Again, it’s been my greatest pleasure to announce today’s special AMA session

“BinaryX”

Today’s AMA session is composed of 4 parts:

✔️ Part 1 — Welcome

✔️ Part 2 — Q&A

✔️ Part 3 — Questions on Twitter — Guest will choose the 5 best questions from this Tweet: https://twitter.com/chocoin_VN/status/1398244735081336835?s=20

🏆 Reward: $10 USDT / 1 winner.

✔️ Part 4 — Free — asking: the guests will choose about 5 good questions to answer.

🏆 Reward: $10 USDT / 1 winner.

Craving for the question rain ahead after I unmute the group.

Anyway, let’s get the curtain roll-up and welcome @levy_zl.

Mr Levyz: Hello everyone!

Mr Hubert: Hello! It’s a pleasure to all of you who participated in the AMA today.

Mr Levyz: Thanks for your support.

Mr Hubert: Could you briefly introduce about yourselves as well as your project?

Mr Levyz: I’m Levyz from BinaryX, I’m currently the core member and marketing manager of BinaryX.

BinaryX is a brand new Decentralized Derivatives Protocol on BSC.

We have an International team.Team members come from many countries, including senior technical personnel in the blockchain industry.

We have devs participated in the development of top centralized exchange and decentralized projects, and Professionals from the traditional financial industry who have managed derivatives assets of more than 100M USD.

Mr Hubert: How wonderful, sir. The VCM audience is also eager to study the BinaryX project.

Looking forward to have our audiences to know more about the project and the views.

Let’s get to the first question we’d like to know from you.

What makes the BinaryX project stand out more than the projects in the same direction at the moment?

Mr Levyz: There are already some excellent Derivatives Protocols in Defi, like Synthetix, Dfuture, etc.

But these products are too hard-core, like Derivatives in the traditional financial market, rigorous and complicated, making ordinary users confuse.

We want to provide a different product, which is Simple, Fair, Sufficient Leveraged and Community Driven.

Our first product is Binary Options. In the future, we will launch more products. Our road map include an NFT assets auction product.

Mr Hubert: Thank you, we could give some mins for our audiences to read more about the comment.

We will come to the next question:

Who are some business partners/clients for BinaryX?

Mr Levyz: We will form more partnerships with other influential Bsc projects. We would like to provide decentralized derivative scenarios to other projects.

For example, we have a discussion with Bake, and also safemoon.

We are negotiating with some big VCs for a new round of investment. I can’t reveal more detalis before the official announcement.

In terms of marketing, we will have a referral program in the future, so that users can introduce new users to participate in the BinaryX protocol with incentives.

Mr Hubert: Thanks for your sharing. We continue to spend some time with VCM audiences and Mrs Nguyet again. :))

Can’t wait any longer. I think the audience is wanting to learn more about the project:

What are the memorable milestones of BinaryX in the research and development process?

Mr Levyz: Now the devs are focusing on the launch of more assets for our options, so the first milestone is users can trade more kinds of assets in BinaryX.

And there will be an incentive LP program for Pancakeswap LP to increase $BNX liquidity. The next milestone will be the NFT assets auction product.

All of these products will be fully discussed with the community before going online, the community will be involved in the operation of the project.

At the same time, most of the incomes of the project will also belong to the community.

Mr Hubert: Feeling quite excited about this project, sir. I think everyone will love it and support it as well.

We to the last question of the Q-A segment:

What does BinaryX plan to do to attract more users in the upcoming time?

Mr Levyz: As I said, Binaryx is a product-driven protocol, the most important thing for our team is to make a better product, and then we will introduce more infuential VCs and also more marketing events to make our project very competative.

There are more creative products we will launch in interesting ways, so that $BNX holders can be benefit.

$BNX holders have the rights to vote for listing new assets and more proposals. We will also host activities like trading competitions with generous rewards and Communication Ambassador Program in the future,

Mr Hubert: How wonderful, sir. VCM will make a small contribution to the project support. Nice to do this. 😊

The last question is already done. Thank you @levy_zl for bringing the above useful information.

We’ll move on to segment 3: Questions on Twitter.

The first question, it’s quite interesting, sir.

#1 I am a crypto investor and I only care about prospect of a crypto that I chose, tell me the reason why I BinaryX choose your project over the existing one ? What is your coin advantage that can convince me to change from my favorite token ?

https://twitter.com/ngo_nguyenkhang/status/1398269918118772740?s=21

Mr Levyz: First, I think the decentralised derivatives is a very important area in Defi, We aim to become pancake of the decentralised options.

Our first product is Binary Options. Unlike traditional options, the rules of binary options are very simple. you buy the option to predict the trend of an asset’s market price.

The product is simple and easy to understand, and all users can quickly participate. All profits generated from trading binary options will be distributed to users who hold and lockup $BNX tokens.

Mr Hubert: Thanks for sharing; we come to question #2: Almost 2/3 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?

https://twitter.com/diana_4009/status/1398985196146331654?s=21

Mr Levyz: The market price of $bnx is still very solid during recent market dumps. So the $bnx holders should be very confident that they hold a long term project.

All profits generated from trading binary options will be distributed to users who hold and lockup $BNX tokens. As we said before, all profits from the project will be distributed to BNX holders.

This is the incentive for long term holders.

Mr Hubert: Thanks for sharing; we come to question #3: Can you tell me about the four features of BinaryX protocol (Simple, Fair, Enough Leverage and Community Driven)? In short, how does each one work? Which do you think is better for new users who invest little capital? What is your ultimate purpose?

https://twitter.com/ngo_nguyenkhang/status/1398269662127738887?s=21

Mr Levyz: These are some features of BinaryX protocol.

1. Simple. It can be understood without advanced financial knowledge, and a newcomer can quickly participate in trading.

2. Fairness. All participants participate in a fair manner.

3. Sufficient leverages. Our products will provide high leverage to give participants the opportunity to earn 10x profits in a short period of time, as long as you have enough skills or lucks.

4. Owned by the community. All users will receive BNX tokens, and all the income of the protocol will be distributed to $BNX holders.

Mr Hubert: We’ll come to the next interesting question, question #4: As far as I know, $BNX tokens do not have a presale through ICO or IDO. most of the $BNX tokens are generated by mining. What is the purpose behind it? What this will bring to your project?

https://twitter.com/quachthingoc96/status/1398263749165805570?s=21

Mr Levyz: Yes, We do not have a presale through ICO or IDO.

Most of the $BNX tokens are generated from the user’s activities on BinaryX Protocol.

We hope all BNX tokens will be fairly distributed to all people who participate and use our products, because they are the creators of values.

By distributing profits to all BNX users, every member is a stake holder.

Mr Hubert: Thanks for sharing, we’ll come to question #5: Smart contracts are vulnerable to bugs, exploits and hackers. How secure your contract? Do you have any audits? Even if a project has an audit, sometimes scam issues happens. What is your plan about that?

https://twitter.com/ngotrihuynh/status/1398264585958817795

Mr Levyz: The security of smart contracts is the key to Defi projects.

Our contracts have been audited by Certik. And it is operating well until today.

Our development team is professional and has participated in the development of top-tier exchanges and solid Defi projects in the past, they have lots of experiences in smart contract security.

In addition to the audit, we also preset a lot of security restrictions, one is the security restrictions in the contract, we will set various security logic inside the contract, once abnormal data or user behavior occurs, our contract will automatically suspended various transfer-out and transaction functions to avoid large losses due to bugs.

On the other hand, we have set up a manual intervention mechanism, to avoid the expansion of losses caused by the attacks.

Mr Hubert: Thanks for sharing; we’ll come to the final question on segment 3:

As a community driven project ambassador plays a vital role what are your plans for the ambassador programme?

https://twitter.com/EmilyAv720/status/1398893078971179009

Mr Levyz: We will have a referral program in the future, so that project ambassadors can introduce new users to participate in the BinaryX protocol with incentives. If you are intereted to be our ambassador, please contact me. Wecome our Vietnam community members to become the project ambassadors.

Mr Hubert: Thanks @levy_zl for answering questions from the VCM community on Twitter.

Next, the Vietnam Coin Market Community will open a chat for the community to ask questions to the project. We will have 120s to ask. The BinaryX project will then choose 5 questions to answer.

Let’s go!

Now!

Let’s give some mins for @levy_zl to choose 5 questions to answer.

@levy_zl, you may proceed now.

Question 1. I wanted to follow your project for the long term. Where i can get all the latest news about your project? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake telegram/twitter groups?

Twitter: https://twitter.com/binary_x

Telegram: https://t.me/binaryxGlobal

You can get all the latest news about our project in our tg and twitter.

Question 2. Why you build your token on Ethereum blockchain? As we all know Ethereum has scalability issues? Any plan to move on other blockchain or mainnet? Please enlight me your project visions and why are you in blockchain and what are your upcoming goals for next three months?

BinaryX is on BSC now, and we will launch on Ethereum and other blockchain in the future if needed.

Question 3. Can you share ideas when developing BNX ? What makes you use blockchain technology to do those ideas?

We believe the blockchain and Crypto currency is a reform of the traditional Finance indutry, that’s what we have seen in the Defi Summer of last year. That’s why we build the BinaryX protocol.

Question 4. I believe that BNX is really Great and has very big Potential to Thrive in the future. Can you please Tell me how I can do Investment with BNX? Do you have any ICO or maybe presale now?

You can buy $BNX on Pancakeswap: https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x8C851d1a123Ff703BD1f9dabe631b69902Df5f97. Or you can mine $BNX through Deposting $BUSD in our website.

Question 5. Does your project support staking program?if yes. how is your stake system work, what is the requirement for user if they want to stake in your platform?

You can either stake $busd to mine $bnx or stake $bnx to share our $busd incomes in BinaryX website: https://www.binaryx.pro/

Mr Hubert: Thanks @levy_zl for answering questions from the VCM community

So the AMA BinaryX at Vietnam Coin Market (VCM) is also coming to an end. Hopefully in this direct exchange, the community has a basic understanding of the BinaryX project. I am the moderator today. Congratulations to the BinaryX.

Thanks @levy_zl for joining AMA with the VCM community today. Wish you much health and success.

Again, don’t forget to join the BinaryX community for further assistance. Thanks everyone.

Website: https://www.binaryx.pro/

Twitter: https://twitter.com/binary_x

Telegram: https://t.me/binaryxGlobal

✅ Contract Address: 0x8C851d1a123Ff703BD1f9dabe631b69902Df5f

✅ Pancakeswap: https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x8C851d1a123Ff703BD1f9dabe631b69902Df5f97

VIETNAM COIN MARKET COMMUNITY INFORMATION:

Website: http://vcmcommunity.online

Medium: https://chocoin-vn.medium.com

Youtube VCM: https://www.youtube.com/c/vietnamcoinmarket

Youtube AI: https://www.youtube.com/c/angelinvestorcommunity