.png)
.png)
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.
BakerySwap's official Merch shop is now live with many exciting collections available and more to be added in the future.
The Merch store — Baked Merch, displays BakerySwap’s new collection of apparel, accessories, with many other offerings to come.
“Stay tuned for new Featured additions! $BAKE it!” the protocol encouraged on their Twitter on July 27th.
The digital store comes with a plethora of unique displays and collections to keep users engaged. Along with the numerous collections, the website is user-friendly and easy to navigate. BakerySwap was the first Non-Fungible Token (NFT) exchange on Binance Smart Chain (BSC). Based on their popularity the merch shop comes at the right time for the platform to capitalize on a growing user base.
The new Baked Merch offers users a wide range of unique products and features. The digital store is powered by Spring, which is a simple solution for creating and selling products.
Currently, the Merch store has products based on three categories: apparel, accessories, and drinkware. More products will be added soon according to the BakerySwap team.
With just one click on each of the categories on the top right corner of the store’s page, users can see the different products available. Under the apparel category, Unisex/Men’s T-shirts, Women’s T-shirts, and hoodies & sweatshirts are up for sale. For accessories, phone cases are available, while drinkware features stylized water bottles.
The store is just a few days old but there is promise for its longevity considering its parent platform. Users can also find designs from featured artists like Irene Cerezo on the merch shop.
It also comes with a search feature that allows users to look up anything they want to buy and add it to their cart for delivery. Payment is straightforward, either by card or via PayPal.
.jpg)
Binance Smart Chain (BSC) has selected the top 10 winners in their second Most Valuable Builder: The Big Bang of NFTs.
The winners were announced on July 29th and were detailed in BSC Matthew’s Binance Chain blog post. The competition started in late April and whittled down the Most Valuable Builder’s from over 500 projects.
“The MVBII was subtitled The Big Bang of NFTs to show that we will focus primarily on NFT+DeFi development in the second round,” explained BSC Matthew in the blog.
In the past few weeks here at BSC.News we’ve been lauding the incredible advances made by NFT Gaming projects. Judging by the winners we were right to do so.
The projects show no sign of decline, as at the time of writing they currently account for more than half of the entire daily transaction volume. We can put this in context when we understand that the BSC Network currently processes 800% more transactions than Ethereum. Incredible!
It is impossible to overstate the energizing effect of MVB II on the BSC ecosystem. The shortlisted projects achieved a total of more than 500,000 active addresses with $16Bn in transacted volume from May to July 2021, during the competition itself.
Aside from the immediate injection of interest the competition provides, there is a substantial $10,000 grant. An opportunity to strengthen security via Certik through a sponsorship. And arguably the most important, a priceless opportunity for an exclusive incubation workshop with industry experts.
There is also added potential for a direct listing in the Binance Innovation Zone and the incredible investment opportunities that come with that.
The Big Bang of NFTs focused primarily on the development of NFT+DeFi.
The initial phase began on May 1st, and oversaw over 400 applications from all over the world. Each project was given ample attention and put through a scrutinising process that carefully observed performance. A top 20 projects would be identified based on a strict criteria:
Product innovation: What does the project propose that is unique? Is this project competitive, and does it provide new features and products?
Security: Each project must have at least one completed team security certification or audit from independent BSC ecosystem partners.
Community & users: This includes the number of active users in the community, chain address activity, and regular users.
Transaction volume: Here, we looked at the transaction volume over different periods.
(The criteria is taken as specifically defined by the brilliant team at Binance)
The second phase saw the top 20 undergo even more scrutinous standards, as the projects are expected to be the most demanded applications in NFT+DeFi, dApps or Infrastructure in the BSC Ecosystem. Popularity is a must.
Security is then investigated as despite the huge number of Daily Active Users (DAU, Total Volume Locked (TVL), and Liquidity, projects are expected to hold up in terms of offering protection.
Finally, communication was understood as a key aspect. It was important to garner community strength via different media channels, including but not limited to Twitter, Telegram, Discord and Medium. Often underplayed, this communicative aspect is what binds these projects together, and the second phase of the competition accounted for that.
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.
