Binemon BIN
About
What Is Binemon (BIN)?
Binemon is a virtual pet non-fungible token (NFT) game on Binance Smart Chain, combining elements of an idle RPG game. Players can collect and trade eggs, ambrosia (fusion), characters, items and land. In addition, players are connected to fight in player-versus-environment (PvE) and player-versus-player (PvP) modes and receive cryptocurrency rewards. Designed in a comic-like style reminiscent of Pokemon, the game is set on Planet Earth with creatures called “Mons”, created by extraterrestrial creatures and now live on four different continents. These Mons are NFTs that players can collect and use to battle other players and their Mons. Players can also explore the infinite open-world landscape and collect Ambrosia (AMB), the in-game commodity that upgrades and empowers their mons.
Binemon has already grown to over 140,000 players as of September 2021, and is currently in chapter one – Prometheus. It features a detailed roadmap with new reward systems, features, quests and storylines to come in the future. The roadmap consists of ten phases that are planned to be completed every two months by the team, with Phase 2 currently underway.
Who Are the Founders of Binemon?
Binemon makes no mention of its founders on its website or its whitepaper. Since the game has a Filipino, Chinese, Indian and Vietnamese Telegram group for its community, it is safe to assume that many of its players come from Asia. Thus, it would be logical if the team was from Asia, especially with similar games like My DeFi Pet coming from Asian teams.
What Makes Binemon Unique?
Binemon features both PvP and PvE gameplay. When battling other players, a player picks five of his Binemon and arranges them in a formation before entering combat. Combat is turn-based and time-limited, and the winner receives AMB tokens as a reward, as well as a possibility to improve their rank and win a seasonal award.
Binemons can be acquired by buying eggs with BIN tokens. Mons are received randomly from eggs in four different races: dog, cat, unicorn and titan. Each race belongs to five classes: fighter, archer, mage, tank and support. Furthermore, Mons have a combination of:
- Eight different body parts: head, body, tail, ears, face, skin, horn and wings
- Three primary stats: strength (damage, HP); agility (attack speed, armor); intelligent (magic power, skill casting speed, magic resistance)
- Five equipment stats: critical rate, critical damage, dodge chance, HP regen, MP regen
- Two skills: passive influenced by race, ultimate influenced by class
- Seven ranks
- Three forms: baby, teenage and adult
Levels range from 1 to 100, making each Mon customizable and unique. Mons can also be fused, resulting in a higher-ranked Mon. Besides fusion, Mons have the ability to evolve across classes and levels, and skills are acquired at birth.
The game also features a PvE campaign where players can level up their Mons, with more campaigns and bosses being planned in the future.
How Many Binemon (BIN) Coins Are There in Circulation?
The total supply of BIN is 1 billion tokens. 40% were distributed in the IDO and 40% are part of the liquidity pool that is locked for 1 year. 15% is vested to the developer team for 1 year, with the remaining 5% reserved for airdrops and IDO fees.
There is a 2% buying fee and 5% selling fee that allows the project to generate inflows to cover marketing and product development expenses. BIN can be used to purchase eggs that breed Mons (NFTs) and Ambrosia – the in-game currency used for fusion and Mon stamina. For the coming phases, players will be able to use BIN for other purposes as well.
How Is the Binemon Network Secured?
BIN is a BEP-20 token on the Binance Smart Chain (BSC). The Binemon game is hosted on Draken – a blockchain with a proof-of-stake consensus mechanism. The team chose Draken for three reasons:
- Fast and stable transaction speed (up to 5000 TPS, a block time of two seconds), which took inspiration from Ethereum 2.0, ensuring a smooth experience.
- Cheap gas fees help save costs for player's activities and transactions on the NFT marketplace.
- Smart contract and DaRK privacy protocol brings “privacy on demand”, customization and high security, in line with the constantly changing nature of NFT games.
BSC is secured through the proof-of-stake consensus mechanism. 21 validators are elected every 24 hours to validate transactions and maintain blockchain security. These validators have to stake a certain amount of BNB coins with Binance to be eligible to do so.
When Will Binemon Trading Begin?
Binemon launched on Aug. 24, 2021, on the Binance Smart Chain.
Where Can You Buy Binemon (BIN)?
BIN is available on PancakeSwap (V2) and LBank. If you want to learn more about cryptocurrencies and how to start buying them, you can read more here in our education portal – Alexandria.
AI Analysis
What is the Binemon (BIN) cryptocurrency good for? What are its main use cases?
Binemon (BIN) is a cryptocurrency that is primarily associated with a blockchain-based game that combines elements of gaming and non-fungible tokens (NFTs). Here are some of the main use cases and features associated with Binemon:
Play-to-Earn Mechanics: Binemon allows players to earn BIN tokens by participating in various in-game activities. Players can earn rewards through battles, missions, and other gameplay mechanics, giving real-world value to their in-game efforts.
NFTs and Digital Collectibles: In Binemon, players can acquire, breed, and trade creatures represented as NFTs. These digital assets can have varying levels of rarity and unique attributes, making them desirable for collectors.
Marketplace Transactions: The BIN token can be used in the game's marketplace for buying, selling, and trading NFTs and other in-game items. This creates an economy around the game's ecosystem, enabling players to exchange their assets securely.
Staking and Governance: Binemon may offer staking opportunities for holders of BIN tokens, allowing them to earn additional rewards or participate in the governance of the platform. Token holders might have the ability to vote on developments, features, or changes to the game.
Community Engagement: The BIN token is often used to foster community engagement. Players and investors may participate in events, contests, or collaborations, utilizing the token to incentivize active participation.
In-Game Currency: BIN tokens can serve as the primary currency within the Binemon game, enabling players to purchase items, upgrades, or other services within the game's ecosystem.
As the landscape of play-to-earn games and NFTs evolves, the actual use cases and features of Binemon may continue to develop. It is always recommended to check the latest project updates and community discussions for the most current information.
What blockchain does Binemon use? Is it its own blockchain or built on top of another?
Binemon is built on the Binance Smart Chain (BSC). It leverages the capabilities of BSC for its decentralized gaming features, including NFT creation and trading. As such, it does not have its own standalone blockchain but operates on top of the Binance Smart Chain.
Is Binemon programmable? Does it support smart contracts or decentralized applications?
Binemon is primarily a blockchain-based game that combines elements of NFTs (non-fungible tokens) and gameplay mechanics. While it focuses on the gaming aspect, it does operate on a blockchain, which typically means it utilizes certain blockchain features such as asset ownership and transaction verification.
However, Binemon itself does not support general-purpose smart contracts or decentralized applications (dApps) in the same way that platforms like Ethereum do. It’s more focused on providing a specific gaming experience rather than offering a full-fledged environment for developing various types of smart contracts or dApps.
If you are looking for programmable blockchain platforms that support a wide range of applications and smart contracts, you might want to consider Ethereum, Binance Smart Chain, or other similar networks designed for those purposes.
How fast are Binemon transactions? What is the typical confirmation time and throughput (transactions per second)?
As of my last knowledge update in October 2023, Binemon is a blockchain-based game that operates on the Binance Smart Chain (BSC). The transaction speed and throughput are influenced by the underlying BSC technology.
Confirmation Time: The average block time on Binance Smart Chain is approximately 3 seconds. Therefore, transactions on Binemon typically confirm within that timeframe, depending on network congestion and gas fees.
Throughput: BSC is capable of handling around 100 to 160 transactions per second (TPS) under optimal conditions. However, actual performance can vary based on network traffic and other factors.
For the most accurate and up-to-date information, I recommend checking the official Binemon or BSC resources, as these metrics can change with updates or network changes.
How much data can I store on the Binemon blockchain? Does it support on-chain data storage?
Binemon is primarily a game and NFT platform built on the blockchain, and it allows users to interact with digital assets in a gaming context. As for on-chain data storage, like many blockchain networks, storing data on-chain can be limited and often comes with costs related to transaction fees and storage capacity.
Generally, most blockchains are not optimized for large-scale data storage due to considerations such as network congestion, speed, and cost efficiency. Instead, many projects use decentralized storage solutions (like IPFS) to store larger datasets off-chain while keeping critical data or references on-chain.
For specific capabilities and limitations regarding data storage on the Binemon blockchain, you'd need to consult the official documentation or community resources for the most accurate and updated information, as blockchain capabilities can evolve over time.
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