BSC Farmer Weekly Newsletter #2
DeFi Recap
This week BSC DeFi’s total value locked(TVL) hit an all-time high of $13.8 billion, Among them, Pancakeswap ($4.26 billion) and Venus ($4.03 billion) ranked first and second. Alpaca Finance’s $1.42 billion ranked third and Autofarm’s $1.45 billion is fourth on the list.
Highlight of this week
BSCProject released the BSC ecosystem map. After reading it, CZ said that the BSC had too much projects, so he needed to get new glasses.
Click to see the big picture
According to the latest data, the number of BSC ecosystem projects has reached 310! And several large Ethereum DeFi projects have released BSC versions, including the famous 1inch and Sushiswap.
Farm of the Week
Belt.Fi is the most high-profile BSC DeFi farming project this week, with a TVL of more than US $600 million, and is expected to become ‘Curve’ on BSC, providing a low-slippage stable coin exchange service.
It already supports exchange between DAI, USDC, USDT, BUSD. At present, the APR of WBNB-BELT pool is 1,905%, and for safer choice stablecoin pool the APR is 122%.
For farming, you can use any of DAI, USDC, USDT or BUSD tokens to participate. The specific steps are as follows:
1. Visit https://beta.belt.fi and connect to the wallet
2. Complete contract authorization, which may need to be performed multiple times because each token needs to be authorized.
3. Modify the amount (all stablecoin balances will be added automatically by default) and click Add Liquidity.
4. Finish VENUS BLP authorization
5. Click+ ，stake BLP
6.You can then receive the BELT token reward on the right side
SOOHO did Belt smart contract security audit , see：https://docs.belt.fi/security-and-risks
Reminder: Do your research before any investment, farm responsibly, and never farm with money you can’t afford to lose.
Conservative Farmer
If you want to choose a more conservative farming method, Pancake Swap USDT-BUSD pool is a safer farming choice.
Firstly, the long-term value of Cake is very good, therefore its APR is always above 20%. Secondly, because it is the stable coin LP, the impermanence loss is very small. Finally, as a Pancake primary LP pool, you can receive all kinds of airdrops, for example, last week ZKSWAP airdropped tokens worth over $150 to all participants in this pool.
Its farming steps are as follows:
1. visit https://exchange.pancakeswap.finance/ and connect wallet
2. Enter the Liquidity Menu
3. Choose BUSD/USDT pool, and add liquidity
4. Click Farms menu
5. Search USDT and find USDT-BUSD pool, click + ，finish LP staking
6. Then receive CAKE rewards
Reminder: Do your research before any investment, farm responsibly, and never farm with money you can’t afford to lose.
DeFi Governance
Alpaca launched the Stronk vault, with a bonus of 7,870,000 Alpaca through sALPACA and 1:1 withdrawal after 4 months, during this period user can also trade sALPACA-ALPACA in Pancakeswap.
https://medium.com/alpaca-finance/introducing-alpaca-stronk-vault-2f7ee09eebf3
More governance announcements are welcome to forward to us at: bscproject@protonmail.com
Plow of the Week
We recommend a very useful tool for farmer: https://vfat.tools/bsc/
It is used to be yieldfarming.info.
It could automatically connect with wallet ，calculate DeFi farming pool APR on-time data and your income status.
Conclusion
Whether it’s the new ATH of BSC TVL, the cross-chain deployment of the Ethereum DEFI project, or the various interesting farming activities that are on-going, it all indicated well for the rise of a more prosperous and participating BSC DeFi ecosystem.
For more BSC projects, please visit: https://bscproject.org
Happy farming!
