BTCNEXT is expanding the ecosystem within the launch of its own token called BNX. An exchange token gives a huge advantage to its native exchange - there's an incentive to hold it because its price is considered to be tied to the performance of the exchange. In addition, exchange tokens can be used for many purposes - from paying fees to buying other tokens.
There's only one issue - getting a license can be a very complex thing for many exchanges, but not for BTCNEXT. The owner of BTCNEXT is Noah Ark Technologies, and it has a CEZA license.
Why CEZA license.
CEZA (The Cagayan Economic Zone Authority) is a corporation, controlled by the government of the Philippines, and its main duty is the development of the Cagayan Special Economic Zone and Freeport. This zone always welcomes prominent fintech companies that may add to its economic growth. Owning CEZA license allows Noah to provide various services, related to cryptocurrencies, and BTCNEXT is one of such cases. The license is called “Offshore Virtual Currency Exchange Provisional Regular License” and it covers all aspects of operating a crypto exchange, including IEO organization and token issuance. That's why the BNX token is totally legal.
BNX token - a new phase of BTCNEXT’s growth.
BTCNEXT is a crypto trading platform of a new generation, developed by Platinum Q DAO Engineering. It’s very friendly to Korean and Japanese customers and it offers a large variety of popular coins, tokens, and stablecoins. Among these stablecoins are featured USDQ and KRWQ from Q DAO project, also developed by Platinum Q DAO Engineering. Q DAO ecosystem is a family of decentralized Bitcoin-backed stablecoins.
BNX is the main utility token of BTCNEXT, and it has various use cases for its holders. BNX can be used to pay fees for trading and listing with up to 50% discount, also it gives access to special IEOs, unavailable to other users. Simply holding it also has its benefits: BNX owners can participate in Lottery events and Trading competitions, as well as receiving Airdrops from partner projects, according to BNX amount on holders’ accounts. It can be used to pay for blockchain courses from BTCNEXT Academy or to buy tickets to conferences and blockchain events, or to private meetups, visited by industry leaders.
BNX token currently runs on Ethereum chain, it’s an ERC20 token, in the future, it will be transferred to its own blockchain. The max supply of BNX is 500,000,000 tokens. 350,000,000 of this amount will be used as gas for BTCNEXT ecosystem. Only a small part of the supply, 15,000,000 will be sold to the public during the multiple rounds of a public sale, and the reward for the team, the remaining 150,000,000 tokens will be locked up for 18 months, becoming a reward for the team. The initial price for BNX will be equal to $0.1. BTCNEXT plans to reserve a part of its profits every quarter to buy and destroy BNX tokens, and in the end, half of the whole supply, 250,000,000, will be destroyed. It will be a good incentive for BTCNEXT users to hold BNX.
We build the BTCNEXT exchange and its ecosystem like construction workers build houses, brick by brick. You feel a sense of pleasure when you see that somebody lives in a house you've built.” - Platinum Q DAO Engineering.
BTCNEXT exchange, the next generation spot and margin-trading platform, has been developed by Platinum Q DAO Engineering, which has also brought USDQ and KRWQ to the market, looking to edge together innovative solutions in collateralization. They plan to achieve it by using stabilizing mechanisms and neural networks for high-endurance stable coins.
The one aspect of USDQ and KRWQ which makes them unique is that these stablecoins are decentralized. Every Q DAO stablecoin has Bitcoin as a collateralized cryptocurrency debt backing up the value, instead of a centralized authority holding dollar bills, as in the case of Tether (USDT).
In order to protect investors’ funds, BTCNEXT developers have implemented more than 300 security measures. In the near future, users will be able to trade over a hundred types of tokens including Bitcoin, Ethereum, and Litecoin. To learn more about BTCNEXT, visit the exchange’s official website and follow it on Twitter, Instagram, Telegram, Facebook, Medium, and LinkedIn.