BNB Chain, formerly known as Binance Smart Chain, has secured its place as the third most popular DeFi ecosystem, with about $12 billion in assets held in its most successful DeFi protocols, during the past year.
BNB Chain is a combination of Binance Chain and Binance Smart Chain; it now stands for “Build and Build” rather than Binance Coin.
The BNB is popularly known for its cheap transaction fees, and quick transaction completion times, BNB Chain is widely regarded as a low-cost alternative to Ethereum, and more than a thousand applications and tokens have already been launched on the platform.
In this post, we’ll examine the top 7 projects on BNB Chain, a high-speed transaction and smart contract platform meant to be efficient, accessible, and instantly recognizable to the majority of crypto users.
Best 7 projects on the BNB smart chain
From our research, the top 7 projects on the BNB smart chain to consider for investment includes:
- Pancakeswap
- Chainlink
- Tranchess
- Mobox
- MCDEX
- Alien worlds
- Baby doge
PancakeSwap
PancakeSwap is one of the most popular projects on the BNB Chain ventures. Despite its humorous moniker, PancakeSwap is by far the most popular decentralized application (dApp) on BNB Chain.
Now, it includes a whole suite of DeFi apps, such as a decentralized exchange, yield farms, prediction markets, and an NFT marketplace.
In terms of trading volume, the platform stands head and shoulders above other BNB Chain DEXs, with the PancakeSwap routinely recording more than $500 million in daily trade activity.
PancakeSwap has significantly exceeded expectations and is now one of the most successful projects now running on BNB Chain, with over 4 million monthly users.
As one of the key reward tokens for participants in PancakeSwap’s yield farms, the platform’s native asset, CAKE, has a wide variety of use cases but suffers from somewhat high inflation.
Chainlink
As an oracle provider, Chainlink enables blockchain-based projects to seamlessly include data feeds from off-chain sources, such as IoT sensors, financial exchanges, and centralized databases.
This information may then be fed into smart contracts to help the power and security of a vast array of decentralized apps and services, such as exchanges, tokenized stocks, and prediction markets.
Its two-way oracles also enable conventional businesses and databases to receive data from decentralized blockchains, helping to bring blockchain’s benefits to the real world.
Chainlink, which was initially launched on Ethereum, has been connected with BNB Chain and other blockchains, and its native asset, LINK, may be bridged to BNB Chain using a normal token bridge.
Tranchess
A protocol and platform for trading derivatives that offers a choice of yield-bearing funds tailored to different risk appetites.
Currently, the platform offers three funds, each with a distinct risk profile.
At the extreme end of the risk, scale is the ROOK fund, which trades leveraged assets to generate the largest potential profits for its investors. The QUEEN fund, located in the middle, primarily aims for long-term investors and offers reasonable dividends with minimal risk.
And finally, we have the BISHOP fund, which offers the lowest returns on stablecoins but also the lowest risk.
Since its launch in July 2021, Tranchess has continuously provided some of the highest returns in the BNB Chain DeFi market, and its protocol presently has close to $800 million locked up.
Tranchess provides a number of other DeFi tools, including a swapping platform and a primary market for issuing, splitting, and merging QUEEN tokens, in addition to its popular risk-return products.
Mobox
Mobox is a popular GameFi platform that emerged on BNB Chain in the middle of 2021, catering to fans of play-to-earn games and non-fungible tokens.
The platform blends DeFi, gaming, and community to create an immersive ecosystem of products called the MOMOverse, which is Mobox’ metaverse.
Current play-to-earn games in the Mobox ecosystem include the battle game Block Brawler, the cross-platform idle mining game ChainZ Arena, and the turn-based idle game Token Master.
With its NFT creation tool suite, marketplace platform, and game creator, the Mobox platform also aims to make NFTs more powerful and accessible.
Mobox is unique among BNB Chain initiatives in that it was launched without a token sale or pre-mine, and the MOBOX utility token was issued for free to users depending on their platform activity.
MCDEX
In the past year, MCDEX DeFi derivatives have gained significant traction, as they offer an attractive option to trade digital assets without relying on centralized platforms or being constrained by spot exchanges.
By utilizing BNB Chain, MCDEX claims to make DeFi derivatives more accessible and affordable.
MCDEX is a permissionless DEX for perpetual futures that allows users to go long or short on over a dozen different assets with up to 15x leverage.
For those unfamiliar with leverage, this means that their gains (or losses) can be multiplied by up to 15x.
As an automated market maker, MCDEX permits users to contribute trading fees, funding payments, and liquidation penalties to the protocol from traders. It also has its own insurance fund, similar to Binance’s, which is used to cover liquidation losses if they arise.
Since its introduction in October of last year, MCDEX has developed to become one of the few functional DeFi derivatives platforms, enabling traders to maximize their capital efficiency and trade with ease on both sides of supported markets.
Alien worlds
Alien Worlds is one of the few play-to-earn games with genuine potential. In an industry filled with hordes of clones and copycats, it is distinguished by a vast array of distinctive characteristics.
In this game, players gain NFTs to mine the TLM token, engage in combat with other players, and complete a number of objectives.
Users can also participate in its in-game governance system, which involves staking their Trilium tokens to one of several competing “Planet DAOs” in order to maximize its share of the TLM token emissions, which are then distributed among participants.
Numerous NFT-based assets, including land, tools, minions, avatars, and weapons, can vary substantially in terms of their rarity, desirability, and utility.
These can be used and exchanged, whereas in-game LAND assets in Alien Worlds can be rented to other players for a passive income.
Alien Worlds operates on three distinct blockchains and boasts more than 2.5 million players, doing more than others to appeal to a broader audience.
It also requires no initial commitment, which is uncommon among blockchain games nowadays.
Babydoge
This next idea likely requires no introduction for meme coin aficionados. We are discussing Baby Doge Coin, which is undoubtedly the most popular meme coin on the BNB Chain at present.
Baby Doge Coin is expected to be an upgraded version of the ever-popular Dogecoin when it launches in June 2021. With over 1.3 million holders, the token is presently one of the most widely dispersed assets on BNB Chain.
It has also been advertised in high-profile locations, including as on the custom-wrapped No. 68 Chevrolet Camaro of renowned Nascar racer Brandon Brown and in a popular tweet by tech pioneer and meme-coin enthusiast Elon Musk.
Despite the fact that Baby Doge Coin is a hyper-deflationary meme coin, the project also supports a large number of charitable organizations and dog rescue programs.
