3 years ago

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In this episode, CryptoRick interviews BankX CEO Lance Parker to discuss his new upcoming project on Pulse Chain, BankX, and the creation of a new stablecoin XSD.

This interview covers
-what is BankX/XSD
-how it works/how to mint
- how the XSD stablecoin is backed and pegged to price
- price stabilizing techniques to ensure value of the ecosystem
-comparisons with Hex/Liquid Loans/other certificate of deposit/loan schemes.
-how to sacrifice for BankX
-future developments in the wallet and on ramp ecosystem.
-general Q and A.

For more information on BankX please visit the official links:
Website: https://www.bankx.io/
YouTube: https://www.youtube.com/channel/UCLlgoLq-ROfFeJls0mwZUUA
Twitter: https://twitter.com/bankxio
Discord: https://discord.com/invite/V5JaTEGAEp
Telegram: https://t.me/BankXio

Approximate Timestamp Guide:
00:00-3:16 - Introduction, CEO background, what made Lance want to create a new stablecoin, how did he stumble onto Pulse Chain
03:16–04:51 - Freedom issues with stablecoins, terra luna issues, decentralization, importance of cutting out the middleman
04:51–09:09 How to sacrifice for bankX on PulseChain, Volume bonuses, Looping Concept explained, Certificate of Deposit, Liquidity Pools, How to mint XSD
09:10-12:49 X points, 1:1 ratio of BankX tokens, Eth/USDT/BNB, Leaderboard bonuses, referral bonuses, time machine bonuses
12:50-14:44 Using PulseChain (PLS) + BankX tokens to mint, payout
14:45–19:39 Bank X token utility/price, taxation considerations, net deflationary, Hex parallels, difference to Terra Luna/Anchor Protocol
19:39 –22:05 – Pulse Validator returns v BankX returns, looping process, Hex differences v BankX
22:05-30:06 – Backing of stablecoin (XSD), CryptoCollaterisation, Algorithmic collaterisation, collaterisation pooling % changes, price stabilization techniques, Silver pegging to price of silver, makerdao features, incentivization techniques.
30:06-35:04 – Lack of liquidating events, difference between liquid oans, collecting interest and redemption, does longer pay better?
35:04-38.23 – Liquidity pools, burning mechanisms for liquidity pool collaterals, net deflationary, interest paid in BankX tokens
38:23-41:33- Avalanche /Fantom Chains, multichains, Upcoming wallet and on ramp ecosystem, upcoming road map, satellite technology and private keys, security discussions
48:10-52:47 – BankX io website, discord, telegram, YouTube, Contact details , whitepaper, documents, mission statement goals, alternative to CBDC’s
52:47 – concluding remarks.