BSCLaunch Research: ProjectX

BSClaunch Official
13 min readNov 15, 2023



Category: SuperApp, Defi, Web3, Economics System, Currency Revolution
Ticker: $PCX
Blockchain Network: Ethereum (ETH)
Token Supply: 100,000,000 Tokens
Project Valuation: 5,000,000 USD
Initial Token Circulation: 7,800,000 Tokens
Initial Market Cap: 234,000 USD
Total Raise: 866,000 USD
Platform Raise: 50,000 of Pre-Seed Round on BSClaunch Platform



What ProjectX Do

The ProjectX decentralized platform + blockchain-enabled browser securely stores and values big data (a $100T market), returning this value to business and individual users as fungible currency as part of our internal economy. This makes goods and services cheaper for individual users while improving companies’ bottom lines.

Project Aim

Our primary use case is Southeast Asia’s (SEA) #1 economy: Indonesia’s Chamber of Industry and Commerce (Kadin) is whitelisting our bridging token, $PXC, as one of only 380 legal crypts in a country of 270 million crypto-hungry users. PXC is the gateway token between ProjectX’s internal economy and the mainstream economy. This gives PXC, unparalleled utility and stability unmatched by any other cryptocurrency.

Kadin aims to encourage the uptake of both PXC and our data-backed internal token, $PRX, to meet the needs of Indonesian business and commerce in terms of liquid capital and assets held. This will maintain Indonesia’s position as SEA’s largest economy through USD $Trillions in tokenized assets on our platform, all while helping Indonesia achieve net-zero emissions before 2060 — a blueprint for a sustainable economy and world. This is ahead of expanding this uptake throughout SEA, Asia and then globally within the next 12–18 months.

Primary $PRX Use Case: Indonesia — A Leader in SEA

In order for Indonesia to earn its place as one of the world’s developed countries by 2025, the Indonesian government aims to strengthen collaboration between the government and the private sector while optimizing Indonesia’s economic potential as the leading SEA economy. Our company commits to supporting Kadin by granting Indonesian businesses access to our data-backed asset and currency, PRX, thereby unlocking trillions of dollars in data value to expand Indonesia’s economy in the coming years.

The Problem

USD $Trillions of untapped data value must be rapidly realized in order to meet Indonesia’s ambitious sustainable energy initiatives while stabilizing the rupiah’s historic vulnerability.

The Solution

We aim to assist Indonesian businesses realize USD $Trillions by facilitating the tokenization of their data as PRX, commensurate with the value of data output projected over the next 10 years by Indonesia’s rising industries. This will enable Indonesia to meet its ambitious targets of 25 percent EVs of total vehicle sales by 2030, as well as other sustainable initiatives, including Net Zero by 2060, while stabilizing the rupiah with an alternative supply of liquidity based on real market value (i.e., ProjectX’s data-backed currency, PRX).

Why $PRX?

Critically, by implementing PRX, efficient/sustainable systems, processes, and distribution networks become the only systems that are economically viable. This is by default of the fact that PRX is backed by the data algorithms generated by these efficient systems; the more efficient the systems the more stable PRX becomes as an asset and currency, and the cheaper (and hence more profitable) the processes become and therefore the companies that implement them. This direct link between the factors of production and our asset/currency is the basis of our internal economy — the only viable economic model and currency ever suggested or conceived that is capable of stop gapping major funding shortfalls, including the RPJPN 2005–2025 and the 2030/2050/60 agendas.


· Our tech and assets are designed to allow financial institutions and crypto exchanges to reduce to zero any potential exposure to poor governance, an unstable crypto/mainstream market, bad actors, insufficient assets and poor liquidity.

· We have built proven tech (Github available, prototype launched on Mac, Linux, PC, iOS, Android with 4.6 stars on Google Play/140K downloads across platforms).

· We are being whitelisted by Kadin as one of only 380 legal crypts in SEA’s largest economy of 270 million people.

· PXC will automatically be listed for trading on the PRX DEX at launch.

The Team

We are a fast-executing, multi-disciplinary team of Harvard-level economists, Fortune 500 tech and team leaders, tokenomics, developers and Web3 experts building game-changing blockchain tech and assets to stabilize crypto. The principals raised USD $1.2MM in an IDO in 2020 and were responsible for creating over USD $600MM in digital assets in the last 18 months.


95% of tech start-ups fail in the first year due to the lack of an effective go-to-market (GTM) strategy and marketing. We realize that generating initial revenue is critical from Day 1 of product launch. As part of this GTM strategy, marketing and awareness-raising with our marketing partners will begin immediately post-raise in order to make potential users and investors aware of the benefits of our project, our product in development and our token, PXC. This will continue to drive token prices up during build and beyond.

In order to achieve this, we have allocated 70% of funding from seed round (as well as 50% of main sale and 23% of total token allocation) to marketing our initial revenue-generating product immediately post-raise. Most failed tech start-ups make the mistake of assuming a product is required prior to marketing when the opposite approach is a far more effective strategy.

The necessity for our initial revenue-generating product is clear: we are developing the world’s first and only data-backed currency, PRX, which cannot be bought or traded on exchanges but only borrowed and sold. To borrow and sell this currency/asset requires the launch of our native ProjectX DEX. Therefore, to accelerate our GTM strategy, we will build and launch our DEX as our initial product within 2–3 months of our seed round, encouraging users to trade crypto on our DEX, while ProjectX accrues fees as with a standard DEX. Reduced fees on our DEX are only accessible via our bridging token, PXC, which will drive up PXC price, and company valuation, while continuing to draw significant interest from serious investors, VCs, etc.

Consequently, post DEX launch we will be in a position to continue to market our DEX and platform innovations while offering superior services at reduced fees, including initially building swap, liquidity, farm and pool features and then, once this is complete, add other features as we progress. These innovations include a practical example of stabilizing our DEX by holding a substantial amount of PRX that will be issued to out DEX (which is trading as a separate corporate entity). This early loaning of PRX to our DEX, which ensures PRX is liquid, is the basis for our talks with Indonesian businesses and Kadin as early adopters of our currency, economy and technology.

This early loaning of PRX to our DEX, which ensures PRX is liquid, is the basis for our talks with Indonesian businesses and Kadin as early adopters of our currency, economy and technology.



There is no data-backed currency in existence, nor any technical or economic theory or concept ever proposed or conceived that can deliver one. (Hence the strong early interest in our game-changing tech and concept.)

Having said that, although there is no other digital currency backed by anything (PRX is backed by AI aggregated data value and is hence uniquely stable), the nearest comparisons are stablecoins (themselves not actually stable in practice as they are often victims of financial risk contagion channels, The TerraUSD/Luna fiasco being a good recent example).

These stablecoin ‘competitors’ include Tether (USDT) (in yet more hot water as New York attorney general, Letitia James, called claims Tether’s stablecoins are fully backed by US Dollars ‘a lie’), USD Coin (USDC) (this supposedly ‘immutably pegged’ stablecoin having recently lost its dollar peg while falling to a record low after the company revealed it has nearly 8% of its $40 billion in reserves tied up at the collapsed lender Silicon Valley Bank), True USD (TUSD), Binance USD (BUSD) (and 200 others).

The takeaway here is the space is desperately in need of a new digital asset class and currency that is backed by something genuinely immutably valuable and stable: the AI aggregated value of user (big) data our platform stores on-chain, values and returns to users as a fungible currency and asset.


We are building a Web3 browser and chain agnostic custom chain, building on Cosmos IBC as this allows us to integrate our custom chain with all other chains to create the basis for a true IoB, ushering in Web3.

The PRX blockchain in conjunction with Cosmos is implemented so multiple chains on the PRX chain can communicate with each other. The PRX blockchain is partly implemented using a Cosmos SDK. Cosmos SDK is a modular framework for building interoperable, application-specific blockchains.

We are building specifically with Cosmos because it allows us to not only have several blockchains (one being for data storage others being for transfers etc) but have them seamlessly interact with each other. As Cosmos states:

‘The end goal is to create an Internet of Blockchains, a network of blockchains able to communicate with each other in a decentralized way.’

This is exactly what we are achieving with ProjectX and, by using IBC Cosmos, not only the PRX blockchain but other blockchains that we will connect to in the future can maintain sovereignty, process transactions quickly and communicate with each other within the ecosystem. We can also use IBC to connect to any blockchains that are built using Cosmos/Tendermint (Such as Binance DEX or Sentinel) and can move even closer to the concept of Web 3.0. Specifically, we are using Tendermint which acts as a consensus engine and a BFT consensus algorithm to build on top of Cosmos SDK: this is comprised of three layers — Networking, Consensus, Application.

Tendermint BFT is a solution that packages the networking and consensus layers of a blockchain into a generic engine, allowing developers to focus on application development as opposed to the complex underlying protocol. This way we use Tendermint in order not to get into too much complex and time consuming protocol development — especially because we use PoS and it is fairly common and can be customized easily. To clarify PoS: the application defines that validators are elected based on how many tokens they have at stake.

The Tendermint BFT engine is connected to the application by a socket protocol called the Application Blockchain Interface (ABCI). We are wrapping this protocol in GO language. Another reason we chose Tendermint is because of its very high speed, especially since we will need this for our expected levels of transactions: Tendermint BFT can have a block time on the order of 1 second and handle up to thousands of transactions per second.


Customers primarily use our Web3 browser, called Gleam, to access Web3, taking advantage of all the benefits Web3 offers, including communications, economic advantages etc.

PRX Gleam is a ‘true’ (as defined by the Ethereum Foundation’s premise) Web3 browser and custom blockchain. Gleam gives mainstream user access to the Internet of Blockchains (IoB), securing user data on-chain for each user. Users convert their data into a fungible currency, PXR, via our Defi layer for their commerce and business needs (including purchases, loans etc).

By enabling mainstream users cross-chain access to the IoB, ProjectX ushers in Web3 in the same way Netscape ushered in the Web by giving mainstream user access to the original Internet. Users can opt in to contribute selected data to PRX’s exerithms, which, via Gleam, anonymize and ‘value’ this data. This valuation is determined by assigning values, both market and insight value, to all possible outputs derived from a specific input (similar to sCompute, Cirus) and expressing this as an economic value (PRX). In this way, the value of PRX remains stable as it is not prey to market variables and the asymmetric agendas of the speculators.

For each individual user, their data value is expressed as a ‘personalized’ exchange rate, called EXR (‘PRX Rate’ or ‘Exchange Rate’), which is a number to four decimal places displayed on a user’s task bar. EXR is applied by Gleam users via our Defi features — PRX Pay, PRX Bank, etc — to make payments cheaper, get better interest rates on PRX Loans, etc: EXR is effectively a personalized exchange rate between all currencies.


Kadin sees the enormous potential for our game-changing tokenization tech and economic models to unlock vast economic resources; Indonesia is unique in its progressive approach to crypto/digital assets and with our tech and models will rapidly become not only the leading SEA economy but a global financial and economic powerhouse as well.

Note: We are planning an IEO in Q1/Q2 2024 (to be advised) when market conditions determine the viability of this means of additional funding. In the current fundraising climate it makes sense to pursue marketing/initial product launch prior to an IEO, for which we will raise the necessary funding with our seed launch in Q 4 2023 and selected smaller TGE events as we develop, build and launch our MVP in Q1 2024.

- Q1 2024: Complete, market and launch ProjectX’s DEX to achieve immediate revenue and a venue to trade PXC and loan and sell PRX and PRX1–21 (data futures tokens).

- Q2 2024: Continue communications with Indonesian industry leaders, business owners and business communities.

- Q2 2024: Continue to refine with Indonesian industry leaders, business owners and business communities the benefits of our tech and digital assets for Indonesian businesses and industry in conjunction with industry feedback.

- Q3 2024: In conjunction with Kadin and their official Singapore exchange partners, set up with Indonesian businesses our innovation testbed. This will be after a period of consultancy to assess and refine our tech and assets for specific industry segments.

- Q3 2024: Launch ProjectX DEX, ProjectX’s native exchange that will handle all sales of PRX to fiat and crypto via PXC.

- Q4 2024: Define in conjunction with Indonesian business leaders new financing avenues and opportunities for Indonesian businesses using our tech and digital assets.

- Q4 2024: Launch ProjectX’s platform and ‘natively blockchain aware’ browser, with full cross-chain functionality and user crypto wallets and accounts.

- Q4 2024: Due to the fact Indonesia does not (yet) accept crypto as payments internally, initiate large-scale use case(s) that demonstrate how our tech and tokens expedite payments while unlocking billions in untapped asset value. (Indonesia has recently recognised crypto as an ‘asset’ banks and businesses can hold, hence opening the door to PRX and its utility.) Use cases include:

- Q1 2025: International remittances (received remittances accounting for USD $11B) which can be done directly via our decentralized platform between individuals, removing expensive third-parties/or via PSPs in partnership with us.

- Q1 2025: Bank deposits (i.e., assets, for commercial banks who wish to hold a new, uniquely stable digital asset class)/or use PRX for stable overseas payments.

- Q2 2025: Company assets (‘Indonesian companies are welcome to buy and sell crypto as trading commodities’).

- Q3 2025: Government spending (we are in the process of discussing this through our connections as well)/the basis for a state-backed digital currency.


Revenue streams primarily come from the vertical business solutions we build on our horizontal platform, including our DEX and payment services. These include PRX commercial and individual loans repaid at a competitive aggregate rate of 2–4.5%, with PRX P2P services at 0.25%-1% fees, while competitive fees at 0.05%-0.25% accrued from trading on our DEX will be our first revenue stream to come online 4–6 months post raise. Further revenue streams include our decentralized ads feature, which is being developed by our CMO, a former Swash ads lead, and P2P loans, under the direction of our advisor, a former Harvard economics professor.



Our token is the sole gateway between our internal data economy and the mainstream economy, giving PXC unparalleled utility for purchases, payments and other Defi and finance features only accessible on our platform. This utility will be in evidence at DEX launch 6 months post-raise as it is the only way to access reduced fees and other facilities to trade on our DEX, placing enormous buying pressure on our token due to pre- and post-launch marketing of this and other Defi platform features.


Pre-Seed Round 1

Fundraised: 30,000 USD

Price: 0.01 USD

Lock-up: 100% unlocked at TGE

Pre-Seed Round 2

Fundraised: 16,000 USD

Price: 0.02 USD

Lock-up: 100% unlocked at TGE

Seed Sale

Fundraised: 120,000 USD

Price: 0.03 USD

Lock-up: 100% unlocked at TGE

Main Sale

Fundraised: 700,000 USD

Price: 0.1/0.25 USD

Lock-up: 50% unlocked at TGE, 50% locked for 1 month


  • Marketing (Influencer marketing, Ads campaigns)
  • IT costs (Fixed IT costs, server hosting costs, Marketplace IT operational costs)
  • Personal costs (Management team Developers and other staffs, overhead employee cost)
  • Phase 2 development of the roadmap.
  • Marketing Campaign


Core Team and Future Hires (10%) 1 year lockup 10 months vesting. These tokens may be subject to a further lock up period for future employees along with the existing team to further our commitment to a healthy long term outlook for the PXR token.

Partners & Advisors (10%) 6 month lockup 10 months vesting. To attract long-term supporters of the project we chose to lock-up advisors and partners for 6 months and then vest them linearly over an additional 10 months. Therefore, all of these parties continue to have a vested interest in helping the company after the release of the token rather than focusing primarily on the pre-sale period.

Foundation (Network Growth & Marketing) (33.7%) Locked for 6 months 1% released monthly. These small batches of tokens when released will only be used in conjunction with marketing efforts to further ProjectX’s awareness and increase the overall user base.

Ecosystem Reserve (Underwrites the Exenomy) (31%) Locked until full product launch, highly unlikely to ever be used.

About BSClaunch

BSClaunch is a smart investment platform built on BNB Chain, an ecosystem launcher that provides a full suite of DeFi solutions, enabling projects to raise capital in a decentralized environment and the community to invest with safety, freedom, and equal opportunity.

Follow BSCLaunch on:

🔗 Website 🔗 Twitter 🔗 Channel 🔗 Discord

✔️ Buy $BSL token: PancakeSwap
✔️ Farming Pool: B-Farm
✔️ Staking Pool: B-Stake



BSClaunch Official

Incubation accelerator for entrepreneurs to create moonshot projects. #IDO #IGO Launchpad, Yield Farming. Top connections in crypto spaces — $BSL #Crosschain