BSC Farmer Weekly Newsletter#9

DeFi Recap

This week BSC DeFi’s total value locked(TVL) hit an all-time high of $37.587 billion.

Among them, PancakeSwap has $9.64 billion ranking the first, Venus $8.74 Billion is the second, Pancake Bunny $6.96 Billion the third, Ellipsis $2.45 the fourth, MDEX $2.26 Billion is the fifth.

Trend of the week

BSC total projects number is 522 now.

The best-performed BSC Tokens this week are: ALPACA(654.57%), BRICK(170.38%), HYFI(57.42%), CROW(55.50%), SLIME(54.45%)

BscProject released new feature, user could check BSC transaction’s Average Gas Fee anytime.

The algorithm is:

Total Gas Used / 24H Txn * Average Gas Price * BNB Price

Farm of the Week

Beefy.Finance

app.beefy.finance/

Beefy.Finance is the Yield Farming Optimizer on BSC. Roughly explained as “obtain the maximum profit through optimization of technical data analysis”, therefore Beefy.Finance is called Yearn.finance (YFI) on BSC.

Beefy.Finance is also very simple to use, and its powerful compound function allows users don’t need to proceed more operation after the one-time investment. The system will automatically issue compound interest at regular intervals, which is very suitable for lazy users to invest!

On Beefy.Finance, the smart pools are divided into 3 types, namely Single Assets, Stable LPs and Stables.

The steps are:

(Take CAKE single-token farming as an example)

Click on the vault type and select Single Assets

2. Find the CAKE single-token farming pool, set the number of CAKE for farming, approve the transaction, and start farming.

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

Conservative Farmer

Smoothy Finance

smoothy.finance

Smoothy is a DeFi protocol based on stablecoins. It has officially listed SMTY token recently and enabled farming.

Here we mainly introduce the case of syUSD Pool for farming. Since it is a stablecoin farming, there is no need to consider the risk of impermanent losses. The current APR is 100%+.

The steps are:

Visit Smoothy Finance, connect wallet, set the number of stablecoins such as BUSD/USDT/USDC/DAI to deposit, approve the transaction, and exchange syUSD.

smoothy.finance/#/mint

2. Visit smoothy.finance/#/farm, approve to stake syUSD, then start farming SMTY.

3. Stake SMTY from previous farming, it will increases your voting power in order to farm SMTY efficiently.

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

DeFi Governance

The Bunny community held a follow-up vote on Beefy’s upgraded contract which caused the lock-up of Bunny vault. As a result, more than 67% voted to support the regeneration of the corresponding number of BUNNY tokens that were destroyed.
vote.pancakebunny.finance/#/pancakebunny.eth/proposal/QmQbJpR3QNdNGSYzwvoZnt4MJtpiY6T1wAjVLMu4b3RGAd

Plow of the Week

The StreamingFast team used their service to develop the Pancake info website. According to the data on their website, after using their parallel technology, data synchronization speeds up 57 times, so that the info station can catch up with the latest BSC block, see details:
pancakeswap.streamingfast.io/

Conclusion

This week, the TVL on BSC broke record again, reaching over US$37.5 billion, and the number of active addresses and transactions ranked the first among all public chains. For a single transaction fee, it maintains at around US$0.4, which is very friendly for ordinary users.

For more information, please visit: bscproject.org.

Happy farming!

Source : bscproject.medium

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