The platform has seen exponential growth over the last month, attributable to the slew of benefits users can obtain through staking and an excellent Affiliate program.
BNBFactor is a yield farming protocol that seeks to take advantage of the Proof of Stake (PoS) capabilities of Binance Smart Chain (BSC). The platform focuses on their unique staking strategies that benefit users, taking advantage of the leveragability of their host blockchain.
Users can choose from a variety of staking plans, each with their own benefits and sets of guidelines concerning returns and staking periods.
The Staking Plans
Each staking plan on BNBFactor consists of a certain number of days the user will stake their BNB, along with corresponding rewards. Users can directly earn BNB with BNB with no need to exchange for any other tokens.
Users receive larger returns for choosing a short staking period, with the percentage gradually dropping as the period extends. Users can also choose an indefinite period which has the lowest returns but the highest flexibility in terms of withdrawing their rewards.
The Annual Percentage Returns (APRs) are set in their smart contract, meaning the amounts will never change.
BNBFactor has a 5-level Affiliate program that rewards users for introducing new users to the platform. This program is similar to a chain: users are rewarded by bringing in a new user, and then are rewarded further by all referrals that stem from that initial invite.
Level 1: Initial invitee deposit reward: 7%
Level 2: User invited by Level 1: 3%
Level 3: User invited by Level 2: 1.5%
Level 4: User invited by Level 3: 1%
Level 5: User invited by Level 4: 0.5%
There are also plans for a proprietary Decentralized Finance (DeFi) platform and token, which will serve to mitigate user risk and reliance on BNB as the major token. This rewards system ensures a sustainable loop of growth and rewards – users are incentivized to share the platform, which will then compound into further benefits through the Affiliate program.
Over the last month, BNBFactor has seen a successful pattern of growth. Their contract address analytics on BSCScan show that they have gone from under 10 total BNB being sent/received on the platform per day to over 600 BNB being exchanged in a single day. This has increased the balance of BNB on the platform tremendously.
This growth can be attributed to the rewards achievable through staking – their compounding affiliate referral program offers a great deal of benefit to users as well, increasing the potential demand of the platform.
BNBFactor leverages the popularity of BSC and its native token in creating an incentive-laden staking opportunity for crypto users. Their plans to branch out into a full DeFi ecosystem with an individual token in the future provides a solid roadmap for growth. The strength of their Affiliate program encourages community participation in helping the platform achieve a larger user base, and will help to increase the valuation of their eventual token upon release.
To learn more about BNBFactor, visit the following links:
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
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Source : bsc.news
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