BSC Farmer Weekly Newsletter #1

BSC Farmer Weekly focuses on the introduction and data collection of mining projects in BSC ecosystem, follow us in Twitter and Medium for the first-hands news on BSC projects.

DeFi Recap

This week BSC DeFi’s total value locked(TVL) hit an all-time high of $11.7 billion, making it the second largest DeFi ecosystem behind Ethereum’s $52.1 billion.

The total number of BSC projects reached 268.

Among them, Pancakeswap (3.85 billion) and Venus (2.93 billion) ranked first and second. Alpaca Finance’s $2.01 billion TVL surpassed Autofarm’s $1.13 billion to take third place.

Farm of the Week

Alpaca Finance’s Alpaca is definitely one of the BSC’s hottest events this week, with a TVL of more than $2 billion, surpassing Autofarm.
The Meerkat scandal happened last week, it should be noted that Meerkat and Alpaca are two separate projects, because Alpaca Finance’s smart contract has timelock, while Meerkat does not.

Alpaca Finance is essentially a loan agreement, so you can participate as either Lender or Farmer.
As a Lender, it currently supports BNB and BUSD, and if user hold these two tokens they can earn ibWBNB and ibBUSD through staking.

BSC farmers generally pay more attention to stake income, and gain double farming income through staking ibWBNB or ibBUSD. At present, Alpaca Finance has three pools to participate in.

Among them, the revenue of Alpaca-wBNB is as high as 11390%. Of course, it belongs to the second pools with high fluctuations, which is more suitable for farmers with high risk tolerance.
ibWBNB and ibBUSD pools are much more stable, with annualized rates between 300% to 400%.

Participate through the Alpaca website in the following steps:

1. Go to app.alpacafinance.org/ and connect BSC wallet

2. Click on the Earn menu, select the pool you want to participate in, such as BNB, click on Deposit, enter the number of BNB

3. After depositing, you will see the corresponding number of ibWBNB.

4. Then enter the Stake menu, enter the amount after Approve and click Stake

5. You can get Alpaca award, and you can unstake interest-bearing assets like ibWBNB at any time, and withdraw in BNB, and get double income of Alpaca + BNB.

Reminder: Do your research before any investment, farm responsibly, and never farm with money you can’t afford to lose.

Conservative Farmer

If you want to choose a more conservative farming method, BSC node staking is a safer farming choice. By staking BNB on the BSC chain to participate in the selection of BSC nodes, you can get a stable annual income of 30–40%.

The specific node details can be found on this website:

www.binance.org/en/staking

BNB Staking is now supported by Binance Chain wallet, Trust Wallet and MathWallet, details can be found at:

Binance Chain Wallet

binance-wallet.gitbook.io/binance-chain-extension-wallet/binance-chain-staking/staking

TrustWallet:

community.trustwallet.com/t/bnb-staking-with-trust-wallet/113243

MathWallet:

blog.mathwallet.org/?p=2054

Note: This is done in the Binance Chain wallet, not the BSC wallet. Be careful not to transfer BNB to the wrong wallet.

Reminder: Do your research before any investment, farm responsibly, and never farm with money you can’t afford to lose.

Plow of the Week

There is Dex.tools. on Ethereum, and now there is a similar tool on BSC: BSC.tools, which can help users quickly query the transaction data of DEX in BSC ecosystem: bsc.tools/

Conclusion

The user interface and BSC’s low-cost transactions will give first-time DeFi users a friendly place to experiment and interact with the DeFi ecosystems at a relatively low cost (trades on PancakeSwap are $0.15 compared to around $50 on Uniswap). And that will be a good thing.
Allowing first-time DeFi users to experience what it’s like to make non-custodial trades and take out loans on their assets will be a net positive for the advancement of the DeFi movement.

For more information, please visit: bscproject.org.

Source : bscproject.medium.com

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