BSC Farmer’s Weekly Newsletter #22

DeFi Recap

This week BSC DeFi’s total value locked(TVL) reached $36.0 billion.

Among them, PancakeSwap has $19.95 Billion ranking the first, Venus $2.98 Billion is the second, Tranchess $1.54 Billion the third, Alpaca Finance $1.54 the fourth, MDEX $1.11 Billion is the fifth.

Trend of the week

  • The best-performed BSC Tokens this week are:

BnEX(152.89%),PEKC(151.11%),XMS(117.99%),MRCR(89.38%),DOP(88.15%)

  • Overview of BSC Ecosysyem updated:

Farm of the Week

Qubit

https://qbt.fi/app

QubitFin is a new DeFi lending protocol on BSC, developed by PancakeBunny team. By staking, borrowing and lending on the platform, users can currently earn up to 75% of the comprehensive annual income.

The following is an example of depositing BNB and lending MDX:

  1. Deposit BNB, the APR + reward is 3.7%
  • Confirm to deposit BNB as collateral in the Supply Market
  • After that, users will start earning interest on their deposited assets BNB (APR 1.19%) and QBT (APR 2.51%).
  • To supply more collateral, click Supply in My Supply Markets. To redeem your collateral, click Redeem in My Supply Markets.

2. Borrow MDX and the APR + reward is 12.69%

  • You can borrow MDX in the Borrow Market. Currently, the platform does not display the quantity available for loan, you can enter the amount you need. Pay attention to the changes of Limit Used. The higher the value, the greater the risk of being liquidated due to insufficient collateral in the event of market volatility.
  • After the borrowing, you can get QBT with an APR of 45.24%, but bear 32.64% of the borrowing interest. If you want to repay the loan assets, you can click on My Borrow Markets and click Repay.

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

NFT Project Introduction

BscProject DAO Membership

https://bscproject.org/#/membership

Inspired by fair minting NFT of Loot and Rarity, we introduce BscProject DAO Membership NFT to the BSC community. This Membership NFT is minted for free, you only need to pay the Gas fee.

After logging in to your BSC wallet at BscProject, click Membership to enter the NFT minting page.

Membership NFT is divided into three types: Human, Robot, Ape. You can select your NFT type and mint.

Each Membership NFT has two basic attributes: XP and Level. The NFT owner needs to click on Adventure every day to earn xp. When you have accumulated enough xp, you can also click Level Up to upgrade NFT. The higher the NFT level, the more opportunities there are to claim rewards later.

Due to the SVG nature of BscProject Membership NFT, it naturally supports Lego-like expansion across projects within the BSC Ecosystem. We welcome BSC community to join us in driving BscProject Membership NFT into more diversified application scenarios.

Plow of the Week

Suterusu

https://bscshield.suterusu.io/app

The Suterusu Protocol is a Layer2 private payment infrastructure for smart contract platforms that has passed the Peckshield security audit. It allows users to anonymously send BSC assets to target address.

After creating a wallet account in Suterusu, users can transfer the BSC asset to the Suterusu wallet account, and then the asset can be sent to the target account anonymously.

Conclusion

Monthly Star, a new concept introduced in BSC MVBIII, will help us better identify projects that consistently perform well and help dApp developers take their dApps to the next level.

BSC announces the Monthly Star each month from August to October (the August award is presented in September). The BSC MVBIII Monthly Star will be announced in the second week of each month. The Monthly Star for August was announced on September 13.

For more details: https://www.binance.org/en/blog/mvbiii-monthly-stars-august/

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