Best BSC DeFi Protocols in 2021

Memes aside, let’s take a look at some new and existing low to mid cap gems to look out for on Binance Smart Chain

Most people thought that DeFi met their peak in October 2020. Yet, the crypto bull run revitalized the initiative, and the race for the best DeFi crypto project has even more potential winners. DeFi, short for Decentralized Finance, refers to a crypto sector that works to bring most of the traditional finance’s capabilities inside the cryptocurrency space. It does that by disassembling the various financial services and decentralizing them.

When it comes to the creation of next-generation financial primitives, Decentralized Finance (DeFi) does just that. By leveraging open source software and composable frameworks, DeFi allows anyone in the world to utilize financial services in a trustless and transparent manner. Simply put, DeFi aims to remove intermediaries to provide the world with a globally inclusive financial system.

DeFi projects usually denominate dapps and infrastructure such as asset management tools, decentralized exchanges (DEX), DeFi infrastructure & Dev Tooling, and many others.

Although they are risky to invest in and use right now, the more time passes, the more they optimize and come out with better tokenomics

New capabilities, improved tokenomics, and filling the gaps of 2020’s DeFi projects — these are just a few of the things we will see in the rest of 2021. Binance Smart Chain (BSC) is a dual-chain architecture that allows users to build and develop their own digital assets and decentralized apps on one blockchain. The platform also empowers users to take advantage of the growing trade to exchange from one blockchain to the other. Since its launch, BSC has enjoyed significant growth in activity and volumes.

The chain enjoys backing of the largest crypto exchange Binance and has taken the crypto world by storm thanks to its perfect market fit: Ethereum clone with low fees and fast transactions.

Here are some of the best long term DeFi BSC projects to look out for:

AutoFarm

AutoFarm is a yield optimizer on the Binance Smart Chain and Huobi ECO chain with currently around US$1b total value locked (TVL) into its farming pools. At its peak, AutoFarm has 2b TVL!

The main differentiator for AutoFarm compared to other farming projects is that they have one of the lowest fees in the market.

Users can use the AutoFarm protocol’s paid-in capital to increase trade efficiency that lead to increased interest. The protocol is based on the same principles as Yearn Finance (YFI).

Autofarm also has a DEX aggregator that users can use to exchange tokens at the highest rates within the BSC ecosystem. Users can use the DEX aggregator to scan through the various exchanges and locate those offering the best deals and the best trading conditions. AutoFarm is similar to 1inch (1INCH), another DEX aggregator based on the Ethereum blockchain.

Auto Vaults, which auto-compound your yields at empirical optimal intervals, while pooling gas costs through battle-tested smart contract code and best in class yield optimizing strategies.

Autofarm claims that it uses a proprietary dynamic harvesting optimizer to enable the highest APYs on their vaults.

Auto Swap, is a DEX aggregator that gets you the best prices from your DEX trades. It is currently undergoing development.

AutoFarm Swap splits your trade across multiple DEXes to ensure the best prices and lowest slippage possible.

Website: https://autofarm.network/

Bearn.Fi

bEarn Fi is a cross-chain yield aggregator on Binance Smart Chain blockchain (BSC) and Ethereum blockchain. Bearn has one of the most complete ecosystem in the DeFi space, covering almost all of the important infrastructures. bEarn.fi is vision of a whole suite of products & ecosystem running on Binance Smart-chain. From stablecoin, lending, auto-compound, AMM, NFT, lottery, farms to many other more features, BEARN is basically the only protocol you need if you are looking to use one protocol for many features.

Main products

Algorithmic stablecoin — bDollar

bDollar is the first algorithmic stablecoin on Binance Smart Chain with an innovative solution that can adjust its supply deterministically to move the price of the token in the direction of a target price to bring programmability and interoperability to DeFi.

Binance Smart Chain Vaults

The first and most advanced yield-farming aggregators on BSC that generate yield based on opportunities present in the market automatically. Vaults benefit users by reducing gas costs and focus on returning maximum profit to depositors.

Inspired by BSC — an innovative solution to bring programmability and interoperability to DeFi with high speed and low gas costs. Thus, users do not need to have a rich knowledge of the underlying protocols involved or DeFi and they are still able to have a passive income.

Gaming

The first cross-chain project that allows users to play multiple games on both BSC and Ethereum blockchain.

The reason why real time gaming’s don’t work well on the Ethereum network is because the network is relatively slow, gas fees can be high at times and network congestion can also play a major role. This is where BSC comes in.

Bridge

Cross-chain portal to transfer assets between BSC and Ethereum blockchain.

Treasury

Treasury that enables users to obtain coverage against financial loss for various smart contracts and protocols on the BSC and Ethereum blockchain. And treasury will be controlled under governance.

Governance

The Bearn Fi ecosystem is controlled by BFI and BFIE token holders who submit and vote on proposals that govern the ecosystem. Proposals that meet requirements (>30% of the tokens staked in the governance contract) and generate a majority support (>50% of the vote) will be processed.

Website: https://www.bearn.fi/

ExoniumDEX

Formerly a CEX since 2018, Exonium transited to decentralised exchange in 2021. ExoniumDEX is a decentralised exchange (DEX) primarily designed to be a unifying exchange of all cryptocurrencies and synthetic assets through a unique oracle concept and bridging function. It will be used to support all on-chain or off-chain assets on various blockchain, providing significant liquidity to the decentralised finance (DEFI) universe by being all-inclusive. As a one-stop DEX, ExoniumDEX will be positioned as a pivotal platform in the cryptocurrency space, allowing inter-exchange of all assets regardless of blockchain technology in a safe, transparent and permission-less environment.

It is well understood that Ethereum has the prime blockchain of choice for the DEFI space. This is in the face of obvious limitations in scalability. The reason for this is the emphasis of the network, both for users and projects, therefore producing the strongest user-base and community, which in turn spins off a network effect of user propagation.‌

Network effects can only be prevented or stopped at the boundaries, which in blockchain, is clearly defined as the lack of interoperability between Ethereum and the others.‌

Many solutions can be found, trying to provide some interoperability. However, these solutions either fail at the usability level (too difficult) or user adoption level (too early, too different). The current surge of users who are familiar with Ethereum-based DEXes and wallets makes it a great opportunity like never before, to merge the interoperability of chains through an Ethereum based unifying platform.

During the initial launch phase, ExoniumDEX will leverage on the existing Binance Smart Chain infrastructure before mainnet launch. The ExoniumDEX team concluded that BSC will be the best option for equitable distribution and community growth during the early stages of development. Features built on Binance Smart Chain during initial phase will consists of but not limited to -‌

  1. Staking Pool
  2. Liquidity Mining
  3. tEXO Collaterised Stablecoin
  4. Synthetic Assets
  5. Yield Optimiser

Website: https://exonium.one/

PantherSwap

The PANTHER token is the first to feature automatic liquidity acquisition Yield Farm and AMM operating through the Binance Smart Chain (BSC). The goal for Panther Swap is for it to be stored by users.

For some observers, the token could experience the same rise as the Safemoon project. On the Panther Swap platform, it is also possible to access a project roadmap. This makes it possible to assess the implementation of new functionalities and compliance with the roadmap.

Panther Swap is a project that incentives staking in a different way. The deposit fees that will make it possible to buy the token are in fact paid back in large part to the owners of the PANTHER token. The project also provides for a sponsorship program which allows each sponsor to receive 1% of the earnings of the godchildren. Without time limit.

For each transaction carried out with the token, a 5% transfer tax is levied. 80% of this 5% are in reality transfer taxes which are automatically allocated to the liquidity pool. The rest (1% of the transaction and 20% of the levied tax) is then automatically burned.

The 4% transfer tax will be used for the automatic acquisition of liquidity. And the remaining 1% will be burnt immediately. The whole process is automatic. The protocol was also designed to avoid whales which can have too much of an impact on the price of a token. Specifically, transactions that represent more than 0.5% of the available PANTHER tokens will be rejected. This figure is expected to decrease as the number of users increases. If the project really took off, this measure would aim to counter volatility as much as possible.

Website: https://pantherswap.com/

*Disclaimer: The article is my personal opinion and is not financial advice. As always, do you own research and find out more before committing your funds. My opinion may varies from your personal risk management and project research strategy.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store