The BSC is the fastest growing chain in DeFi and 100xCoin is capturing the audience. With plans to grow upwards of $7B in market cap this year, CEO Ken Llamas is building the technology that will bring more users than ever before to the chain. He calls it the Robinhood of the Binance Smart Chain, a rightful name.
In a year of rug pulls and exit scams, investors are often turned away from the BSC due to the unregulated complexity. In a recent demo coin’s new app Altbase, Llamas showed how 100xCoin is going to promote vetted projects with doxed (non anonymous) founders, who will be able to apply to have their currency traded on the platform. This is a first of its kind solution for traders on the BSC.
The Altbase product, which takes its name from the ever popular Coinbase, will simplify the buying process for new investors on the BSC. When a person unfamiliar with the crypto process decides they want to buy into a coin, they are met with a process that involves multiple steps just to complete a transaction. Connecting wallets, contract addresses, adding on exchanges through internal wallet browsers, buying one coin to purchase another – these are all steps that can be intimidating to someone looking to be a part of the next big thing, so simplification is a must.
At Altbase, users will be able to purchase $100x from fiat using a credit or debit card. This takes almost thirty minutes out of a user’s first journey onto the chain. Llamas shared that the coin plans to be customers’ first step onto the Binance Smart Chain, educating their customers on the low gas fees and other benefits of trading on the BSC.
May 30th is the set release date for the app, and 100xCoin has big follow up plans. The next moves include a crypto capital launchpad 100xRocket and celebrity NFT platform 100xCollabos, all of these timed up to launch in June as their app gets into the hands of more users.
“We want to create simple systems that improve the user experience on the BSC,” says Llamas, “It shouldn’t be hard to access quality projects and teams.”
After the announcement of the app, 100xCoin saw multiple $30k+ purchases from early holders of SafeMoon and other alts that have achieved success this year. As more users come into the chain, it’s easy to see how 100x could win early holders by creating a frictionless buying process.
But the big secret is 100xCoin’s marketing system. 100xCoin is the first alt-currency to sponsor an NFL athlete, boxer, MMA fighter, pushing into the untapped extreme sports markets. With proper adoption, this could become the new Gen Z currency. Combined with a user-friendly mobile app, this could become the front door of alternative currency trading.
Looking deeper at the Crypto Capital Launchpad, 100x is planning to control all of the recently made wealth this year. Their plan is to create an incubator similar to YCombinator or TechStars, but for DeFi. Investors who hold 100xCoin will have early access to deals, and the 100x treasury will take 5% of the launched project tokens. This creates a system where 100x will continue to lock more value underneath its brand. As the launched projects become more successful, more capital will feed back into the 100x ecosystem.
If 100xCoin is successful, it could become the most dominant mobile app on the BSC. No other project has made it easy to purchase microcap projects straight from fiat. Tied in with the upcoming crypto capital launchpad, 100xCoin could seriously become one of the top funnels for new users into the chain. Llamas says they are targeting $7B in market cap this bull-run. With proper adoption, anything is possible.