BSC Station AMA Recap

02 Sep 202006:08

AMA

BSC Station AMA Recap

Cryptodiffer Team

Hello, everyone!😁

We are glad to meet here
Scofield, Project Founder, (@Soldier09)

Scofield

Hello everyone, nice to be here tonight. I'm Scofield, BSC Station Project founder. Thank you Cryptodiffer for hosting today's AMA.

Cryptodiffer Team

Let`s start from the introduction questions!
Q1: Can you introduce yourself to our community?

Scofield

tks so much bro
Nice to meet you all, it would be great to be here today. My name is Scofield. I am a long time blockchain and crypto currency enthusiast 2017. I have more than 4 years of research and working in the field of blockchain and cryptocurrency. Over the past 2 years, I have focused on researching DeFi products and developing NFT products by applying blockchain technology. I used to start a business with my friends from a domestic game studio with strong experience to lead projects successfully. It is through these experiences and resources that help me develop and realize blockchain technology in practical applications

Cryptodiffer Team

Thanks for the introduction!
Q2: Can you briefly tell us what is BSC Station in 3-5 sentences?

Scofield

Owesome! BSC Station (BSCS) aims to build a Full-Stack DEFI with NFT Auction on the Binance Smart Chain. It will become economy infrastructure for DeFi and NFT powered by Binance Smart Chain. BSC Station (BSCS) provides a ultimate solutions for DeFi and NFT.
The architecture of BSC Station includes the below major two components. BSC DEFI including: Swap, Startpools and BSC NFT including features: Auction, Transaction, Price discovery and Treasury
We believe that communities are important contributors to solving the problems that remain in the digital asset market. BSCS believes that with a quality ecosystem, determined by the community, a transparent and optimal operating model will be the best destination for users.
BSCS provides the ability to issue new assets Pool at the lowest cost and create highly liquid capital pools through our platform. There are no restrictions on the initial price nor the ratio of funds and tokens supplied.
BSCS is both NFT and Project startpool; It is the incubator for the development of new projects.
The BSCS token economics model introduces a membership system and a fee sharing mechanism. In addition to its governance functions, BSCS gives holders trading fee discounts and IDO participation allocations and token Hodler airdrop. The system’s entitle holders to trading fee dividends and membership rewards, as well as the BSCS holder benefits.
Tks so much for second question

Cryptodiffer Team

Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans

Scofield

it is great question. By operating on top of existing blockchains like Binance Smart Chain, the team wants to provide maximum value to both consumers and institutions. Make no mistake about it: both DeFi and NFTs are of increasing appeal to institutional clients. Ensuring those users can enjoy the optimal experience is paramount for both DeFi and NFTs to reach the next stage of mainstream adoption. Currently, BSCS Swap product is ready to launch, and NFT product will be completed in May included: NFT Auction, NFT Blind box, NFT Trading.
To expand the BSC Station vision, the team will launch its Swap, DeFi startpool, and NFT staking in Q2 of 2021. In the same period, the team will also introduce the NFT auction features, something many community members are waiting for. Later this year, the NFT and DeFi vaults will be introduced, along with mobile apps for both iOS and Android. The second version of BSC Station is scheduled for release in Q1 2022.
The team making all of this possible has plenty of experience in the cryptocurrency and blockchain world and other industries. It is crucial to have many different skills under the same roof to bring out the best of decentralized finance and NFTs. With multiple advisors’ help, the 12-person team combines talent from universities, financial firms, fintech, DeFi blockchain projects, and the cryptocurrency industry.
tks for third question
😊😊

Cryptodiffer Team

Thank you for such detailed and interesting answers!
It is time to move to the community questions part.

Scofield

im execited for this part, many great question coming for us

Cryptodiffer Community

Ethereum is a very slow and high price tag for gas. Do the BSCStation team plan to partner with other blockchain networks like Polkadot or Binance Smart Chain?

Scofield

The majority of dApps are running on the ERC20 platform with high conversion fees and other fees very expensive. Besides, the block creation also takes a lot of time.
Binance Smart Chain is considered to be the ultimate solution. First, EVM compatibility allows support for Ethereum tools, with faster speeds and cheaper transaction fees. Second, thanks to EVM interoperability and programming, Binance Smart Chain can run on Proof of Stake, thereby increasing decentralization and community engagement. Furthermore, Binance Smart Chain is expected to combine the features of the DEX blockchain with smart contract functionality. From there, it helps developers to program and additionally interact on the blockchain. BSC can fully work even when Binance Chain is offline (Because this is not Layer 2 Blockchain, but independent Blockchain)
Finally, BSC has a huge ecosystem when backed by the world's No. 1 exchange Binance and ecosystem such as Trust wallet, Pancake, Julswap, DODO, ... All of that makes BSC becomes one of the most popular leading blockchains in the DeFi industry. That is why we chose Binance Smart Chain.

Cryptodiffer Community

Is it difficult to use BSC STATION in an existing infrastructure, do you have to follow certain rules to be able to use it?

Scofield

Our hardest part is creating a platform for users and community benefits. But with consensus and development efforts, we have integrated the sharing economy model to create more community value as possible.

Cryptodiffer Community

There are other decentralized exchange for swapping BEP-20 tokens on Binance Smart Chain. What has BSCS Swap done so far to complement what others have done and what special features distinguish BSCS Swap from existing decentralized exchanges on Binance Smart Chain?

Scofield

Swap is only 1 part of BSC station products, what we want to do is a full-stack platform which can provide users with excellent NFT+DeFi products. Thus, we are building more comprehensive ecosystem other than only swap.
BSC NFT Station SDK
1
The SDK will standardize all NFT assets related to the use of the Auction feature, providing a clear set of tools, documentation, and rules to help fair and efficient auction buyers and sellers.

2
BSC Smart Security (BSCSS)
BSCSS is a smart security contract of BSC Protocol based marketplace payment platform designed to make the NFT buying and selling of any good or service easy and protected.

3
Auctions
Auction is one of the most prominent features of the BSC Station platform. This is a highly efficient mechanism of realizing a resource configuration in the face of inadequate information. Auctions can be categorized into three types of procedures for auctions depending on the occurrence of a price development during an auction run and its causes.

Dutch auction - Partially driven by time
English auction - Driven by bidders only
Sealed bid auction - Single shot
4
Encryption algorithm
BSC NFT Protocol smart contract uses the unique encryption algorithm, encrypts all bids and ensures that all bids cannot be changed and encrypted information is irreversible.

5
Fixed-price contract
Fixed price can refer to a leg of a swap where the payments are based on a constant interest rate, or it can refer to a negotiated price point that is not subject to change under normal circumstances. NFT holder can sell their NFTs on the blockchain by smart contract of BSC NFT Protocol in the form of pending order and designate required for NFT.

Cryptodiffer Community

Many projects are just clones of existing ones, and an analogue of an existing one is created. Do you have different and creative qualities from those who look like you?

Scofield

Developing a new platform always requires a lot of research effort. We have learned a lot from our previous experience. We created an ecosystem of mutual support and DeFi, combined with NFT, created features that were very unique and different for the user. This is a platform for users to enjoy the benefits DeFi brings. Users can bid, buy and sell and earn many benefits from BSC Station.

Cryptodiffer Community

how do you harness the potential of the NFT many platforms haven't been able to tap into the full potential of NFT and digital arts, they just have it as a sign of symbolic value. How important is NFT to BSC Station?

Scofield

NFT is really trending topic now in the market, and i believe it will be more popular in the near future. We want to empower NFT industry with more practical applications and higher liquidity. Also, we will launch an NFT product quite soon with some famous IPs, Auction, Digital Arts from our Studio. Please stay tuned.

Cryptodiffer Community

Can you provide an overview of your tokenomics? Will the design of the token increase and decrease with the success of the platform, does it include any scarce pathways, such as equity, storage, or burning?

Scofield

You can see here for the details. Tokenomics is scientifically designed and ensures the sustainable growth of the project.
initial circulation only accounts for about 9% of the total token supply of the project.

Cryptodiffer Community

Liquidity, Transaction fees and slippage are always important factors in Finance services. How does BSC STATION solve the above problem to attract users?

Scofield

we build BSC Station on the BSC platform. Binance Smart Chain is considered to be the ultimate solution. First, EVM compatibility allows support for Ethereum tools, with faster speeds and cheaper transaction fees. Second, thanks to EVM interoperability and programming, Binance Smart Chain can run on Proof of Stake, thereby increasing decentralization and community engagement. Furthermore, Binance Smart Chain is expected to combine the features of the DEX blockchain with smart contract functionality. From there, it helps developers to program and additionally interact on the blockchain. BSC can fully work even when Binance Chain is offline (Because this is not Layer 2 Blockchain, but independent Blockchain). In addition, we have an ecosystem strong enough to ensure user satisfaction with the support of numerous existing Top funds and crypto communities.
I'm also pleased to report that we have completed the Code audit and that all smart contracts are in excellent condition to launch.
We have just finished seeding and private sale with more than 30 investment funds registered to participate and sponsor included: Morningstar, Spark DC, NGC, AU21, X21, Chain,...and money KOLs, Influencers around the world willing support. I believe that the project will be a huge success and bring a lot of value to the community

Cryptodiffer Community

What are the functions of BSCS tokens and how to make money? What is special about BSCS ?

Scofield

The benefits of BSCS Hodler? Here is a quick overview.

* FUTURE BENEFITS: There are many other benefits of BSCS Hodler that we are building and researching for early implementation

*GET FREE TOKEN: Hodlers holding BSCS token will receive another free token

*UNLOCK NFT AUCTION: BSCS tokens will be used to pay as Auction fee, transaction, and also for NFT access behind paywall.

*VOTING: Hodlers holding BSCS can vote to approve or reject projects on BSC Startpool

*SHARING TRANSACTION FEE: Hodlers holding BSCS will share transaction fees

*NFT gift: Those who holding sufficient BSCS will qualify
for NFT gift.

PAYMENT: Use BSCS as a payment method at the service points within BSCS ecosystem.

Cryptodiffer Community

What is the mission of BSC STATION in the competitive market of cryptocurrencies? And what marketing strategies are you willing to use to achieve greater adoption?

Scofield

1. We have strong user base in the local market, and we can leverage lots of local influencers to help us promote the project; 2) during our seed and private fundraising round, a lot of top global influencers are on board, and they can help us to spread project visions to wider ecosystem.
Many advanced features of NFT will be integrated on the BSC Station platform. Pls stay turned for launching date.

Cryptodiffer Community

Are you a global project? Can anybody use your services from anywhere?

Scofield

yes, we are! We are working now to establish more communities in addition to English group, including spanish, korean, turkey, russia, etc.
Welcome to join our community for more updates!
https://t.me/bscstation
and BSC Station ann channel: https://t.me/bscstation_media

Cryptodiffer Community

Thank you for your time

Scofield

tks so much for hosting AMA today. Cryptodiffer has always been a great community. Thank you very much for this evening. We will officially IDO on April 21 on a very popular platform. Details will be updated continuously. Please follow us to stay informed. https://t.me/bscstation_media