$BNB was up +750% in the 1st 50 days of the year. High gas prices and $100 million funding from @binance has propelled #BinanceSmartChain's TVL to be 25% of Ethereum.
What is Binance Smart Chain ? Why has it made sense for users and what are the key projects?
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What is Binance Smart Chain ? Why has it made sense for users and what are the key projects?
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#BSC isn't trying to cure cancer or be the most innovative, decentralized blockchain. They're focused on low-cost yield farming with high APYs.
This is especially useful as gas prices has skyrocketed on ETH:
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This is especially useful as gas prices has skyrocketed on ETH:
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@cz_binance doesn't hide that it's a centralized blockchain. Run on $BNB, here's how #BSC follows Ethereum:
+ It's EVM-compatible so projects are easily ported over
+ Same look & feel of the blockchain explorer
+ Biggest app is a fork of Uniswap
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messari.io
+ It's EVM-compatible so projects are easily ported over
+ Same look & feel of the blockchain explorer
+ Biggest app is a fork of Uniswap
3/
messari.io
With Binance's large treasury, growth has been exponential. In the first 2 months, there was a 7x growth in addresses and 6x growth in transactions
Projects that have already or plan to deploy include: $ALPHA, $1INCH, $CREAM, $DODO, $FARM, $LINA, $REEF, $SFI, $SXP.
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Projects that have already or plan to deploy include: $ALPHA, $1INCH, $CREAM, $DODO, $FARM, $LINA, $REEF, $SFI, $SXP.
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Here, we take a deep dive into the blockchain, what the key resources are and all the major tokens on #BSC.
Let's take a look at Decentralized Exchanges: $CAKE, $BAKE, $DODO, $JULD, $BURGER, $ANY and $BANANA. Many are @Uniswap and @SushiSwap clones.
5/9
Let's take a look at Decentralized Exchanges: $CAKE, $BAKE, $DODO, $JULD, $BURGER, $ANY and $BANANA. Many are @Uniswap and @SushiSwap clones.
5/9
Lending: Venus $XVS - is similar to @AaveAave, @MakerDAO and @compoundfinance. It has $4 billion in TVL and offers higher yields compared to those found on Ethereum.
Asset Management: These protocols like $AUTO are similar to @iearnfinance and @harvest_finance
6/9
Asset Management: These protocols like $AUTO are similar to @iearnfinance and @harvest_finance
6/9
NFTs: @binance 's first experiment @binancepunks transacted $2 million in minutes. There are a few marketplaces being built -- and DEXs also have their own NFT platforms
7/9
7/9
This isn't a "trustless" environment. @binance's reputation plays a key role in trusting the blockchain.
What are the risks to centralization?
+ regulatory compliance orders
+ hacks, system failures, attacks
8/9
What are the risks to centralization?
+ regulatory compliance orders
+ hacks, system failures, attacks
8/9
Binance would need its own developer community if it truly wanted to be a leader. But for now, they're focused on a specific niche --> copycat services to meet the demands of their audience.
By this metric, #Binance is executing extremely well.
messari.io
9/9
By this metric, #Binance is executing extremely well.
messari.io
9/9
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