The first Binance Smart Chain (BSC) Farmer’s Day, what did the giant whale rich farmers say?
Editor’s note: This article was officially contributed by Binance Smart Chain (BSC), and Odaily is authorized to reprint it.
On February 8, 2021, the "First BSC Farmer's Festival" hosted by the BSC (Binance Smart Chain) community was officially held. Rich farmers from different fields were invited to focus on liquidity mining, wealth encryption, and trading tools. , chain security and other issues have been discussed in depth. The three-and-a-half-hour live broadcast was full of dry goods, and there were a lot of airdrop benefits. The top leaders in various fields gathered together and produced countless sharp opinions.
In the opening session, Binance founder CZ expressed that his current energy and funds are in Binance. Although he likes BSC mining, he has no time to participate. For ordinary investors, he suggested that you divide the encrypted assets into three parts, one third in Bitcoin; one third in the more mature top 10 currencies such as BNB; and the other third in Try high-return and high-risk new currency investment, similar to the cake above BSC.
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Rich farmers in the top mines come to "tucao", retail investors are cautious about rushing to the top mines
In the round-table discussion of the session of "Tou Mine Rich Farmers Come to 'Tucao'", the guests were all representatives of "rich peasants" with rich experience in mining on the BSC chain. The 4 guests were: Cao, Managing Director of the Digital Renaissance Foundation Yin, co-founder of Cobo & F2Pool Shenyu, partner of Multicoin Capital Mable, and superintendent of Benmo Academy. During the conversation with Tracy in Cointelegraph Chinese, four big mining players shared their mining experience on the BSC chain.
Cao Yin said that on the one hand, BSC provides better TPS and lower gas fees similar to Layer 2. On the other hand, BSC has always insisted on selecting the highest quality projects for BSC, and has a clear understanding of future development trends. BSC has become a DeFi ecological accelerator and incubator. After establishing such a solid foundation, it can fully compete with Ethereum and attract more crypto whales.
As a super large player on BSC, Shenyu believes that BSC has a smooth user experience, such as PancakeSwap, a unique and long-lasting mining project with stable income, and it is a public chain that is easy to operate. Talking about the wealth code Shenyu on BSC, Venus, the largest lending project, and PancakeSwap, a classic DEX project, are both good choices.
Mable talked about the Binance ecology. Binance has come out of many projects with wealth effects, such as Alpha and Rune. There will be more Ethereum native infrastructure projects on the BSC chain in the future. She believes that BSC can be regarded as a side chain of Ethereum. For many participants without DeFi experience, they can experience various DeFi on BSC at a relatively low cost.
The KOL Super Jun, who is also very appealing, pointed out that mining is a matter that accumulates over time, and he mainly adopted the strategy of "digging, withdrawing and selling" to outperform the rise of Bitcoin. At present, BNB has not been sold as a hoe during the mining process, and the recent increase in BNB has been harvested.
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Spring plowing to get rich economic exchange meeting, the most important thing is to be vigilant against risks
The guests in the second roundtable discussion were Dominator008, the core developer of Celer Network, Lao Ma, the co-founder of Heartbeat Accelerator and CEO of Block Storage Mining, Eric Yu, CTO & Co-founder of MathWallet, and William, a well-known opinion leader in blockchain. The moderator of the roundtable talk is Jeff Zhang, head of the BSC community.
Dominator008 is pleased to say that he has participated in the very first BurgerSwap. From the perspective of an ordinary user, he still has a very good feeling for BSC. He personally thinks he is more optimistic about Helmet, an innovative and improved project based on Cover in BSC.
The miner Lao Ma also believes that BSC has certain innovations compared with Ethereum, and gives a suggestion that the first step of DeFi must be done on the public chain dominated by BSC or other exchanges, and opportunities are not scarce in the DeFi world. Principal is the scarce commodity, so don't put all your eggs in one basket.
As the developer of the wallet project, Eric suggested: DeFi is still in the early stage of experimentation, and the size of funds should be controlled; learn basic terms, such as the difference between "one pool" and "two pools"; regularly review the authorization of ERC20 addresses , to avoid the automatic operation of the contract to transfer tokens away.
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Money makes money strategy, new ways of lending, AMM, etc.
In this part of the roundtable discussion, the founder Mandy talked with Jeffery, the co-CEO of Fortube, Yang Mindao, the founder of dForce, Cindy, the co-founder & COO of Openocean, Jade, the market leader of BurgerSwap, and the co-founder & CMO of DODO. The topic was discussed.
In terms of lending, both Yang Mindao and Jeffrey have the right to speak in this track. Yang Mindao said that dForce’s lending is currently undergoing a major upgrade. The theme of the future market will be how to improve capital efficiency. The functions that have been added one after another, whether on the trading side or the lending side, making useful tools to improve capital efficiency will be the next development goal.
Jeffrey believes that how to empower some advanced concepts and technologies such as DeFi to the real economy in the future, and supporting the real economy is the most critical step. To a certain extent, borrowing can be derived from the issuance of bonds, which can be derived to empower the real economy. Exploring the support of real assets is the most critical strategic layout. It is hoped that DeFi can bring about an increase in production efficiency, not just a short-sighted behavior of staying within the industry and mining with so-called hoes.
BurgerSwap is an earlier DeFi project of BSC. Jade’s suggestion to farmers from a market perspective is to pay more attention to the latest developments of the project side to confirm the composability of DeFi, and hope that there will be more opportunities for gold rush through the combination of AMM and order book in the future.
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"BSC Farmers Security Association" was established to talk about public chain security
In this Farmer's Day, Binance Smart Chain as the initiator and the community co-builder decided to jointly establish"BSC Farmers Safety Association", Wu said that Lao Wu, the founder of the blockchain, as the host, witnessed the founding ceremony of the association with the founding members of the association, and expressed his views on the topic of security on the chain.
The guests present were divided: Keywolf, partner of SlowMist Technology, representative of security audit agency, Shuxiao Wang, VP of Peckshield Global Business, Connie Lam, director of security insurance system of Certik, Myra Wang, head of Chinese community of Oasis Network; representative of media Bsc.news CEO KDOT; data analysis Vincent Niu, head of product at CoinMarketCap; public chain representative Xiaoguang Zhang, ecological director of Binance Smart Chain; user representative Dai Jinsong, founder of Cailu Community.
Nine guests witnessed the establishment ceremony of the "BSC Farmers Safety Association" and said that the decentralized public chain is a brand-new track, and the ecological security construction of the public chain needs more people to participate. BSC belongs to the dual-chain architecture, Binance Chain and Binance Smart Chain are interconnected, and BSC points out more than 20 currencies, and links 4-5 other public chains, it is very difficult to locate and freeze running projects, and these complex The problem is also the reason why the Security Association was established to explore more effective ways to improve chain security and protect the rights and interests of farmers.
At the end of the live broadcast, Zhang Xiaoguang, head of the BSC ecology of the "BSC Village Committee", made a concluding speech. He said that at this time last year, he decided to develop another BSC. The white paper was published in April, and the testnet was released in May. At the same time, the main chain was all open source on the first day , Every step in the development of Binance Smart Chain is very cautious and prudent.
In the first week of the BSC mainnet launch, a US$100 million accelerator fund was established. So far, 15 projects have been supported, and 10 projects have been listed in the Binance Innovation Zone. In the future, we will continue to increase the support and incubation of more original projects. As the application of assets on the chain becomes more and more abundant, the BSC community needs a richer mechanism to be perfect. The establishment of the Security Association hopes to work with all security partners to discover projects that really do things. Early detection of problems can lead to closer cooperation, and can remedy these problematic projects and make efforts for the goal of decentralization. In the future, BSC will reach more cooperation with Polkadot and the Ethereum ecology. It is hoped that in 2021, more innovative applications can truly adopt the technical architecture of multi-chain cross-chain asset interconnection.
