BSC News

BSC Transforms into BNB Chain: Dawn of the MetaFi Universe

BNB Chain signals a new transformation for Binance, who are paving the path to the MetaFi Universe.

BNB Gives Rise to New Ecosystem

The token that has powered Binance Smart Chain Network’s meteoric rise as the most used blockchain in crypto, $BNB, will undergo a significant transformation.

The announcement was made official on February 15 via Binance’s new page, signalling a new dawn for the token. The team at Binance has recognised the relentless rise of BSC and the capabilities of $BNB to have a huge impact throughout the space. 

“From now on, BNB and its networks Binance Chain and Binance Smart Chain form the new BNB Chain ecosystem built around this outstanding utility token.” BSC Matthew explained via the exclusive news release. 

$BNB has already enjoyed different guises in all its thriving forms. After initially being issued in 2017 as an ERC-20 token on the Ethereum network, it migrated to Binance Chain and eventually proved the catalyst for the BSC Network enjoying the incredible success it has since September 2020.

The rise of $BNB is documented within the success and relentless scalability of the BSC Network. With hundreds of dApps using the token while operating on several exchanges, the token is held by millions of users to date. Registering a market cap of over $65 billion, there appears to be no end in sight for the success of the token. 

The team at Binance has recognized that the potential of BNB outweighs any one entity, meaning it will now have the opportunity for further freedom and innovation through BNB Chain. BSC’s mission to deliver infrastructure necessary for public adoption will remain a core tenant for the team. 

Already successful programs like MVB and its Incubation Program will continue to thrive under BNB Chain the team has explained, with community-driven events and workshops remaining paramount. An all new communal DeFi-oriented program will be announced on February 16 to underline BNB Chain’s commitment. 

Building the MetaFi Universe

The new year program already identified the path forward for Binance this year, and these technological goals were reiterated by the team for BNB Chain in the latest announcement.

  • Introduction of BSC Application Sidechains (BAS)
  • New BSC Partition Chains to offload the strain on BSC mainnet
  • Introducing on-chain governance mechanisms
  • Expanded validator set from 21 to 41 validators to provide more decentralization and boost scalability
  • and more...
“These advancements will enable BNB Chain to serve large-scale applications such as blockchain games, SocialFi, and the metaverse and improve the community's experience. It will also give birth to a new paradigm shift called MetaFi,” BSC Matthew stated. 

For further information regarding these exciting developments users are invited to join the BNB Chain live introduction stream at 16:00 UTC on BNB Chain’s YouTube.


What is MetaFi?

MetaFi is described as a concept that provides advanced and sophisticated DeFi infrastructure to all the different types of projects such as metaverse, GameFi, SocialFi, Web3, and NFTs and puts them under one umbrella – MetaFi. MetaFi is a future all-encompassing ecosystem that promises to deliver a paradigm shift that will enable seamless interoperability between different projects and blockchains.

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