Binance

DeFi on Binance Smart Chain

Binance Smart Chain (BSC) is a blockchain platform developed by Binance. It's become popular for DeFi due to its low transaction fees and high transaction speed. Here are some popular DeFi protocols on BSC:

1. PancakeSwap: A decentralized exchange similar to Uniswap but on BSC. It also offers yield farming and lottery games.

2. Venus: An algorithmic money market and synthetic stablecoin protocol where users can earn interest, borrow assets, and mint VAI stablecoins.

3. BurgerSwap: A decentralized exchange that allows users to earn rewards for providing liquidity.

4. AutoFarm: A yield farming aggregator that automatically optimizes yields for its users.

Pros of BSC DeFi:

• Low transaction fees.

• Fast transaction speed.

• Backed by Binance, the world's largest cryptocurrency exchange.

Cons of BSC DeFi:

• Centralized compared to other blockchains, as Binance controls a majority of the nodes.

• Smaller developer community compared to Ethereum.

• Less diverse range of DeFi applications.

PancakeSwap

PancakeSwap is the leading automated market maker (AMM) and the first billion-dollar project on Binance Smart Chain. It has surged to the top of the DeFi space and offers a current 24-hour trading volume of $400M.

Venus Protocol

Venus Protocol is a decentralized AMM and Stablecoin lending protocol that is only available on Binance Smart Chain. The protocol offers an intuitive, easy-to-use asset lending and borrowing solution that enables users to borrow against collateral and lend their assets to earn yields.

Beefy Finance

Beefy Finance is a yield optimizer that automatically invests the funds of users into the most profitable yield farming strategies on Binance Smart Chain. The platform has grown in popularity due to its simplicity, low gas fees, and high yields.

AutoFarm

AutoFarm is a yield aggregator and optimizer that helps users to maximize their returns on Binance Smart Chain. It is an automated yield farming platform that supports multiple protocols, allowing users to earn rewards by staking their tokens.

Alpaca Finance

Alpaca Finance is a lending protocol on Binance Smart Chain that allows users to earn yield by supplying liquidity to various pools. The platform has gained popularity due to its low fees and high APYs.