BSC Farmer Weekly Newsletter #6

DeFi Recap

This week BSC DeFi’s total value locked(TVL) increased 96.1%, surpassed Ethereum TVL by 50% and it hit an all-time high of $25.3 billion.

Venus with $7.62 billion overtook Pancake with 6.46 billion. Ellipsis ranks third with $2.44 billion, MDEX ranks fourth with $1.92 billion, and Belt Finance ranks fifth with $1.77 billion.

Highlight of this week

MDEX, which has most TVL on HECO, has TVL of more than $1.9 billion on the first day once release on BSC.

BTCST has more than $400 million of TVL on BSC.

The best performed token in BSC this week are: BTCST(+62%), SAKE(+54%), NRV(+29%), ALPACA(+26%), CAKE(+14%)

Current total BSC projects exceeded 430.

Farm of the Week

MDEX is launched on BSC and opened for liquidity farming

https://mdex.com/#/liquidity

At present, MDX can be farmed by liquidity farming and single token farming

Operation process:

Liquidity Farming(Take WBNB-USDT as example):
1. Prepare WBNB & USDT
2. Visit https://bsc.mdex.com/#/pool ,add liquidity to WBNB-USDT

3. Visit https://mdex.com/#/liquidity, find farming entry of WBNB/USDT, stake WBNB-USDT LP,

– Single token farming(Take BUSD farming as example)

1.Visit https://bsc.mdex.com/#/pool ,switch to Single Token
2.Find BUSD farming entry,stake BUSD

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

Conservative Farmer

ellipsis.finance BSC version added fUSDT pool stablecoin double farming

In fUSDT/BUSD/USDC/USDT pool, user could farm ICE and EPS,ICE and EPS price are relatively stable and have good return.
Current fUSDT pool return rate:APY 34% + 69% EPS + 50% ICE

Operation process:

  1. Visit: https://ellipsis.finance/fusdt/deposit

2. Deposit supported stablecoin in fUSDT pool to finish Staking

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

Plow of the Week

SCV.finance enable users to see the real time farming revenue, the interface design is excellent, is one of the essential tools for BSC farmers.
https://scv.finance/

Conclusion

This week BSC’s appeal to DeFi increased tremendously and its TVL hit a new record.

On the one hand, the Price of BNB has been going up all the way, while the Gas Price of BSC has been lowered to 5 Gwei again. The service fee has not increased but decreased, attracting more users to participate.

Traditional IPs such as Hata Nogeyi have also announced a partnership with DEGO to publish NFT Album on BSC, attracting a wave of buzz.

More information on BSC projects, please visit bscproject.org.

Happy farming!

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