DeFi Recap

This week BSC DeFi’s total value locked(TVL) reached $58.2 billion.
Among them, CREAM has $13.26 billion ranking the first, Venus $11.65 Billion is the second, PancakeSwap $9.78 Billion the third, Pancake Bunny $7.08 the fourth, Ellipsis $3.91 Billion is the fifth.

Trend of the week

The best-performed BSC Tokens this week are:
BNX(1253.09%),LASAGNA(1062.84%),TACO(435.73%),TUNA(302.49%,RAMEN(286.24%)

Farm of the Week

Venus
app.venus.io/dashboard

The Venus Protocol is a decentralized lending market Protocol, and Venus will also mint a decentralized stablecoin VAI, backed by a basket of BEP-20 tokens. It can be seen as a hybrid of a MakerDAO and a Compound.
At present, if user deposit in Venus, they can earn the double income of interest income and platform token XVS farming income, and farm XVS from lending feature.
We take BNB as example, introduce farming process：

Visit Venus, connect wallet
Click BNB market under Supply Market, set the amount of BNB, authorize the transaction, deposit BNB。
Once deposit successfully, earn the double income of BNB and XVS. (Supply APY represents the annualized interest on deposited token and the Distribution APY represents the annualized return on farming XVS. The combined annualized yield is currently about 10–11%)

3. After deposit successfully, stake BNB, mint VAI, stake VAI to farm more XVS.

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

Conservative Farmer

Value DeFi — BAC-BUSD farming, APY 129 %
bsc.valuedefi.io/
Value DeFi is a farming aggregator on BSC, which recently supports cross-chain farming with Basis Cash. Because BAC is an algorithmic stablecoin, BAC-BUSD has low LP permanent loss and can enjoy the advantage of low BSC fees.
Farming steps:
1. Prepare BUSD and BAC tokens via vSwap of ValueDeFi
bsc.valuedefi.io/#/vswap
2. Visit vFarm and click into the BAC/BUSD pool to add liquidity to BAC/BUSD
bsc.valuedefi.io/#/vfarm

3. Stake BAC-BUSD LP Token on vFarm to start farming VBSwap

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

Plow of the Week

Paraswap is an DEX aggregator on Ethereum that can provide better transaction routing so that users can get the best swap rate. It has launched BSC version now:
paraswap.io/#/?network=bsc

Conclusion

This week, the TVL on BSC broke record again, getting close to Ethereum TVL; for a single transaction fee, it raised and maintains at around US$0.5, which is very friendly for ordinary users. The number of active addresses is exponentially higher than the Ethereum ecosystem.