What is Binance DEX?and DeFi on Binance Smart Chain

What is Binance DEX?and DeFi on Binance Smart ChainVisit website : https://www.blockchainx.tech/bep20-token-development
DeFi on Binance Smart Chain PancakeSwap BakerySwap Venus
Although Binance itself is a centralized cryptocurrency exchange , the company saw fit to launch a decentralized exchange in April 2019.
Full custody of crypto funds.
For example, as a centralized exchange , Coinbase is known for its downtime during high trading volumes .bsc token development Imagine needing to buy or sell a cryptocurrency at the right time, only to be thwarted by the exchange !
DEXs solve this problem by connecting to multiple servers in different regions.
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that serve as bridges between other blockchains . bsc token generator
For example:
Binance-Peg Ethereum Token (ETH) – linking ETH value to the BSC ecosystem – with a market cap of $357.4 million.
Binance-Peg BSC-USD (BSC-USD) – pegging the value of the dollar to the BSC ecosystem – at a market cap of $69.5 million.
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Binance-Peg BTCB Token (BTCB) – pegging the value of BTC to the BSC ecosystem – at $28.3 million. of market capitalization.
Regarding the most popular DApps in BSC, a very useful tool is DappRadar to get the complete list in different categories. Binance Smart Chain is currently running 1,555 DApps . Of which, 935 are for DeFi.
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It uses an automated market maker (AMM) to facilitate token trading without centralized oversight. After its launch in September 2020, its governance token CAKE skyrocketed in value.
This was a predictable result of traders choosing to use Binance Smart Chain instead of Ethereum due to high gas fees. Be sure to check out the guide on how to stake CAKE tokens for passive income through yield farming .
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BakerySwap For some reason, BSC dApp developers love to use nicknames for baking! In addition to
yield farming for its service as a liquidity provider, BakerySwap adds NFT on top.
When you earn BAKE tokens, you can put them to good use as a randomly generated combo meal in the form of NFTs.
This unique NFT collectible can then be further staked to earn more BAKE tokens. In July, BakerySwap passed a milestone by reaching 500,000 NFT transactions.
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Venus You may have noticed that decentralized finance relies on stablecoins . Because we don't live in a
world where most people use crypto for everyday spending, stablecoins are the bridge between DeFi and traditional finance .
The problem is that often a single company runs a stablecoin. , including popular ones like USDT, BUSD, and USDC. This does not contribute at all to the decentralization of DeFi.
The Venus Protocol intervenes with cutting-edge algorithmic stablecoins , VAI, collateralized by a basket of stablecoins and other crypto assets.
Effectively, this makes Venus a unique combination of Compound or Aave with MakerDAO, but exclusive to Binance Smart Chain.
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