Top Projects Building on Binance Smart Chain in 2022

The best projects based on Binance Smart Chain in 2022

Summary: Binance Smart Chain is the largest smart contract blockchain after Ethereum, by revenue earned (i.e., fees paid to use the blockchain). Our contention is that blockchains that generate real revenue are higher quality investments, so today let’s take a deeper look at who is building on Binance Smart Chain.

Binance Smart Chain is loosely controlled by Binance, the largest cryptocurrency exchange in the world. It works with the BNB (“Build ‘n’ Build”) token, which works similar to gas on Ethereum. Holding BNB also gives you governance rights, such as shareholder votes. Our contention is that investing in BNB is like investing in BSC and, to some extent, also in parent company Binance.

There are currently over 1,200 projects under construction on BSC. Here are the biggest ones.

Number of transactions (MA 7 days) Daily volume of transactions Total blocked value (TVL) Daily Active Users (SAD)
(MA of 7 days)
Pancake Swap 478k $ 262.8 million $ 2.61 billion 156k
According to Live 7.8k $ 178.15 $ 575.15 6.9k
Crypto Bomb 2.9k $ 314.26 $ 112.85k 843
MOBOX 21k $ 401.5k $ 38.9 million 7k
Xmondo game 22.5k 3.15k $ 1.15 million 21.6k

exchange of pancakesPancake Swap

Number of transactions: 478,000
Daily volume of transactions: $ 262.8 million
Total blocked value (TVL): $ 2.61 billion
Daily active users: 156k

PancakeSwap is a Binance Smart Chain native decentralized exchange that allows users to trade coins for other coins. PancakeSwap focuses on BEP20 tokens, a specific token standard developed by Binance.

Most decentralized exchanges use an automated market maker (AMM). This unique system requires no intermediary companies or order books to facilitate trading. There is no need for an order matching system, as you are trading against liquidity pools rather than counterparties.

Buyers don’t have to wait to be matched with sellers or vice versa. Instead, when you want to exchange one token for another, you deposit your token in the liquidity pool, then withdraw the tokens you wish to receive.

For example, if you want to trade a BEP20 based token on PancakeSwap, for example BNB with ALPHA, you will simply find a BNB / ALPHA pool that has enough liquidity. Then, deposit your BNB tokens and automatically receive the correct ALPHA amount based on the latest exchange rate.

However, PancakeSwap isn’t just for traders. You can also work as a liquidity provider, which means you can deposit tokens into a pool for the opportunity to earn a share of the trading fees.

PancakeSwap users can also participate in agricultural production by blocking resources and receiving rewards in the native token called CAKE. There is also a chance to win a lottery when you accurately guess a winning series of numbers.


second directAccording to Live

Number of transactions: 7.8k
Daily volume of transactions: $ 178.15
Total blocked value (TVL): 575.15
Daily active users: 6.9k

SecondLive is a metaverse platform built on the Binance Smart Chain. In November 2021, SecondLive raised $ 30 million in initial funding to develop its social metaverse. SecondLive focuses on building social networks and supporting creators’ business activities. Users can draw their digital lives within the metaverse by creating their own avatars and choosing spaces in which to live and spend time. Users can also complete various tasks with other avatars in various spaces, such as virtual art galleries, arcades, concert halls, exhibition rooms and personal areas.

SecondLive’s goal is to help users experience strong social interactions by allowing them to create a parallel second life.


Crypto Bomb

Number of transactions: 2.9K
Daily volume of transactions: $ 314.26
Total blocked value (TVL): $ 112.85k
Daily active users: 843

Bomb Crypto is a play-to-ear NFT game where players can manage groups of cyborg bomb heroes. Bomb Heroes are programmed to seek out BCOIN and fight monsters. Bomb Crypto offers NFT heroes that can be earned via buy-in, redemption, or market auctions. Game modes include a treasure hunt, story and battle modes.

BCOIN is the native currency of the game and can be used to purchase Bomber Heroes and Bomber Houses.


MOBOX

Number of transactions: 21K
Daily volume of transactions: $ 401.5k
Total blocked value (TVL): $ 38.9 million
Daily active users: 7k

Mobox is a play-to-earn gaming platform that combines elements of game theory mechanics and decentralized finance to create a unique, community-driven, free “GameFi” platform. Mobox is governed by a DAO where holders of the native MBOX token can vote on proposals to make changes to the platform parameters.

Players can also earn passive income by completing tasks and missions throughout the game. Users can also participate in liquidity mining and bet on NFTs to earn a variety of rewards.


xworld gamesWorld Games X

Number of transactions: 22.5K
Daily volume of transactions: $ 3.15k
Total blocked value (TVL): $ 1.15 million
Daily active users: 21.6k

XWorld Games is a blockchain-based gaming ecosystem. “XWorld” represents the unknown virtual world that players can explore and “Games” represent the connected gaming ecosystem.

XWorld Games’ mission is to connect traditional players around the world with blockchain technology so that they can play various games together. It also aims to help more developers get into crypto by providing and building an underlying blockchain framework.

XWG is XWorld Games’ native cryptocurrency, built on Binance’s BEP-20 standard.


Takeaway for investors

Binance Smart Chain (BNB) is the No. 2 for total revenue, so it deserves serious consideration for cryptocurrency investors. (Our thesis: Only one or two blockchain platforms will eventually take over most of the market.)

However, aside from PancakeSwap, a Binance-style version of Uniswap, BSC has no “app killer”. It also has a number of designs that look like real pyramid schemes.

From our point of view, Binance needs to push its considerable resources to court developers, with the goal of attracting more unique, high-quality projects to BSC.

Like streaming wars or console wars, users will flock to the platform with the best content. To beat Ethereum, Binance will need to take BNB’s slogan “Build ‘n’ Build” seriously.

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