Top 5 Projects on Binance Smart Chain!

Before you start getting ideas that this post is aimed at shilling some obscure new projects on Binance Smart Chain, let me clarify that these picks are not selected by me.

These have been selected by Binance through their MVB (Most Valuable Builder) Accelerator Program to boost the most promising platforms running on BSC.

You can find the Binance release here - https://www.binance.org/en/blog/the-mvb-accelerator-program-enters-the-last-phase/

The 5 projects Binance has selected are AutoFarm, PancakeBunny, Sphinx, bDollar, and NFTBox.

Through this post I would be analyzing what is my opinion about these projects, what has been my experience using these platforms so far. What I think about the long term potential of these projects and whether I will recommend them to my friends (of course not as a financial advice).

Some of the platforms mentioned on the list I am quite familiar with and had been using for quite some time while there were some new ones which I had not heard of before and decided to do some research on after I got to know about them through this announcement by Binance.

The MVB program will provide a big boost to all projects on this list as Binance will provide the following support:

·       Seed funding of up to $100,000 in BNB.

·       Liquidity support of up to 2 million USD.

·       Participation in the Community Vote for a direct listing on Binance

·       Full security audit from CertiK

·       Incubation workshop with industry experts

While the seed funding might not be huge amount considering $100K is nothing for the bigger projects as AUTO already has more than $1 Billion in TVL but it will be useful for smaller projects like NFTBox. The $2 Million will also provide a safety net in case they run into trouble if there is a bearish correction in the market.

Once these projects eventually get their Binance listing I will not be surprised if they jump into the top 100 projects by market cap.

1.     BDollar Finance

This is the project I am most bullish about and if I had to pick one project from the list it will be this. I have been investing on this platform for about a month now and I plan to stick to it long term.

BDollar was the first project launched on BSC using the algorithmic stablecoin and has over $100 million in TVL. In fact the TVL was more than $300 million a few days back but the project saw a spurt of panic selling once it’s stablecoin dipped below the $1 peg. It is starting to recover now and I expect it to recover much faster after this formal vote of confidence given by Binance. This project can be accessed at http://bdollar.fi/

The stablecoin of this project is called BDO and the share token which generates rewards in BDO is called sBDO. I will not go into too much details as I already wrote a piece about this project which you can access at the following link - https://www.publish0x.com/crypto-projects-sams-reviews/bdollar-promising-gem-on-binance-smart-chain-xxwnkyn

2.     Auto Finance

This is another project on this list which I have been using for close to a month now and I plan to stay invested here for the long term. I started  using this platform once the rising ETH fees made Harvest Finance impossible to use. I was looking for a yield farming site similar to Farm and Auto seemed like a good fit. It has a very easy and simple user interface and provides options to provide liquidity to most of the popular token or token pairs on BSC. It has been gaining a lot of popularity among BSC users and already has more than $1 Billion as total value locked.

You can access the platform at https://autofarm.network/.

3.     Pancake Bunny

I had come across Pancake Bunny some weeks back but I found it very similar to Auto and did not find any significant advantages in Bunny so I did not move any of my funds to this platform. It does seem that Bunny also has a big user base that it also has over $1 Billion in total value locked.

You can access the platform at https://pancakebunny.finance/farm

If I had to compare Bunny with Auto I see the main differences are the following:

·       Cross-Chains- Auto supports pools in BSC and Heco networks and already has farms running on both the networks. Bunny on the other hand only supports BSC and has plans of including Ethereum pools as well but it is not ready as of now.

·       Funds Lock- Auto does not have any lock in period and you can withdraw your funds anytime. Bunny on the other hand has a lock in period of 3 days and you are charged a 0.5% penalty if you withdraw within 3 days of deposit. This is the main reason why currently I prefer Auto over Bunny but I will be watching how the ETH chain develops on Bunny and if it will worthwhile to invest there.

4.     NFTBox

I had not heard of this project before the Binance article came out. I tried to search for information about it but there was not much material available. It is a much smaller project when compared to BDollar, Auto and Bunny. I think Binance wanted to include at least one NFT based project in the list that it is going to promote so probably included this.

You can access the project at following link: https://nftbox.vip/

The site interface is not very straightforward and chances are you will be confused about how to use it when you land there the first time. I found the link to their Telegram group and joined there. I was a bit skeptical as there were only 2 groups available- one in Chinese with 150 users and another in Vietnamese with less than 50 users. However there are some guys in the Chinese group that speak English and he directed me to some tutorial videos he had uploaded in youtube which gave me an idea about how the site is structured.

The platform basically has 2 set of NFTs available- Onmyoji (don’t ask me what that means) and Kingdom. You can get these by purchasing Airdrop boxes which will generate a random NFT. You also have the option to place bids for these random NFT generator boxes through Auction section where you might get it at a cheaper rate.

Once you have received some NFTs you have 2 options to earn through them. You can stake them to earn mining rewards in native NB tokens or join BNB rewards pool by combining the NFTs you have.

I will not advise to go for NFT mining as when you claim the rewards there you NFT card will be burned.

I have still not received a large number of cards to combine them into logical groups to earn pool rewards. I will probably do a follow up post on this site later once I get a better idea on how it runs.

As it is a really small project I am not putting any serious money here as there is a high chance I will never see that money again.

5.     Sphinx

This project is probably the smallest on the list and it is even tougher to get any information to on it on the net. Simply put it is a cross-chain oracle to ensure consistency in rates across different chains like Ethereum and BSC.

The site can be accessed on https://sphinx.finance/

The portal has a very beta look to it and it show a mining option of staking BUSD and BNB to earn their native SPX tokens, but it is so unclear that as of now I am not going to put any of money there.

They do have an active telegram with over 14K users but I think most of them are there to ask “wen airdrop ser?” as they recently did some airdrops to promote the site.

One thing to keep in mind is that these 5 projects are currently not in the same league as Auto, BDollar and Bunny are much bigger and audited projects with a large userbase. NFTBox and Sphinx are much smaller in comparison and not yet audited. Binance hs mentioned that it will get these projects audited and if it selected them there must be some potential so I would keep a watch on them in the coming months.

Let me know what are your views about these projects and if you know any site where I can get better info on NFTBox and Sphinx then do let me know.

If you want to have a look at how the interface of these sites actually looks like you can refer the video posted below.

Cheers,

SamBTC

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