Last week, we have invited Roy Li, BXH evangelist, to have a deep-in talk with our community members in BXH Telegram group(t.me/BXH_global). He shared about the characteristics, advantages, and development plan, etc. of BXH. Check the following recap to find more information about BXH.
Host: Roy Can you introduce yourself to the community?
Roy: Hello! I am Roy Li, founder of Ruffchain. I am BXH’s consultant since the very beginning.
Host: Glad to have you here!
Roy: Glad to be here too.
Host: So let’s start our AMA!
The first question is:
“At present, the competition of DEX platform is very fierce. How does BXH stand out from so many products? What are the special advantages of BXH?”
Roy: AMM DEX SWAP is NOT a very competitive market, because no one can cover all the aspects. Like some focus on takers, while BXH focus on makers.
Some focus on USDT pairs, and we focus on HUSD pairs.
There are more than enough pairs, which means you can focus and grant incentive on some pairs and catch users eyeballed.
Different DEX have different coverage. That’s pretty much it.
Host: That is pretty awesome!
Let’s move to next question:
“What are the current products of BXH platform? Can you introduce the most popular products to the community?”
Roy: BXH is an AMM platform which is more friendly to makers (LP).
0.2% out of 0.3% swap fee goes to LP, and 0.1% will buy back BXH , half burnt half to DAO.
There is no tax or team reward open swap fees.
Only benefit for development team is the 10% reserved tokens, which emission starts 30 days after launch, and the emission lasts 48 months.
It is a fair swap. If you take top exchange platforms as banks, we are more like credit union.
Host: That is actually very fair.
“We know that since the official launch of BXH, there have been many liquidity pools on line. Can you introduce our community about the projects with high mining income?”
Roy: BXH ones has high yields are relatively stable price, like BXH / USDT , BXH / HUSD.
You earn 1% per day while the price remain constant for days already.
Next question for you is:
“What are the characteristics of BXH in economic model design?”
Roy: Like I mentioned, we value fairness over monetary. The team reserve small percentage with slow & late emission.
We adjust emissions on each pairs to make sure we have fair incentive to all users.
For example, FIL is currently volatile , we all know that.
Fear of IL, users tend to withdraw FIL liquidity.
We might need to increase emission to create a better outcome for users who remain in liquidity mining.
Each day I have to do analysis on all the intelligence and submit my advise on emission change.
Host: Sounds good!
“We understand that BXH attaches great importance to DAO community governance, so what role will DAO play in the development of BXH in the future? How will BXH implement the DAO governance?”
Roy: DAO is very important especially for DEX like us. I said we are like credit union or non-profit organization. So in order to organize the contents & resource.
We need DAO.
We are still in early stage (2 weeks) so most of the decisions are done by internal team at this point, but we will have a voting system to vote on critical changes, like fees, listing, emissions etc.
Host: Looking forward to it.
Next question from the community:
“What is the future development roadmap of BXH? And what is the specific orientation and direction?”
Roy: First , there will be BSC cross bridge shortly, but it will take time before we are ready to cross onto BSC. We will have more features like our “proof of burn” event on new tokens listed like Pancakeswap’s IFO, we let users burn BXH to acquire new tokens.
Hopefully you will see new features within this month.
Next question for you is “At present, which step has the BXH project progressed to?”
Roy: I am not really sure because as a consultant, I have limited access to the development. But as a user, I would rate 75 out of 100. The user experience overall is smooth, however, we lack some core features, the info page is not 100% complete, or so.
Consider we are only 2 weeks from launch, it is acceptable.
Host: Got it.
“There are many compelling Defi projects on Heco, such as MDex. So what is the positioning of BXH on Heco? How will BXH interact with other Heco projects?”
Roy: I don’t take MDEX as an enemy or competitor. We compliment each other.
Some pairs would fit more with us, while some might fit more with them. They encourage takers where we encourage makers.
For other projects, there will be definitely more than 10 projects we will be deeply involved.
Like converter, PTD, EDC, solo.top, they allow users with different objective (single token mining) to access our liquidity mining pool and receive rewards from their gateways, PTD(Pilot) even provide leverage.
There will be more projects in near future, we will see.
Host: Nice. Next question.
“For Heco, what changes can be brought about by the addition of BXH? What is the impact of the combination of the two?”
Roy: BXH or any alternative DEX other than MDEX is necessary for Heco.
Heco is a good ecosystem for users who need to trade, borrow, lend , yield farming.
But in order to keep them active, you need more projects, and with synergy in between those projects, the ecosystem can grow exponentially.
You will have 100x size when you have 10x projects.
Host: The last question for you is:
“What’s your thoughts for the future of DeFi?”
Roy: Defi is pretty solid right now comparing to last year, but Defi still lack infrastructure, we only reveal less than 1% of the Defi’s true power.
We have developed lending & DEX, but our derivatives products are still unsophisticated.
the methodology need to change, like from AMM to PMM or other MM.
I am looking forward to future innovation, I have every confidence that in next 3–5 years when Defi face Cefi , the choice is pretty clear.
Thanks, that’s it for today.
Host: Thanks a lot Roy.
It was a very informative session!
It was great having you here!