BNB Chain (Binance Smart Chain): the most promising tokens

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Binance Chain, then Binance Smart Chain and now BNB Chain: The blockchain that powers the Binance ecosystem is evolving, and not just in name. With $ 1 billion in support, the projects developed in BSC are multiplying. While many have failed in the bear market, some have succeeded and are consolidating. Overview of the most promising tokens (and projects).

What is a BEP-20 token?

First of all, it is useful to remember that, like Ethereum, Binance Smart Chain is a so-called second generation network.

This is a “programmable” network, so to speak. the community can create decentralized applications there (famous dApps) and with these tokens with sometimes fictitious names (famous tokens).

Therefore, the token developed on Binance Smart Chain is referred to as BEP-20 token in reference to the IT standard that must be mastered to code a project designed to run on BSC. In Ethereum we are talking about ERC-20 tokens.

The most famous BEP-20 token is BNB..

In fact, Binance Coin (BNB) is for Binance Smart Chain what ETH is for the Ethereum network: a native token. BNB allows users to pay transaction fees on the Binance platform itself, as well as on various applications hosted on the BSC network.

Today, There are nearly 10 times more BEP-20 tokens on the market than ERC-20 tokens..

The reason is simple: BSC was able to take full advantage of Ethereum’s congestion problems, and with the help of large subsidies, Binance was “pushing” the development of a strong DeFi ecosystem on its network.

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Good to know : BEP-20 token transactions are significantly cheaper than ERC-20. Verification time on Ethereum varies from 12 seconds to several minutes, and on BSC – less than 3 seconds!

BNB network vs Ethereum: comparison between ecosystems

The most promising tokens on Binance Smart Chain

Whoever talks about tokens is inevitably talking about a project, where the token (as you have already understood) is only the currency associated with the project. It’s impossible to name them all, so we’ve sorted them out to provide you with a blueprint to follow for every hot market niche.

CAKE, a long-toothed DeFi token

CAKE serves two purposes of the PancakeSwap decentralized exchange. He serves Governance tokento coordinate decisions on DEX development. It also serves utility token.

As you should remember, PancakeSwap, launched in September 2021, is a decentralized exchange built on the Binance Smart Chain BNB. As of the end of June, PancakeSwap accounted for 13% of the trade across all DEXs, amounting to nearly $ 18 billion for 350,000 active users.

We recently informed you that Binance Labs (a venture capital subsidiary of Binance) has raised funds for PancakeSwap. DeFi project with the most powerful TVL – all assets deposited in the newspaper – in the BNB chain.

BUSD, the safest stablecoin on the market?

Experts consider BUSD to be the third stablecoin on the market ($ 17 billion). safer and more stable Dollar Backed Cryptocurrencies.

BUSD is issued by Paxos Trust Company in partnership with Binance and is issued as BEP-20 token on the BNB chain and ERC-20 token on the main Ethereum network.

It is one of the few licensed stablecoins in the United States. In a context of strong suspicion towards stablecoins after the collapse of UST and LUNA, BUSD is confident in its ability to perfectly meet NYDFS requirements.The New York regulator is known for not giving gifts to financial institutions …

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IBAT, next x10 game to earn?

Less well known are the IBAT tokens of the Battle Infinity game, new fantasy sports game where players from all over the world compete in tournaments and pit their players against each other (in the form of NFT). The concept is reminiscent of Sorare, the last French unicorn.

At the time of writing, the IBAT token is on presale with the same amount of 1 IBAT = 166.666 IBAT. The fundraising goal is set at 16,500 BNB or 28% of the total supply of tokens.

Similar to Facebook changing its name to Meta, the Binance Smart Chain BNB Chain name change is not just a rebranding: Binance ads systematically associate BNB Chain upon completion. Metaphys. Clearly, this is a new playground at the intersection of decentralized finance and the metaverse. The huge financial fortune gained through gaming and parallel universes seems to have convinced Binance to make the switch as well.

We understand a little more interest in investing in projects like Battle Infinity (IBAT), one of the most promising MetaFi / GameFi projects on the BNB network.

For understand how Binance Smart Chain worksread our full file here.

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