Closing the week with an explosive series of events of the "everyone knows who" ecosystem - BNB Chain. Let's take a look back at the most prominent events of the BNB Chain ecosystem in recent times through this BNB Chain report.
Overview of the BNB Chain ecosystem recently
Important updates
It can be seen that, since the unexpected rebrands last month, BNB Chain is experiencing positive changes, new development visions with new directions, new projects and investment deals are gradually being established. deployed, bringing a new wave to the ecosystem after a period of being immersed in the gloom of the market.
Last March was an important month when a series of events that created a historic milestone for the next development of BNB Chain took place, bringing a lot of positive news to the community. Let's go into the details of the stream of events.
Learn more about the new vision and direction of BNB Chain: What is BNB Chain? Reviving Binance Smart Chain with MetaFi Vision
New projects
ApeCoin (APE) : This is a project built by the fan community of Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) - 2 of the famous NFT collections on the Ethereum ecosystem .
Biswap (BSW) : Is a decentralized exchange (DEX) created specifically for BEP-20 tokens on BNB Chain and has the distinct advantage of almost zero transaction fees.
Analyzing each puzzle piece on BNB Chain
Binance Receives Crypto-Assets License From Dubai, Bahrain
It can be said that this is one of the most remarkable events in the chain of events of recent times.
On March 15, 2022, Binance announced that it had received a license to become a crypto-asset service provider from the Central Bank of Bahrain (CBB).
It shows that Binance has completely met the strict criteria from CBB and obtained its first license as a crypto-asset service provider in The Cooperation Council for the Arab States of the Gulf (GCC). cooperation contract of the Arab Gulf States.
PancakeSwap Mini version is officially launched on Binance
March 18, 2022 has brought an extremely important mark to the fan community of PancakeSwap in particular and the crypto community in general, this will be the first DeFi model project to be launched on the mobile platform of PancakeSwap. Binance.
PancakeSwap's native token, CAKE , had a massive 27% spike in the 24 hours right after the announcement was made. Continuing to evolve with the goal of bringing more convenience to users, this direction of Binance is developed with the aim of reducing barriers to the world of DeFi, bringing access to PancakeSwap in a simple way. more convenient and easier than ever.
This is very good news for CAKE holders and CAKE LPs, after a very long time of silence, now they have recovered, along with the recent major changes of BNB Chain, Pancakeswap has regained its previous traction.
BSW token listed on Binance
Biswap is known as a decentralized exchange (DEX) created specifically for BEP-20 tokens on BNB Chain, bringing with it advantages such as extremely low swap fees, or profitable liquidity,...
The announcement of Biswap's BSW token being listed on Binance's exchange was announced on March 21, 2022, this event will bring more great benefits to users, typically including the add liquidity to pools and collect LP tokens, users can deposit, lock and stake LP tokens to receive rewards.
BSW token has become one of the trending tokens in this period, with outstanding features and advantages when using Biswap exchange, BSW token is expected to become more and more valuable and hot in the future. upcoming time.
In addition, Biswap has also become a part of the big Revelation Hackathon organized by BNB Chain and DoraHacks as a Gold Sponsor.
BNB Chain Growth Fund Invests in PearDAO
The BNB Chain Growth Fund posted an announcement on the acquisition of shares of PearDAO (PEX) on March 24, 2022. This strategic investment of BNB Chain will help PearDAO expand its business to more regions and audiences.
PearDAO is a decentralized marketplace, aiming to complement DEXs and CEXs by enabling value exchange for on-chain, off-chain and cross-chain ecosystems together. a time.
Vietnam Blockchain Expoverse
Vietnam Blockchain Expoverse is part of the Binance Blockchain Week event - the largest event of the year and is held in Dubai, the event will start on March 27, 2022.
Vietnam Blockchain Expoverse is organized by Binance Vietnam and BNB Chain, with the presence of experts from Binance, investment fund DFG group and other representative experts. The event revolves around the concept of “from idea to impact” and aims to promote the benefits of blockchain technology so that great progress can be made to the Vietnamese economy. Male.
This is clearly a big step forward for the Vietnamese market when being able to introduce to the world community, many big names from Vietnam have participated in this event such as: Thetan Arena, Kadia Chain, .. .
Big event Binance Blockchain Week is divided into 9 different small events including:
- Accelerating Blockchain Ecosystem in Vietnam.
- BNB Chain: from Day 0 to Present.
- Introduction to DeFi.
- Introduction to GameFi.
- Introduction to Metaverse.
- Introduction to Web3.
- Q&A with BNB Chain MVB Winners.
- Investment trends in crypto and blockchain.
- Made-in-Vietnam Showcase (Pitching) - 12 Invited-only BNB Chain projects, mixed of Defi, GameFi, and NFT.
Projections for BNB Chain
In general, it can be seen that the BNB Chain ecosystem in the recent period is having strong changes, especially since the ecosystem changed its name from Binance Chain and Binance Smart Chain to BNB Chain. It feels like this is a very “feng shui” innovation for BNB Chain.
From a personal perspective, I think many of you will have thoughts about the ecosystem being gradually saturated and no longer as attractive as before. But we also cannot deny the efforts to transform, not stand still and the ecosystem still tries to create new historical imprints or milestones. Since the beginning of 2022 until now, BNB Chain has continuously launched quality projects, or even events that have become hot topics for a long time.
The core projects are still developing very well and standing quite firmly in the market even though the GameFi platform is showing signs of going backwards. But top projects like PancakeSwap, Venus or more recently, Tranchess and Biswap have continuously appeared on BNB Chain's top 10 outstanding projects, bringing many benefits to users.
It is possible that if the project you invest in has a good foundation, you will not have to worry too much about the waves of the market. Even if the BNB Chain ecosystem is saturated, the money flow shows no sign of leaving. The decline of TVL can be seen as a result of the price of some tokens in the system being reduced in value affected by the general market or the rejection of poor quality projects and short-term speculators. .
Disclaimer: All information in this article is for informational purposes only and should not be considered investment advice.
summary
I will summarize a few bright spots in the BNB Chain ecosystem recently:
- Binance received a license to provide Crypto-Assets services from Dubai, Bahrain. This shows that the worldwide scope of BNB Chain is getting bigger and bigger and asserting its position.
- PancakeSwap's Mini program launched on Binance helps PancakeSwap regain previous traction.
- The listed BSW token brings many benefits to users, and has also recorded an important mark on the project's journey.
- Diversify the ecosystem more with PearDAO.
- Promote the benefits of blockchain technology to be able to make great progress on Vietnam's economy.
