Every week, there are new developments in the Binance Smart Chain (BSC) ecosystem. To keep readers informed, Altcoin Buzz looks at the top BSC updates from the fourth week of December 2021.
During the week, Binance Smart Chain (BSC) invested in Crypto Gaming United. Besides, reports show the best dApps on the Binance Smart Chain (BSC) platform. Let’s take a look at the latest BSC updates in detail.
1 – BSC Invests in Crypto Gaming United
BSC will be investing in Crypto Gaming United (CGU), a P2E gaming platform, from its $1 billion growth fund.
According to the announcement, CGU will be able to utilize this investment in improving Web3 engagement via its P2E metaverse economy. Notably, CGU wants to use the funds in creating blockchain gaming income to its community, and they plan to have one million members on their platform by 2024. They’ll specifically focus on economies plagued by the pandemic and youth unemployment.
"CGU provides a platform for everyone irrespective of their location, background, and skillset, to build a new virtual economy powered by sustainable income,"
– @odagius, Investment Manager of the #BSC $1B Fund on the investment into @CryptoGamingUtd
— Binance Smart Chain (@BinanceChain) December 25, 2021
They also plan to introduce:
- More payment pathways that link the platform’s economies with economies in the real world.
- More ways to reward community members for off-chain and on-chain activities.
- Educational measures for new and existing members.
2 – Top Five dApps on the BSC Ecosystem
A recent report shows the best-decentralized applications (dApps) by volume on the BSC ecosystem within a 7-day period.
Based on the BSCDaily report:
- Venus Protocol ($XVS) is 1st with $8.98 billion in volume.
- Solo.top is 2nd with $6.5 billion in volume.
- Biswap ($BSW) is 3rd with $1.87 billion in volume.
- PancakeSwap ($CAKE) is 4th with $1.3 billion in volume.
- Alpaca Finance ($ALPACA) is 5th with $411.2 million in volume.
TOP BSC DAPPS BY VOLUME LAST 7 DAYS ‼$XVS @VenusProtocol@solo_top$BSW @Biswap_Dex$CAKE @PancakeSwap$ALPACA @AlpacaFinance$ACSI @acryptosdao$CREAM @CreamdotFinance$BANANA @ape_swap$MDX @Mdexswap$XMS @MarsEcosystem#BSC pic.twitter.com/VvfBVwrFdJ
— BSCDaily (@bsc_daily) December 21, 2021
3 – BSC-based Platforms to Change DeFi Landscape
Venus Protocol and Deri Protocol, two platforms on Binance Smart Chain (BSC), will be working together. Therefore, Venus liquidity pools make it possible for Deri to create the “External Custody” function.
The new feature also enables tokens serving as collateral on Venus to be a support base token on Deri. Therefore, the scalability of the support base token system improves. Put differently, Venus will provide a system that’s like conventional finance (where the bank serves as a custodian for trading organizations when they pay capital into their accounts).
— Binance Smart Chain (@BinanceChain) December 22, 2021
Accordingly, the partnership will set up means to ensure the growth of Venus Protocol across areas like DeFi and GameFi.
4 – Celer Network Boosted by BSC $100M Liquidity Incentive
Celer Network, a Layer 2 scalability system with multi-chain support, is the latest beneficiary of the BSC $100M Liquidity Incentive.
Besides, the network will be fifth recipient of the Liquidity Incentive, joining Deri Protocol, MCDEX, WooTrade, and Decentral Games. Celer will focus on using the incentive to:
- Increase user engagement
- Attain sustainable liquidity
- Provide a top-notch user experience
Congratulations to @CelerNetwork on receiving a liquidity boost from the $100M Liquidity Incentive🥳 @CelerNetwork is the fifth project to benefit from the incentive, joining @MonteCarloDEX, @DeriProtocol, @WOOnetwork & @DecentralGames. https://t.co/otMeQlESHG
— Binance Smart Chain (@BinanceChain) December 21, 2021
BSC Outlook for the Year 2022
In the new year, Binance Smart Chain (BSC) will be looking to maintain and improve on the efforts that saw it carry out over 2.1 billion transactions in 2021. Thus, this figure will be exceeded.
Projects like PancakeSwap have been impressive in 2021, and this is expected to remain. More projects will also follow this path and be at the top end of the industry in the new year.
BSC will also have more partnerships, and there will be more interesting projects on the chain as there is an enabling environment for projects on the chain.
$BNB Price Outlook
As of the time of writing, Binance Coin’s price was $548.67 with a 24-hour trading volume of $2,255,765,796. BNB price also rose by 0.6% over the last 24 hours. Besides, it has a circulating supply of 168 million BNB coins and a total supply of 168 million.
Also, join us on Telegram to receive free trading signals.
Find out more about the blockchain and crypto space on the Altcoin Buzz YouTube channel.