The Binance Smart Chain, or BSC, is more than just a home for the BNB currency, it offers so much more. It is a relatively new blockchain ecosystem parallel to the pre-existing Binance Chain that allows blockchain developers to utilize its high-performance platform for the development of fast, efficient, and low-cost decentralized applications.
Just recently, the Binance Smart Chain accomplished the 500 project landmark and now houses over 500 decentralized projects conveniently with no hassle. This article will discuss the most promising projects on the Binance Smart Chain.
Pancake Swap (CAKE)
Launched in September 2020, Pancake Swap is one of the top decentralized exchanges on the Binance Smart Chain with millions of active users. It is an Automated Market Maker (AMM) that allows users to exchange tokens and also provide liquidity through farming.
CAKE is the official token of PancakeSwap and also the reward incentive token for liquidity pool users. The project allows users to earn more CAKE when they stake their tokens or re-stake their CAKE tokens.
Defi Yield Protocol (DYP)
DeFi Yield Protocol is a platform that provides solutions to users and business investors when diversifying their risk during yield farming, staking, and NFT collection. It does this through the use of a built-in anti-manipulation feature, which limits the market impact on anybody transferring their rewards to Ether or other native tokens. DYP is the DeFi Yield Protocol token and is mostly used for staking.
Venus is another popular project on the Binance Smart Chain. It is an algorithmic money market and stablecoin protocol that was officially launched in September 2020. Its stablecoin protocol operates as a borrowing and lending scheme where cryptocurrency assets are given to users irrespective of their present collateral. This allows them to earn whilst loading less to network or gas fees.
Venus has two native currencies: VAI and XVS. The VAI token is the aforementioned synthetic stablecoin, whereas XVS is the governance token. Hence, decision-making like project and product updates and improvement are wholly controlled by the holders and members of the XVS community, the founders, Venus protocol executives, and advisors.
LendiFi is another BSC DeFi protocol that makes it easy for anyone to lend their stablecoins and earn rewards. It allows for uncollateralized loans for borrowers and leverages top lending pools.
LDFI is the native BEP-20 token for LendiFi Finance and can be used for a variety of purposes such as governance, reward distribution, and interest control.
Launched in April 2021, MoBox is a fairly new addition to the BSC ecosystem. It is a community-driven GameFi project that incorporates elements of DeFi yield farming with Gaming NFTs to appeal to gaming fans, particularly those interested in the play-to-earn module. The project combines DeFi, NFT, gaming, and community influence to create an ultimate and immersive digital world called the MOMOverse.
MBOX is the native token of the MoBox platform and it is used for governance, gaming, and transactions.
CryptoBlades is another NFT-based game hosted on the BSC network and allows players to earn SKILL tokens by using power weapons to defeat opponents. These tokens can be used by players for upgrades and to level up their characters. SKILL is the native token for CryptoBlades and allows for governance, in-app purchases, and social interaction.
1inch Network (1INCH)
1inch is a decentralized protocol that allows for secure and fast operations in the decentralized world. It is an aggregator that ensures users get the best of transaction deals by actively searching through the decentralized space and facilitating simple and high-speed swapping. It has embedded tools like dynamic pricing, conditional orders, stop loss, and more to aid users.
1INCH is the governance token of the project and allows for voting on developments under the DAO model.
It is a cross-chain aggregator that allows for the exchange of a user’s investment immediately to a more profitable one. It operates by integrating DEC, Swaps, and Vaults to help split a user’s trade all over multiple decentralized exchanges. AUTO is AutoFarm’s official token and is used for governance.
Pool lotto is a sophisticated decentralized lottery system built on the BSC that ensures transparency, speed, and safety. It incorporates automated and safe payments, NFT collection, DAO, and much more within its ecosystem. Pool lotto aims to provide a trustless model for lottery operations through the use of smart contract technology, which promotes transparency and reduces third-party involvement over participants’ funds and decisions.
PLT serves as the fuel for the Pool lotto ecosystem and is used for payments, governance, and NFT collection.
It is a blockchain launchpad that helps close loopholes in preexisting launchpads. It aims to democratize access to new projects at their early stage and benefits the holders of the token. It is a dual-round system that operates solely on the fair distribution of rewards to all users, meaning no lucks or bots.
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