Have you ever tried energy drinks like ‘Burn’, ‘Red Bull’ or ‘Monster’? Despite the fact that it does not give you wings, it helps in increasing productivity when needed. Unfortunately, it also has negative effects such as contributing to weight gain or increasing sugar levels. For this reason some prefer coffee, it is no wonder that it is defined as a drug. Now, imagine something similar to caffeine or taurine but for a DeFi project and that wouldn’t have side effects. That would be a bomb!
Well, the good news is that this “booster” actually exists, and its name is Binance Smart Chain. The question naturally arises, what makes BSC different? In short, it provides a robust ecosystem for decentralized finance projects, even those built on top of the Ethereum blockchain. Digging deeper, BSC boasts one of the fastest blockchain transaction times and lowest fee structures. It is not surprising that an increasing number of application developers are choosing DeFi BSC.
We have to give a note to the team for making the Binance Smart Chain compatible with the Ethereum Virtual Machine (EVM). Otherwise, projects will not be able to migrate their Ethereum DApps to the Binance Smart Chain with minimal configuration and avoid high ETH transaction fees. Hopefully, the Ether 2.0 upgrade will cut costs and reduce electricity usage, but until then BSC will still be the best solution.
It is worth noting that until recently, DeFi projects were not very popular in Asia, but with the introduction of the Binance Smart Chain DeFi ecosystem, everything changed. Thanks to the lower fees, Asian DeFi is now gaining money and projects, proving that it holds a very promising future.
Well, enough big words! Well, if the crowd wanted battles, the emperor would give them battles. Sure, the crypto community is tired of promises, so let’s take a look at the really big projects that recently moved to the BSC protocol.
Without a doubt, the first project on our list will be IDEX, one of the oldest decentralized exchanges in the space. For years, it has been a popular platform for traders to buy newly listed Ethereum projects using the Metamask wallet. The problems arose when the notorious gas fees began to increase. By the way, something similar is happening now for Uniswap.
However , IDEX He is not satisfied with the fact that he is losing market share. For this reason, it decided to launch a multi-chain solution by extending its infrastructure to BSC. Obviously, the ultimate goal is to attract new assets and reduce settlement costs. In addition, the IDEX team plans in the future to integrate with Polkadot and Algorand.
2. 1 inch mesh
The second project on our list will be a 1-inch grid. In short, it is an aggregator of decentralized exchanges that allows users to access liquidity from various exchanges and optimize trading strategies using smart contract technology. The platform allows holders of crypto assets to buy, sell and exchange their tokens across multiple platforms. The reason for moving to the BSC protocol is to increase scalability and reduce transaction fees.
3. Nimbus DeFi
It will be the final project nimbus, a DAO-controlled platform that offers you 16 profit strategies based on clear revenue-generating processes: IPO participation, peer-to-peer lending, startup financing, and more. All of this is based on smart contracts and backed by several layers of risk management.
According to their blog MailAnd the “The integration opens up many new opportunities for the community and allows for cheaper and faster interaction with the Nimbus platform and tokens. Ultimately, it will also help the Nimbus tokens to be listed on Binance and boost the growth of the Nimbus community in China.” It is critical for the team to have a clear goal and great behaviour.
It is worth noting that the Nimbus platform already has 50,000 active users. By expanding on the BSC protocol, Nimbus users and liquidity providers will be able to interact with Nimbus functionality without having to deal with exorbitant gas fees. In addition, it will allow growth in the Chinese market – which in turn should provide benefits to all Nimbus token holders.
Last but not least, the move to the BSC network also means the launch of the standard BEP-20, NBU and GNBU tokens. Their launch on the Ethereum network resulted in 3x price growth in just a few days, so there is definitely a lot to expect from this new launch as well! The key date in this sense is June 9. Nimbus releases the BEP20 token in their internal swap.
For those interested in The projectKeep in mind that Nimbus offers 16 profit strategies to users enhanced with multiple layers of risk management. Furthermore, it was among the first DeFis to provide access to an IPO in the crypto industry.
Image by Robbi Drake from Pixabay