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Author Topic: What is BEXT (Byte Exchange Token)? Understanding It's Potential.  (Read 469 times)

juniperion

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The Story of BEXT



Bext is a utility token of the Bytedex Ecosystem. It is the main transaction unit of Bytedex.
It was created as 1 billion units for ICO. 90 million units of them were allocated as team share, reserve, and marketing budget.
They were locked until 2025. Rest of the unsold tokens was burnt at the end of ICO.
It was created as TRC-20 format and converted to BEP-20 version later on.​
So, Bext total supply is 311,951,756 units.

Utility Features

Bext has many utility features as an exchange token. Alongside other exchange token functions such as commission discounts, privileges on pre-sales, the staking features of BEXT offer the opportunity of obtaining regular cash flow like a shareholder of the Bytedex ecosystem.



Byte Exchange shares %50 of net profit with BEXT holders who locked BEXT tokens on the staking platform. Byte Exchange buys Bext from the market regularly and distributes it as a reward. BEXT rewards are paid for real money!

There are 7 different lock pools on the staking platform, 7-30-90-180-360-720-1080 daily, and each pool shares the prize in proportion to its weight.
Rewards are allocated to users on a daily basis but are credited to their accounts at the end of the lock period.
If you want to unstake before the lock period, you will lose the reward you earned and your rewards will return to the pool you were in.

The staking feature is unique with these elements in the world. Rewards are determined by the algorithm which evaluates daily net profit, daily Bext price, total Bext token on the staking pool, and your share of the total pool. There is no fixed APY because of these parameters.

For giving example; think about 10k BEXT locked on each pool.

If the daily reward is assumed "k" for 7 days, you will earn each day;

2k for 30 days​
3-4k for 90 days​
5-6k for 180 days​
6-7k for 360 days​
7-8k for 720 days​
9-10k for 1080 days.​

(These calculations are for just seeing the difference between locked periods.)

Future of BEXT

Bytedex will launch the Byte Chain blockchain in the first quarter of 2023. Bext will be the native coin of Byte Chain. Bext is a requirement everywhere in the Bytedex Ecosystem.

​About Byte Exchange
m.youtube.com/watch?v=Yu-COzYhGkk&feature=youtu.be

You can buy Bext on Byte Exchange
https://exchange.bytedex.io/trade/BEXT-USDT

Bext contract adress: 0x72A634a80D7Dd48f83785BcD04Fc603418f99ef7

Website: www.bytedex.io

Byte Exchange: https://exchange.bytedex.io/

Staking Platform: https://stake.bytedex.io/

Twitter: @ByteExchange
« Last Edit: February 04, 2023, 07:18:43 PM by juniperion »
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juniperion

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Re: What is BEXT (Byte Exchange Token)? Understanding It's Potential.
« Reply #1 on: January 03, 2023, 01:05:21 PM »
The most of staking platforms offer you unlimited tokens or reserved tokens for reward. You believe that these tokens will be valued in the future. This is a promise, wish. It may not happen too. These tokens are at out of circulation. So, they haven't been valued yet. They also expand circulation. Inflation occurs. Next step is consistant sell pressure.

Bext token has about 312 million fixed supply. Except reserved tokens, all Bext tokens in circulation were sold during ICO. These are paid tokens. They have real value. People paid real money for them. Unsold tokens were burnt.

Byte Exchange buys Bext tokens from market, from people who have already paid money before. Staking rewards are Bext tokens which purchased with profit (real money) of Byte Exchange. So, rewards have real value.

Byte Exchange is regular buyer of Bext tokens. It pulls out Bext token from circulation and distributes to people who staked Bext. People have to buy Bext tokens and lock on staking platform. All of these create shortage of Bext in the market.

The staking algorithm of Byte Exchange is mechanism of distribution of realized profit of Byte Exchange. This is super deflationary price mechanism for Bext tokens.
Technology enthusiast, crypto investor

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Re: What is BEXT (Byte Exchange Token)? Understanding It's Potential.
« Reply #1 on: January 03, 2023, 01:05:21 PM »
:)

 

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