In the dynamic realm of decentralized finance (DeFi), BNB Smart Chain (formerly known as Binance Smart Chain or BSC) has solidified its position as one of the earliest and most advanced ecosystems. This blockchain platform, in fierce competition with Ethereum, now stands as the second-largest and most vibrant DeFi landscape, boasting an impressive array of over 1,000 operational decentralized applications (dApps). Today, let’s join Coincu to learn about BSC DeFi projects that you need to know when participating in this ecosystem.

What is BSC?

Binance Smart Chain (BSC) stands out as a dynamic and community-driven ecosystem, maintaining its commitment to decentralization and open-source principles. Established as a parallel platform rather than a replacement for the original Binance Chain, BSC has emerged as a pivotal player in the blockchain space.

Launched in September 2020, BSC represents a significant advancement over its predecessor, offering users an enhanced blockchain experience without rendering the original Binance Chain obsolete. The platform retains its core mission of facilitating the infrastructure required for widespread public adoption of blockchain technology.

A key feature of Binance Smart Chain is its provision of smart contracts and compatibility with Ethereum through the Ethereum Virtual Machine (EVM). This interoperability expands the possibilities for developers and users, fostering a more versatile and inclusive ecosystem.

The genesis of Binance and its native token, BNB, in 2017 laid the foundation for the subsequent introduction of Binance Smart Chain. Timed perfectly with the rise of the DeFi revolution, BSC has become a focal point for a community increasingly intrigued by alternative financial solutions and blockchain-powered use cases.

Fueled by BNB, Binance Smart Chain has evolved into a vibrant and thriving ecosystem, drawing in millions of users and hosting thousands of dApps. Notably, it has positioned itself as a dominant force in the construction of both DeFi and GameFi (Game Finance).

While boasting the largest and most versatile DeFi ecosystem after Ethereum, Binance Smart Chain has not been immune to the challenges of a rapidly changing landscape. Over time, the ecosystem has experienced saturation, leading to a redistribution of Total Value Locked (TVL) to other emerging ecosystems. This shift underscores the dynamic nature of the blockchain space and the need for constant innovation to maintain relevance.

Top 5 Notable BSC DeFi Projects

PancakeSwap

Overview

PancakeSwap has become a pivotal component of the BSC network. This is one of the leading BSC DeFi projects that users always mention when joining this ecosystem.

As a decentralized exchange (DEX), PancakeSwap facilitates the exchange of BEP20 standard tokens. What sets it apart is its operation as an Automated Market Maker (AMM), a model that eliminates traditional order books. Instead of matching trades through order books, users engage in peer-to-peer trading by contributing their tokens to liquidity pools.

One distinctive feature of PancakeSwap is its governance system, which relies on the possession of CAKE tokens. Users holding CAKE tokens have the power to participate in key decision-making processes that shape the future of the platform. This includes voting on proposals and involving the development trajectory.

PancakeSwap’s influence extends beyond its innovative approach to decentralized trading. According to data sourced from the DappRadar website, PancakeSwap currently reigns supreme as the leading application on the Binance Smart Chain network. Boasting impressive volume and a burgeoning user base, the exchange has solidified its status as a preferred choice for DeFi enthusiasts operating within the BSC ecosystem.

The exchange’s popularity can be attributed to its user-friendly interface, low transaction fees, and a diverse range of available tokens. As users increasingly seek decentralized alternatives, PancakeSwap’s prominence is expected to continue its upward trajectory, contributing to the wider adoption of DeFi principles.

Features

Trade with Ease on PancakeSwap’s AMM Platform

PancakeSwap’s Automated Market Maker (AMM) trading platform offers a familiar interface, reminiscent of Uniswap and Sushiswap. The platform enables users to engage in instant transactions without the need for registration or account creation. The key functionalities include:

• Swap: Seamlessly buy and sell BEP-20 tokens in real-time.
• Limit Orders: Set desired prices for buying and selling BEP-20 tokens through limit orders.
• Liquidity Management: Easily track and manage liquidity on PancakeSwap.
• Perpetual Derivatives: Engage in derivative trading of perpetual futures contracts.
• Cross-Chain Bridge: Convert assets from other blockchains to BNB Chain via PancakeSwap’s cross-chain bridge.

Earn Profits through Farms and Syrup Pools

PancakeSwap provides lucrative opportunities for users to capitalize on their assets through two distinct channels:

• Farms: Contribute liquidity to the PancakeSwap exchange and receive rewards in CAKE tokens. The rewards increase with higher liquidity, directly impacting the CAKE token price.
• Syrup Pools: Stake CAKE tokens to receive complimentary tokens from featured projects. Projects use Syrup Pools to promote themselves by distributing a portion of tokens to CAKE holders.

Win Exciting Prizes with Trading Contests and Lotteries

PancakeSwap introduces a dynamic element to its platform, encouraging user engagement through:

Trading Competitions: Regularly organized competitions where users can trade and stand a chance to win prizes. Prize values are influenced by factors such as the number of participants and trading volume, offering higher rewards for substantial trading activities.

IFO – Initial Farm Offering

For users seeking new token acquisition opportunities, PancakeSwap introduces the Initial Farm Offering (IFO). This feature allows users to purchase newly launched tokens through yield farming. By staking LP tokens from supporting pools, users gain the right to participate in acquiring new tokens, enhancing the diversity of their digital asset portfolios.

Venus

Overview

Developed by the Swipe Project Team, Venus introduces an innovative lending solution designed to facilitate asset borrowing within the decentralized finance ecosystem.

Venus operates on the BSC, leveraging its robust infrastructure to enable seamless lending and borrowing of various crypto assets. This decentralized protocol provides users with a platform to borrow collateral quickly and cost-effectively, enhancing the efficiency of crypto transactions. Venus is a notable name when it comes to BSC DeFi projects.

At its core, Venus facilitates lending and borrowing of a diverse range of crypto assets, empowering users to engage in these financial activities with ease. Moreover, the platform introduces the unique capability of minting stable coins using other crypto assets, adding a layer of versatility to its offerings.

Features

Over-Collateralized Lending

Venus revolutionizes lending practices with an over-collateralization model, allowing users to borrow assets valued at 75% or less of the collateral they provide. This strategic approach not only mitigates risk but also ensures a secure and efficient lending experience for users engaging in the dynamic world of decentralized finance.

Profit-Making Opportunities

The platform empowers users to capitalize on their provided collateral by offering a unique profit-making avenue. By contributing collateral to the protocol, users can unlock the potential for profit, adding an additional layer of financial incentive to their participation in the Venus ecosystem.

Mint Stablecoin VAI

Venus introduces the stablecoin VAI, a digital asset pegged to the value of 1 USD. Users can leverage their collateral within the protocol to mint VAI, with the flexibility to borrow up to 50% of the collateral value in the form of VAI. This innovation provides users with a stable and versatile asset, opening up new avenues for financial transactions within the Venus ecosystem.

CoinWind

Overview

CoinWind, a pioneering Yield Optimizer project, has emerged on both the Binance Smart Chain (BSC) and Huobi Eco Chain (HECO), offering users an automated approach to pairing tokens and maximizing profits. CoinWind is one of the very potential BSC DeFi projects up to now.

One of the key challenges that CoinWind aims to address is the issue of low revenue encountered in single-token mining, commonly referred to as staking a single coin or token. Recognizing the limitations of this traditional approach, CoinWind is set to revolutionize the landscape by dynamically pairing tokens together, thereby significantly enhancing the potential for higher returns.

In addition to tackling the problem of low revenue, CoinWind is poised to mitigate the risks associated with Impermanent Loss—a concern that has been a stumbling block for many in the crypto community. Impermanent loss occurs when the value of tokens held in a liquidity pool fluctuates, leading to potential financial setbacks. By intelligently managing these risks, CoinWind provides a secure and efficient solution for users looking to optimize their yield without exposure to undue volatility.

Features

Automated Profit Maximization

CoinWind’s core objective is to automatically optimize cash flow for users, ensuring they receive the highest profits possible. By employing sophisticated algorithms, the project dynamically moves assets to capitalize on market opportunities, offering users a seamless and efficient way to grow their investments.

Eliminating Impermanent Loss Concerns

One of the common worries in DeFi is impermanent loss, where users may experience diminished returns due to market volatility. CoinWind tackles this issue head-on by implementing a method of token movement that alleviates concerns about impermanent loss. Users can now engage in the platform with confidence, knowing their investments are protected.

Streamlined Single Token Mining

Unlike traditional Automated Market Maker (AMM) projects that often require users to deposit two different tokens into a pool, CoinWind simplifies the process. Users only need to deposit a single type of token, streamlining the mining experience and making it more accessible for a broader audience.

Quality Pools for High Returns

CoinWind takes pride in its commitment to providing users with quality pools featuring not only high-interest rates but also a solid reputation. Through meticulous research, the project identifies and integrates pools that offer the best opportunities for users to grow their assets.

Continuous Compounding for Enhanced Profits

To further boost user earnings, CoinWind implements a compounding mechanism. Profits generated within the platform are regularly entered back into the pool every 5-10 minutes, creating a compounding effect that accelerates the growth of user investments.

PinkSale

Overview

PinkSale not only facilitates project listings and Initial DEX Offering (IDO) sales but distinguishes itself with a minimalist toolkit designed for swift token development and community engagement. PinkSale is one of the BSC DeFi projects that new users prefer the most.

PinkSale’s appeal lies in its user-friendly interface and comprehensive guidance, enabling individuals and projects to effortlessly set up essential parameters for their tokens. The platform’s unique feature is its capability to directly initiate IDO sales, setting it apart from other launchpad platforms that primarily support project listings and IDOs.

To embark on the PinkSale journey, users must connect their wallets and navigate through a straightforward information verification process. The platform’s commitment to simplicity ensures that even newcomers can navigate the steps involved in creating tokens and launching IDO rounds with ease.

What sets PinkSale apart is its support for a variety of blockchain networks, currently accommodating nine different chains. These include Ethereum, BSC, Polygon, Avalanche, Fantom, Cronos, DogeChain, Alvey, and Arbitrum. This extensive range of supported chains reflects PinkSale’s dedication to inclusivity, allowing a diverse range of projects to leverage its decentralized launchpad.

Features

Launchpad Excellence

At the core of PinkSale’s functionality is its robust Launchpad, a pivotal tool that provides users with access to token formation and project development. This feature serves as the cornerstone for projects seeking a streamlined launch process.

Token Creation Flexibility

PinkSale goes beyond the ordinary by offering comprehensive support for developers in creating various types of tokens tailored to their project’s specific needs. Whether it’s a native token, liquidity token, baby token, or buy-back baby token, PinkSale provides the flexibility required for diverse project requirements.

Private Sale Opportunities

Project owners benefit from PinkSale’s Private Sale feature, enabling the creation of exclusive rounds for the community. Similar to launching a new project, this feature simplifies the process by prompting users to input necessary information and complete the process with a nominal fee.

Pin Lock for Rewards

PinkSale introduces the Pin Lock feature, allowing users to lock tokens or liquidity pool (LP) tokens to receive rewards from the project. Users can fill in the required information and complete the process by paying the transaction fee, enhancing the engagement and commitment of the community.

Airdrop Initiatives

Project owners can easily create Airdrop programs for their community through PinkSale. By specifying conditions and relevant information, project owners can review and customize Airdrop timings in the “Created By You” section.

Anti-Bot Safeguard

Pink Anti-Bot is a robust defense mechanism employed to ensure the safe listing of projects on platforms like PancakeSwap. This feature combats sniper bots during token listings, prevents multiple swaps in a single transaction, and checks the number of tokens per transaction. It even allows project owners to blacklist specific bot addresses, curbing unwanted trading activities.

Efficient Token Distribution with Multi Sender

The Multi Sender feature facilitates seamless token distribution for project owners. Whether entering individual wallet addresses or utilizing a CSV file for multiple addresses, this interface streamlines the allocation process.

KYC Verification

In line with PinkSale’s commitment to a secure launchpad, the Know Your Customer (KYC) feature ensures identity verification for buyers. Exclusive to project teams, this feature safeguards against fraudulent activities, with project registration and usage incurring a fee of 600 USD per instance.

Dynamic Leaderboard

PinkSale introduces the Leaderboard, a comprehensive ranking system that divides sold projects on a weekly basis. Providing statistics such as the total number of successful sales per week and the overall amount collected, participants can track and review detailed information about launched projects.

Biswap

Overview

As the first DEX operating on the BNB Chain, Biswap offers a distinctive trading experience with a focus on user-friendly functionality and low trading fees.

One of the standout features of Biswap is its incorporation of three types of referral programs, making it a trailblazer in the DeFi landscape. This not only encourages user engagement but also establishes a community-driven approach to decentralized trading. The referral programs contribute to the platform’s commitment to providing true value, fairness, and innovation in the realm of decentralized finance.

Features

Comprehensive DeFi Ecosystem

Biswap boasts a robust DeFi ecosystem designed to cater to a myriad of user needs. Offering a wide array of internal features and utilities, the platform enables users to engage in tasks ranging from token trading to various forms of profit generation. Notably, Biswap facilitates liquidity provision, farming, and BSW staking, providing users with a versatile and all-encompassing decentralized financial experience.

User-Friendly Transaction Fees and Refund Mechanism

A distinctive feature that sets Biswap apart is its commitment to user-friendly transactions. While other exchanges commonly charge transaction fees as high as 0.3%, Biswap takes a customer-centric approach by imposing a significantly lower fee of only 0.1%.

Moreover, what truly distinguishes Biswap is its unique refund mechanism. The platform pledges to refund the entire transaction fee to users in BSW, contingent upon the trading pair’s rate reaching 100%, with rates varying for each pair.

Generous Referral Programs

Biswap places a strong emphasis on community engagement through its generous referral programs. Users can benefit from multiple referral avenues, including the Farm referral program, where they receive 5% of the farm’s profits from referred individuals.

Launchpools Referral Rewards grant 5% of referral profits from Launchpools, and the Swap Referral Rewards program provides users with a commission for every swap order made by their referred contacts. These programs not only incentivize user participation but also contribute to the growth and vibrancy of the Biswap community.

Strategic Initiatives to Attract Projects

Biswap has strategically positioned itself as a platform that actively seeks and promotes innovative projects. The platform’s program to attract projects includes a unique token distribution system, wherein tokens are immediately distributed to the project’s large token holders upon joining the launchpool.

Additionally, Biswap organizes trading competitions to boost trading volume for project tokens. Projects applying to Launchpool also enjoy a marketing boost, gaining access to a large traditional marketing force. Furthermore, project tokens are added to Biswap Farm with high Annual Percentage Rate (APR) rates, presenting enticing opportunities for users to engage with and benefit from these tokens.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.