BMON-Z1 [Binamon Z1 Planet] Token

BMON-Z1 is a token on Binance Smart Chain (BSC) mainnet. This is the token of the planet Z1 that belongs to the Binamon metaverse featuring digital monsters. The token becomes available in Binamon's play-to-earn game. The asset is obtained via minting NFT monsters Z1.

The company behind the platform is the blockchain-based NFT gaming platform Binamon headquartered in Argentina. The platform was released on August 28, 2021. The game itself was developed on the basis of Unreal Engine, the leading game engine that was used for the development of such famous games as Fortnite, Kingdom Hearts, and Psychonauts.

The goal of the project is to deliver an amazing experience to the members of the community. The gamers have fun while playing and earning. The developers also pursue the ambitious goals to outrace Axie Infinity, the leading gaming platform of the NFT market.

Binamon platform and its products

There are different ways to get income on the Binamon platform. Users can collect tokens, stake or trade them, participate in battles, and just play to get rewards. For example, the Binamon packs provide users with an opportunity to get ultra-exclusive characters. There is an open marketplace where users can exchange NFTs with other real players. Alternatively, players can stake them to get rewards.

Those who just hold BMON and add liquidity to the metaverse can earn by farming. Players who stick to different strategies and prefer action can resort to battles that help to earn more tokens when putting Binamons against other players in the game. Players can enjoy their adventures as they explore a 3D metaverse while trading, playing, and exploring new planets. The rewards can be easily swapped to stable coins and cashed out

The game is constantly evolving. On October 26th, 2021, the CEO of the platform announced that the team is preparing to release a big update known as Binamon Runner 2.0 that includes advanced use cases for BMON, BMON-Z1, and Energy. Players acquire more opportunities to boost monsters and get higher rewards.

The Android mobile app is available for download as well while work over iOS mobile apps is in progress at the time of writing. Wallets will be integrated into the app to provide users with a simple way to buy and sell their Binamons. It will also enable access to the peer-to-peer exchange for trading Binamons with other members of the community. The Monitor function will help to perform various operations such as balance checks and staking rewards.

BMON-Z1 and other tokens of the project

BMON-Z1 tokens present the material for launching the whole race of creatures that reside on the planet Crypton. This is a hostile planet with more aggressive creatures compared to those that live on Genesis. This is also the first planet of the federation that implements P2E (play-to-earn) mechanics.

The players can earn BMON-Z1 tokens while playing on Planet Crypton on a daily basis. They also get BMON-Z1 tokens through staking their assets and thus can earn passive income. Another use case of BMON-Z1 is the creation of Crypton's monsters. Also, BMON-Z1 holders can contribute their coins to the liquidity pool together with BMON.

The total supply of BMON-Z1 is 3 billion tokens. The token was released to make the project more interesting and versatile after the governance and utility token BMON was launched. There is also a BRNG token (Binamon Energy) flowing through the Binaverse. It is needed to develop creatures, buy unique items, and play in advanced game mode. BRNG is used for the generation of energy NFTs, required to take your Binamons to a higher level and help them to compete and win.

The system of the platform relies on the burning mechanism that is also called “Burn”-o-nomics. After BMON-Z1 tokens are used they get burned automatically. The burning process takes place when players open booster packs and when the battle fight occurs. Burning helps to decrease the total circulating supply thus contributing to a better value of the token.

The auditing of the Binamon project was performed by the company Quillhash, a smart contract audit platform for dApps, DeFi, and tokens. The report is available for online users on Github.

Binamon team

The CEO of the platform is Nicolas Veiga Palacios, a co-founder of Travelling Skates, and a cryptocurrency entrepreneur. Previously, he also was a developer of Programmer.NET, which is a desktop application developed by the software company GrafoCastle located in Argentina.