As of 2020, Binance launched its Binance Smart Chain, a significant move for budding developers. A mix of innovation, programmability, and interoperability, Binance has leveraged the issues encountered by Ethereum and has monetized it primarily, both for the users and owners.
Let’s dive into the top 5 Binance Smart Chain projects with high ROI, which can prove beneficial and give us massive returns.
Top 5 Binance Smart Chain Projects with high ROI
Pancakeswap is a decentralized exchange (DEX) built on Binance Smart Chain and the first one in our list of top 5 Binance smart chain projects. It enables users to swap between cryptocurrency assets by tapping into user-generated liquidity pools.
It is a safe investment option as it uses AMM – Automated Market maker meaning. There is no order book where you are matched with someone else, which is opposed to the traditional exchanges such as Binance itself. Pancakeswap lists off delisting tokens when it feels they are fishy, i.e., suspect an issue in them.
How to financially Benefit from PancakeSwap
Approach 1 – Become LP (Liquidity Provider)
To start, it’s a lot like farming.
You can earn $Cake by becoming a liquidity provider and staking your LP tokens on the farm. For this, you will have to add equal amounts of 2 tokens.
For, e.g., $100 worth of Cake and $100 worth of BNB and stake them on the farm.
You will earn ‘money proportionate to the percentage of your LP tokens in the liquidity pool. And also, when you stake your LP tokens on the farms, you will earn $ Cake.
There are a few things to be kept in mind while doing so –
- There is a fee to be paid after entering the field.
- The Interest rates may vary depending on the number of participants, i.e., more people, lesser would be the interest, and vice-versa.
- As a Liquidity Provider, you would come across something called Impermanent Loss, which may not be a favorite amongst risk-averse stakers.
One could get a whopping 129% APY, as per the ROI on CAKE-BNB. This is a good option for the risk-takers out there, ready to pour in a reasonable amount.
Approach 2 – Predict the prices
As the name suggests, you have to predict whether the price of BNBUSDT would be higher or lower than when it was in the LIVE phase.
If you UP the position and the closing price is higher than the locked price at the end of 5 mins, BINGO! You win! And lose if it is lower.
Similarly, if you DOWN the position and the closing price is lower than the locked price, BOOM! You win again! And lose if it is higher.
There are fees and additional costs involved, but it seems like a simple game to gain quick money.
Approach 3 – Become a Staker
You stake your $ Cake on different syrup pools. Syrup pools are less riskier than liquidity pools and one of the simplest ways to earn free tokens.
This is an excellent option for risk-averse users and incurs low fees as well!
The ones mentioned above are the most frequent approaches preferred by Binance users.
The next up in our list of Binance smart chain projects is Venus (XVS). This is a decentralized lending and credit system based upon Binance Smart Chain and is an Automatic Money Market System.
It allows us to transact the world’s first decentralized stablecoin VAI, bolstered by a basket of crypto assets and other stablecoins without centralized control.
It is a safe option with a safety rank of 4.6/10. We need to consider that this is a very novel approach and is new in the market, hence the safety rank.
It is backed by the Venus protocol, which enables token holders to vote on changes to the ecosystem, such as adding new collateral types or organizing product improvements.
How to get high ROI from Venus?
For this, you would have to open a Venus account on any platform that supports XVS tokens. Deposit funds in your wallet and then buy Venus. There are three essential means to monetize it –
- Over-collateralized lending where users can borrow assets whose value is 75% or lower than that of the assets supplied.
- Earn interest by supplying supported collateral assets to the protocol.
- The ability to mint VAI, the protocol’s default synthetic stablecoin, is pegged to the value of 1 USD.
The Venus Community has a lot on the plate currently and is working relentlessly to enable interaction with other BSC protocols by launching and participating in blockchain, DeFi conferences, and workshops.
This shows that this project has great potential, and early investment can ensure massive returns in a short period of time.
Beefy.Finance (BIFI) –
You can recall the concept of liquidity pools mentioned in the first project. BIFI is primarily related to these pools. It automates our investment strategies by using these pools.
Thus, we interact with different yield farming opportunities without having to review and execute these strategies manually.
This project is backed by a few protocols ensuring utmost transparency and enabling trust amongst users.
- Vaults – they deploy a specific set of strategies for yield farming. We aim to achieve maximum interest provided by this automated component that invests and reinvests our funds.
- Strategies – These are modular smart contracts that tell the vaults what assets to farm and sell the farmed assets.
- Barn of Trust – Barn of Trust provides users the opportunity to earn rewards in several dApp projects by staking TWT or BIFI in the vaults.
How to get high ROI from BIFI?
As mentioned above, these protocols are designed to provide us with regular rewards. Rewards are regularly harvested, swapped for the original vault asset, and deposited again for compound farming.
Compounding, the most crucial concept in investing, has been leveraged here to maximize our returns on investments.
As of March 16th, 2021, the total supply of BIFI is 80,000, and the current circulating supply is 95%.
BIFI reports are public and can be checked by any user who has a keen interest in becoming a part of Beefy. Finance.
4th on our list of Binance smart chain projects is BakerySwap. It is a Non-Fungible Token (NFT), which has gained tremendous momentum and is heating up immensely.
It allows people to trade their crypto art collectibles by setting a price for the product and waiting for buyers to come. BSC has projects breaking new ground in what NFTs can do.
You can store your collectibles in a compatible resource such as a Trust Wallet and launch your collectibles to be picked up by buyers.
Most exchanges are user-friendly but don’t push the boat out when it comes to exciting NFT developments. Bakery Swap, on the other hand, does things a little bit differently.
How to get high ROI from BakerySwap?
Profits from Selling? Yes, indeed! This is a straightforward form of investment, unlike the ones mentioned above. The value assigned to these tokens depends on the collectibility and possible utility.
Just like physical art, rare and unique digital art sells for significant amounts! Powerful ones are sold like hotcakes compared to the weaker ones.
They have an additional functionality called NFT Bakery combos. These yummy, snack-based NFTs are not only collectible items but can also be used as tools to farm BAKE, the platform’s native token.
These combos have some staking power embedded in them, which provides monetization by earning BAKED tokens which were essentially staked.
While they do have a delicious picture attached, their real value comes from their financial benefits.
The last one to round off our list of Binance smart chain projects is Battle Pets. It is a novel concept that brings together two diverse worlds – gaming and NFTs.
As we saw in the case of crypto kitties, gaming has attracted many customers who are more than willing to park their money into these off-chain assets.
Here, each pet represents an NFT that can be collected, nourished, and armed with battles to fight with other pets.
You are given actual pet tokens, which you can exchange during transactions throughout the Pet ecosystem.
A few steps to get you acquainted with the system –
- Firstly, choose and collect your preferred pet.
- Arm and reinforce them.
- Find your pet its suitable partner and breed their offspring.
- Win battles and earn tokens.
- Level your pets up and make them stronger.
- Trade these pets in the open market available.
Out of the total 200,000,000 pet token supply, distribution in the current market looks something like this –
- 90% are getting farmed
- 2% in operations
- 8% in initial offerings
This approach is exciting and again comes under NFTs, a very safe and secure way to earn tokens with bare minimum fees.
If you are a new user and are looking to get familiar with this ecosystem, I suggest you contribute towards NFTs first and then venture into your investments. This is a prudent way to leverage knowledge to earn you some profits.
This should have given you a clear perspective on the Binance smart chain projects. There are multiple projects under the way you can explore for yourself and find the best to monetize your needs.
On the other hand, if you plan to launch your dApp, make sure to get its smart contract audited to steer clear of any attention from the malicious entities that may be eyeing your project!
I hope this article helps you and if you have any queries related to it, leave your comment below. If you have not joined our community then you can now. We are very active there and have been sharing important information there.
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