Recently, with the help of the ecological progress of Binance Smart Chain (hereinafter referred to as BSC), the price of BNB once rose to 39.8 US dollars, breaking a record high.
Just 3 months ago, we were still discussing that the Binance contract had surpassed the global contract hegemon BitMEX in just one year. At that time, the BSC mainnet was only launched a few days ago.
In a blink of an eye, Binance quickly submitted a new report card to the entire industry-the BSC ecological potential broke out, and the next "100 billion" market: the Internet of Value, Binance once again led the industry .
01
BSC ecological explosion: from 0 to N
DeFi has exploded in an all-round way this year, and Binance, as the industry's number one player, is bound to participate. Almost everyone knows this. Unexpectedly, the ecological development of BSC is so fast!
In just over three months, for most projects, it should have been from 0 to 1, but BSC skipped this stage and went directly from 0 to N, the sea of stars ahead.
1. Speak with data
As of December 28, the statistics of BSC when it went online 119 days show:
Nearly 600,000 active addresses on the chain
The highest daily transaction volume exceeds 473,000, reaching nearly 40% of Ethereum
The average gas fee per transaction is as low as $0.07, which is 2.7% of the Ethereum gas fee
At present, more than 40 high-quality projects of BSC have been migrated or issued to BSC
Tokens worth more than 400 million U.S. dollars are used in various ecosystems including DeFi
2. Boundless fish ponds to raise "big fish"
The value of a public chain largely depends on the ecology, which is well reflected in the number of ecological projects and the richness of the types, and the better the development of high-quality ecological projects, the more robust the value of the public chain platform. more.
It can be summed up very well in this sentence: "Boundless pond, raise big fish". Only a large pond with no margins can breed super-large fish. Only BSC is open enough and no margins to provide soil suitable for the development of super ecological projects. Binance has indeed done a lot in this regard.
At present, most of the projects developed based on BSC are DeFi projects with novel businesses. Project types include but are not limited to: AMM, NFT, data analysis, cross-chain exchange, games, etc., among which some high-quality innovative projects have begun to emerge.
PancakeSwap, BSC's active project on the chain, has more than 100 million U.S. dollars in liquidity on the chain two months ago. As of the deadline, the app initiates 50,000+ transactions per day, with a daily transaction volume of between 25 million U.S. dollars and a cumulative transaction volume of 1 billion U.S. dollars, bringing about 80,000 U.S. dollars in commission income to liquid miners every day.
The industry pays more attention to and is supported by Compound as a security and technical consultant. The Cream project was quickly deployed on the chain shortly after the BSC was released. The interoperability and other enhanced functions provided by BSC can bring more to original users. Performance, lower cost products, and promote their own rapid growth.
At the same time, projects such as Burger, Drugs, Fortube, and Fry.world have been deployed successively, bringing a wealth of choices to BSC users.
As the first domestic brand that focuses on artistic creation and new culture research and development in the field of blockchain and cryptocurrency, BCA Blockchain Art has also launched BSC. Realy also uses BSC to realize new ways of putting physical assets on the chain, and combines IP such as Star Wars, and The joint product of Huachenyu will be launched soon, and BSC will be out of the circle completely.
Whether a public chain ecology is a wave or sustainable development often depends on ecological diversity. Because of the rich ecological projects, not only can they directly cooperate with each other through "composability", and meet the needs of ecological users to create more diversified.
At the same time, the old and new ecological projects can influence each other and enter a virtuous circle. BSC's ecological project diversity has begun to take shape, including liquid mining swap, wallet, NFT, oracle, decentralized identity, payment, etc.
3. The application development team highly recognizes BSC
The development of BSC is inseparable from the joining support of the ecological project party. It coincides with the Christmas event held by BSC, inviting the main leaders of the popular BSC projects Dego, Alpaca City, BCA, BakerySwap and Bounce.
The five projects belong to several different DeFi projects including NFT one-stop agreement, virtual games, artistic creation brands in the blockchain field, AMM+NFT decentralized trading platform, and decentralized auction protocol.
While they brought everyone NFT airdrop benefits, they also shared the main reasons why they would choose Binance Chain. Five guests said:
BSC has high performance and low cost, and is user-friendly;
Backed by Binance’s resources and traffic, BSC can bring a considerable amount of users to the project;
There are many high-quality projects on BSC, which can realize benign interaction.
There are various signs that the ecology of BSC has quickly completed the process of cold start from 0 to 1, and is moving further and further in the direction of long-term sustainable development.
02
On what basis does BSC lead?
Many people would think that the reason for the rapid growth of BSC is due to the “dongfeng” of DeFi, but it is far more than that.
Although it is said that "times make heroes", under the same good times, most people cannot become heroes. A true hero must not only take advantage of the situation, but he must also be a "manufacturable material", with the awareness of making preparations in advance, and a plan ahead.
1. All in DeFi: Why is the centralized trading platform about to withdraw from the stage of history?
From the main ecological projects in BSC and Binance's main focus on the support of DeFi applications, it is not difficult to find that BSC refers to DeFi. It can be said that it is clearly positioned and fully serves DeFi, even All in DeFi.
Binance founder CZ published an article on CoinDesk at the end of October, "All in DeFi: Why the Centralized Trading Platform Is About to Withdraw from the Stage of History", which explains why as the number one centralized platform, he wants to try All in DeFi .
Earlier, CZ said in a community AMA: The goal of BSC is not to maintain market share, the most important thing is to make products that people will use.
He regards the centralized trading platform as a transition product, because the centralized trading platform may be smaller than the DeFi trading platform in five years, so Binance has invested heavily in the DeFi field.
Judging from a series of actions taken by Binance in recent years, whether it is DApp, games, NFT, cross-chain and other concepts, Binance's forward-looking layout is leading the industry.
It can be seen that Binance’s decision-makers have always been precise and unique in grasping the development trends of the industry. Perhaps this is also an important reason why Binance is able to excel in many segments.
2. The technical strength of the Binance team and the support of community developers
The reason why the Binance team has gained international recognition, in addition to its precise layout, has to be mentioned its technical strength and the support of community developers.
According to reports, Binance has a professional technical team supporting the performance, security, stability and scalability of its platform system. On the premise that hundreds of thousands of users visit every day, a smooth and efficient login and experience are guaranteed.
Whether it is in terms of security, traffic and other considerations, it is quite from the center and to the center of several dimensions, similar companies within the standard safety technologies currency reserves far exceeding the industry , the BSC to promote development, a large part of the community safe from currency Developer's contribution.
Binance has always attached great importance to community building. As early as 2017, the Binance community was jointly established by many BNB holders and Binance users, attracting many crypto enthusiasts from various fields to join.
Some of the subsequent Binance products, including Binance Chain, BSC, and on-chain ecological projects, are made by community developers. It is also the technical background and the support of community developers that enabled BSC to be launched quickly in September with quality and quantity, far exceeding its peers.
3. Ecological acceleration plan
Binance has invested a lot in the DeFi field, and you can get a glimpse of it from BSC's ecological acceleration plan for DeFi applications.
BSC’s ecological acceleration plan aims at accelerating the construction of a decentralized financial system, supports high-quality and potential decentralized applications, and provides infrastructure construction guidance, liquidity support, technology development rewards, strategic investment and priority listings Wait for all-round acceleration.
The ecological acceleration plan invested 100 million US dollars of funds:
a. Seed funds
So far, three batches (15 in total) of “seed funds” for outstanding projects have been self-helped. Projects that apply for seed fund support can not only receive financial support, but also receive support from derivative resources such as business development opportunities, marketing support, public relations, recruitment, and peer support provided by Binance. As a CeFi leader, it has the resource advantage. It goes without saying.
b. BUIDL reward plan and liquidity support
In addition to direct support for high-quality projects, Binance also provides additional incentives to encourage the development of a decentralized ecosystem. By rewarding 30% of the gas fee, projects that are active in the BSC ecosystem have more profit. space.
At the same time, it also injects liquidity support for the initial development of the project, and increases the amount of Token lock-up and liquidity.
4. "Open and boundless" canal plan
Nowadays, the cross-chain solution is relatively mature. It has been used as a standard configuration of an open ecological public chain. Binance has launched the "Token Canal Project" . More encrypted assets are introduced to Binance Chain and BSC. The basic technical facilities guarantee the conversion between original tokens.
There are multiple sub-projects under the "Canal Project", one of which is called "Bin'an Bridge" (formerly known as "Panama Project"). Binance Bridge realizes different network assets by using the mapping of different currencies on BSC.
The Canal Project will not only introduce other encrypted assets to Binance Chain and BSC, but also open up assets and high-quality applications on Binance Chain and BSC projects to most ecological users including Ethereum and TRON.
At the same time, the borderless ecology formed in conjunction with the ecological acceleration plan will also attract more developers from other public chain ecology to participate and build together for a win-win situation.
To sum up, from the various layouts of Binance, the two keywords we see: All in and open, represent Binance's determination to the DeFi ecosystem and to plan ahead for the future of Wanlian interoperability.
We have seen too many public chains. It seems simple, but it is difficult to do well. It is necessary to have both ecology and technology research and development, as well as the accumulation of funds and various resources. As a centralized trading platform, it is not easy to maintain an open mind and build DeFi and decentralized infrastructure.
Thanks to Binance's sufficient preparation and DeFi's strong wind, Binance successfully launched BSC, so we have seen its ecological explosion and absolute leadership.
03The
next "100 billion" market: Value Internet
Starting with the Binance Chain, which uses mature cross-chain solutions, Binance has already taken the next step.
The Internet of Value has always been the super mission of the blockchain, and the multi-chain DeFi ecosystem that Binance is advancing is the most basic prototype of the Internet of Value.
With the development and evolution of the ecosystem, Binance Chain and BSC will be interconnected with most blockchains in the future, and the BSC DeFi ecosystem supported by advantageous resources will gradually become a center of value interconnection.
If the path from solving the Internet of information islands to the cross-chain "Internet of Value" solving value islands is correct, then many ecosystems will inevitably be linked together in the future.
Many small ecology involuntarily revolve around the big ecology, and the biggest beneficiary is this center of value interconnection, just as the ecologically prosperous metropolis often becomes a "transportation hub" city.
It maintains a strong attraction to developers and users in other ecosystems, while also being able to capture greater value. Resources such as land and housing prices are often the highest.
Of course, Rome was not built in a day, and the Internet of Value cannot be achieved in one step.
Binance is currently bringing the advantages of CeFi to DeFi. In addition to BSC, Binance has recently invested US$10 million to support the Polkadot ecosystem and US$12 million to support Maizi Wallet.
Just like the prediction of the future mentioned in the CZ article:
CeFi participants will further reduce the barriers to entry for DeFi and DeFi-like projects, enabling the user base to show the advantages of DeFi while maintaining the liquidity, security and stability that CeFi provides and users are used to.
Once the concept project has been verified in the market and the DeFi model has been proven successful, market demand will follow.
04
Summary
The future has come, and the centralized trading platform knows that it is impossible for it to be alone, so it will let go of its hands and feet to make early arrangements to determine the victory of the next five-year "100 billion-level" market.
Yesterday, Binance allowed decentralized encrypted assets to be exchanged and traded through a centralized trading platform; today, Binance Chain and BSC are building an open DeFi ecosystem, and Binance has become the infrastructure builder of the decentralized future.
Tomorrow, BSC will become a platform for the interconnection and value transmission of major DeFi ecosystems, and Binance will bring a healthy ecosystem of creation, sharing, and win-win.
Are you optimistic about the development of centralized trading platforms? Welcome to write down your opinion in the message area.
Previous post: A summary of the 2020 "DeFi Carnival", where is the new direction for the next year?
▎Recommended reading
——End——
"Disclaimer: This article is the author's independent point of view, and does not represent the vernacular blockchain position. This content is only for the popular science learning and exchanges of encryption enthusiasts, and does not constitute investment opinions or suggestions. Please treat it rationally, establish a correct concept, and increase risk awareness. The copyright of the article and the final interpretation right belong to the vernacular blockchain. 』
Dear, it is said that 99.9% of interesting people have ordered "Watching"????