Top 5 Most Promising Projects on Binance Smart Chain

Share on facebook
Share on twitter
Share on linkedin
Share on print
Share on email

There are different projects that are starting to expand on the Binance Smart Chain (BSC). This blockchain network has been created in order to offer users and developers with more efficient, fast and reliable services than traditional blockchains. 

This is why we have decided to create this guide of the top 5 most promising projects on the Binance Smart Chain. The Decentralized Finance (DeFi) market has been growing throughout 2020 and this can be seen in a large number of new projects released. 

PancakeSwap

PancakeSwap is a decentralized exchange (DEX) that runs on top of the BSC. However, this platform is working not only as a DEX but also as a decentralized finance (DeFi) services provider. 

Some of the features that are currently being offered by PancakeSwap include trading, earning interest on different yield farms and participating in the PancakeSwap Lottery. 

The trading platform works as an automated market maker (AMM) that allows users to exchange their currencies using the BSC. This is similar to how DEX work on top of the Ethereum (ETH) network. The main difference is that the Binance Chain is much more efficient, in terms of fees and transaction times. 

The Earn solution is going to help users earn the CAKE cryptocurrency. This can be achieved by participating in yield farms, staking and also Syrup pools. Syrup Pools allows projects to distribute a portion to their tokens to CAKE token holders. 

Finally, the PancakeSwap lottery allows users to match 4 numbers on the tickets they purchased and win 50% of the entire lottery pool. However, users that match 2 or more numbers in the correct position are also guaranteed to win a reward. 

In the last week, PancakeSwap has registered 34,44k users that handled a volume of $106 million. Furthermore, 64,910 transactions have been processed using PancakeSwap. Nowadays, this is the largest project running on top of the Binance Smart Chain network. 

Pancacke Swap

BSCex

BSCex is a new decentralized cryptocurrency exchange that wants to make Binance off-chain services available on the blockchain. Moreover, the team behind BSCex is also working in order to promote many features of the DeFi market in order to provide users with economic benefits. 

BSCex works by applying a technology called Cross Liquidity Layer 2. In this way, it is possible to use the liquidity of different AMMs on the BSC in order to offer users with even better liquidity and yield-farming services for traders. 

Some of the services offered by BSCex include SwapX, Launchpad, LaunchpoolX, and DexX. SwapX is the key product offered by the BSCex ecosystem. It works as Binance’s Liquid Swap but it offers far more advanced solutions and options for users. In addition to it, SwapX supports other stablecoins and digital assets, making it more accessible to everyone. 

As the names suggest, LaunchpadX and LaunchpoolX represent the Binance exchange solutions but on the blockchain. By using the LaunchpadX, users can easily raise funds through Inital Dex Offerings (IDO). The LaunchpoolX allows investors to use tokens to farm new tokens for free. This would reward users with newly minted coins that can be later traded. 

The DexX is the decentralized crypto exchange that uses the latest technology to get the best liquidity for traders. This would allow users to have the functions of a centralized exchange and a wide range of market orders. 

BSCex official website

Venus

The Venus Protocol is the second of our top 5 most promising projects on Binance Smart Chain. Venus works as an algorithmic money market system that aims at bringing a decentralized lending and credit system to the Binance Smart Chain. 

The team behind the Venus protocol has been working in order to offer users the possibility to borrow assets whose value is 75% or lower than the assets supplied as collateral. Furthermore, individuals can earn interest by providing liquidity to the protocol. 

Furthermore, users can mint the VAI digital asset. VAI is a stablecoin pegged at a 1-to-1 ratio to the U.S. Dollar. Additionally, users will get access to the XVS token that works as a BEP-20 governance token. Users will be able to use it to vote and be part of the decisions of the network. 

Venus is also one of the largest protocols running on top of the Binance Smart Chain. In the last 7 days, there have been 1.21k users on the platform that handled a total volume of $96.44 million and processed 14,760 transactions. 

Venus Binance

BakerySwap

BakerySwap is also one of the largest and most popular protocols running on top of the Binance Smart Chain. This project works as a decentralized and automated market-making protocol that is also offering NFT trading solutions to users. 

In addition to it, BakerySwap is also working in order to become the evolution of Uniswap, one of the largest DeFi protocols in the cryptocurrency market. The main difference is that BakerySwap can offer better services at a cheaper price and in a much more efficient way. 

BakerySwap works with the BAKE token that can be used for governance voting and also for receiving transaction fee dividends. Furthermore, users can use the token to create random combo meals, creating unique NFT that will work as a collectable item and as a farming tool for BAKE. 

It is worth taking into consideration that the rewards offered by the BAKE platform to liquidity pools include BUSD, ETH, BTC, DOT, LINK and BAKE versus BNB. 

The platform handled 715 users in the last 7 days and managed to have more than 5,670 transactions. The total trading volume was equal to $2.32 million. 

BakerySwap

Spartan Protocol

The Spartan Protocol is a protocol for incentivised liquidity and also synthetic assets that run on top of the Binance Smart Chain network. By incentivizing investors, it is possible to form and create a wide range of liquidity pools that can be used for synthetic token generation, lending, derivatives and more. 

By making incentivized liquidity pools available, it is possible to drive on-market capital formation and provide liquidity. By using a set of liquidity-sensitive fees, the system can correct token purchasing power at all times and allow for scalable growth. 

Users can create a wide range o synthetic assets that use price anchors provided by liquidity pools. These assets will also be collateralized by liquidity pool shares. 

Spartan

Top 5 Most Promising Projects on Binance Smart Chain Final Words

There are many other protocols and platforms running on top of the Binance Smart Chain network. Binance is also expanding its solutions and services to a large number of new users and traders. In this top 5 most promising projects on Binance smart chain, we have seen how DeFi continues to dominate the decentralized market. 

Via: 2Usethebitcoin.com

Leave a Replay