Binance Smart Chain (BSC) continues to produce significant developments. To keep users informed of the latest developments concerning BSC, Altcoin Buzz has compiled the latest updates from last week.
In the past week, Deri Protocol introduced BSC DeFi index perpetual contract. Additionally, the Binance Smart Chain (BSC) ecosystem reached new milestones.
1 – Deri Protocol introduce BSC DeFi index perpetual contract
Deri Protocol, a decentralized system aimed at exchanging risk exposures in a capital-efficient manner revealed the BSC DeFi index perpetual contract. It’s also the first BSC DeFi index covering major BSC DeFi projects.
👇Read more about our unique iBSCDEFI Indexhttps://t.co/zohvbHb4XZ
— Deri Protocol (@DeriProtocol) July 29, 2021
“Deri Protocol’s Inno Zone is a special trading zone allowing traders to trade new, innovative trading symbols. Our aim is to keep rolling out new perpetual contracts in a short time. As of today, we take it a step further by listing the BSC DeFi Index, covering selected popular DeFi projects on the Binance Smart Chain,” the report stated.
Besides, the projects covered are BUSD-margined iBSCDEFI perpetual contract, and DERI-margined iBSCDEFI perpetual contract.
2 – Binance Smart Chain (BSC) Attains New Milestones
During the week, Binance Smart Chain (BSC) attained a new milestone of 900 million completed transactions on the BSC ecosystem. This means that with less than a year in existence the BSC ecosystem has completed almost a billion transactions.
BSC needs less than 100 million transactions to hit 1 billion total txs!
With 31 days left before #BSC turns 1, the network must process 3 million transactions every day to make it in time for the big anniversary.
— BNB Chain (@BNBCHAIN) August 1, 2021
DappRadar, a trusted source for decentralized app (dapp) data revealed that four of the top ten most-used dApps operate on the BSC ecosystem. These four are CryptoBlades, PancakeSwap, CryptoBlades Marketplace, and Autofarm.
3 – Priority ONE: a $10m Joint Bounty Program on Binance Smart Chain (BSC)
Priority ONE bounty program is a $10 million bounty pool aimed at improving the security on BSC system, as well as, discovering any possible form of vulnerability.
According to reports: “To ensure that the community can use Binance Smart Chain dApps in a safe environment, we will create an attractive joint bounty program for bounty hunters, white hats, and ethical hackers. This joint bounty program aims to continuously improve software security and lifecycle management, provide risk controls, and attract more proactive penetration testing to identify issues early. We aim to create a $10 million USD bounty pool that will reward all bounty hunters for disclosing verifiable attack vectors or security flaws across up to 100 dApps…”
Reports also revealed that the reward will be distributed based on the “severity and exploitability” of the vulnerability that is discovered.
4 – C.R.E.A.M. Finance’s Boosted Savings Initiative Commences on BSC with BNB
C.R.E.A.M. Finance has revealed its latest product for depositors, “Boosted Finance” with Automated Validator Delegation. This means that with a click, users will be able to earn Validator Rewards and Supply APY.
Besides, it applies to only BNB depositors on the BSC ecosystem with plans to carry out expansion into other chains.
Innovations from @CreamdotFinance
Higher APY is comprised of lending interest and shared BC/BSC validator rewards🤩🤩🤩
— BNB Chain (@BNBCHAIN) July 30, 2021
“The added benefit for users is they are able to withdraw their funds at any time, and are not subject to the normal 7 day lock up period required for staking to a BSC validator. Additionally, users maintain the option to borrow up to 75% of their BNB position for whichever asset they choose,” the report added.
As of the time of publication, Binance Coin’s price was $355.24 with a 24-hour trading volume of $1,612,226,768. BNB price also rose by 6.2% over the last 24 hours.