Daily Binance Smart Chain ecosystem news. Daily updates on Binance Smart Chain news, apps and hacks.
Terra continues to defy the crypto selloff with its TVL surging 43% and surpassing Binance Smart Chain.
The DeFi markets are mired in the worst weekly slump since October highs.
Metaverse and plat-to-earn game tokens took big hits in the latest crypto selloff.
Sablier is bringing “payroll streaming” to Polygon and Binance.
This week’s markets roundup reports on Ethereum’s burn rate and the mixed performance of top tokens like Solana and Aave.
The victims of a 2017 hack – Aeternity, Edgeless, and Swarm City -have offered a bug bounty to recover their stolen ETH.
Binance, the world’s largest cryptocurrency exchange, has allocated $1 billion in funding to a new growth fund that aims to kickstart the next phase of expansion for Binance Smart Chain (BSC). According to the announcement, $100M will be earmarked for talent development to enable a “new generation of crypto-native professionals to push crypto adoption forward.” …
Binance Unveils $1B Growth Fund to Supercharge Blockchain Adoption Read More »
On-Chain Markets Update by Lucas Outumuro, IntoTheBlock Smart contract platforms’ tokens have been amongst the top performers of 2021. While Ether has recorded a remarkable 330% return year-to-date, newer platforms such as Solana, Avalanche and Terra have seen their tokens grow over 1,000% in 2021. The rise in these platforms has been driven initially by …
Exploring the Multi-Chain Universe Amid Incentives & Upgrades Read More »
The Layer 1 blockchain Harmony unveiled a $300M ecosystem fund today to back startups working on applications and protocols. There are many large blockchains now, but to a certain degree each one is a bit of a walled garden, Stephen Tse, Harmony’s founder told The Defiant, via a spokesperson. “Harmony was purpose-built so that developers …
Harmony Opens the Throttle on Layer 1 with $300M Fund for Myriad Projects Read More »
DeFi is getting easier for CeFi users. Crypto’s largest centralized exchange, Binance, now allows users to withdraw and deposit Polygon’s MATIC token directly from and onto the protocol’s proof-of-stake mainnet. Previously users needed to go through a multi-step process, either utilizing one of Binance’s two blockchains or swapping for Ethereum-based versions of MATIC when withdrawing …
Binance Now Supports Direct Polygon Withdrawals and Deposits Read More »
A race is under way in DeFi innovation. Established players and upstart newcomers alike are in the running. Gelato has been tinkering with use cases since 2019 and launched its production-ready V1 last July. Meanwhile, Keep3r network has been executing its own solution since late October 2020. And just last month Chainlink announced an Open …
Over the weekend, DeFi traders lost more than $11M across two hacks on Binance Smart Chain (BSC). On July 10, Anyswap, a decentralized cross-chain protocol, suffered a hack worth nearly $8M of USDC and MIM (Magic Internet Money), a lesser known stablecoin. The exploit happened in the protocol’s new V3 cross-chain liquidity pools. According to …
DeFi Traders Lost More Than $11M Across Two Weekend Hacks Read More »
Anyone in DeFi is probably familiar with the rug pull — the scam in which crypto developers abandon a project and vanish with investors’ tokens and funds. Now say hello to the “soft rug.” In this new breed of grift a project’s founders simply dump their tokens and exit a project instead of taking control …
Upshot: Uniswap and PancakeSwap have become household names in decentralized exchanges but a new crop of platforms are coming online with the promise of lower fees and more pricing transparency. With gas prices making headlines throughout the first half of 2021, it’s worth taking a deeper dive into what your options are when trading across …
First came the tweet, then countless discussions and debates followed. Within days, voila! A governance proposal materialized. This pattern is rapidly becoming the norm for DeFi protocols. This time the initiator was Sam Kazemian, the founder of Frax Finance, a protocol for a fractional-algorithmic stablecoin. His tweet suggested that Sushiswap, the automated market maker, should …
Proposal to Build Sushichain Catches Eyeballs, Raises Eyebrows Read More »
Binance Smart Chain’s most popular lending protocol, Venus, experienced a massive string of market liquidations totaling over $200M on May 18, and Venus, itself, has been left with $100M in bad debt because of it. The liquidations were primarily caused by the massive price swing of Venus’ governance token, XVS. The token jumped 88% from …
BSC’s Venus Protocol Left With Bad Debt After Liquidations Read More »
As the crypto sell-off continues, the Ethereum community has been more resilient than the Binance Smart Chain ecosystem, even though BSC enthusiasts tout the blockchain as a cheaper, faster alternative to Ethereum. While TVL on Ethereum had dropped 13% to $104.4B from $120B, Binance TVL had dropped 44% to $20B from $36B, according to data …
What Is Binance Smart Chain? Low Transaction Fees But Fickle DeFi Users Read More »
Safemoon, a Binance Smart Chain token, soared by 16 times in the past week driven by TikTok videos, only to immediately whiplash holders as it went on a dizzying ride that has halved its value. The token, whose platform’s only use case is to provide mechanisms to manipulate its price, is 54% below its high …
Safemoon Not So Safe? BSC Token Jumps By Over 10 Times, Then Halves Read More »
PancakeSwap, the leading Binance Smart Chain application in terms of market capitalization, blamed recent performance woes on an overloaded blockchain. “No, #PancakeSwap isn’t slow, BSC is just overloaded right now,” the tweet said. “We also have an ATH number of people using the site.” The increased demand for BSC block space appears to be the …
Binance Smart Chain Congestion is Slowing Down PancakeSwap Read More »
Ellipsis Finance, an authorized fork of Curve Finance, launched yesterday on Binance Smart Chain (BSC).The protocol is an exchange for stablecoins and its launch doc promises traders “very low slippage and minimal fees.” As the protocol is an “authorized fork,” holders of veCRV, Curve’s governance token which earns trading fees and liquidity provider rewards, will …
The last couple of weeks, if you kept your ear close enough to the ground you could feel there was something brewing. I couldn’t quite put my finger on what it was because it wasn’t about high gas fees or the bull market or DeFi but something bigger than all that, it was the emergence …
#ALTDeFi BSC and the Rise of Off-Eth “Decentralized” Finance Read More »
The DeFi world is abuzz with the following question: Is Binance Smart Chain taking over Ethereum as the ecosystem’s base layer? We looked at the numbers and the answer is not by a long shot ––at least not yet–– and this is assuming that BSC can actually be considered DeFi, which some Ethereum advocates will …
ETH Remains DeFi King as BSC Fights for the Crown Read More »
