Baby Doge Chess

Baby Doge Coin is introducing gaming elements to its Decentralized Finance (DeFi) Baby Doge Swap ecosystem on BNB Chain. For its first game, the MemeFi project is going old-school, preparing to launch Baby Doge Chess.

The Baby Doge Twitter account had been teasing the game unveil for the past week, offering a $250 giveaway to a follower in conjunction with the announcement.

The new Baby Doge Chess game is in the final stages of development and testing. When it goes live, players will be able to compete against each other to win $BabyDoge.

Presumably, chess will be the first of multiple games launched on the Baby Doge platform, providing opportunities to increase user engagement and new utility for $BabyDoge.

‍

What is Baby Doge Swap:

Baby Doge Swap is the acclaimed “son” of the popular meme token, DOGE. Baby Doge Swap started out as Baby Doge Coin and is a hyper-deflationary system that progressively increases its scarcity and increases its liquidity. The project is now a fully Decentralized Exchange with swaps, liquidity pools, yield farming, and more. Baby Doge considers its primary utility as building a fun meme community to spread awareness of animal adoption.

‍

Where to find Baby Doge Swap:

Website | Twitter | Telegram | Reddit | Swap |

$SECT to Publicly Launch on March 31

The public token launch for Sector Finance token, $SECT, is set to begin at 17:00 UTC on March 29, 2023, and end at 17:00 UTC on March 31, 2023, on Arbitrum's native Camelot DEX.

The maximum supply will be 100 million $SECT, and 10% of that will be made available to the public. There is a minimum total commitment of $1.5 million USDC and a maximum commitment of $4 million USDC for the public launch of the token. 

However, Sector Finance would retain the tokens allocated for the launch if the total committed $USDC is less than 1.5M. In that case, deposited funds will be returned to all participants.

Participants who deposit early and own Camelot's native token, xGRAIL, will be able to join the whitelist launch 24 hours before the public offer begins. As reported, all participants will receive the same fair launch value ("FLV") set at the end of the launch period. For all, the final price would be set as follows:

• Max = 4M $USDC Commitment / 10M $SECT
• Min = 1.5M $USDC Commitment / 10M $SECT

Additionally, holders of $SECT can stake, lock, and receive vote-escrowed $SECT ("$veSECT"), which provides governance rights over protocol fees and emissions. There is a vesting period for one-third of the tokens where they would be staked in veTokens for three months. 

Sector Finance will publish specific instructions on participating in the public launch ahead of the launch event.

‍

Incentivized Vault Offering

Sector Finance will increase the Incentive Pool for the Incentivized Vault Offering ("IVO") from 1.0% to 2.0% in celebration of its public launch.

According to the protocol, early depositors will earn $veSECT and $bSECT from the Incentive Pool in addition to the real yield accrued in USDC/ETH. Early depositors will benefit both from short-term upsides and long-term value accruals. 

Participants can earn $bSECT and $veSECT from the Incentive Pool at the end of the Incentive Period when they deposit into either the Aggregator Yield Vaults or Single-Strategy Vaults.

You can learn more about the incentive vault offering here.

‍

What is Sector Finance?

Sector Finance is a product protocol designed to scale the DeFi ecosystem sustainably through diverse yields and unparalleled risk transparency. The protocol is developing risk management tools and investment products to assist the next generation of DeFi users. Sector will run on Arbitrum, and the strategies will work with a variety of ecosystems, including Ethereum Mainnet, Moonriver, and Optimism.

‍

Where to find Sector Finance:

Twitter | Discord | Medium

‍

Follow us on Twitter and Instagram to keep up with all the latest news for BNB Chain and crypto.

If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.

Want the latest DeFi secrets delivered directly to your inbox every week from a leading industry expert? Instantly learn about strategies that could have you earning APYs of up to 69,000% with DeFi Maximizer. Sign up today and enjoy a 25% discount off of your first month!

Looking for a job in crypto? Check out the CryptoJobsNow listings!

Uniswap, Compound, Olympus DAO, Aave

‍“Imitation is the sincerest form of flattery that mediocrity can pay to greatness.” – Oscar Wilde

Snarkiness aside, any good developer understands it’s far less efficient to build from scratch, than to identify existing good code and to adapt it to their purposes. The world of crypto is filled with Decentralized Finance (DeFi) protocols that are based on forks of predecessors.

Unsurprisingly, Ethereum protocols are the most popular models for other platforms to follow. In many cases, the Total Value Locked (TVL) of the offspring exceeds the parents!

Let’s check out the top 4 Ethereum protocols, in terms of the adoption of their forks, and then also look at one wild-card protocol: Uniswap, Compound, Olympus DAO, AAVE and Solidly.

(All data sourced from DefiLlama.)

‍

1. Uniswap

Name: Uniswap

Category: DEX

TVL: $3.78 billion

Most Popular Forks: PancakeSwap (BNB etc.), SushiSwap (ETH etc.), BiSwap (BNB), VVS Finance (Cronos), Quickswap DEX (Polygon), Camelot (Arbitrum), SpookySwap (Fantom)

Total TVL of Forks: $6.92 billion

‍

2. Compound Finance

Name: Compound Finance

Category: Lending

TVL: $2.67 billion

Most Popular Forks: Venus (BNB), Tectonic (Cronos), Benqui Lending (Avalanche), Sonne Finance (Optimism), Mare Finance (Kava)

Total TVL of Forks: $4.56 billion

‍

3. Olympus DAO

Name: Olympus DAO

Category: Reserve Currency

TVL: $253 million

Most Popular Forks: Wonderland (Avalanche, ETH), Klima DAO (Polygon)

Total TVL of Forks: $1.51 billion

‍

4. AAVE

Name: AAVE

Category: Lending

TVL: $8.53 billion

Most Popular Forks: UwU Lend (ETH), Geist Finance (Fantom), Radiant (Arbitrum)

Total TVL of Forks: $830 million

‍

The only DeFi protocol in the top 5 that was not originally on Ethereum is Solidly, which was launched by famed DeFi developer Andre Cronje on Fantom. Solidly’s TVL on Fantom experienced a meteoric rise and equally meteoric fall, but the protocol has spun off several massively popular protocols on other blockchains.

‍

Solidly

Name: Solidly

Category: DEX

TVL: $1.5 million

Most Popular Forks: Velodrome (Optimism), Solidly V2 (ETH), Thena (BNB), Ramses Exchange (Arbitrum), Equalizer Exchange (Fantom), Solid Lizard (Arbitrum), Equilibre (Kava)

Total TVL of Forks: $863 million

‍

What is Ethereum:

Ethereum is an open-source, distributed computing platform based on blockchain technology that can execute smart contracts - that is, the terms written in the contract will be executed transparently, automatically when the previous conditions are satisfied, and no one can interfere. At the same time, Ethereum also allows developers to build decentralized applications (DApps) and decentralized autonomous organizations (DAO).

‍

Find more about Ethereum here:

Website | Twitter | Documentation | Whitepaper | Reddit | Discord | Youtube | GitHub | Ethereum Foundation Blog |

The world’s first decentralized peer-to-peer orderbook exchange, CoinBook, is holding an Initial DEX Offering (IDO) for $BOOK token.

What is CoinBook?

CoinBook is the world’s first decentralized P2P protocol on the Core chain allowing traders to exchange tokens peer-to-peer without the need for a Centralized or Swap Exchange.

This innovative DEX is igniting the P2P movement of crypto with its unique smart contract technology that circumvents the need for a Centralized or Swap Exchange with many advantages such as:

• Guaranteed Privacy (No KYC)
• Lower fees compared to CEX
• No slippage
• No market price impact
• No front-running bots
• You can keep full custodian

What is $BOOK?

$BOOK is the native platform token of CoinBook which will begin its IDO sale on March 22, 2023 at 12 PM UTC. 

There are three major utilities of $BOOK:

Stake $BOOK, Build Your Portfolio

100% of the DEX transaction fees collected from trades will be donated to the holders who stake $BOOK in the Library Staking Pools. Users will be able to choose which Library pools to stake in to earn free tokens such as $BOW, $LFG, $AICORE, and much more!

Monthly Platform Rewards 

CoinBook will reward its users monthly in $BOOK. The trading volume a user generates each month will determine how many $BOOK rewards they will earn.

Marketplace Governance

To further decentralize the CoinBook platform, the holders of $BOOK will participate in governance voting on important platform decisions. The more $BOOK you hold, the more voting power you have on proposals.

$BOOK IDO Details

Private Sale (Whitelisted Wallets) will first participate in the sale on March 22, 2023, from 12:00 UTC until 14:00 UTC. All Season 1 airdrop participants with completed tasks are whitelisted.

Public Sale (All Wallets) will start participating on March 22 2023, from 14:00 UTC until 14:00 UTC the next day (March 23, 2023).

The $BOOK IDO will take place on CoinBook’s platform. You can find out more details about CoinBook and $BOOK token on the CoinBook Doc. 

Join CoinBook’s movement today and stay updated with the latest info! 

‍

Twitter | Telegram Community | Medium | Youtube

‍

Synthetix Made Record Trading Volume

Derivatives Liquidity Protocol, Synthetix hit $490 million in daily trading volume for the first time on March 17, according to Dune analytics. 

In terms of trading, the majority took place on the Kwenta trading platform, which accounted for $479.8 million in trading volume. In addition, the Synthetix generated more than $511,000 in fees on March 17.

‍

Worth noting that Synthetix will distribute over $8M of Optimism's governance tokens to its perpetual swaps users as rewards.

The reward system will reward traders based on the fees paid, the volume generated, and the amount staked in SNX, Synthetix's governance token. As reported, users who stake 2,500 or more SNX can further boost their rewards with a maximum bonus of 15%. 

The program will begin in the first week of April and run for 20 weeks.

In the first week, 50,000 OP tokens will be distributed, followed by 100,000 OP in weeks two and three. The remaining weeks of the program will see 200,000 OP per week.

The rewards will be issued from Synthetix's treasury, which received 9 million OP from the Optimism Foundation in July 2022.

Synthetix has also deployed version 3 (v3) on the Ethereum mainnet following security audits on February 23. 

According to its developers, Synthetix v3 offers developers better architecture for developing faster, more complex, and more efficient decentralized financial applications (DeFi). Additionally, V3 will provide simplified staking and differentiated debt pools, meaning network stakers can contribute collateral to specific asset pools and receive fees without being exposed to every Spartan Council-supported asset.

Synthetix currently has a Total Volume Locked (TVL) of $457.14 million, which includes $303.82 million in Ethereum and $153.32 million in Optimism. Synthetix is trading at $2.88, up 0.08 in 24 hours.  

‍

What is Synthetix:

Synthetix is a decentralised liquidity layer built on Ethereum and Optimism that acts as a backend for DeFi protocols. Stakers provide liquidity to collateralize a portfolio of synthetic assets in exchange for rewards and market yields. This liquidity is used to underwrite synthetic assets and perpetual futures trading at oracle prices, removing the need for traditional order books and counterparties. As a result, liquidity is commutable and fungible across markets, and traditional slippage is eliminated.

‍

Learn more about Synthetix:

Website | Twitter | Discord

‍

Follow us on Twitter and Instagram to keep up with all the latest news for BNB Chain and crypto.

If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News.

Want the latest DeFi secrets delivered directly to your inbox every week from a leading industry expert? Instantly learn about strategies that could have you earning APYs of up to 69,000% with DeFi Maximizer. Sign up today and enjoy a 25% discount off of your first month!

Looking for a job in crypto? Check out the CryptoJobsNow listings!