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Unlike most of my Dive Into DeFi articles, this one will include a little news.
To me, this has been a long-awaited event; one that I am particularly excited about. Before I explain my excitement (It goes beyond the incredibly convenient proposition of trading stocks with the instant settlement, 24 hours a day, 7 days a week), I will first cover the news.
Earlier this week, PancakeSwap announced mAsset trading and farms in collaboration with Mirror Protocol. This will allow users to trade synthetic Tesla, Amazon, Netflix, and Google shares. The farms will be paired with UST. For more details, the announcement can be found here. I suggest reading the announcement in its entirety to get all the details.
This is exciting. The news broke while we were having a BSC.News call, and I’m pretty sure I was mentally absent for the rest of the meeting. I couldn’t stop thinking about the possibilities that are likely on the way. We are finally seeing something real and tangible. Okay, it’s not real stock, but a synthetic version of the real thing, creating an entirely new marketplace that operates open and freely, around the clock. I believe that instant settlement of assets 24 hours per day will be an incredibly powerful driver to the expansion of DeFi.
The synthetic stocks being introduced by Mirror won’t be limited to UST LP pools on PancakeSwap. They are quite literally limited to nothing.
Want to lend Amazon stock to earn interest? I bet you’ll be able to do that.
Want to borrow Tesla stock against your Bitcoin collateral? Seems a bit degen, but it’ll probably be possible.
Trying to earn trading fees from LP stock positions and compound with ease? Well, that starts this week.
Will you be able to compound your synthetic stock positions in yield optimizers? I don’t see why not.
First, users will be able to farm Cake right out of the gate this week using stock/ust LP pairs. Just to say it out loud, again, we’ll be able to earn cake with Amazon liquidity. Tesla liquidity. Google liquidity. Netflix liquidity. This is the point of everything that has been built up to today.
I’m not sure I can put enough bold font in this week’s article to express the excitement I’m feeling from this DeFi innovation. I think what is being released will just be the beginning, and new opportunities and assets will become available quickly. I plan to watch the synthetic stock sector closely and take advantage of the new yield farming possibilities to come.
Cheers to Mirror Protocol and PancakeSwap for bringing more innovation to BSC.
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Meme coins are going through the roof right now and it seems as if almost everyone is in on the action. However, before FOMO takes over you, you need to know that not all meme coins are built the same. Many really are only about the hype, but some are here to stay - if not flourish - into the future.
Little Baby Doge is a meme coin that could last for a long time, given the fact that the project goes beyond the speculative mania that drives most cryptocurrencies. Apart from it being a meme coin, Little Baby Doge is also active in the fight against climate change (a global problem that needs immediate action now and in the future).
Little Baby Doge (LBD) is a hyper-deflationary cryptocurrency project with a revolutionary reward program guaranteed to offer anyone in the Dogecoin family a plethora of lucrative deals. Built on the Binance Smart Chain, Little Baby Doge will offer its holders free BNB through its token burn process. The fun doesn't stop at that; the LBD platform also comes with a lottery, a swap and farm platform, and an NFT marketplace. Not only does LBD work to empower the average Dogecoin fan, but it also fights for a noble cause which is to raise funds for protecting the environment.
According to LBD's road map, Little Baby Doge is just getting started. This stage of growth will involve partnering with social influencers to inch the project ahead and increase awareness. Plans are already set for CoinMarketCap and CoinGecko listings, not to mention promotional marketing campaigns to grow the number of holders past the 10,000 mark.
Given that all LBD holders will be able to earn up to 3% through instant auto-staking and rewards generated from daily transaction volumes, it is very possible for this coin to gain mass adoption within a short time.
LBD's strategic buyback approach is also a huge incentive in LBD’s capacity to retain value one year from now. Tokens are burned from every sale order thus discouraging whales from selling and encouraging holders to retain their diamond hands.
Add that to the noble cause of joining the fight against climate change with the partnership of influential climate change activists such as Greta Thunberg, and you have a meme coin ready for take-off to the moon.
To learn more about Little Baby Doge, visit the following links:
Binance has announced it will officially list Tranchess (CHESS) in its Innovation Zone. The move usually helps boost a protocol that has a unique and valuable approach.
Users can now trade CHESS/BNB, CHESS/BTC, CHESS/USDT, and CHESS/BUSD pairings once the listings were implemented on October 22nd. The Co-Founder of Tranchess, Danny Chong, took to Twitter to celebrate the momentous occassion.
“And Tranchess is listed! Thanks #Binance, #BSC, Investors and #Tranchess Community for the tremendous support. Our plans are for the long term and this is just the beginning,” said Chong. “More features are on the way. Work continued 24/7 for the team to finish up short term deliveries."
The move is a testament to the solid progress the team have been making, but they will be all too wary of how quickly this progress can vanish. Tranchess has maneuvered well across the DeFi gameboard, recently becoming the fourth protocol with on Binance to reach over a billion dollars in Total Volume Locked.
The team communicated that a DDoS attack had taken place on October 22nd but that they’d managed to quell initial fears through securing relevant funds.
“We're currently under a DDoS attack targeting our website service. You may experience intermittent web service. We are fixing this and adding preventative measures to prevent future disruption,” the team tweeted, before notifying followers that all funds were indeed fine. “All our smart contracts are on-chain and independent of this. All funds are safu.”
This came only days after communication explaining the project had been targeted through an attempt to trick its users by using Google Sponsored Ads. All of this considered, the team knows that with greater success comes greater risk of being targeted.
Both users and the team will be looking to make sure they keep growing uninhibited, and BSC News will be here to follow developments as they follow.
Tranchess is a yield enhancing asset tracker protocol with varied risk-return solutions. Tranchess explains its facets were first put together in early 2020 and it was developed quickly into its current state. Inspired by tranche funds’ ability to satisfy users’ varying risk appetites, Tranchess aims to provide a different risk/return matrix out of a single main fund that tracks a specific underlying asset (e.g. BTC).
Tranchess states its vision is to empower users of DeFi with asset allocation flexibilities. They hope to be a long term solution for long term holders of crypto assets.
Earlier this week, PancakeSwap announced mAsset trading and farms in collaboration with Mirror Protocol. This will allow users to trade synthetic Tesla, Amazon, Netflix, and Google shares.
Unlike most of my Dive Into DeFi articles, this one will include a little news.
To me, this has been a long-awaited event; one that I am particularly excited about. Before I explain my excitement (It goes beyond the incredibly convenient proposition of trading stocks with the instant settlement, 24 hours a day, 7 days a week), I will first cover the news.
Earlier this week, PancakeSwap announced mAsset trading and farms in collaboration with Mirror Protocol. This will allow users to trade synthetic Tesla, Amazon, Netflix, and Google shares. The farms will be paired with UST. For more details, the announcement can be found here. I suggest reading the announcement in its entirety to get all the details.
This is exciting. The news broke while we were having a BSC.News call, and I’m pretty sure I was mentally absent for the rest of the meeting. I couldn’t stop thinking about the possibilities that are likely on the way. We are finally seeing something real and tangible. Okay, it’s not real stock, but a synthetic version of the real thing, creating an entirely new marketplace that operates open and freely, around the clock. I believe that instant settlement of assets 24 hours per day will be an incredibly powerful driver to the expansion of DeFi.
The synthetic stocks being introduced by Mirror won’t be limited to UST LP pools on PancakeSwap. They are quite literally limited to nothing.
Want to lend Amazon stock to earn interest? I bet you’ll be able to do that.
Want to borrow Tesla stock against your Bitcoin collateral? Seems a bit degen, but it’ll probably be possible.
Trying to earn trading fees from LP stock positions and compound with ease? Well, that starts this week.
Will you be able to compound your synthetic stock positions in yield optimizers? I don’t see why not.
First, users will be able to farm Cake right out of the gate this week using stock/ust LP pairs. Just to say it out loud, again, we’ll be able to earn cake with Amazon liquidity. Tesla liquidity. Google liquidity. Netflix liquidity. This is the point of everything that has been built up to today.
I’m not sure I can put enough bold font in this week’s article to express the excitement I’m feeling from this DeFi innovation. I think what is being released will just be the beginning, and new opportunities and assets will become available quickly. I plan to watch the synthetic stock sector closely and take advantage of the new yield farming possibilities to come.
Cheers to Mirror Protocol and PancakeSwap for bringing more innovation to BSC.
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