Beyond Pancakeswap, several other projects are innovating, fighting to make access to DeFi on the BSC Blockchain more accessible while also focusing on security.
💡To evaluate the security of a project in general, we refer to the TVL (Total Value Locked), it is a very reliable indicator of the adoption and security of a protocol. A high TVL means a Trust >>> as well.
In the previous content, we designated PancakeSwap as the best DeFi project on the BSC. Let's delve into this fact together.
➡️Current TVL of @PancakeSwap : Approximately 1.7 billion dollars✅ they remain an unbreachable fortress with their multiple Audits in addition to the strong liquidity they have, which minimizes the risks of manipulation.
Secondly, let's talk about @VenusProtocol ; this standard relies on lending and borrowing mechanisms to occupy the second place just behind PancakeSwap on the BSC.
➡️With a TVL of about 1.6 billion dollars, and equipped with a Stablecoin and a governance token $XVS
, users can vote for decision-making regarding important project updates.
💡Although PancakeSwap is the darling of the BSC, Venus protocol is not left behind with its integration into #BinanceEarn and a partnership with @TrustWallet , it has proven itself since its birth in November 2020 to be the pillar in the lending and borrowing category on the BSC.
Never two without three, as they say…@ListaDAO ( $LISTA
)is our next one on this list. Born in 2022 when the Bear market was brutal, it has well earned this place with its rapid growth and a TVL of around 1.2 billion dollars, Lista DAO is developing a Liquid staking and borrowing solution.
💡Liquid staking, to make it short, is the fact of staking these assets without immobilizing them, they can be used elsewhere for borrowing, trading, or farming…
So users can stake their BNB via Lista DAO and receive in exchange slisBNB which can be used elsewhere for the aforementioned purposes.
To conclude this exhaustive list, let's shine a light on @Beefy ($BIFI
). Born in September 2020 just like PancakeSwap, it has diversified onto other networks as well. This protocol is strategically designed for high yields without making great efforts, it's a Yield Optimizer.
➡️With a TVL of 271 to 300 million dollars, this protocol exploits more than 680 different pools generating an average APY of about 43%.
💡It operates by automatically and intelligently optimizing yields, without manual intervention. If a pool offers an APY of 15% today and another offers 20% tomorrow, the protocol automatically shifts assets between the best pools to optimize yields.
Moreover, its governance token offers rights to the protocol's revenue such as the fees generated by the protocol and overall income.
⛔DISCLAIMER: Remember that using DEXs has drawbacks in terms of security. Let me explain, a protocol can be well secured but if you interact with a malicious contract, you risk losing your funds and also infecting your wallet, so be sure to check the contracts before any interaction.