BSC Farmer Weekly Newsletter #5

DeFi Recap

This week BSC DeFi’s total value locked(TVL) continued to raise and it hit an all-time high of $21 billion.

Among them, Venus (7.21 billion) surpassed Pancake (5.92 billion) and ranked first and second. Ellipsis has $2.15 billion TVL, Belt Finance’s $1.77 Billion, and Autofarm’s $1.47 billion.

The tokens with the most growth rate in BSC ecosystem this week were ARGON(Argon) 242.81%, BELT(Belt Finance) 104.86%,EPS (Ellipsis) 94.74%, BUNNY(Pancake Bunny) 79.12%,XVS(Venus) 73.61%.

Highlight of this week

  1. BSC ecosystem continues expanding rapidly, with the number of projects reaching 400! The TVL ratio of BSC/ETH was nearly 50%, and the active address ratio of BSC/ETH was as high as 87.7%

2. The total amount of BNB Staking is over 7 million, and the number of verifiers is over 10,000. In March, the growth rate is 91%.

Farm of the Week

FinNexus
https://options.finnexus.io/#

FinNexus is a decentralized option trading platform on BSC. Currently, the main functions are as follows:

  1. Buy 1-30 day call/put options on BTC/ETH

The option product can be purchased by setting option type, option number, exercise price, payment currency (BUSD/USDT_BEP20), authorizing signature and currency.

2. Farming
a. Liquidity Farming
Provide liquidity of FPT-BUSD/USDT, participate in farming
b. Single-token farming:
Currently it supports depositing FNX/BUSD LP token, USDT/BTR LP token, MATH, HARD, CAKE, AUTO, XVS, TPT, BURGER into Pancake to participate in cFNX farming.

Take MATH as example, we will introduce single-token farming in details:

First buy MATH in Pancake
1. Visit FinNexus page: https://options.finnexus.io/#
2. Click top left to switch to the BSC network and connect to your BSC wallet
3. Click CO-FARM, find MATH pool
4. Click deposit, put MATH amount, sign the transaction of MATH and start farming CFNX

5. After claiming the farmed CFNX, click Assets at the bottom page to convert it into FinNexus token FNX. Currently converted FNX tokens need to be locked up for six months and gradually released into wallets.

Reminder: Do your research before any investment, farm responsibly, and never farm with money you can’t afford to lose.

Conservative Farmer

Bakery ETH2.0 Staking token farming:
https://www.bakeryswap.org/

ETH 2.0 Staking token is ready for liquid farming in Bakery, and the user can do so by staking the associated LP token of ETH2.0 Staking token BETH in Bakery, APR is currently up to 46.57%.

Take BETH-BNB BLP as example, farming steps are:

First prepare BETH(could swap in Bakery) and BNB, provide BETH-BNB liquidity in Bakery, receive BETH-BNB BLP liquidity token.

  1. Open https://www.bakeryswap.org/#/eth2
  2. Open your BSC wallet
  3. Click ETH2.0 to enter farming page
  4. Choose BETH-BNB farming pool, deposit BETH-BNB BLP, sign the transaction, start farming to earn double return of BETH and BAKE.
    The current APR data is: a consolidated annualized return of 22.4%.

Reminder: Do your research before any investment, farm responsibly, and never farm with money you can’t afford to lose.

Plow of the Week

OpenOcean
https://openocean.finance/

OpenOcean is a decentralized aggregated trading protocol that helps users discover optimal liquidity across multiple trading channels and complete trading at optimal price.

Conclusion

Considering the current BSC/ETH TVL ratio, BSC/ETH active site comparison, and the migration trend of many popular Ethereum projects to BSC, DeFi focus continues to move to BSC in all aspects, and we look forward to seeing more DeFi innovations happen on BSC!

For more information, visit: bscproject.org

Happy Farming!

All projects build on BSC, https://bscproject.org

Love podcasts or audiobooks? Learn on the go with our new app.

AMA RECAP : CRYPTO BLASTERS X TRIBE ONE Venue : Crypto Blasters Date :11 July 2021 Time : 12:00 PM…

BoringDAO oPortal USDT Bridge is Live on 9 Chains

Announcement of pool allocation points adjustment

easy money or Hard Work

WALL STREET BETS Grabs $170 Welcome Bonus on Huobi!

How to install Metamask & add Polygon Network

With New Years come new adventures

USDC Draws Support from Seven New Companies, Consolidates Market Cap Above $700M

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
BscProject

BscProject

All projects build on BSC, https://bscproject.org

More from Medium

iBG Finance

Introducing Mid-Term Farming

Cross-Chain Bridge v2: Bridge Tokens & NFTs. Provide Liquidity. Earn.

New Farm/Pools UI explained