This post follows on from my earlier Crypto Log about Liquidity Mining on Binance Smart Chain (please read) where transaction fees are miniscule. The name for the swap-shops in question are Automated Market Makers.
Ethereum users can be snooty about BSChain, but that spells opportunity. And the war chest can’t be argued with. Plus, Binance knows how to move with the times.
There’s some smart contract risk (note: request audits), but so far so good.
Can there be only one? Not necessarily. It may not all be sustainable, but so far PancakeSwap particularly is retaining holders via SYRUP rewards in new tokens, including TrustWallet token.
Other tactics: NFTs, games, lotteries… All these AMMs might be the reason for BNB price rising, since it’s all about the BNB pairs of course.
So miners/farmers… Put your crypto to work and take the leap out of Binance Ce-Fi….. After all, say goodbye to those 2FA log-ins.
Note: To access BSC, you can use MetaMask etc. wallet, you just need to configure the new network setting.