Octav is a free, anonymous, and editable data analytics platform that helps DeFi traders track their decentralized finance investments regardless of skill and experience. This portfolio tracker boasts a user's curated database providing users with in-depth information, including cost-basis, profit, loss, and more. However, its top feature is a user-editable dashboard enabling traders to make better-informed investment decisions. Most DeFi trackers, even after several years on the market, still need this essential function. A high-performance analytics platform rarely lands in…
5 Interesting BNB Chain DeFi Projects to Check
This year has seen the restructuring of the crypto sector in many different ways. The DeFi and NFT sectors’ growth has greatly strained older blockchains, such as Ethereum. These networks were built in a way designed to increase their fee structure based on the blockchain’s congestion. Unfortunately, this design flaw has created record-high gas fees for users. These fees have left many in the market searching for viable alternatives.
One option that has seen considerable growth due to these factors is the BNB Chain. As a result, BNB Chain is now the fastest-growing Ethereum competitor in the DeFi and NFT markets. A variety of new and exciting projects has fueled this growth. Here are five interesting BNB Chain projects.
PancakeSwap is a BNB Chain-powered DEX and AMM. The network provides users with an easy way to swap BEP-20 tokens securely and efficiently. PancakeSwap was built to compete directly against the world’s top DEX, Uniswap. To that extent, it has seen considerable advancements. Notably, PancakeSwap is much cheaper and more responsive than Uniswap.
Like Uniswap, PancakeSwap leverages large liquidity pools to allow new projects to launch efficiently. In addition, users can find many tokens exclusive to the network alongside all their ETH-based favorites. For example, the network has an average transaction time of around 5 seconds and lower fees. Currently, PancakeSwap is the largest Dapp on the BNB Chan. Best of all, it doesn’t require any KYC/AML registration.
Ren is an open protocol that seeks to tackle one of the most pressing issues facing the DeFi sector, a lack of decentralized interoperability. The developers behind Ren have sought to create a platform that embodies the core aspects of DeFi. Specifically, the platform provides a trustless, permissionless, decentralized, and private user experience. Specifically, Ren enables developers to create smart contracts on any blockchain to control tokens on other blockchains.
The network launched in 2017. Originally it operated as a “dark pool,” allowing traders to open orders privately. In 2018, the network opened its dark pool programming capabilities to all developers. Today, the network offers a truly private UX through the integration of end-to-end encryption technologies. In this way, Ren introduces a new level of privacy and interoperability to the entire DeFi sector.
Autofarm is a cross-chain yield aggregator. Yield aggregators automatically switch your investment to the most profitable liquidity pools. The network has seen many adoptions due to its capabilities. Notably, the network recently climbed to second place on the DappRadar rankings after generating over $40 billion in volume. The network is unique in many ways. It is not a hard fork of Uniswap like many competitors, including PancakeSwap.
Autofarm was the first cross-chain yield optimizer to launch on BNB Chain successfully. As part of its strategy, the platform integrates Vaults, Swaps, and a powerful DEX protocol. The DEX splits your trades across multiple DEXs to provide users with the best pricing and avoid slippage. Currently, the yield-optimizing protocol operates on both the Binance Chain and Huobi ECO chains. Part of this growth can be attributed to a recent interface revamp.
Pancake Bunny is another popular DeFi yield aggregator. This protocol was built to provide PancakeSwap users with higher ROIs and a more streamlined approach. Pancake Bunny automatically offers its services to all PancakeSwap LP pairs. Also, users enjoy access to auto-compounding features to enhance profits further.
Pancake Bunny has seen growing adoption in the market since its launch this year. The combination of higher rewards, lower fees, and a more responsive farming experience has recently helped drive interest in this platform. Pancake Bunny offers BUNNY, CAKE, BUNNY-BNB, CAKE-BNB BUSD-BNB, USDT-BNB, DAI-BNB, USDC-BNB, VAI-BUSD, and USDT-BUSD Pools.
Dypius is another exciting project that has helped garner more attention to the BNB Chain benefits. This platform integrates all the top DeFi functionalities into one easy-to-navigate interface. Users can access powerful staking, farming, vaults, and mining pools. These features make it easy for new users to secure reliable ROIs without previous market experience.
Notably, DYP also leverages some deflationary protocols to control the platform’s native token value better as time progresses. Best of all, DYP users can utilize these services at a fraction of the cost of conducting the same activities on Ethereum. Additionally, the network leverages a community governance mechanism to give its users more control over the project’s direction.
5 BNB Chain Projects to Keep an Eye On
As the BNB Chain continues to expand its capabilities and user base, it pays to stay up-to-date on these developments. This unique blockchain is now more crucial than ever, as many investors are hungry for Ethereum alternatives. BNB Chain appears to be the best option at this time. For these reasons, these projects are set to see continued adoption in the coming months.