Binance Smart Chain continues to attract decentralized projects - the popular decentralized exchange aggregator 1inch announced the launch of its smart contract on this blockchain.
Binance Smart Chain (BSC) was launched in September 2020. Unlike the Binance Chain blockchain, BSC allows the deployment of smart contracts. At the same time, the network has high bandwidth and transaction fees remain low. 1inch CEO and co-founder Sergey Kuntz emphasized:
"We see a great opportunity - 1inch Liquidity Protocol could become the largest liquidity protocol on the Binance Smart Chain, especially since it is already the most efficient automated market maker on the market."
Aggregator DEX has already launched its 1INCH token on BSC, so users of that blockchain can apply the liquidity protocol. The 1INCH token can also be used as a gateway for interactions between BSC and Etherium. That is, a user can "send" 1INCH tokens from the Etherium network to BSC.
In doing so, they will be blocked in the Etherium network and the same number of tokens will be unblocked in BSC. This allows 1inch users to use popular DEX on the Binance Smart Chain network - PancakeSwap, BurgerSwap, Venus, StableSwap and others.
To attract users, aggregator 1inch has launched a "profitable mining" program in the BNB/1INCH pair. Starting February 26, users will be able to block BNB coins and 1INCH tokens, and receive a reward. The program will last four weeks.
Recall that the launch of the token 1INCH took place very recently - at the end of December 2020. Currently, the capitalization of the token is $650 million.