Cryptocurrency News

Projects migrate to a new ecosystem


Have you ever tried energy drinks like “Burn”, “Red Bull” or “Monster”? Despite the fact that they don’t give you wings, they do help increase productivity when needed. Unfortunately, they also have adverse effects such as weight gain or increased sugar levels. For this reason, some prefer coffee, no wonder it is defined as a medicine. Now, imagine something similar to Caffeine or Taurine, but for a DeFi project and it would have no side effects. That would be a bomb!

Well, the good news is that this “booster” already exists, and it is named Binance Smart Chain. The question naturally arises that what makes BSC different? Long story short it provides a powerful ecosystem for decentralized finance projects, even those that were built on top of the Ethereum blockchain. Digging deeper, BSC boasts of the fastest blockchain transaction times and one of the lowest fee structures. It is no surprise that a growing number of DeFi app developers opt for a BSc.

We have to congratulate the team for making Binance Smart Chain compatible with the Ethereum Virtual Machine (EVM). Otherwise, projects will not be able to migrate their Ethereum dApps to Binance Smart Chain with minimal configuration and avoid the high transaction fees of ETH. Hopefully, the Ether 2.0 upgrade will cut costs and reduce power usage, but until then BSC will remain the best solution.

It is worth mentioning that until recently, DeFi projects were not so popular in Asia, but with the introduction of the DeFi ecosystem of Binance Smart Chain, everything changed. Thanks to lower fees, Asian DeFi is now receiving funding and projects, proving it holds a very promising future.

OK, big words! Well, if the mob wants a fight, the emperor will give them battles. Sure, the crypto community is tired of promises, so let’s take a look at the really big projects that have recently moved to the BSC protocol.

1. IDEX

Without a doubt, the first project on our list will be IDEX, one of the oldest decentralized exchanges in the space. Over the years, it has been a popular platform for merchants to purchase newly listed Ethereum projects using the MetaMask wallet. Troubles arose when the infamous gas fees began to rise. Well now something similar is happening with Uniswap as well.

although, IDEX Not satisfied with the fact that it is losing market share. For this reason, it decided to launch a multi-chain solution by expanding its infrastructure to BSc. The ultimate goal is obviously to attract new assets and reduce disposal costs. Additionally, the IDEX team plans to integrate with Polkadot and Algorand in the future.

2. 1 inch network

The second project on our list will be the 1-inch network. In a few words, it is an aggregator of decentralized exchanges that allows users to access liquidity from different exchanges and optimize trading strategies using smart contract technology. The platform allows crypto asset holders to sell, buy and swap their tokens on multiple platforms. The reason for moving to the BSC protocol is to increase scalability and reduce transaction fees.

3. Nimbus Defy

final project will be shine, a DAO-governed platform that provides you with 16 earning strategies based on clear revenue-generating processes: IPO participation, peer-to-peer lending, startup financing, and more. It is all based on smart contracts and enhanced by multiple layers of risk management.

according to his blog Posthandjob “The integration opens up many new opportunities for the community and enables cheaper and faster interactions with the Nimbus platform and token. Ultimately, it will also help the Nimbus token get listed on Binance and increase the growth of the Nimbus community in China. “ It is important that the team has a clear goal and a good attitude.

It is worth noting that the Nimbus platform already has 50,000 active users. By extending the BSC protocol, Nimbus users and liquidity providers will be able to interact with Nimbus functionalities without the need to deal with exorbitant gas charges. Additionally, it would allow growth in the Chinese market – which would, in turn, provide benefits to all Nimbus token holders.

Last but not least, the transition to the BSC network also means the launch of the BEP-20 standard token, NBU and GNBU. Their launch on the Ethereum network resulted in a 3X price increase in just a few days, so of course a lot can be expected from this new launch as well! The important date in this regard is June 9. Nimbus launches BEP20 token in its internal swap.

for those interested in Assignment or ProjectOf course, keep in mind that the Nimbus platform offers 16 earning strategies for users enhanced by multiple layers of risk management. Furthermore, it was one of the first DeFis in the crypto industry to provide access to IPOs.

Image by Robbi Drake from Pixabay



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Avinash is a blogger, Enterprenuer, marketer and author. He is very good affiliate marketer and Product Reviewer.
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