DeFi Recap
This week BSC DeFi’s total value locked(TVL) went up steadily and hit an all-time high of $16.6 billion, a drop came with the market fluctuation.
Among them, with $5.72 billion, Venus surpassed Pancake’s $4.26 billion. Belt Finance ranked third with $1.77 billion, Autofarm fourth with $1.21 billion, and Ellipsis fifth with $682 million.
Among all BSC projects， the best-performed tokens this week were:
EPS (Ellipsis) 101.34%, CAKE 34.59%, ALPA (Alpaca City) 29%, WSOTE(Soteria) 12%
Highlight of this week
The trend of Ethereum projects’ migration to BSC continues, well-known projects this week including SakeSwap, Matcha, bZx, and others.
BSCProject has been updated with three major features:
1. We will add the label “NEW” to the recent listed DApp, which is convenient and fast for users to find new DApp online
2. You can check the token price fluctuations in the last 7 days, so that you can quickly understand the change in token market
3. You can directly click “Trade” on the Token Details page and jump directly to the corresponding transaction interface. You can connect to MetaMask or MathWallet to complete quick transaction
BSCProject released the second edition of the BSC Ecosystem Map in March (the number of new projects grows very fast). The total number of BSC projects has now exceeded 370.
Farm of the Week
Ellipsis
ellipsis.finance/Ellipsis is simply the Curve Fork version of BSC, which has a minimum 176% annual rate and has a TVL of over $600 million at the moment.
The Curve project tweeted that Ellipsis is its authorized fork project, and Ellipsis will make ESP airdrops to users with veCRV tokens.
The steps of farming:
First have some stablecoin BUSD/USDT/USDC
1. Visit Ellipsis 3pool page at ellipsis.finance/3pool/
2. Connect wallet
3. Then enter the number of stablecoins and click Deposit, then start farming by signing the transaction and receive 3Pool LP Token.
4. Stake 3Pool LP Token, receive current APR of 176 %；
5. Stake 3Pool LP Token to receive EPS，stake and lockup EPS，receive current APR of 4540.05% in EPS + 63.95% in BUSD
If you don’t have stablecoin, you can also provide BNB-EPS liquidity in Pancake to get EPS/BNB LP tokens, and stake EPS/BNB LP tokens with a current annualized return of 6031.95%.
Reminder: Do your research before any investment, farm responsibly, and never farm with money you can’t afford to lose.
Conservative Farmer
Autofarm
autofarm.network/Autofarm is the largest financial aggregator on BSC, and currently stablecoin has annualized return of 30%+.
Participating in BUSD, USDT and USDC farming on Autofarm can receive stable and low risk income.
The steps of farming:
1. Visit autofarm.network/
2. Connect wallet
3. Select BUSD Vault, click “Deposit”, sign the transaction, and start farming to obtain the double income of BUSD and AUTO.
The current annualized revenue is: comprehensive annualized return 32.7% (BUSD APR 8.6%, AUTO APR 24.1%)
Reminder: Do your research before any investment, farm responsibly, and never farm with money you can’t afford to lose.
Plow of the Week
Bscscan Token Approval checker
bscscan.com/tokenapprovalcheckerBscscan Token Approval checker is developed by BscScan, it is an account authorization query tool that can be used to view and revoke your token authorization to any dApp.
Conclusion
From the Ellipsis project explosion this week, we can see that the DeFi projects are migrating to BSC in a large scale. We are looking forward to see more DeFi innovations happen on BSC!
More BSC projects, Please visit bscproject.org
Happy Farming！
Source : bscproject.medium
