What DeFi Projects to Invest in for 2021 on Binance Smart Chain

These three Binance Smart Chain projects are providing excellent value for investors.

By
Kyle Heise
on
June 22, 2021
Category:
BSC News

A Guide on DeFi Investments

With the explosion of Non-Fungible Tokens (NFTs) and crypto in early 2021, plus an assortment of rug-pulls and attacks to different cryptos, it is imperative to educate yourself continually. Overall, the DeFi space is expanding rapidly on both Ethereum and Binance Smart Chain (BSC). Ethereum is looking more and more like a chain with higher fees than other chains. And one way to avoid fees is to jump onto BSC.  BSC is the fastest-growing blockchain and is home to an entire ecosystem of DeFi projects. 

Below we have provided details on the three largest projects of the top growing project DeFi for 2021, on BSC.  What are the best DeFi projects to watch out for in 2021?


PancakeSwap - Delicious Yields in an Appealing Aesthetic

PancakeSwap is a decentralized exchange built for Binance Smart Chain (BSC). Since its inception in late 2020, PancakeSwap has been the most used Automated Market Maker (AMM) and farming project on BSC. PancakeSwap is attractive because it has lower trading fees than other top decentralized exchanges like Ethereum. The platform is cheap, accessible, and a ton of fun thanks to their cute bunny mascots and lotto-style rewards.

PancakeSwap has its own native BEP-20 token, CAKE. Users can stake CAKE or spread it across Syrup Pools. Syrup Pools are where liquidity providers supply tokens to boost projects and earn rewards. PancakeSwap currently integrates several popular wallet ledgers like MetaMask, Binance Wallet, TrustWallet, among others. PancakeSwap offers fun rewards like a lottery session that occurs every six hours.

The protocol has been on a tear, climbing the ranks in the past months. The protocol is now the third biggest DeFi protocol, according to dAppRadar. The platform has a total volume locked (TVL) of over $7Billion and a market capitalization of $2Billion. The 24hr trading volume for PancakeSwap was over $100Million, according to CoinMarketCap. The CAKE token currently exchanges for around $12-$15.

Website | Twitter | Medium | Telegram | Discord |

Alpaca Finance - Leveraged Yield Farming

Alpaca Finance touts itself as the biggest lending protocol that allows leveraged yield farming on BSC. They pride themselves on being a community-focused project, which began as a fair-launch project with no pre-sale, no investor, and no pre-mine. They also provide some of DeFi highest APYs.

Alpaca users usually take on one of four roles: lender, yield farmer, bounty hunter, and liquidator. Each requires a unique set of skills necessary to keep Alpaca a leading protocol and flourishing community. 

One of the keys to Alpaca is its on-chain leverage protocol which blows regular APYs out of the water. This leverage yield farming allows users to increase gains higher and faster. Alpaca recently partnered with another growing DEX, Wault Finance. Wault Finance has had incredible growth since its inception on Alpaca, and their partnership is seeing APYs hit the millions.

The ALPACA token currently trades at $0.768. The protocol has a TVL of over $1 Billion. It is currently 19th overall on dAppRadar’s DeFi rankings and is in the top 5 on BSC. The impressive growth from Alpaca Finance in just a few short months shows it is a force that is here to stay.

Check out Alpaca!

Website | Twitter | Medium | GitHub | Discord |


AutoFarm - Leading Yield Optimization

The AutoFarm Network is similarly attractive to our first two projects. Like Alpaca Farm, it began on BSC with no pre-farm and no pre-sales. Trades on the platform are also non-front-runnable and non-arbitrageable. The team at AutoFarm has built a yield optimizer that seeks the best yield farming options possible at the lowest possible cost. The goal of AutoFarm DEX is to find the best prices across all of DeFi. This grand goal appears effective and ambitious. AutoFarm relies on the AUTO token to serve the role that CAKE and ALPACA fulfill on their respective platforms.

AutoFarm has a total of 232 vaults to make deposits and earn rewards. The majority of the vaults, totaling 196, are linked on BSC. Each vault employs different mechanisms to optimize the auto-compounding strategy. Most of the vaults are hitting the hundreds or thousands in APYs. Those numbers should increase as more volume comes to the AutoFarm protocol. The protocol is now multi-chain and runs on Binance Smart Chain (BSC), Polygon Chain (MATIC), and Huobi ECO chain (HECO). 

The team is very security-conscious and recently had their smart contract logic audited by CeriK. The AUTO token currently trades at $1,289.31. AutoFarm currently has just under $1Billion in TVL, $930.74M. It facilitated over $2million in transactions in the last 24hrs, according to CoinMarketCap

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Kyle Heise

Born and raised in the East Bay of California. He has studied and worked on three continents and lived in eight countries. Kyle resides in San Francisco. Go Giants!

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