CryptoMode DeFi Watchlist Binance Smart Chain

Every blockchain ecosystem needs applications, services, and products to ensure it remains relevant. For Binance Smart Chain, DeFi projects continue to drive tremendous growth and value. The overall volume over 30 days also looks rather impressive for some of these Dapps.

PancakeSwap (DEX)

No real surprise to see PancakeSwap top the list of DeFi applications on the Binance Smart Chain. It is a prevalent decentralized exchange and Defi-Oriente platform that provides convenient access to hundreds of options. With 2.16 million monthly active users and $16.2 billion in volume, it seems unlikely any other solution will rival PancakeSwap in the future. However, the Binance Smart Chain ecosystem needs some competitiveness, as that will always benefit the users.

ApeSwap (Trading)

The ApeSwap platform is a relatively new addition to DeFi on the Binance Smart Chain. Its platform offers trading functionality, yield farming, liquidity pooling, staking, and other options for users to explore. It is a relatively active dApp with 366.8k users in the past month and $31.6 million in volume. Those numbers put it very far behind Pancakeswap, but there are some positive trends to take note of.

Autofarm (DeFi)

As a convenient DeFi solution for yield farmers, Autofarm is carving out its position in the blockchain-based decentralized finance space. While the protocol also exists on HECO and Polygon, the majority of its TVL is in BSC. Its overall monthly volume has risen to $528.3 million, courtesy of over224,700 unique users. An exciting platform worth keeping an eye on.

Pancake Bunny

As a “companion” solution to PancakeSwap users who want to earn more $CAKE rewards, Pancake Bunny will help users optimize their yield. The DeFi yield farming aggregator and optimizer for BSC and Ethereum blockchains has $725.6 in monthly volume, despite noting only 52.300 users. It is very intriguing statistics, as it confirms there may be some $CAKE whales exploring the Pancake Bunny service these days.

Biswap

As a relatively new decentralized exchange on the Binance Smart Chain, Biswap provides its users exchange, liquidity, and launchpool services. Moreover, there are nearly 43,000 monthly active users, although there is no monthly trading volume yet. The platform is too new to measure those metrics, although it has quickly overtaken BakerSwap and 1Inch Network on BSC for active users. Next month’s statistics will undoubtedly look very different for this project.


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