Dive Into DeFi: What Are My Top 3 Binance Smart Chain Picks for August?

The following picks have varying degrees of risk, and I urge you to do your own research and invest according to your risk preferences.  Prices were noted at the time of writing. 

ETH/BNB LP ($2547/$335)

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Ethereum and Binance Smart Chain have emerged as the Decentralized Finance (DeFi) leaders in 2021. I don’t see why this would change, and I want in on the growth of both ecosystems. An easy way to accomplish this is through holding both cryptocurrencies together in a liquidity position. Pancakeswap currently offers an ETH/BNB yield farm with a 13.69% Annual Percentage Yield (APY). This return is more than enough to give my bullish pair a nice income boost while I hold and wait for the market to make its move. 

Growth DeFi (Wheat) ($2.50)

‍Growth DeFi is a lesser-known protocol on Binance Smart Chain ecosystem with a modest 5 million dollars of Total Volume Locked (TVL). Wheat specifically has a market cap of just under a million. I was really sold on this project after I had an in-depth conversation with the head developer of Growth DeFi on the BSC News Podcast on July 31. The team is working hard to implement novel concepts to support the wheat price over the long term and is developing an ecosystem that provides a lot of excitement.  

Wheat/BNB liquidity can be provided on ApeSwap and staked in the Growth DeFi vault for a juicy 167% APY, when writing this article. I will note that this position certainly carries risks due to the age of the platform, but I am looking forward to watching the team continue to build out its roadmap and ecosystem. 

WallStreetBets DApp (WSB) ($0.0209)

As an avid Mirror Finance user on the Terra Blockchain, tokenized stocks get me excited. The WallStreetBets DApp is working closely with Mirror to bring tokenized stocks multi-chain, and that’s a concept I can’t help but get behind. They are nearing the release of an Ethereum application, and the timing is perfect with Uniswap’s recent delisting of Mirror Assets. I think WSB captures both the utility of tokenized stocks and the momentum of the Wall Street Bets movement with the perfect combination.

This play is a bit of an aggressive position, and the risks should certainly be considered. WSB token can currently be staked for an APR of 11.78% or paired with BNB in liquidity for 51%. 

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