BSC tokens are going crazy, what should I do if I don’t want to miss it but I’m afraid of chasing high? Here is a boarding guide
Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc), author: longcrypto, published with permission.
Editor's Note: This article comes from
Babbitt Information (ID: bitcoin8btc)
Babbitt Information (ID: bitcoin8btc)
(Image Source:https://www.defistation.io/）
At present, the total lock-up market value of BSC has exceeded 10 billion US dollars, and it has continued to increase at a rate of 1 billion US dollars per day in the past 3 days, and the growth momentum is very strong.
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(Image Source:
BSC has gathered trading, banking, smart pool, swap, stable currency, insurance, oracle machines and other track projects. Among them, PancakeSwap, the leading project on the trading track, has a daily trading volume of 1.4 billion US dollars, which has surpassed uniswap, the leading Ethereum DEX. Autofarm, the leader of the smart pool track, has a lock-up volume of 1.2 billion US dollars, far exceeding YFI, the star of the Ethereum-based smart pool. The lock-up volume of venus, the leader of the banking track, is almost the same as that of AAVE of the Ethereum system.
In 2020, the Ethereum-based DeFi boomed, and many 100-fold coins were born. However, entering 2021, BSC-based tokens began to dominate the market, and the growth rate of various DeFi tokens crushed the Ethereum-based tokens. Taking the trading track as an example, the PancakeSwap token CAKE has increased 25 times year-to-date, while the tokens of uniswap and sushiswap have basically increased by less than 4 times during the same period.
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(From 2021 to now, CAKE, UNI, SUSHI will increase)
With strong fundamentals and an unstoppable pulling effect, it is difficult for us to ignore the existence of BSC.defistation.io
With BNB breaking through $270 and CAKE breaking through $18, and the community is full of fomo, let's take a look at which projects can still participate in BSC.
tool
If a worker wants to do a good job, he must first sharpen his tools. Before participating in the BSC project, you must first have some corresponding tools.https://pancakeswap.info
dynamic data:
Some star projects on BSC are listed on defistation. Compared with many unknown projects not listed, these projects are guaranteed, and the risk of running away is small. User participation can give priority to these above projects.https://bscscan.com/
On this website, you can view the locked amount of each project, click on each project to see more detailed data, including historical locked trends, project official website, Twitter and documents, etc.
Price K-line:https://www.binance.org/en/bridge
Enter each currency to view the historical trend of the corresponding currency. Due to BSC network maintenance today, the data cannot be displayed.
Blockchain explorer:
Like the Ethereum browser, you can view the historical transaction records of each address, which popular currencies, etc.
Binance Bridge, which is a bridging service specially created by BSC to map blockchain assets to the BSC ecosystem. Through Binance Bridge, you can map almost all popular blockchain assets to the BSC network, thereby participating in various DeFi activities. Of course, if you are very lazy, you can directly transfer the assets in the Binance Exchange to the BSC network, which is also very convenient.
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Connect to the BSC network
If you are participating in BSC for the first time, you need to set up the BSC network. Take the Little Fox Wallet as an example, open the Little Fox plug-in on the Google browser, select Custom RPC, fill in Binance Smart Chain for the network name, fill in https://bsc-dataseed1.binance.org/ for the new RPC URL, and fill in the chain ID Fill in 56, fill in BNB for the symbol, and fill in https://bscscan.com/ for the shield manager URL (for specific settings, please refer to this document:
After the connection is completed, do not transfer a large amount of funds in at one time. Once lost and cannot be retrieved, you can try to make a small amount of money into your own account to try your hand.
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Currently, the outstanding projects on BSC are as follows:
Trading, building liquidity, basic mining: Cake
Bank Track: XVS, For, Cream
Smart pool: Acryptos, Autofarm, Bunny, Beefy
Swap track: Cake, Bake, Burger, Anyswap
Stable currency track: bdolla
Insurance: Helmet wstoe
Among them, Cake is similar to BNB, XVS is similar to AAVE+UNI+MKR, and ACS, Auto, and Bunny are similar to YFI and Harvest.
If you have experience participating in DeFi on Ethereum, these projects will be very easy to get started. And compared to Ethereum, the transaction fee on it is outrageously low.
For example, when writing this article, I initiated a transaction on uniswap, and the handling fee was $17.58, which is almost 100 yuan.
On PancakeSwap, a transaction of issuing coins is 0.002163BNB. According to the price of 1BNB=250 US dollars, the gas fee is 0.54 US dollars, which is not a bit cheaper than Ethereum's 17.58 US dollars.
farming
The favorite activity of DeFi farmers is farming. On BSC, the most fertile fields are on PancakeSwap. Currently, there are 67 farmlands that can be farmed on PancakeSwap. Most of the farmland needs to use BNB as hoes, which is why BNB has risen so high, and no one is against the market: hoes are expensive, and farmers are reluctant to sell them.
If you don't want to bear the risk of impermanent loss, you can choose single-currency pool mining. Currently, there are 16 pools that PancakeSwap can mine. The highest yield is CAKE Pool, with an astonishing APR of 503.74%!
Participate in IFO
IFO (Initial Farm Offerings), which means the first farm offering in Chinese, is a major innovation of BSC on PancakeSwap. The method of participation is to provide CAKE+BNB liquidity on the Pancakeswap platform, and submit LP at the designated place on Pancakeswap after the subscription starts.
On January 13, PancakeSwap Khaki launched its first IFO project, and a total of 6 orders have been completed so far. The most recent order was Berry, which was oversubscribed by 187 times, and the subscription price was $0.50. After the market opened, it went straight to $6. All subscribers were rewarded handsomely. The current price of Berry is 20 knives, which is nearly 40 times higher than the issue price.
Participate in the machine gun pool
borrow money
As a classic machine gun pool of the Ethereum system, YFI is now bleak. And the newly emerging autofarm on BSC is gaining momentum.
Currently, autofarm has USD 1.3 billion locked up, while YFI has only USD 700 million. In addition to locking up funds to crush YFI, autofarm’s income is also very good, with the highest APY reaching an astonishing 2000 times! If you have BNB, USDT, BTC, ETH, DOT, LINK and other assets on hand, and you are not in a hurry to sell them, you may wish to participate in autofarm.
Autofarm fights for scale effect and income. Autofarm is not the son of Binance. It can stand out mainly because of the pull of xvs and cake, the sons of Binance. Of course, the micro-innovation of autofarm’s product design is just right, the tokens have increased rapidly (from the low point to the present, the increase has exceeded 420 times!), and the user experience has great advantages. It is easy to use, the details are in place, and there are many choices.
borrow money
Venus is the largest lending project on BSC. Currently, the locked funds rank first in BSC, with a value of 4 billion US dollars, and the scale has surpassed the AAVE V1 of the Ethereum system. Currently, the APY of depositing stablecoins such as USDC in Venus is 15%-20% (is it much higher than the interest rate of deposit banks?)
As the only minted stablecoin project supported by Binance’s own BSC chain, Venus has a monopoly of lending + order book + derivatives dex. The current market value is less than 800 million U.S. dollars, compared with AAVE’s market value of 5.2 billion U.S. dollars and UNI’s market value of 61 Billion dollars, there is still a lot of room for growth.
BSC tokens are going crazy, can I still buy them?
No one is willing to buy a currency that does not pull the market, even if it is a value currency. However, the coins that pull the market, especially the BSC series tokens, have risen very fiercely. If you buy them, you will worry about standing on the hills.
At this time, you need to establish a set of value evaluation system.
For example, BNB has now risen to $250. Is it a bubble? Yes and no.
The reason is that BNB has a market value of 40 billion U.S. dollars, which is almost catching up with China's highest market capitalization broker CITIC Securities (370 billion yuan). As the most compliant exchange in the currency circle, Coinbase's valuation is only 80 billion US dollars.
The reason for this is that BNB, as the exchange with the largest trading volume and the strongest execution in the currency circle (it resisted DeFi a little last year, and quickly became the most ferocious force in the DeFi market this year), can withstand the market premium. Moreover, the value of BNB comes not only from the transaction fees of the Binance Exchange, but also from the DeFi applications on BSC, which is something that Coinbase cannot do. If you think about it this way, it is not surprising that the market value of BNB is equal to the valuation of coinbase.
For another example, CAKE has risen sharply, with an increase of more than 20 times since the beginning of the year. Can I still buy it?
To evaluate the value of DEX, indicators such as full-circulation market value/locked-up volume, full-circulation market value/24-hour trading volume, and full-circulation market value/handling fee income can be used. Usually, the lower the value of these indicators, the more undervalued the project is.
Here we choose the first two indicators. It can be seen that in terms of indicators such as full circulation market value/locked volume, UNI, SUSHI, and CAKE are 16.92, 9.81, and 1.25 respectively. In terms of full circulation market value/24-hour trading volume, the three are 0.35, 0.27, and 0.04 respectively.
