The crypto exchange 50x.com has listed the BAEX super-liquidity token for the DeFi project baex.com. The smart contract is designed to sustain a constant rise in BAEX’s price. ForkLog reported representatives of the exchange.
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The BAEX smart contract issues tokens in exchange for collateral in USDT or DAI. The minting and burning costs are calculated after each transaction according to the following formula:
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Formulas for calculating BAEX token price during issuance and burning. Data: 50x.com.
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The collateral per token and the price of existing tokens grow after each issuance or burning of BAEX via the smart contract.
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According to project representatives, tokens worth up to 1000 USDT are more advantageous to buy on the exchange. When issuing BAEX for 1000 USDT using the smart contract, the fee is roughly $10; when purchased on 50x.com — about $4.
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Since launch on December 17, the BAEX price has risen from $1.50 to $2.10 — a 38% increase. It trades at $2.02 for the BAEX-USDT pair on 50x.com.
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50x.com — a cryptocurrency exchange with a quantum trading core. It enables swapping one cryptocurrency for another without the involvement of base assets such as USDT or BTC.
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Earlier ForkLog explained how the exchange’s quantum trading core works.
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