DeFi Recap
This week BSC DeFi’s total value locked(TVL) reached $25.6 billion.
Among them, PancakeSwap has $10.59 billion ranking the first, Venus $3.51 Billion is the second, Alpaca Finance $1.45 Billion the third, MDEX $1.13 the fourth, Ellipsis $1.05 Billion is the fifth.
Trend of the week
The best-performed BSC Tokens this week are:
FOR_BEP20(176.06%),7UP(86.28%),CRP(73.88%),TWT_BEP20(66.74%),BELT(61.24%)
Farm of the Week
Tranchess
Tranchess, a tokenized asset management and derivatives trading protocol that satisfy users’ varying risk appetites, went live on BSC on June 25. Investors include Three Arrows Capital, Spartan Group, Binance Labs, Binance Labs, LongHash Ventures, IMO Ventures and other institutions, as well as individual investors.
Tranchess names its four tokens on the basis of chess, which are QUEEN(The main fund), BISHOP(sub-fund), ROOK(sub-fund) and its governance token CHESS.
How to get these four tokens and profit from them:
Queen
The investment target of QUEEN is BTCB (Bitcoin Anchored product on BSC), so Queen is just like an index fund tracking the BTCB. Holding QUEEN is equivalent to holding BTC, and the current APY is 58.8%.
Procedure:
Swap BTCB for Queen, then stake Queen to mine CHESS
Swap USDC for Queen on Tranchess Swap.
BISHOP
BISHOP is a sub-fund of the main fund. BISHOP token holders provide liquidity to ROOK holders and earn a stable interest income on a daily basis. The income is not affected by market volatility.
Procedure:
Splitting QUEEN proportionally to get BISHOP. Then Stake it to mine Chess tokens, and the current APY is 82%.
Swap USDC for BISHOP on Tranchess Swap, and the current APY is 144.4%.
ROOK
ROOK is the other half of the splitted main tranche. ROOK holder borrows daily from BISHOP holder to buy the main fund that tracks BTC. At present, one QUEEN can be split into 0.5 BISHOP and 0.5 ROOK, the leverage is 2x, so holding ROOK means 2X Long with BTC.
Procedure:
Splitting QUEEN proportionally to get ROOK. Then Stake it to mine CHESS tokens, and the current APY is 23.1%.
Swap USDC for ROOK on Tranchess Swap
CHESS
CHESS is the governance token. Users can earn the mining revenue of CHESS token by staking BTCB for Queen, or swapping QUEEN/BISHOP/ROOK token, or staking QUEEN/BISHOP/ROOK/CHESS token.
To participate in Governance, one needs to lock their CHESS token to gain veChess as voting power. Participating in Governance can also reward CHESS token.
Reminder: Do your research before any investment, farm responsibly, and never farm with money you can’t afford to lose.
NFT Project Introduction
CryptoZoon
CryptoZoon is a complete platform of Digital Pet Universe live on BSC. Pets are divided into 6 levels according to experience points. The higher the experience points, the higher the payoff per battle. Pets also have 6 rarity levels (R1-R6). The rarer the pet, the more rounds they can fight per 4 hours. Players can fight with pets, trade pets and pet eggs, upgrade pets and attend training, as well as stake pets to get profit.
How to play:
Prepare ZOON tokens and exchange ZOON tokens for pets. There are two ways:
Buy pet eggs by ZOON tokens, and open eggs to get pets. This step is like opening a blind box.
2. Buy pets by ZOON tokens in the marketplace
- Win ZOON tokens by playing pet battles.
Choose a pet and participate in the battle. In each battle, the system will match the opponents with different levels, the reward of winning varies depending on the winning rate of the opponent.
Plow of the Week
Defined
Defined is a data platform for the open web that empowers users to query on-chain data and interact across multiple blockchains and DeFi protocols.
Conclusion
Binance Smart Chain (BSC) continues to launch the Most Valuable Builder Program III (MVB III). MVB Monthly stars will be selected from the finalists in August, September and October, and the top MVB projects will be selected in November.
The program will also focus on the areas of high performance infrastructure, NFT and GameFi, and Advanced DeFi etc., the selected project may receive up to $10,000 from Binance.com as well as direct investment and listing opportunities from Binance.com.
Details can be found: www.binance.org/en/blog/the-most-valuable-builder-iii/
Source : bscproject.medium
