DeFi is on everyone’s lips today. People have already locked $78,7 billions in DeFi smart contracts. The majority of DeFi platforms are based on the Ethereum blockchain. It has a huge negative influence on the cost and speed of operations in Ethereum. Other projects running on Binance Smart Chain which launched in September 2020 and ensured to reduce commissions and faster transactions.
For example, the biggest decentralised exchange on Ethereum blockchain Uniswap recently has reached TVL $ 4,37 billion. Impressive, but there is another huge decentralised exchange running on BSC – Pancake Swap, on the other hand. Its TVL has reached $ 5,88 billion. This shows how operations on Binance Smart Chain conquer the market.
DeFireX announces the addition of new farming & staking on Binance Smart Chain. Recently the platform has abandoned farming & staking on Ethereum blockchain due to its low profitability, around 20% – 40%, and high gas fees. DeFireX smart contract architects have mixed all features of Venus and PancakeSwap protocols in four financial products running on BSC: DFX staking pool, DFX / BUSD LP liquidity pool, USDT farming pool, BUSD farming pool.
Financial Lego on BSC
Like Lego blocks, DeFi projects mix various DeFi protocols, offering financial strategies from simple elements. DeFi platforms compete with each other to take full advantage of existing blockchains, DeFi protocols and digital assets to take first place on DefiPulse.
Timely addition of new DeFi protocols is critically important for DeFi. All protocols used as building blocks of DeFi should effectively complement each other. DeFi projects which want to keep gathering attention and funds should also switch on BSC blockchain to reduce gas fees hundreds of times and provide stable income.
The DeFireX team has rapidly reacted to new conditions of the high load Ethereum network and implemented BSC farming and landing with reduced gas fees. All farming mechanics on the BSC are successfully functioning on the platform and bring a stable income in a range of 80% – 200% without the risk of position liquidation.
DeFireX provides a stable income without risks for investments with the collaboration with Venus and PancakeSwap protocols. Four farming & staking pools on BSC are offered to the platform users. In several clicks everybody can start earnings with no risk for investments and withdrawn income in stable coins with no commissions.
Platform has governance and utility token DFX, added to 1inch and PancakeSwap exchanges. DFX token total supply is 10M, additional emission is not possible. Since DFX launched, token price has risen 300%, from $ 2 to $ 6. The platform’s average daily profit is $78,000, 30% of which goes to DFX buyback. All DFX generated from buyback are distributed through the DFX Staking pool. In terms of liquidity, DeFireX has a TVL of $31.6 million.