Top Binance Smart Chain Projects

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    Top Binance Smart Chain Projects

    Binance Chain is popularly known for facilitating fast and decentralized trading. It also has the biggest decentralized crypto exchange known as Binance DEX. It is user-friendly and easily accessible but it has some limitations, the lack of flexibility is one of them.

    Smart Contracts have brought a revolution in the blockchain world. Binance Smart Chain (BSC) is an independent blockchain that runs parallel with the Binance Chain and supports smart contracts functionality. The purpose of building Binance Smart Chain was to integrate Smart Contracts in the Binance Chain environment.

    Key Features of Binance Smart Chain

    Here are some of the top features of Binance Smart Chain that has made it extensively popular in the crypto space:

    • It supports Ethereum Virtual Machine.
    • It is a completely independent blockchain and can run without Binance Chain.
    • It supports most Ethereum tools and DApps.
    • It supports cross-chain compatibility and allows users to easily transfer their assets from one chain to another.

    Binance Smart Chain has got its popularity from the fact that Ethereum cannot handle a huge amount of transactions. Due to the Decentralized Finance boom, the number of transactions has increased dramatically and Binance Smart Chain rose as an alternative to Ethereum blockchain. BSC has now become the talk of the town and thus it’s important for you to know about the top 5 BSC projects.

    Top 5 Projects on Binance Smart Chain

    1. PancakeSwap: CAKE

    Launched at the end of 2020, Pancakeswap has become the leading decentralized exchange on BSC. With the massive growth of its native token CAKE, it has been in demand among investors. Also, the exchange is growing rapidly and is competing with leading decentralized exchanges like Uniswap and SushiSwap.

    PancakeSwap is a unique platform for users to experience the features of DeFi. It allows swapping, farming, staking, as well as NFT trading. It is a favorite among users as it provides the features of Ethereum Blockchain at a faster speed with lower transaction fees. Though, it lacks the level of decentralization that larger blockchains like Ethereum ensures.

    Talking about the price of the CAKE token, the initial offer price was as low as $1.40. By the end of 2020, the prices stopped much lower. However, in late January, the demand for this governance token rose as the transaction volume on the PancakeSwap rose significantly. In January, the token was trading at $1.49, which has reached $35.40 as of writing this article. The token has already thrashed all the previous price predictions and it seems that the rise in the value of the CAKE token is not going to stop anytime soon.

    2. Autofarm: AUTO

    Autofarm is an aggregator that works for you and makes the swaps at the most suitable time, applying the most profitable strategies. Autofarm Network can be understood as a bundle of products in Decentralized Finance. AUTO is its governance token that was initiated on the Binance Smart Chain in mid-December 2020. Autofarm provides DEX aggregation and interest rate aggregation.

    It is the first cross-chain yield aggregator which was initially launched on BSC but later expanded its reach to the Huobi ECO chain. It relieves the investors from manual harvesting as Autofarm compounds the assets in your vault automatically, getting you the best results.

    Apart from yield farming, you can also earn AUTO, the native token of Autofarm Protocol. It opens the door for good earnings. This is a new protocol and already it is handling $400 million worth of assets.

    3. Spartan Protocol

    This protocol is known for its idea of creating synthetic assets. It aims to build a decentralized exchange based on the Automated Maker Machine model and liquidity-sensitive fees. It is built on the Binance Smart Chain, which has gained popularity in the last couple of months.

    The Spartan Protocol is still under development. Its native token is the SPARTA token. It provides several tools and apps which can be found on other popular DeFi platforms. The key feature of Spartan Protocol is its incentivized liquidity pools that can be used to create synthetic assets. The protocol uses its SPARTA tokens to incentivize investors who contribute towards the liquidity pools. These pools are supposed to be used for the token generation, derivatives, lending, etc.

    Currently, as of writing, the token is trading at $1.12. The platform is still unknown to many, but it is expected to gain more exposure in the coming years.

    4. Venus XVS

    The next big change in the crypto world is Decentralized Finance and Venus protocol is working towards it. It is a decentralized money market system that believes in a complete DeFi based lending and credit system built on the Binance Smart Chain. It enables the generation of synthetic stablecoins backed by native BEP-20 tokens to facilitate digital lending.

    Features that make Venus XVS different are as follows:

    • It facilitates over-collateralized lending where users can use their cryptocurrency to pledge an asset and borrow an over-collateralized asset whose value is 75% or lower.
    • It can mine VAI, its synthetic stablecoin, which is tied to USD at 1:1.
    • The users are rewarded with interest for supplying collateral to the platform.
    • XVS Token is the currency native to this platform. This token is used for voting while making important governance decisions like changing parameters, creating or adding new collateral, etc.

    Presently the token is trading at $72.60 as of writing. The token has an expected ROI of 32.1%, which is quite assuring. The token value is expected to reach $100, which seems in alignment with its past performances. The token is worth investing in as it is expected to reach its all-time high in the near future.

    5. BakerySwap

    BakerySwap is a Decentralized Exchange built on the Automated Maker Model and is one of the earliest Binance Smart Chain projects. It is a DeFi project that supports altcoin liquidity pools. The users who contribute towards these liquidity pools are rewarded. Investors and users themselves create the liquidity pools on BakerySwap. Users trade against these liquidity pools, and those who add liquidity get liquidity provider (LP) tokens in return. One more feature of BakeySwap is that it also offers NFT trading. The main aim of this DEX is to offer the best services at a faster speed and lower costs.

    The native token of BakerySwap is BAKE, which can be earned by either farming or providing liquidity. It is also used for Governance voting. These tokens can also be used to create new NFTs.

    Currently, the token is trading at $2.26 and its expected growth rate is 100% in the next year. With its trading volume already crossing $2 million, the platform is expected to grow significantly in the future.

    Final Words

    These top BSC projects have found their way into this list based on their idea, innovation, and the ability to make the crypto world better. The crypto market is expanding and developing at a rapid pace. Many innovative projects, platforms, and protocols are emerging every now and then. No doubt, the future of Binance Smart Chain is promising considering the success of the projects that are built on it.