What is BinaryX?
BinaryX token or BNX is one of the native tokens of BinaryX. The latter is a GameFi platform housing games like CyberDragon. BinaryX is deployed on the Binance Smart Chain while the BNX token is based on the BEP-20 token standard.
BNX has several use cases. It serves as a medium of exchange within the BinaryX platform. Most importantly, BinaryX coin holders receive governance rights. This means they can cast their vote on major proposals that could change the entire BinaryX project.
Besides BNX, Binary X is powered by two sub-tokens called Gold and Crystal. They are both used for in-game purchases such as dungeon tickets or treasure chests. Gold also allows players to level up their characters.
It has a max cap of 21,000,000 BinaryX tokens. This means that as the token becomes more scarce, it’s possible it will increase the BinaryX price.
You can have a more in-depth look at the details of the token and the current BinaryX price on the graph above.
What are the Main Features of BinaryX?
BinaryX is a GameFi platform operating on a Proof-of-Stake (PoS) consensus mechanism. As of July 2022, BinaryX provides a single P2E game called CyberDragon.
To start playing, you must recruit an NFT-based hero. This can be done by depositing a specific amount of BNX or BUSD. All heroes come with pre-determined attributes:
- Strength represents attack power when dealing physical damage;
- Agility represents reaction time, balance, flexibility, and coordination. It’s a crucial attribute for rogues and rangers;
- Intelligence is related to magic. It represents the spells a mage is able to cast, their power, and damage;
- Willpower represents pain resistance;
- Spirit determines mental power. High spirit means high resistance to magic as well as increased magical damage dealt to the enemy;
- Constitution is the player’s health.
There are 5 types of heroes:
- Warriors are responsible for protecting the team. Their high stats in strength and constitution as well as skills in taunting and guarding make them great defenders. Warriors fight with one-handed or two-handed weapons and defend with light or heavy shields;
- Knights are defenders with a unique Aura ability. It enables knights to provide buffs to the entire party or a single member;
- Rogues are agile fighters skilled in dodging enemy attacks. They can even steal from the enemy and provide for their team;
- Rangers use their bows to attack from a distance. They’re also capable of setting up traps for an ambush on the enemy. They have high strength, agility, and constitution;
- Mages are skilled in AOE damage and boosting team stats. They have high intelligence and mental power. Besides being useful in battle, mages are also capable of enchantment. They enter battle with magic staffs in hand and only wear robes. This means that their defense is low;
- Priests are a crucial part of the team due to their healing capabilities. They have high intelligence, willpower, and mental power;
- Druids are offensive team members with magical capabilities that excel in survival. They have high intelligence and constitution.
One hero is needed to enter a small dungeon while at least two heroes are needed to enter a large dungeon.
Once you have a hero, you can participate in daily mining, clear dungeons, or enter the overlord’s arena. This way you can earn in-game cryptocurrency Gold or Crystal. Gold will allow you to level up your character while Crystal allows you to recast your equipment.
When it comes to the security of the project, the BinaryX crypto project has gone through an in-depth audit by Certik. It scored a total of 83 points out of 100.
Before jumping into BinaryX, please make sure to do your research. You can start by checking out the BinaryX price history on the graph above.
Who Developed BinaryX?
The official date and the founding team of the BinaryX crypto project are not made publicly available. However, their first game, CyberDragon, was launched in the August of 2021.
According to the BinaryX whitepaper, the core team of BinaryX consists of individuals from Silicon Valley, BNB, and Polkadot.
