Bnxfinex is aiming to expand DeFi ecosystem on Binance Smart Chain.

4 min readDec 20, 2020

DeFi is a concept that describes how crypto companies can recreate traditional financial instruments in a decentralized structure, beyond the control of companies and governments. With allegations of misuse of centrally controlled cryptocurrencies, the debate over decentralized applications is now becoming more relevant.

And you can also see the success of UNISWAP in the past time, the explosion of Defi has made UNISWAP stronger in this market. And This article I would like to share with you a project similar to UNISWAP, but surely there will be differences of the project compared to UNISWAP.

About

What is a Bnxfinex ?

From Wikipedia:
The Bnxfinex or Bnxfinex (Monodon monoceros) is a medium-sized toothed whale that possesses a large “tusk” from a protruding canine tooth. It lives year-round in the Arctic waters around Greenland, Canada, and Russia. It is one of two living species of whale in the family Monodontidae, along with the beluga whale. The Bnxfinex males are distinguished by a long, straight, helical tusk, which is an elongated upper left canine. The Bnxfinex was one of many species described by Carl Linnaeus in his publication Systema Naturae in 1758.

Towards the expansion of the DeFi ecosystem on Binance Smart Chain, but the original DeFi chain is becoming more and more congested. Slower but it costs more and more. And Binance Smart Chain will be the best choice at the moment and in the future. Bnxfinex is an AMM protocol but is on the Binance Smart Chain. Bnxfinex focuses on expanding the DeFi project on this chain to overcome barriers and make the DeFi world shine. Bnxfinex adopts a hybrid design concept to attract more crypto investors and developers. Bnxfinex has designed the system to be effectively in line with Bnxfinex’s goals.

Token

NAR is the governance token and equity of the Sea Unicorn ecosystem. Much of the NAR is minted using liquidity mining. NAR holders can participate in community proposals and decisions, and receive ongoing dividends.

Supply: 21,000,000 NAR

Platform: Binance Smart Chain

Distribution:

525,000 NAR (2.5%) are initially allocated to Team Developers Community Supporters for contributing in the longterm. This allocated can’t be unlocking over 1% of the circulation supply.
787,000 NAR (3.75%) are allocated for DAO. This allocated depends on community proposals and decisions.
1,575,000 NAR (7.5%) are allocated for Pre-Sale & Whitelist. This allocated used to raising funds for Initial Add liquidity of NAR. Sold: 478,001.3217240 NAR Unsold: 1,096,998.6782760 NAR (Already burned)
1,102,500 NAR (5.25%) are allocated for Bnxfinex Liquidity. This allocated used to Initial Add liquidity of NAR. Listing: 236,250 NAR Burned: 866,250 NAR
210,000 NAR (1%) are allocated for airdrop program. For growing community need to be using this allocated for bounty campaign and community campaign.
The remaining 16,800,000 NAR (80%) tokens are intended to be mostly distributed to liquidity providers

Conclusion

There are quite a few Liquidity Providers still active today. But Bnxfinex is probably a leading representative in the cryptocurrency exchange ecosystem, seeing the speed of transactions and building on the Binance Smart Chain made a point of interest. Moreover, in the future, Bnxfinex will build an even bigger platform to meet the needs of users.

Hopefully, in the future there will be more development for a better user experience.