All-in-one DeFi platform DeFiPie Launches on Binance Smart Chain with an Ethereum Bridge

DeFiPie proposes to combine crypto lending, staking, liquidity pools, yield farming, and P2P loans within the same dApp. With the launch of Binance Smart Chain, DeFiPie is making crypto loans much faster and cheaper.

By
BSCNews
on
March 16, 2021
Category:
Project Insight

Introduction

The DeFiPie lending and staking app has already gained a lot of fans on Ethereum thanks to its exceptionally flexible lending functionality. Its PIE token has gained over 300% in the past month. With the launch of Binance Smart Chain, DeFiPie is making crypto loans much faster and cheaper. Thanks to an Ethereum bridge it will be possible to easily swap assets between the two chains.

About DeFiPie

DeFiPie is the first DeFi app that proposes to combine crypto lending, staking, liquidity pools, yield farming, and P2P loans within the same dApp. Its key advantage over Compound and similar lending apps is that it allows users to deposit any ERC20 asset as collateral when taking out a loan. Users can also add any ERC20 token as a lending asset. DeFiPie has recently launched a lucrative liquidity mining program.


DeFiPie is Live on Binance Smart Chain Mainnet

With Ethereum gas fees exceeding $10 per transaction, many DeFi users are switching to Binance Smart Chain (BSC). The BSC has a high processing capacity, extra-low fees, and full support for smart contracts. It is arguably a much better fit for decentralized finance. Thus, while DeFiPie is already successfully operating on Ethereum, a parallel launch on BSC was a logical step.

DeFiPie on Binance Smart Chain will offer the same innovative features that its fans are used to on Ethereum:

- Adding any BEP20 token as a lending asset;

- Collateral in any BEP20 assets;

- Intelligent liquidation prevention algorithm.

Moreover, the team of DeFiPie has added an Ethereum bridge for quick asset transfers between the Ethereum and Binance Smart Chain blockchains. All those users who already have funds staked on the Ethereum-based version of DeFiPie will be able to swap them for analogous BSC assets and continue staking, earning, and lending as before – only faster and with much lower fees.


PIE listed on PancakeSwap

PancakeSwap is the most popular token-swapping platform based on Binance Smart Chain. IIts trading volumes have repeatedly exceeded those of Uniswap – a clear sign of the rising popularity of BSC as a DeFi platform.

PIE is already listed on PancakeSwap with initial liquidity of $50,000. Users who participate in the PIE pool as liquidity providers will earn a share in the trading fees. Soon, DeFiPie will launch a liquidity mining program for BSC stakers. It will also become possible to use PancakeSwap liquidity provider tokens (LPs) as collateral for loans.

DeFiPie app on Binance Smart Chain is available here. For more information about this all-in-one DeFi project, visit the official website, Twitter and telegram.

Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

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