Binance Smart Chain is the next major blockchain trying to build up its DeFi ecosystem. Several projects that provide exposure to decentralized finance have already launched. The following ventures are all worth checking out, yet no one should invest blindly.
There is a growing demand for decentralized trading platforms, or DEXes. Most of these platforms offer the same user experience, although the introduction of AMM has been a welcome change. BakerySwap wants to position itself as the leading AMM DEX on Binance Smart Chain. With no pre-sale and pre-mine, and maximum rewards for BAKE stakers, there are some interesting options to explore. It will also provide altcoin liquidity pools not native to the BSC ecosystem, which is worth keeping an eye on.
Every popular DeFi platform seems to have “finance’ in the name, for better or worse. Bounce.Finance leverages Binance Smart Chain to become a DAO for financial auctions and settlements. It will also offer a competitive swap environment. Liquidity providers will receive BOT token rewards, incentivizing them to stick around for a while. The trading of BOT is available on OKEx as well, lending slightly more credibility to this project as a whole.
Another decentralized trading platform with AMM features is BurgerSwap. It too seeks to leverage Binance Smart Chain for faster and cheaper transactions. Putting community and governance first is a good sign, as are the incentives for the liquidity providers. It is designed to welcome a lot of new tokens, although the community has to approve proposals for specific coins.
Similar to traditional DeFi platforms, lending plays a crucial role for ForTube. It aims to become the world’s top DeFi lending platform developed by The Force Protocol. It is one of the few projects launching on Binance Smart Chain, making it an interesting option to look into by default. There is also an AMM Dex pool to provide liquidity to. Providing decentralized lending services by supporting popular assets remains an ambitious goal.
The final project on this brief list is Spartan Protocol. The developers see it as an incentivized liquidity and synthetic asset generation project leveraging the benefits of Binance Smart Chain. Its main net was launched a few days ago, and there are already dozens of projects leveraging Spartan Protocol, according to a blog post. Very strong momentum out of the gate, but keeping the excitement alive never comes easy.
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