Binance & Binance Chain Uptades - Will BNB Chain Survive The ETH Layer-2 Expansion?

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Written by

#Club1BCH

1 year ago

Topics: Binance, Ethereum, Defi, Bnb, Finance, ...

I was a huge fan of Binance, considering BNB as one of the most solid cryptocurrencies available.... until they removed the Earn opportunities for UK members. The mayhem went further as the SEC sued CZ, than Binance had issues in the Netherlands and now in Belgium.

After the UK drama, Binance has suffered setbacks in more European markets after it announced plans to quit the Netherlands and came under investigation by French prosecutors. CZ's announced that Binance will leave the Dutch market after it failed to obtain a license from the country's central bank. Belgium gave the next hit, as they asked the CEX to stop their business in the country. Wish Europe was as crypto friendly as Dubai!

I was affected by the UK issue, getting rid of shitcoins and deadweight! For some of them... the only reason I held was because of the Earn opportunities. Getting 100% APR on tokens like $GAL, $DODO, $SAND or $HARD was good enough!

I shifted towards the BNB chain, where things are less centralized, but with a focus on quality not quantity. But what is the use-case of the Binance Chain and can the DeFi opportunities in there ignore the FUD? Will BNB Chain Survive The ETH Layer-2 Expansion?

The BNB chain focus is to promote Web3, boosting gaming, real estate, insurance and art. But is this the chain that top businesses will use? Will the top games be launched on BNB? Hard to tell... but until then... is still a good place to hustle!

Web3 ... we hear this word everywhere! It's the new buzz-word for anything related to crypto, but it should refer to Dapps and protocols that are open and decentralized. The Web3 is the direct evolution of social webs, social networks and internet services. It's Web3 if it has an integrated blockchain solution, is hosted on the blockchain, accepts crypto payments and is transparent.

Some of the options are still limited, and titans like Facebook, Twitter and Google will live long enough to see Web5 or Web6! I hope by then I would not be as broke as the Web3 PVM!

The Purge continued and checked places long forgotten! Visited Cub Finance in the search for stuff I forgot about it and found that my $CUB is still locked for 8 more months. I remembered I went for a full year staking, as the value dropped so much!

I currently hold 4,236 $CUB and earning at "up to 22.25% APY"! No idea what it means or how much I am really earning, but I refuse to sell the bag for only 65 dollars. I want to see either $CUB dropping to zero or growing to 1 USD in the next 8 months.

I said I want to get rid of deadweight and BTCST turned into a non-profit things. The earnings stopped and no staking rewards were added for weeks! I farmed BTCST on the Binance Launchpool and on Pancake Swap, and I am still on the profitable side of the business.

Checked and had some earnings that had to be claimed! Was time to activate the exit plan. Because all the either farmed (Binance Launnchpool, Pancake Swap or the BTCST Dapp) I was ready to sell for less than the true value.

Some BTCB crumbles were farmed as well, and sold them for extra BNB, therefore this was a good experiment. I had 31.48 BTCST in my stash and swap them for 0.72 BNB. Was this a good deal? No if you think the ATH was at $91.94 and I didn't sell any BTCST when it reached that milestone!

Bakery Swap bro! Anyone remembers Bakery Swap? I had some $BAKE from selling two Gorilla NFTs that I created on their platform. Bakery Swap was the first protocol to create NFT markets on Binance Smart-Chain, and staking pools with NFT rewards.

I had the $BAKE staked in the Bread Pool probably since 2022 and it farmed only 0.367 since then. Time to toast some bread and add some butter! Sold all for 0.017 BNB and got rid of another dead crypto.

Ranger Protocol ($RPG) is not a shit coin, but I had this 50 tokens that never surged for months. Decided to sell it for CAKE and BUSD, and moved to Pancake Swap to see what stuff without utility I farmed lately. They are constantly adding farming pools for weird tokens, and they lure me with 100-200% APR... just to remember that those pools are capped to 100 $CAKE per user.

One of the best APR was on Stader ($SD), the native governance and value accrual token for Stader. The Stader Protocol is building key staking middleware infra for multiple PoS networks for retail crypto users, exchanges and custodians. Stader is building extremely modular smart contracts so third parties can leverage our components and build custom solutions.

In the short term, Stader is building native contracts across multiple chains including Terra, Solana, Ethereum, Near, Avalanche, Fantom etc., and building an economic ecosystem to grow and develop solutions like yield redirection-style farming with rewards, liquid staking, launchpads, gaming and more.

I farmed $SD for a while, as the farming period was longer than the other pools. Swapped all for BNB and moved to new pools, hoping to find a new low cap gem!

Meanwhile on Binance, a new launchpool was announced. Surprisingly, I was able to take part in the $EDU event and got about $0.20 worth of tokens. The Open Campus ($EDU) project was designed with educators and learners in mind, as Open Campus aims to be a significant driver in the creation of a robust, inclusive decentralized education system.

New cool stuff is created in the Cryptoverse, and at least I know that I can still participated in Launchpad/Launchpool events. It looks like Binance is not 100% dead for UK users!

I will conclude the Binance updates with another successful event, being able to farm ID during the Launchpool event. The launch of SPACE ID governance token - $ID - was made as a public release on the Binance Launchpad, where users could stake BNB and TUSD to farm!

It's not much but is honest work! Got 2.66 $ID and will hold it to see how this project unwraps. It may be a gem for diamond hands, considering that the project took the market by storm with its .bnb domain name service, which quickly gained over 447,000 registrations and 257,000 unique holders within 6 months of its public launch.

Furthermore, SPACE ID’s announcement of its 2.0 upgrade marks a pivotal moment in the Web3 industry. The upgrade includes a comprehensive one-stop Web3 domain and identity platform, a multi-chain name service, and Web3 Name SDK and API. With this ambitious upgrade, SPACE ID aims to revolutionize the Web3 industry and establish itself as a game-changing force in the market. HODL mode activated!