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Last updated: Aug 14, 2023
BSC Station is an all-in-one decentralized finance hub, built on Binance Smart Chain. The platform operates as a decentralized exchange and liquidity pool, NFT auction, and marketplace, and DeFi launchpad, aiming to become a full-stack DeFi and NFT platform on BSC.
Since BSC Station is built on the BNB Smart Chain network, its users are not subjected to extra high gas fees on Ethereum.
BSC Station (BSCS) aims to build a full-stack DeFi with NFT auction on the BNB Smart Chain. It’s intended for users who value simplicity, security, and cost-effectiveness.
As a DEX it allows users to swap BEP-20 tokens across BSC or stake their holdings to liquidity pools to earn rewards in BSCS, the platform’s native token. BSC Station also works as an innovative decentralized IDO platform, BSC Station Launchpad, connecting prominent DeFi projects with investors.
Another distinctive BSC Station feature is the NFT Marketplace, enabling NFT Auctions on the platform and providing opportunities for NFT artists to mint, showcase, and sell their tokens. NFT Marketplace operates securely under BSCSS, a smart security contract of BSC Protocol-based marketplace payment platform.
BSC Station also features Startpools, a platform where quality NFT and non-NFT projects can distribute their tokens to a wider audience while allowing crypto users and investors to generate attractive returns in the form of new tokens. Every 30 days of staking will provide an additional token for farmers, after which they can trade tokens they have earned.
The BSC Station Exchange can be used to swap BEP-20 tokens on BNB Chain, its Automated Market Maker model allows the platform’s users to trade against a liquidity pool. The dApp allows liquidity providers to earn from fees BSC Station collects from trades. The current fee BSC Station collects from its users when performing trades is 0.2% from the amount of the trade, which gets split - 0.17% is returned to liquidity pools in the form of rewards for liquidity providers, while the remaining 0.03% is sent to the BSC Station Treasury to buyback BSCS tokens and burn them. The exchange is available on the BSC Station app under the “Swap” tab.
BSC Station Farms allow users to earn BSCS tokenized rewards by staking LP tokens in them. The Yield Farms BSC Station offers to its users are available under the “Farms” tab.
The project’s Start Pools allow NFT projects to distribute their tokens and farmers on BSC Station to generate returns in the form of those NFTs. Projects wishing to launch their NFT can reach out to the company via an application form available on its website. Users wishing to participate in the incentive can do so by navigating to the “Start Pools” tab on the BSC Station app and stake BSCS by following the instructions.
The BSC Station’s NFT Marketplace has three types of auctions - dutch auctions which are partially driven by time, English auctions which are driven by bidders only, and Sealed bid auctions, where bidders only have a single bit. Users wishing to sell NFTs on the BSC Station NFT Marketplace need to create an artist profile by navigating to the NFT tab in the dApp and going to its “My Artworks” subsection.
The BSC Station Launchpad supports both NFT and non-NFT token launches. It can be used by companies wishing to hold Initial DEX Offerings (IDOs) of their tokens in a decentralized manner through the use of a smart-contract-based DEX. Users wishing to participate in the program can do so by staking BSCS tokens in IDO Pools.
The company’s lottery and prediction markets can be used by navigating to the respective gambling product on the BSC Station app and following the instructions.
To interact with BSC Station, users need to connect a wallet, currently, the wallet BSC Station recommends besides MetaMask is Binance Wallet. Alternatively, users can use any wallet compatible with the BNB Smart Chain.
BSCS is the BSC Station native token powered by Binance Smart Chain and issued under the BEP-20 standard.
Users can earn BSCS from Farms and Start Pools or buy it on the exchange. The token is used for staking in Start Pools to earn free tokens, can be used in Farms to earn more BSCS as well as can be spent on NFT Marketplace. The BSCS token also allows its holders to vote on governance proposals regarding some of the BSC Station products.
The total supply of BSCS is capped at 500,000,000 tokens and has the following allocation: 12% went for a Seed sale, 25% for a Private sale, 1.6% for an IDO, 12% are kept for Farming and staking rewards, 8.4% is kept for marketing purposes, 10% is used to provide liquidity on various exchanges, 11% is kept for the development of the ecosystem, 5% was given to Advisors and Partners, while the remaining 15% went for the BSC Station team.
There are currently 13 developers working on the emerging BSC Station ecosystem. The founder of the project is Singapore-based J Scofield, who claims to be a blockchain and cryptocurrency enthusiast since 2017.
Aside from the developers listed on its whitepaper the BSC Station team features advisors with marketing, technical, and financial backgrounds. BSC Station audits can be found in the protocol dashboard on this webpage.
Since its launch, BSC Station is continuously expanding its range partnering with various DeFi and NFT projects, including Polkamon, PolyNetwork, Dotmoovs, Rage.Fan, My Defi Pet, GameFi project Cocos-BCX, PoS network Tomochain, e-sports gaming platform GamyFi, and the cross-chain hub ChainSwap. In May 2021, BSC Station was listed in the innovation zone on MEXC Exchange.
The development team behind BSC Station promises that over the course of 2022, the DeFi and NFT systems will be upgraded to new versions adding more functionality for users. BSC Station also plans to develop Megapool in 2022, its innovative product with instant and extremely large liquidity.
In addition, BSC Station is preparing to launch Prediction and Luckylott games, enabling users to earn assets while predicting token price changes or engaging with Coin Lottery.
https://docs.bscstation.finance
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Last updated: Aug 14, 2023
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