Overview of the most excellent DApps currently available on BSC
Hi Readers👩💻 ,
The Binance Smart Chain has been growing and expanding its ecosystem throughout 2020. That is why we figured it would be a great idea to give you a little recap of the best DApps currently available on BSC.
But before we get started, for those of you who are unfamiliar with the Binance Smart Chain here’s a quick recap. Binance Smart Chain or simply BSC is a blockchain platform for developers that allows smart contracts. It runs parallel with the Binance Chain, which is optimized for fast transactions. Binance Smart Chain is compatible with apps that are coded initially for Ethereum. However, in this article, we’re only discussing DApps that have been created directly on the BSC.
For an in-depth article about the Binance Smart Chain, click here.
The Best DApps on BSC
PancakeSwap is an automated market maker (AMM) that allows two tokens to be exchanged on the Binance Smart Chain. And yes, it is one of the many food-themed DApps out there. The platform aims to become the number one liquidity provider on BSC and the home of new, innovative, gamified farming mechanics. They want to expand beyond the BSC to other chains in the long term.
Besides the exchange, the platform also offers a PancakeSwap Lottery, and you can earn $CAKE with yield farms, staking and Syrup pools. In the lottery, you win the jackpot (50% of the entire pool) by matching all four numbers of your tickets in the same position as the winning four numbers. If you match just two or more numbers in the right position, you also win a reward.
With over 4.6k users every month, this DeFi DApp built on the BSC aims to be the equivalent of UniSwap for the Binance Smart Chain. The DApp is created by JustLiquidity and has a trading volume of over 6 million USD. The main differences between UniSwap and JulSwap are that JulSwap claims to be faster, cheaper, and you can get your token bridge from ERC20 to BEP20 and use both chains.
Unlike many other DApps on the Binance Smart Chain, BLINK is not a DeFi DApp. Instead, it is a gaming platform. BLINK is created out of collaboration with Binance and WINK platform, and while it runs alongside the platform, it is a separate site with all betting in $BNB. The aim is to, over time, launch the wide range of games on the new BLINK platform, enabling BNB holders to enjoy all the games that WINK offers.
The DApp is purely for entertainment purposes, and you can use the platform to mine, gamble and play games. If you want to play on BLINK, you will need a MetaMask wallet, which enables you to sign transactions on the blockchain. More wallets are expected to be added in the future, but so far, the MetaMask wallet is the only one compatible with BLINK.
RocketGame is a design-driven game platform with DApp mode and a wallet mode and aims to provide an excellent experience and a way to pass the time. You can play multiple games on the platform, join contests, chat with other platform users, and earn rewards.
BurgerSwap is the first democratized DeFi platform on the Binance Smart Chain. It combines the trading of liquidity pro diving elements of the Uniswap Protocol with staking and decentralized governance, super low fees and speedy transactions. Through smart contracts, BurgerSwap enables a swapping mechanism with democratic, decentralized mechanics which allows listing, delisting and changing platform parameters by the community through voting.
Venus Money Market
Venus is a decentralized marketplace for lenders and borrowers with borderless stable coins. The Venus Protocol is also known as Venus, an algorithmic-based money market system designed to bring a complete decentralized finance-based lending and credit system onto BSC. The platform enables users to utilize their digital assets by supplying collateral to the network that can be borrowed by pledging over-collateralized digital assets.
What makes this money market different from other money market platforms and protocols is the ability to use the collateral supplied to the market to borrow other assets and mint synthetic stable coins with over-collateralized positions that protect the protocol. The synthetic stable coins aren’t backed by a basket of fiat assets but instead by digital assets.
Narwhalswap aims to expand the DeFi ecosystem on Binance Smart Chain, as the native chain of DeFi is becoming more and more congested, slower and more costly. Narwhalswap is an AMM protocol on the Binance Smart Chain focused on expanding DeFi on the chain. To do so, the platform has adopted a combination design concept to attract investors and developers.
DeFi (decentralized finance) has introduced novel solutions in lending, exchanges, derivatives, payments, marketing creation and asset tokenization. CREAM is permissionless and open and aims to push the boundaries of this new financial system to include as many users and assets as safely possible.
Jetfuel is focussed on yield farming and aggregator platform that combines features from the most successful DeFi projects such as Compound and Harvest on the Binance Smart Chain (BSC).
Battle Pets is a blockchain game about pets running on Binance Smart Chain. Each pet is an NFT(Non-fungible Token) which can be collected, nourished, and armed with weapons to battle with other pets.
The Binance Smart Chain is a relatively new, ever-changing and ever-growing ecosystem. There are already many exciting and innovative DApps launched on it, and we’re excited to see who else will build on the blockchain.
What’s your favourite DApp on BSC? Let us know in the comments.
DISCLAIMER: This is not financial advice. Staking, delegation, and cryptocurrencies involve a high degree of risk, and there is always the possibility of loss, including the loss of all staked digital assets. Additionally, delegators are at risk of slashing in case of security or liveness faults on some protocols. We advise you to do your due diligence before choosing a validator.