Topic: [ANN] [BMC] BAXE - Blockchain Powered SuperApp - Introducing Web3 to the Masses (Read 136 times)

We're excited to announce that on March 21, 2022, we'll be launching our first community bounty campaign. Community members will be asked to to complete various tasks to help spread the good word about our project, and the first 1,000 to complete all the tasks will receive 100 $BMC tokens!

We'll be publishing the bounty campaign tasks at 12PM (GMT+10) on March 21, 2022, so be sure to follow us on Twitter, join our Telegram, or sign up for our mailing list to be among the first to be notified!

No, we haven't launched the token yet. We're aiming to do a public token sale around May of this year, in addition to the public beta of our app. In the meantime, we have some contests and community programs that we'll be spinning up soon. Be sure to check out https://baxe.com/token-sale.html and sign up for updates, and join us on our Telegram at https://t.me/BaxeCommunity

Calling all security and UX enthusiasts! Want to see what the future of blockchain apps looks like? Claim your seat for our free webinar!

Join our CTO Dylan Blankenship and leaders from @IDEMIA @Haventec as they share insights on building a web3 app: https://marketing.haventec.com/webinar-registration

Token Sale Waitlist: https://baxe.com/token-sale.html
Whitepaper: COMING SOON

Telegram Community: https://t.me/BaxeCommunity
Telegram Announcements: https://t.me/BaxeAnnouncements
Medium: https://medium.com/@baxe_app
Twitter: https://twitter.com/BaxeApp
Facebook: https://www.facebook.com/BaxeApp
LinkedIn: https://www.linkedin.com/company/baxe
Instagram: https://www.instagram.com/baxeapp
Reddit: https://www.reddit.com/r/BAXE
 

OVERVIEW

BAXE (Blockchain Augmented Exchange) combines lifestyle with token-driven financial services into a single SuperApp. This innovative concept aims to revolutionise the way people transact and communicate with each other on a day-to-day basis.

The BAXE platform will offer various financial tools to users such as P2P payments, a stablecoin, a utility token, social media and communication facilities, developer tools, and a marketplace. BAXE will also provide leading product offerings like:

• Decentralised Finance
• High-Interest Yield Products
• Custodial Services
• Secure Online Storage
• Debit Card Facilities
• Domestic and International Remittance Services
• B2C and B2B
• Social Media and Messaging
• Ecosystem of Partner Apps

Fundamental to the platform is the BAXE Stablecoin (BSC) and the BAXE Market Coin (BMC) - the utility token of the BAXE ecosystem.

The BAXE ecosystem aims to provide users with a comprehensive suite of services that enhance their digital lifestyle including, secure communications, embedded next-generation financial services and access to e-commerce goods and services. The BAXE platform is being built with user engagement and interaction in mind. Our platform will revolve around our core values: transparency, accountability, trust and governance.  

Everything you love about the Internet…  

With the security that only comes with blockchain technology!  


PROBLEM

There is increasing anxiety and fear for privacy, security of personal information and the power wielded by the tech oligopoly. This has resulted in a digital economy ruled by just a few major players who dictate who can participate and at what cost.​​

Lack of Transparency & Flawed Corporate Governance

Most financial services customers engage with on a daily basis offer limited transparency. While some function very well, fundamental failures in institutions due to poor governance and unethical actors have been all too common and arguably inevitable. This happens as only company insiders truly know what is going on within the company and how it operates.

High Costs & Inefficiencies

There are a number of costs involved in making payment transfers. According to the World Bank, remittances typically cost 6.4% of the transaction amount. Excessively high fees highlight a significant problem in payment transfers. In addition, the lack of standardisation regarding payment transfers across international borders makes the process slow and costly. Furthermore, the services of some payment service providers (PSP) have a steep learning curve for many users to engage with them properly which often leads to payment errors and failures.


SOLUTION

BAXE provides a unique digital experience that is entirely within the control of the user. Advanced biometric technology ensures data, digital assets and communications are protected, private and secure. BAXE uses distributed ledger technology to facilitate the transfer of digital currency and assets throughout an ecosystem of products, applications and services built by third-party developers.​

Transparency

Trust, openness and transparency are core tenets of the BAXE ecosystem. Through the use of blockchain, BAXE is able to provide transparency to its users, with transactions recorded on its Distributed Ledger Technology (DLT) layer which are immutable, secure and verifiable. This allows for all partners and participants to be equal stakeholders in the ecosystem.

Security

BAXE combines various technical layers to assign digital identities to its users and ensure reliable security. BAXE has implemented an elaborate Know-Your-Customer (KYC) process through biometric, contact and digital identity verification in conjunction with strong encrypted passwords to ensure the authenticity of your profile. By assigning a ‘BAXE Digital Identity’ for all users, we create the opportunity to attract the ‘unbanked’ users of developing countries who may not have access to traditional verification documents. In such cases, our ‘BAXE Digital Identity’ will help create verified identities for all users and also establish trust between different BAXE users engaging in transactions.

Low Transaction Cost

BAXE will facilitate transactions within the BAXE ecosystem and the external economy at a minimal cost. We improve the user experience by reducing the complexity of transactions, cutting costs on transaction fees, and providing rewards through our BMC token staking program. This is especially beneficial for users who make microtransactions as losing money on every payment can turn out to be extremely costly for such users. BAXE essentially removes the middleman and uses blockchain technology to provide quicker and low-cost payment services.

Ease of Use

The BAXE platform aims to provide simplicity to its users without compromising on their privacy, security or civil liberties. BAXE allows users to make payments instantly with a simple tap or a scan (QR code or NFC) on the mobile app.


INTRODUCING THE BAXE MARKET COIN (BMC)

BAXE Market Coin (BMC) is the native market token of the BAXE platform. BMC is an ERC-20 standard token built on the Ethereum blockchain. Allowing holders to speculate on the market value of the instrument or stake within the BAXE network to earn network rewards. The BMC token will be available on both centralized and decentralized exchanges (e.g Uniswap).

The BMC staking facility provides price stability to the BMC token, drives expenditure back into the BAXE ecology and incentivizes stakers through the Network Reward Scheme (NRS).  

In order to engage in ‘staking’, the BMC holder must open an account on the BAXE network and acquire a BSC wallet. A qualified BMC holder can elect to participate in staking of BMC (with a minimum lock in period of 6 months). This will entitle the staker to:

• Participate in the NRS (after 3 months) – this may result in the issue of reward BSC redeemable within the BAXE platform.
• Engage in governance functions by accessing the DAO system (after 6 months) including:
  
  • Participating in certain specified decision making processes.
  • Bringing resolutions for particular categories of operations.
  • Obtaining access to operational information in relation to the BAXE foundation and ecology operations and ecology transaction volumes.
  • The BMC holder will need to verify holdings at the time of receiving any benefit or exercising any right.

BMC TOKEN SALE

1,000,000,000 BMC tokens will be created through a token generation event (TGE).
Total Raise: $20M

Date: Q2 2022 (more details to be announced)

25% - Will be sold via presale, private, and public crowd sale
15% - To be allocated for ecosystem rewards
15% - Will be invested into a high interest bearing account and the investment dividend will fund the BAXE Network Reward Scheme (NRS) in the first 3 years of operation
18% - Will be locked and distributed to the BAXE team, Advisors, and other Contributors
27% - Will be reserved

Some of the conditions applying to the initial token allocations are as follows:

• Team and advisor tokens will follow a 3 year vesting schedule - comprising a12 month cliff and quarterly vesting thereafter.
• Seed investor tokens will unlock 5% at TGE, followed by a 2 month cliff and then a 16 month linear unlock
• Private investor tokens will unlock 10% at TGE, then equal distributions over subsequent 12 months

BAXE STABLE COIN (BSC)

A key component of the BAXE network is the BAXE Stable Coin (BSC). The BSC token gives users the ability to interact in the BAXE network in a secure manner using digital currency. In its initial iteration, BSC will be backed 1:1 with fiat currency. Future iterations will include multivalent value references including fiat currency baskets, real estate, commodities and precious metals.

BSC can be purchased and sold for fiat with ease in the BAXE ecosystem. BSC is based on a permissions blockchain and therefore will be operable only on the BAXE platform as it will not be listed on any external public exchanges.

The BSC token will be integral to every function of the BAXE ecosystem including payments, chat, social media and more. Moreover, the BSC token holders will be able to transfer funds to external accounts in fiat currency. No fees will be incurred in Peer-To-Peer (P2P) transactions on the BAXE platform.

All BSC token holders who also own BMC tokens will be entitled to receive rewards in the form of BSC tokens.

The holders of BMC tokens will be encouraged to lock their share of BMC tokens out of the circulating supply by providing them yield based on the quantity of tokens they hold and for the duration which they hold them for. This again helps provide price stability to the BMC token and ensures rewards for all investors.


TECHNOLOGY

The BAXE system is built on a combination of Hyperledger BESU protocol and Ethereum. Specifically, BMC is built on Ethereum fabric and BSC is built on Hyperledger BESU.

The BSC Stablecoin and BMC Market Coin are ERC20 compliant tokens. BMC will be launched on the Ethereum main net and listed on public exchanges in Q2 2022.

Ethereum is underpinned by a Proof of Work consensus engine. From 2022 onward, BAXE will be supported by Ethereum2 which will be underpinned by a Proof of Stake system. BMC transactions on the Ethereum network will be subject to GAS fees.

The BAXE system has been designed as a DApp on blockchain protocol and may be moved to new protocols as the technology develops. The Hyperledger BESU protocol was selected because of its inherent scalability and ability to support finance grade applications.


TEAM

Christian Moore – Founder, CEO (https://www.linkedin.com/in/christian-moore-86791586/)

Christian’s vision is for a fair and equitable digital economy that maximises participation, autonomy and opportunity for all members of the global community. Christian believes that digital currencies and DLT technology are the catalysts for such a transformation.
 
His acting role as the CEO of Future Currency Group (FCG) allows him to spearhead this vision through the launch of the BAXE platform, a super app featuring a decentralised blockchain ecosystem. BAXE provides users with unique payments, banking, communications and storage features all with built-in privacy and security. Christian comes from an extensive background in law, business, economics and entrepreneurship. Leveraging his experience, Christian also speaks at industry events on the topics of blockchain applications, developments, implementations and opportunities across Australia, Asia and the Middle East. Christian has played a major role in shaping industry led research initiatives through the blockchain CRC initiative. As a pioneer for the Cooperative Research Centre (CRC) for the Australian Blockchain Superhighway and the AIDT, Christian shares his expertise through collaboration with leading institutions, academics and industry partners in the blockchain space. Christian is also leading the development, promotion and regulation of digital currencies utilising blockchain banking technology through the establishment of the supranational organisation known as the International Council of Virtual Economies (ICVE). ICVE aims to address the role of governments and holders within digital currency transactions by assisting in the development of a regulatory framework.


Andrew Broad – CEO (https://www.linkedin.com/in/andrew-broad/)

A passionate leader and innovative business strategist, Andrew has held executive positions with industry leading financial organisations such as JP Morgan Chase, Citigroup, Macquarie and BMO Capital Markets.

We are witnessing a digital transformation propelled by emerging technologies. Andrew’s experience has placed me in a prime position to capture these opportunities. As a technology leader, VC advisor and innovator, he has led the strategic development of technology for Prime Property as CTO as well as Chief Product Officer for Juawai.com. Andrews’ current role as Chief Operating Officer for Future Currency Group (FCG) is inspired by his appreciation for innovation and entrepreneurship within the financial services sector. As a lifelong learner, he has completed executive programs with Said Business School, Harvard Business School and Columbia Business School in addition to his MBA from MGSM.


Ben Lightfoot – CMO (https://www.linkedin.com/in/benlightfoot/)

Ben’s 20 year career in advertising and communications spans across extensive executive and agency experience. He has been positioned at the helm of a wide variety of organisations, from small startups and boutique independent agencies to large multinationals throughout New Zealand, Australia, New York, London, Paris, Singapore & Indonesia.

Enacting powerful transformations within these executive roles, highlights of Ben’s senior management experience have included the roles of CEO of McCann Worldgroup Singapore and Group CEO of Publicis Advertising and Saatchi & Saatchi Indonesia. As the Asia Pacific Head of Advertiser Marketing at Facebook, Ben spearheaded the digital transformation of global brands and was involved in the cutting edge of business and marketing, witnessing the impact of data-driven innovation. Ben’s experience extends beyond his work within agencies. As a global thought leader and passionate creative strategist, he has lent his skill set to several boards across the serving as the Singapore Chairman of Effie Worldwide, an executive council member of the Institute of Advertising Singapore and board advisor for the not-for-profit organisation, Keep New Zealand Beautiful. In addition to Bwn's numerous years of experience within advertising and communication, he also holds a Bachelor of Design from the Unitech Institute of Technology and a Bachelor’s in Advertising Creativity from the Auckland University of Technology.


Dylan Blankenship – CTO (https://www.linkedin.com/in/dylanblankenship/)

With over 15 years experience leading technology driven innovation across Asia Pacific, Dylan is currently leading Future Currency Group’s BAXE blockchain platform development as the Chief Technology Officer.

Dylan’s experience as a senior technology executive and entrepreneur stretches across fintech, blockchain and enterprise solutions. He has held executive positions as the Chief Product Officer for Red Pulse, the first platform deployed on the Chinese NEO blockchain as well as the Chief Technology Officer for Juwai.com, China’s largest real estate portal. In addition to Dylan’s executive roles, he also oversaw a portfolio of applications as an IBM consultant in Shenzhen, China. Augmenting his professional experience, Dylan is a current MBA candidate with the University of Cambridge, Judge Business School.


James Maher – CFO

As a highly experienced finance professional, James offers skills developed across many years of financial planning and analysis with leading American banks and brokers. He is currently serving as the Chief Financial Officer of Future Currency Group (FCG).

Through this role, James is able to leverage his experience gained through FinTech startups including OffRoad Capital, an online private equity platform, LOYAL3 Securities, an IPO crowdfunding technology platform and Red Pulse, a tokenized Research Ecosystem. Prior to James’ executive role with FCG, he was featured in Wall Street Journal’s “Best on the Street” in Specialist Retail and Services after he excelled as a publishing sell side equity analyst and hedge fund analyst. In addition to his professional experience, James graduated with an MBA from Berkeley Haas and he is also CFA Charter-holder.


Kerry Chan – General Counsel (https://www.linkedin.com/in/karry-chan-ba51b7aa/)

Karry brings a sound understanding of commercial and corporate law to the BAXE team while also offering an innovative approach to problem-solving across all aspects of legal.

Having graduated from the University of Queensland with a Bachelors of Law and Commerce (Accounting), Karry completed her Graduate Diploma of Legal Practice at Queensland University of Technology. Karry became a member of the Queensland Law Society, being admitted as a lawyer in the Supreme Court of Queensland in 2016. She is instrumental in drafting, reviewing, and negotiating various commercial contracts and agreements across the business and provides further assistance with legal, compliance, and risk management advice. Karry also keeps the company up to date with changes in legislation and regulation across the fintech and blockchain industries.


PARTNERS

The Australian institute of Digital Transformation (AIDT)
The Australian Institute of Digital Transformation (AIDT) is a not-for-profit foundation comprising a consortium of research institutions and industries.

Gemini
Gemini is a New York trust company regulated by the NYSDFS. We have partnered with Gemini to ensure your crypto is always safe and secure.

IDEMIA
IDEMIA provides Augmented Identity and envisions a world where everyone has an identity and can prove it, in total privacy, wherever and whenever identity and security matter.

Herjavec Group
Herjavac Group provides BAXE the access to the services of the world’s most innovative cybersecurity firms.

Accubits
Accubits is a global leader in custom software, AI and blockchain development. They assist BAXE in mobile and web development.

Consensys
ConsenSys is a software engineering leader within the blockchain space. They will be assisting BAXE in blockchain development.


PUBLICATIONS

Hello World! Introducing BAXE; The New Standard of Super Apps
What we’ve got in store for you in 2022
The Rising Interest in Central Bank Digital Currencies
The financial system is failing 1.7 billion unbanked and underbanked people globally


MEDIA

Feb 9, 2022 on The Paypers: BAXE Launches DeFi Ecosystem with Facial Authentication
Jan 20, 2022 on Irish Tech News: BAXE – Take Back the Internet
Jan 18, 2022 on Be In Crypto: BAXE: Raising the Standard of Super Apps
Jan 17, 2022 on IDEMIA: BAXE Partners with IDEMIA and Haventec to Launch the World’s first DeFi Ecosystem Secured by Facial Authentication
Jan 13, 2022 on Blockonomi: Messaging, Media, Money; 3 Functions for Successful Super Apps
Jan 12, 2022 on Coincodex: 3 Essential Features to Become a Super App in the Digital Payments Industry
Dec 8, 2021 on Hackernoon: The Evolving Landscape of Digital Payments: Why Blockchain Holds the Key


Should you require any additional information, please feel free to drop us a line at [email protected]