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BinaryX, a Game-Fi development platform, announced today the launch of CyberChess. 



It is one of the first auto-chess strategy games in the GameFi P2E space. CyberChess offers people on Web3.0 new entry points into the world of GameFi. 



$500,000 worth in BNX and Heroes giveaway



To celebrate the launch, BinaryX will commence Season 1 of ranked mode battles, where players will have a chance to win up to $500,000 USD worth of prizes in the first 8 weeks of launch. 



In the same period, BNX airdrops will be announced and given away via Discord and Twitter. To get a headstart, players can also stand to receive additional 2 heroes and 2 skills when they enter the code ‘4morechess‘ under the settings option in the game menu.



New free-to-play, play-and-earn model



As a free-to-play, play-and-earn web 3 game, CyberChess was designed to allow players to start playing the game without having to make an initial investment. 



When new players connect to the game for the first time, they can summon 5 free heroes and 2 free skills to start participating in matches with other players.



Players can also recharge or make in-game purchases to summon new heroes and acquire new skills. This model lowers the barrier to entry for players new to GameFi and allows players to enjoy the game for its own sake, potentially earning in-game tokens in the process. 



Robust and transparent tokenomics 



As the third game in the Cyber series, CyberChess adds to the utility of BNX as it offers a new avenue for BNX token holders to consume in-game gold. 



The gold consumed in CyberChess goes back to funding the development of our games and supporting DAO functionalities for community and resource management in the entire ecosystem. BinaryX provides a transparent look into how the funds are being used on their website. 



Explosive battle modes and strategy-based gameplay







As GameFi continues to mature and evolve as an industry, BinaryX plans to accelerate the mass adoption of GameFi by making GameFi games more fun and challenging for players. 



This includes adding more complicated features and difficulty settings for gamers who want a solid strategy-based gaming experience as well as the earning potential of GameFi. 



The gameplay for CyberChess pays tribute to the popular auto chess game format in traditional gaming and is designed to elevate the gaming experience for players in GameFi. Players can participate in two battle modes – Ranked and Arena mode. 



In Ranked mode, players get to go head to head in a PvP match to accumulate in-game gold. On the other hand, players battle it out with other players to rise to the top of the leaderboard and take away an attractive prize pool of $BNX in Arena mode.



Read the CyberChess Wiki to learn the gameplay 



Addition of in-game marketplace



CyberChess comes with its very own in-game marketplace where players can list in-game assets such as heroes and skills in exchange for gold. This means that players have more avenues to upgrade or accumulate more gold.



‘BinaryX created CyberChess to stand out amongst games in the play-to-earn genre. It comes with more complex gameplay, which makes the game more challenging and fun for players who enjoy traditional strategy games. 



We’re excited for our fans to start playing CyberChess and to immerse into the new world we created,’ said Chun S., Global Head of Business Development at BinaryX.  



Launching as IGO platform



Earlier this year, BinaryX announced its first IGO partnership. With the launch of CyberChess, BinaryX is poised to roll out its ambitious plans to serve as both a GameFi developer and IGO platform.



‘The goal is to be a home ground for gamers, developers, and investors to access and interact with GameFi. We aim to be the frontrunner in the space and we have a ton of exciting IGO projects coming up. Launching our IGO platform is the next step,’ Chun said.



Watch the Trailer









About BinaryX



BinaryX is the GameFi platform behind the play-to-earn games CyberDragon and CyberArena, both of which run on the BNB chain. 



BinaryX began as a decentralized derivative trading system. Recognizing the burgeoning popularity of GameFi and interest in metaverse games, the team gradually evolved into developing decentralized video games and is now transitioning to becoming a GameFi platform offering IGO services to bridge Web2 developers to Web3.



As one of the top 10 projects on the BNB Chain, BinaryX has more than 100k coin holders and 15K monthly active wallets. 



It is also one of the largest metaverse projects by trading volume on the BNB chain, with more than 300 million in market cap. BinaryX also has a token, $BNX, that has consistently demonstrated strong performance despite the bear market.



For more details and information about BinaryX, please visit here. 



BinaryX | Twitter | Discord | Telegram | YouTube | Medium
The post BinaryX Launches Strategy Game CyberChess With $500,000 Prize Pool appeared first on BeInCrypto.


BinaryX, a Game-Fi development platform, announced today the launch of CyberChess. It is one of the first auto-chess strategy games in the GameFi P2E space. CyberChess offers people on Web3.0 new entry points into the world of GameFi.&#160; $500,000 worth in BNX and Heroes giveaway To celebrate t...

beincrypto.com

BinaryX Launches Strategy Game CyberChess With $500,000 Prize Pool

Hong Kong billionaire and real estate tycoon Adrian Cheng’s investment firm is reportedly raising funds to invest in the crypto space as the selloff further pushes down the price of Bitcoin (BTC) and the rest of the digital assets market.
According to Bloomberg, C Capital is planning to pool $500 million to finance investments in blockchain assets, credit and private equity over the next 18 months.

Citing people familiar with the matter, the report says that the firm is marketing a $200 million blockchain fund and aims to gather $300 million more for private equity and private credit strategies investments.
The firm’s chief executive officer and president, Ben Cheng, is optimistic about returns even as the crypto winter continues to pummel down the prices of digital assets, including Bitcoin which has sunk below $20,000.
He says the current economic condition offers an opportunity to get the best results citing that the firm’s crypto investments increased by 40% in the first half of the year amid the bear market.
“When people are on defense, we’re on the offense… After another 6 to 9 months, it will come back.”
C Capital has so far invested about $1 billion in private companies, digital assets and credits. Its hedge fund strategy primarily focuses on crypto trading. According to Cheng, the firm refused to accept offers from angel funds and firms at a seed stage because of high valuations and limited upsides.
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Featured Image: Shutterstock/spainter_vfx/Nikelser Kate
The post Billionaire Real Estate Tycoon to Raise $500,000,000 for Crypto and Private Equity Investments: Report appeared first on The Daily Hodl.


Hong Kong billionaire and real estate tycoon Adrian Cheng’s investment firm is reportedly raising funds to invest in the crypto space as the selloff further pushes down the price of Bitcoin (BTC) and the rest of the digital assets market. According to Bloomberg, C Capital is planning to pool $500...

dailyhodl.com

Billionaire Real Estate Tycoon to Raise $500,000,000 for Crypto and Private Equity Investments: Report

Major DeFi lender Maple Finance has launched a capacity pool worth $300 million for Bitcoin mining companies.
The development comes despite the sharp decline in BTC’s price and the reduced injection of capital into the mining sector.
Maple Opens Up Fully-Collateralized $300 Million Lending Pool
According to an announcement on Tuesday (September 20, 2022), the new fund targets “public and private blue-chip bitcoin mining and digital asset infrastructure companies” based in North America and Australia.

Today, @IcebreakerDeFi joins Maple and opens a $300M capacity pool to provide secured debt financing to blue-chip Bitcoin mining and digital asset infrastructure companies. pic.twitter.com/ZWyLV2P9hr
— Maple (@maplefinance) September 20, 2022

The pool offers underlying loans with a tenor of 12-18 months, along with an interest rate between 15-20%. Australian financial services firm Icebreaker Finance will manage and administer the loans via Maple’s platform. Funding will be administered to borrowers based on the balance sheet strength, operational efficiency, and financial performance.
Furthermore, loans will be secured by either real-world assets like mining rigs and power transformers or digital assets.
Commenting on the latest development, Icebreaker Finance founder and CEO Glyn Jones said:

“The market is now maturing to appreciate that non-recourse SPV ASIC backed financing can be inappropriate given the volatility in value of ASICs. Instead, a more diverse security package is required.  Maple’s out-of-the-box, on-chain lending toolkit enables us to align incentives of lenders and borrowers to execute loans on-chain with terms that reflect the emerging nature of the industry more efficiently than we could elsewhere.”

Financing Woes for Bitcoin Miners
The news is coming amid a turbulent period for bitcoin miners in the area of securing financing for their operations. The crypto bear market has seen mining firms struggle to secure loans and pay back creditors.
Back in June, bitcoin miners were struggling to repay loans worth about $4 billion, which were backed by their equipment. As previously reported by CryptoPotato, Bitcoin miner Core Scientific sold over 7,000 BTC in June alone, for an average price of $23,000 per coin, leaving the company with 1,959 BTC in its coffers.
The company later entered an agreement with the investment firm B. Riley, which will see the latter purchase $100 million in common stock of Core Scientific over two years.
Maple Finance co-founder and CEO Sidney Powell said:

“Recent market headwinds have caused lenders to pull back, while traditional financing vehicles have been slower to engage this sector. Miners play an essential role in growing the crypto ecosystem and local economies, and we are proud to extend a new financing vehicle to direct capital where it is needed the most.”

The post Maple Finance and Icebreaker Launch Lending Pool for Bitcoin Miners appeared first on CryptoPotato.

The two parties joined forces to roll out a lending pool for bitcoin miners. 

cryptopotato.com

Maple Finance and Icebreaker Launch Lending Pool for Bitcoin Miners

The institutional lending platform has facilitated $1.8 billion worth of digital currency loans since May 2021. 

cointelegraph.com

Maple Finance launches $300M lending pool for Bitcoin mining firms 

Impermanent loss relates to a condition wherein investors end up losing assets they had previously dedicated to providing liquidity to a liquidity pool.

Rocket Pool price	$23.75
Low - High 24H	$23.39 - $24.48
Market cap	$445.46M
Volume 24H	$1.26M
All time high	$59.46 -60.06% November 9th 2021
All time low	$0.008847 268305.34% August 28th 2018
Genesis date	N/A

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