Top Binance Smart Chain (BSC) Updates | July Week 3
Binance Smart Chain (BSC) continues to produce significant developments. To keep users informed of the latest developments concerning BSC, Altcoin Buzz has compiled the latest updates from last week.
During the week, the best Binance Smart Chain (BSC) projects for the year were revealed. There was also an announcement about the migration of the Gnosis Safe on the BSC platform.
1 – Best Binance Smart Chain (BSC) Projects in 2021
During the “Build to the Moon” event, the Binance 2021 Awards were carried out. This also covered the top-performing projects on the BSC platform.
“The nominees included projects launched on BSC after its mainnet launch on September 1, 2020. We included success factors like the stability and activeness of the user base, market influence and gained traction and the value of attracted investments. All nominees and winning projects are community-driven and independent of Binance.com,” the report noted.
Taking a look at each category:
- Trust Wallet was the BSC wallet of the year.
- PancakeSwap was the BSC DeFi project of the year.
- BakerySwap was the BSC NFT marketplace of the year.
- BscScan won the BSC infrastructure project of the year.
- CertiK took the prize for the BSC security project of the year.
- BunnyPark was also the BSC gaming and collectible project of the year.
🏆Congratulations to the best #BSC projects of the year in 6 different categories!🏆
Wallet – @TrustWalletApp
DeFi – @PancakeSwap
Infra – @bscscan
NFT marketplace – @bakery_swap
Collectible & Gaming – @BunnyPark_BSC
Security – @certik_io
— Binance Smart Chain (@BinanceChain) July 15, 2021
2 – Movement of the Gnosis Safe on the BSC Platform
Per the announcement, the present type of Gnosis Safe homepage on the BSC platform will be abandoned from the 1st of September, 2021 at 1:00 PM (UTC). However, the change is because the team behind Gnosis Safe already constructed the mainnet support on BSC.
The users of the Gnosis migrate Safes have also been advised to move to the official site from the community site.
“…Because of the incompatible proxy implementation, we suggest users migrate manually by creating a new Safe via a new interface and then move all assets and authorities over. NOTE: PLEASE ALWAYS TEST BEFORE FINAL EXECUTION,” the report stated.
3 – Reports Reveals BSC Dominance
Recent reports have pointed out the BSC outstanding performance in the second quarter of 2021.
» Binance Smart Chain (BSC) Was the Most Used Blockchain in Q2, 2021 – Ethereum World News https://t.co/m2kk3sMUle
— CZ 🔶 Binance (@cz_binance) July 15, 2021
Notably, reports from DappRadar confirmed BSC as the “most used network” in the second quarter of 2021. The report also revealed that unique active users on BSC rose by 400% between the first and second quarter of the year, and the figure is currently at 421,854.
For Dapps, the BSC platform reportedly reached a record of 1,464 Dapps on the platform.
Specifically, the report stated that “PancakeSwap is Binance Smart Chain’s ‘Golden Goose’.” The rationale behind this statement is due to the fact that: “…PancakeSwap on the Binance Smart Chain was the most used Dapp on all blockchains in Q2, with over 5 million active wallets and $1 Trillion in total trade volume. Furthermore, the total value locked on PancakeSwap (CAKE) made up 28% of what is locked on the Binance Smart Chain at roughly $7 Billion.”
Additionally, NFTs, and gaming have started gathering momentum on the BSC platform.
4 – Coin98 Wallet Collaborates with PancakeSwap
Non-custodial, multi-chain wallet, and DeFi gateway, Coin98 Wallet, announced its partnership with PancakeSwap. This collaboration also holds a lot of benefits for both parties.
Coin98 Wallet is happy to announce that we are officially integrated into @PancakeSwap wallet list.
From now on, users can conveniently connect their multi-chain wallets on @coin98_wallet to PancakeSwap and enjoy numerous #DeFi services on this AMM.
— Coin98 Wallet (@coin98_wallet) July 16, 2021
Per the announcement: “With Coin98 Wallet integrated into PancakeSwap’s official list of wallets, all users can now connect their multi-chain wallets to experience PancakeSwap easily, seamlessly and conveniently. Moreover, Coin98 Wallet users can now access numerous products on PancakeSwap, such as Swap, Farm, Lottery, Staking, or Predictions.”
5 – BSC BUIDL Reward Program
During the week, the BSC platform also revealed plans to work with their partners to reward, and aid projects BUIDLing on the BSC ecosystem.
Notably, one of the means is through Binance’s monthly BUIDL reward program. This program involves the platform paying back transaction charges to eligible projects, reducing expenses, and improving the project being worked on.
“This program is part of the $100 million DeFi accelerator fund and up to $5 million worth of BNB will be paid back to developers in proportion to the gas used for their contracts via the BUIDL Rewards,” the report stated.
As of the time of publication, Binance Coin’s price was $261.54 with a 24-hour trading volume of $1,654,327,148. BNB price also dropped down 12.1% over the last 24 hours.
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