Binance Smart Chain (BSC) is a smart contract platform designed to give developers the ecosystem they need to build decentralized applications (DApps). BSC has experienced substantial growth over the past year and continues to attract a range of innovative projects. Below are some of its key accomplishments and characteristics:
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BSC aims to leverage low gas fees and fast transaction speeds to compete with Ethereum, the largest smart contract platform in the world.
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The network is built to complement the Binance Chain (BC), which already benefits from strong trading volume and deep liquidity.
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So far, BSC has drawn developers working on new and creative blockchain projects, many of which show significant potential.
If you are considering investing in tokens developed specifically on the Binance Smart Chain, the two options below are worth examining:
PancakeSwap (CAKE)
PancakeSwap (CAKE) is an automated market maker (AMM) DeFi protocol that allows crypto investors to instantly swap a wide range of assets. The platform also enables users to earn yield by providing liquidity and participating in yield farming. Since launching on BSC in 2020, PancakeSwap has grown rapidly.
Data source: TradingView.com
The platform offers fast execution, secure transactions, and low gas fees. At the time of publication, the native token CAKE was trading around $12.33. CAKE has a market capitalization of roughly $3.1 billion, ranking it among the top 55 cryptocurrencies by market cap.
Venus (XVS)
Venus (XVS) is a synthetic stablecoin and an algorithmic money market protocol built on BSC. The platform allows users to borrow and lend cryptocurrencies with relatively low fees.
The project also supports minting the stablecoin VAI. At the time of writing, the native token XVS was trading around $15.74, with a market capitalization of about $186 million.