We know Decentralized finance and Decentralized exchange continues drive huge number in marketcap volume and users. in this DeFi space most of crypto being built on Ethereum blockchain or network, as ETH being most used token its causing network congestion and highest gas fees. however, Ethereum based transaction speed continues to dropping, which result user need to pay higher gas fees in order to complete their transaction faster.
To counter and solve problem of high transaction fees and network congestion Binance Smart Chain built by Binance community and funded or investment by Binance. BSC is short name of Binance Smart Chain, which has no relation with Binance which is confirm by founder itself. Binance founder Changpeng zhao makes clarification about not being involved in BSC via twitter account. however, BSC performing very well by offering lowest gas fees and faster transaction approval time.
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Binance Coin is exchange based token of world biggest and best crypto trading platform Binance. BSC is home of BNB currency, as BNB works as main currency to on BSC based DEX and DeFi Project. in order perform any operation on BSC based platform BNB will be used to pay transactions fees. BNB BEP-20 version is mostly used to swap with any other BEP20 Token, so working of BNB is similar as ETH for ERC20 network. in future, as BSC network demand increase which means demand of BNB will increase, which keeps pushing BNB price with upward trend.
biggest and most used BSC decentralized exchange that aim provide multiple features like instant token swap, liquidity providing, exchange, yield farming and more. Pancakeswap mainly used to perform BSC based token swap instantly with integration of multiple wallets like TrustWallet, Metamask and more. just like uniswap is important for Ethereum based project, similarly Pancakeswap will be important for BSC based project. PancakeSwap launches it own token to provider multiple opportunity to earn from platform along with multiple benefit for liquidity provider. Cake is utility token of Pancakeswap ecosystem which was listed in September 2018 with price $1.28 and now its ROI crosses 3400% as per CMC data.
Venus is nothing but decentralized marketplace that offer services for lender, borrowers with borderless stablecoin. Every venus protocol-based token will be bounded by BEP-20 token standard built on Binance smart chain. Venus is 3rd biggest pure BSC based project by market cap volume, which is rank under top 100 all time biggest crypto project. Venus will be following same fundamental as DAI stablecoin based on ERC20 network. so, similar as DAI, Venushas VAI which backed by basked of stablecoin and DeFi crypto assets. Venus utility token XVS is main token of ecosystem, which was listed in October 2020 with average price $2.07 and now it already crosses ROI over 30x considering current price.
BSCPAD is biggest and first ever decentralized IDO launchpad built on Binance smart chain. Platform offer multiple project developer and user to launch their BSC based project by helping them to raise capital or liquidity. BSCPAD follow tier-based allocation that gives entry to user to purchase token at early stage. Minimum investor needs to hold 1000 BSCPAD Tokens for confirm entry into new project pool. so, as surged in number of BSC based project then BSCPAD ecosystem will keeps on growing along with long term holder.
Binance Smart Chain is compatible EVM that means it support development of dApps and project with smart contract integration. BSC since its arrival gaining huge attention from developers and investor with possible reason high performance and scalability. BSC also support cross-chain support along with creation of pegged coin with multiple single blockchain network-based token. recently, BSC flipped Ethereum after passing record 1.56 million transaction record along with transaction volume 9.13 million. As per report BSCscan report pancakeswap contributing more than 2 million per day transactions. Cake token prices also skyrocketing with huge growth in market cap volume.