Gate.io AMA with Binary X-GameFi and IGO platform built on the BNB Chain

Time: Nov 11th, 2021, 13:00 UTC
Gate.io hosted an AMA (Ask-Me-Anything) session with Levyz, Head of global marketing from BinaryX in the Gate.io Exchange Community.
Official Website: https://www.BinaryX.pro/
Twitter: https://twitter.com/binary_x
Follow BinaryX on Twitter and Telegram

Guest

Levyz — Head of global marketing from BinaryX

Q&A from Gate.io

Q1: Glad to have you! So first let’s get to know you! Can you please introduce your project and your team?

Levyz: Okay. I’m Levyz, Director of Global Marketing from BinaryX.

I joined the blockchain industry in 2017.

BinaryX is a team with rich Defi and Gaming experiences, we would like to combine these two factors. So our main purpose is to make a GamingFi/PlaytoEarn Game on Binance Smart Chain. The name of our game is called Cyber Dragon.

Cyber Dragon is a Play to Earn Adventure Game based on BSC. This game is powered by BinaryX team. Players can create characters, collect rare equipment and challenge Dungeon. The final challenge is to defeat the ultimate boss, the Cyber Dragon. A hero will receive the dragon treasure house rewards by defeating the dragon.

Q2: Looks pretty cool! Can you introduce us to how to play the game, will it be more PVE or PVP focused? Where is the direction for the game?

Levyz: Both PVE and PVP will be introduced by our game. Now the players can join PVE, and the first PVP Mode will be launched in this month.

We have opened two dungeon adventures: Goblin Village and Ancient Battlefield.

We have good rewards for each dungeon: You can earn Golds or BNX by killing the Monster, and sometimes it might drop equipment.

For players, they can use their heroes to do daily jobs to earn the GOLD coins.(Passive Incomes everyday)

For the direction of the game. We have a clear Roadmap!

This month, our equipment system and treasure chests have been opened. The player battle system(PVP) will be launched later.

In Dec. and afterwards, the Union System will be live and we encourage players to form unions and battle with each other.

So welcome to join our exciting game metaverse.

Q3: So it seems like very exciting things to build! But I am guessing it has been complicated too. What’s the challenge for your project and what have you achieved right now?

Levyz: The first step is most difficult for us, we start from zero Twitter followers, and a few months later, the Cyber Dragon game has 80K followers and 52K telegram members. 550k+ Cyber Dragon Heroes have been recruited, and 60k+ Token holders. The daily active users ranked top3 in BSC and top 10 in all games. The most expensive hero NFT was sold for more than $30,000.

All these achievements are obtained within 3-4 months, I think this is pretty amazing!

The second challenge is the gamefi token economy of the project. As a play to earn game, it is very important to balance the whole tokenomics system. Otherwise the inflation problem will cause the price of our token to fall. I have to say we are doing very well in terms of the whole economic system. We have a dual token mechanism and it works quite well.

Q4: Can you tell us the motivations and benefits for investors to hold your token in the long term? How to capture value?

Levyz: Cyber Dragon has a dual-token economic system of BNX + GOLD. We have a well simulated dual-token system, just like Axie, they have AXS and SLP. I think a dual token system is needed to balance the whole economy.

BNX has been listed on Gate for a while, and the market performance is still good.

BNX is Cyber Dragon’s governance token. BNX token holders can participate in community governance. Some key operations of the game require consuming BNX tokens, such as creating heroes.

GOLD is the main currency in the game. GOLDs are 100% earned by playing the game.

Golds can be used in most consumption scenarios in the game. For example, heroes need to consume gold to upgrade; Gold is required for expenses when challenging dungeons and preparing for the equipment.

We also have a Dynamic Mining Ratio mechanism for Gold. When the price is low, the production rate will be reduced.

All these mechanisms are for the long-term benefit of our players, we want to help our players to earn daily incomes from playing this game for a long time.

Q5: Ok, very direct use case. And to wrap it up before we move on to questions from our audience…While the gaming sector is booming exponentially; there’s only a fraction of people who understand and play NFT-based games. How does the team plan to tackle this? What’s your plan to bring non-crypto-natives into your ecosystem?

Levyz: We think Gameingfi is part of the eco. of the metaverse world.

Web3 is the big picture, and more Top gaming companies have noticed the trend and they start to enter this field. BinaryX is lucky because we are more early.

For Non-crypto natives, the game should be easy to play, and the most important thing is they will be attracted by the play to earn a model and complete ownership of their in-game assets as NFTs.

Use DeFi for game players to cash in and earn extra incomes.There are lots of incentives for them to come into this ecosystem.

The web3 wallet tutorial and user guide are necessary for non-crypto-natives a better understanding of the whole game.

We would like to make our best efforts to help more people to join this fantastic world.