Currently I’m thinking of how recent crypto projects tend chose to launch on BSC. As of today, here is the number of token contracts on BSC and ethereum:
Ethereum: 454,238 token contracts
BSC: 1,197,934 token contracts
BSC is only 1 year old, yet it has more than 2x token contracts. It is clear that the main reason BSC is so popular today is because the transaction fees are so small that people are enjoying trading on BSC and its DEX-es. I have joined a telegram crypto groups whose members bought very small amounts of meme tokens on PancakeSwap. Just a few dollars to a hundred dollars worth.
Other good strategy by other projects worth mentioning is that they don’t depend too much on centralized exchanges. Instead they launched their project on PancakeSwap first. A good example is Flourishing AI which was launched on September 21, 2021. In only 5 days, its volume reaches $1,152,977 and the number of holders on chain is 8,205. Compare it to FX, which get $394,875 of volume on Uniswap and 4,944 holders on chain. Yet Uniswap trades is 7% of total volume of FX. Many centralized exchanges show very little volume compared to Uniswap.
My suggestion is FunctionX should expand their presence to popular non-ethereum DEX-es. Look for low fees. A good candidate would be BSC and PancakeSwap. DEX are gaining more and more popularity among traders. If we want to boost volume, being available on PancakeSwap is a very important step.
This would indeed be a perfect way to increase our reach.
I hope that with the BSC bridge being completed soon we will have access to a token parallel of FX & PundiX on the BSC network that can be traded on pancake.
The LP for this should ideally be the team at least for this initial phase as well.
@zaccheah Lots of other network altcoins got into PancakeSwap pools to promote their coin. Justin Sun’s TRON - TRX also did it.
They supplied liquidity so ppl can stake CAKE to farm TRON.
We can do it too, let FX be known to more users through the reputation of Binance / BSC. Like you guys always quote in your FX Website, you want to leverage on Ethereum’s ecosystem and not compete with it.
Now Binance Smart Chain, we can do the same also. Providing a small amount of liquidity for ppl to farm FX through CAKE staking. FX distribution and holders will be EXTREMELY diversified across ERC20, FXCore, BSC and soon Cosmos.
I kept mentioning it… Ethereum fees is more reason pundix and fx are stagnant. A lot of people want to buy, transfer, delegate , make use of functionx ecosystem but the fair of ETH gas fees make them throw there face aways and ignore it…
Availability of Trading alone can cancel marketing by 40% because people will get to know the project and coin that give them opportunity to farm or stake, also it can give Pundixlabs developers lesser questions from community, and more time to build and implement because people will be busy buying and staking or trading it…
And also, if you guys look at the statistics between Ethereum and Binance Smart Chain, the daily users between ETH vs Binance - Binance has like 11x more transactions than ETH and x10 more daily users.
Below is a chart of Daily Active Addresses. That exponential growth, FX / Pundi X will stand to benefit if we can transfer FX / Pundi X onto Binance smart Chain.
Also, this is an outdated stat since it is back in April. BSC has already surpassed ETH in every way. Amount of users, transactions and more are AT LEAST 10x more.
this ain’t gonna matter soon when we build our own DEX on f(x). FunctionX has already bridged to ETH and now BSC others will be soon. We should focus on the next blockchain to chain with. I’m saying Polkadot???
As you know yesterday f(x) Core had a silent upgrade to support BSC and by extension BEP-20, cross-chain capability will be activated if it passes governance voting, so please vote actively in mid Oct
I was going to make a post about this but since you’ve mentioned it, I thought I might go straight to you. Is there any way to bypass the governance vote for the BSC bridge as we all know it’s a mere formality. Their isn’t one investor that wouldn’t want the BSC bridge, in fact, we are desperate for that BSC bridge as you can tell by how we pulled together as a community to get you 500 Testnet BNB in one day. I know, in the long run, 2 weeks is nothing, but if its ready, and all you have to do is flip a switch so to speak, I just don’t find it necessary to vote on this because this is an essential part of the future of our blockchain and one that does not require any funds to be dispersed. Are you saying that every feature we develop will have to go to a vote? We market ourselves as a cross-chain blockchain and adding new bridges is an essential part of our blockchain just as the creation of Pundi Chain did not need to go to a vote because you probably deemed it essential or at the very least, beneficial. So on behalf of a bunch of loyal community members, respectfully, is there any way to turn on the BSC bridge when Pundi Chain launches on Oct. 13?
If new PR token can exist in both BSC and FX core, FX can exist in both BSC and FX core. With the experience from PR token implementation, it should be easy
