Crypto
BSC Projects
February 23, 2021

BSC Projects

This is a list of projects that I have discovered and used on BSC. Please note that I am by no means endorsing these projects and most of these small exchanges I have only put like $50 worth of crypto into them. But I will try to do a little compiling of PROs and CONs of what I like of the website over time and add to the list.

 

Disclaimer: I am not a financial advisor. The information on this site is for informational purposes and isn’t financial advice. I cannot guarantee that you will have the same results as I have nor can I guarantee that the information shared here is appropriate for you. My opinions are my own despite any referral links that may be within the blog. I am not also not a tax consultant or a CPA.

Pancakeswap

First and foremost, Pancakeswap. The leading DEX within BSC. Pancakeswap forked off of Sushiswap and has made a few changes.

    1. Pancakeswap does a thing called Initial Farm Offerings. Which basically has a token pay to promote their token on Pancakeswap by offering high interest yields for adding liquidity and joining the farms (or pools). The most recent listing was $BRY which saw an explosive x6+ price action within 3 days while offering 300% interest rate on top of it.
    2. Pancakeswap offers Lottery tickets. While personally I don’t like to gamble, crypto purchases aside, many people like to try their odds on winning big. Basically users can guess 4 numbers (numbers 1-14) and if you guess 2, 3 or all 4 pairings then you win a lot of money. I read that someone recently has won upwards of $1,000,000 USD equivalent. The nice thing about the lottery, is it has a burning mechanic built in so it can help keep the supply under control.
    3. There is a profile NFT/team you can join. I signed up today and paid my .5 CAKE (about $9 worth) in order to choose my avatar and join the Chaotic Cakers to see what the fuss was about. As of now, it is a feature that they plan on developing more in the future but this will be an interesting feature later on if they can burn more of the supply on a regular basis.

Links:

pancakeswap.finance

https://www.coingecko.com/en/coins/pancakeswap

Beefi.Finance

Beefy.finance is probably the leading yield farming optimizer on BSC. I have used this very extensively for the past week. Beefy is forked off of YFI (from ethereum). The way the farms work in Pancakeswap is that they pay you in CAKE tokens (for the most part) but you have to pay gas to withdraw it. While this isn’t as bad as Ethereum (paying $30-$90 to withdraw your rewards), you still can’t pull out your money regularly on smaller investments if they don’t earn enough interest. The advantage to Beefy is, you give them your liquidity pool tokens, I assume they group all the tokens into 1 big pool, and then they harvest all the rewards at the same time in order to reduce gas prices and proportionally redistribute the rewards to each account. This causes some very high yield farming. For example, if you are in the CAKE pool you are earning ~200% APR but that’s not compounding regularly. Beefy will pull the rewards several times a day and restake the new supply so you are earning interest on your gains as well. This will turn the 200% APR into as high as 600%! For projects that require liquidity, let’s say Ethereum/Binance pairing, Beefy will sell your CAKE and buy equal parts of ETH/BNB and add to your liquidity pool so you are actually acquiring more ETH/BNB which helps reduce your AMM IL problem! And hopefully you’ll be earning extra tokens to boot!

Websites:

https://beefy.finance/

https://www.coingecko.com/en/coins/beefy-finance

Jetfuel

Jetfuel on some projects offers even higher yields than Beefy. Not all, but some. The BNB/ETH pairing has a staggering 400% APR which is extremely high for a top market cap tokens. For the cake/BNB pairing, they offer as high as 1,200% APR which is pretty nutty for cake lovers.

Websites:

https://jetfuel.finance/vaults

https://www.coingecko.com/en/coins/fuel-token

The Smokehouse

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Websites:

https://thesmokehouse.finance/

https://www.coingecko.com/en/coins/the-smokehouse-finance

Kiwiswap

Websites:

https://kiwiswap.finance/

Nyanswop

I am a little bit hesitant about this exchange. At first, being so similar to Uniswap, I felt like this was a very solid project but… They had 3 tokens and basically one of them rugpulled of sorts. Someone exploited the code and printed their stable coin into oblivion and basically stole a lot of money. They are doing a promotion right now to try to recover this project but time will tell.

Websites:

https://nyanswop.org/#/exchange

https://www.coingecko.com/en/coins/nyanswop-token

Matthew
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