I now feel totally at home when using DeFi DApps. For me it was hard to enter this world during summer 2020, when there was the first DeFi boom. That's because it occurred mainly on top of the Ethereum chain, which means high fees, as high as 5$, for every little stupid interaction with the blockchain.
Now the Binance Smart Chain (BSC), with all the new BEP-20 tokens and Dapps, is starting to give some good products. After the failing BurgerSwap (it never attracted me that much), now PancakeSwap, Venus Finance and others projects, are shining. I hope the best for BSC. Meanwhile, we are all waiting, at least me, for more Dapps on Polkadot.
The 4'720% APY return investement, mentioned in the title, it's real. It comes from the BSCX-LaunchpoolX service. BSCX aims to be the next big Decentralized Exchange (DEX) on top of the Binance Smart Chain; apart from trading, this platform wants to focus on all kind of services a normal Centralized exchange would give to his users, like Savings and the various coin offerings.
They basically wants to mimic, in a decentralized and non-custodial way, the famous exchange Binance, and their funding token is called BSCX. They have introduced, for now, only the Swap and LaunchPool functionalities. But their roadmap speaks about a LaunchPad (like on Binance), an AMM, a decentralized fiat settlement Layer and of course a Lender/Borrower market. Nothing is missing. (More infos at the links in the resources)
So the 4720% APY comes from the LaunchPoolX, which you can find here , (no referral eheheh). I've put money into their BSCX-BUSD pair and then put to stake the Liquidity-Provider (LP) tokens, like on PancakeSwap or other DeFi applications. They offer two more pools, BSCX-CAKE and BSCX-BNB.
A screenshot may tell you more than 1'000 of my words:
The hope, of course, is that the token will soon rise in value. BSCX token is available on the Pancake Swap, and was recently "officially" supported by TrustWallet. A funny thing about the Binance smart chain is that new blocks are mined every 3 seconds approx, and so your Rewards increases really just infront of your eyes!
Thank you for reading! Try to have a funny Sunday :-)
Goodbye !
Resources:
Posted Using LeoFinance Beta
Thanks for that, I’m always searching for new DeFi to try on BSC.
Did you try pancake or Venus ?
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Yes I've tried Pancake quit a lot, both to stake TWT and BNB to earn more Cake , and to stake Cake to earn Cake. Everything went fine.
For Venus, I'm planning to get into, expecially for the high yeld they give for stacking their stablecoin "VAI"
Posted Using LeoFinance Beta