Exploring explosive growth in the last few years, BNB Chain which was previously known as Binance Smart Chain has solidified its position as the third most famous DeFi ecosystem, with close to $12 billion in terms of assets held in its most popular DeFi protocols. With that let us have a look at the top 10 BNB Chain projects that have gained prominence this year.
BNB Chain is a mixture of Binance Smart Chain and Binance Chain, and that now stands for “Build and Build” instead of Binance Coin. Taking advantage of extremely high throughput, fast transaction completion times, and low transaction fees, BNB Chain is broadly considered to be a low-cost alternative to Ether, and there are now well over one thousand ventures and tokens already deployed on the platform.
In this article, we are taking a look at the top 10 BNB Chain projects, a high-speed Go ETH fork and smart contract platform that was created to be effective, immediately familiar, and accessible to most digital currency users. So without any further delay let us start with the list of top Binance Smart Chain projects 2022.
Top 10 BNB Chain Projects
Binance Smart Chain has begun to spread its wings to help flourish varied projects. There are varied projects that are beginning to expand on the BSC (Binance Smart Chain). This blockchain network has been formulated in order to provide developers and users with more fast, efficient, and reliable services in comparison to traditional blockchains. While we are on this topic, how about looking into the top 10 BNB chain projects?
1. Binance Coin (BNB)
By far the most famous asset on BNB Smart Chain is the native token of the platform known as Binance Coin or BNB. Primarily a simple utility token for the Binance exchange, Binance Coin found its fame and utility increased from 2020 onwards with the launch of the BNB Chain blockchain.
The token now has over 1.5 million holders throughout the Ethereum and BNB Chain ecosystems, and has a huge variety of use cases; which include fee discounts on Binance, paying for transaction charges on Binance Chain, and enabling in-store payments, and many more. But more than this, Binance Coin was among the best-performing digital currencies in 2021, netting holders a staggering 1,280 percent profit last year alone.
No list of famous BNB Chain projects would be complete without mentioning PancakeSwap. Despite its fanciful name, PancakeSwap so far is among the most famous dApp on BNB Chain. Now, it arrives with a whole range of DeFi applications that include a DEX (Decentralized Exchange) prediction markets, yield farms, an NFT marketplace, and many more. This project stands shoulders and heads above other decentralized exchanges on the BNB Chain as far as the volume of the trading is concerned along with the PancakeSwap regularly clocking in over half a billion dollars in regular trading volume.
With more than 4 million monthly users, this exchange has drastically crossed the expectations and is presently among the most successful projects presently operating on BNB Chain. The native asset for this exchange is known as CAKE has a broad variety of use scenarios but it does not suffer from relatively high inflation as it is among the primary reward tokens for users in its yield farms.
As a provider of Oracle, Chainlink enables projects that are based on the blockchain to conveniently integrate data feeds from the off-chain sources, which may include IoT sensors, centralized databases, stock markets, and many more. This data then can be fed into smart contracts, supporting power and securing a huge range of decentralized services and applications that include prediction markets and tokenized stocks.
The two way oracle of this platform enables database and traditional businesses to get data from centralized blockchains, helping to offer the benefits of blockchain to the real world. Primarily released on Ethereum, Chainlink has also associated itself with BNB Chain and a variety of other blockchains, and also its native assets that are known as LINK can be bridged to this chain by using a standard token bridge.
4. Baby DogeCoin
For the mama coin fans, the next BNB Chain project likely requires no introduction. We are speaking about the Baby DogeCoin which is presently arguably the most famous meme coin on the BNB Chain.
Released in June 2021, Baby DogeCoin is termed to be an improved variant of the ever-famous Dogecoin (DOGE). The token is presently among the most broadly distributed assets on the BNB Chain, with more than 1.3 million holders. It has also been escalated in some pretty high profile places, that include on renowned Nascar driver Brandon Brown’s custom-wrapped No. 68 Chevrolet Camaro, along with a popular tweet by famed meme-coin lover and a tech pioneer Elon Musk. Even though Baby DogeCoin is a hyper-deflationary meme coin, the project also helps a wide variety of dog rescue initiatives and charities.
Billed as a stablecoin protocol and decentralized money market, Venus offers an open marketplace for borrowers and lenders enabling users to earn interest on their BNB Chain assets by making contributions to the decentralized lending pools.
On the other hand, borrowers can take out a loan in a huge variety of varied assets by putting down enough collateral, all with zero credit checks or long documentation to fill out.
It also provides a completely decentralized stablecoin that is called VAI, but this has so far struggled to keep up with its peg at $1.
Venus was among the first BNB chain projects to release on Binance Launch Pool, enabling users to stake their BNB, SXP, and BUSD tokens to farm XVS tokens for more than a 30-day period. And as of this video going live, it is the second biggest decentralized application (dApp) on BNB Chain by total value locked, with over $1.4 billion worth of assets locked in the protocol.
One of the most ambitious BNB chain projects on this list, given that it tries to enhance the utility and spendability of digital currencies while offering a crucial on-ramp to the sector.
The platform provides a variety of crypto-related services, that includes a famous multi-asset wallet and also a white label debit card issuance solution, which is already being used by several blockchain sectors titans, which include FTX and Binance.
This project was taken over by Binance in December last year after the tech giant shifted from majority ownership to sole ownership of the entity as part of its plans to widen the availability of its services.
The native token of the platform, known as SXP, later became the second most stated digital currency on Twitter after BTC in Nov. 2021 and is basically used to unlock access to higher tier debit cards with enhanced features such as freebies and cashback.
Tranchess is a derivatives trading protocol and platform that offers a huge variation of yield-bearing funds created to cater to varied risk appetites.
The platform presently provides three funds, each of which has a varied risk profile. At the highest end of the risk, the range is the ROOK fund, which trades beneficial assets to offer users with the maximum possible returns. In the mid part, there is the QUEEN fund, which is basically designed for long-term holders and offers reasonable yields with moderate risk. And last up is the BISHOP fund, which offers the lowest returns on stablecoins, but also has the least related risk.
Released back in July 2021, Tranchess has consistently provided some of the best yields in the BNB Chain DeFi space, and now has close to $800 million locked in its protocol.
Along with its famous risk-return products, Tranchess also provides a handful of other DeFi tools, that include a swapping platform and also a primary market that is used for splitting, creating, and merging the QUEEN tokens.
CryptoBlades slits its way into eighth place on this list of top 10 BNB Chain projects. If there is one niche that really took last year by storm, it is play-to-earn gaming.
By assuring to reward players in the form of digital currency tokens for their in-game successes and efforts, play to earn projects became highly famous in 2021, and dozens of P2E games are now up and operational.
But few managed to receive more attention in comparison to CryptoBlades which is arguably the most famous P2E game on BNB Chain.
As a blockchain-powered role-playing game, this BNB Chian project takes advantage of the efficiency and speed of the BNB Chain to enable players to own and leverage their digital assets, which include weapons and characters, to earn an income by playing.
Since all in-game assets take the form of non fungible tokens (NFTs), owners are free to trade or sell them as they see fit on the CryptoBlades marketplace.
The game lately released its PvP open beta, enabling players to battle one another and put their amenities to the test in a variety of combat conditions.
Catering to the lovers of non-fungible tokens and play-to-earn games, Mobox is a famous GameFi platform that was released on the BNB Chain in mid-2021.
The platform integrates gaming, DeFi, and community to formulate an immersive space of products called the ‘MOMOverse’, which is the name of Mobox’s metaverse.
The Mobox ecosystem presently comprises a variety of play-to-earn games, that includes a battle game that is known as Block Brawler, which is a cross-platform idle mining game known as Chainz Arena, and also the turn-based idle game Token Master.
But more than this, the Mobox platform searches to make NFTs more accessible and powerful via its NFT creator tool suite, game creator, and marketplace platform.
Mobox is not very common among BNB Chain projects in that it was fairly released implying there was no token sale or pre-mine, and this utility token was distributed to users for free depending on their activity on the platform.
This is the last name in our Binance Smart Chain projects list. 2021 witnessed the elaboration of a broad number of latest projects, many of which went on to become incredible successes, while others did not so much. Part of this was attributed to an increase in the number of launchpads, which are primarily platforms that help crowdfund new projects on the blockchain. BSCPad was among the first launchpads to basically aim at the BNB Chain ecosystem and supported to crowdfund and include some of the most profitable projects of 2021 that include the likes of GameZone, AIOZ, and MetaVPad. The platform tries to democratize access to sought-after latest projects at the earliest stages of fundraising by offering a tier-based system that enables holders of the BSC PAD token to take part in their IDOs. The platform is presently the biggest launchpad on BNB Chain in terms of both the number of users and market cap.
Summing It Up
There are several other platforms and protocols operating on top of the Binance Smart Chain network and many more upcoming Binance Smart Chain projects. Binance which is the best cryptocurrency exchange in the world is expanding its services and solutions to a huge market of new users and traders. These top 10 BNB Chain projects have been creating quite a noise in the crypto space. These projects evidently have a lot to provide in the near future.
Frequently Asked Questions On BNB Chain Projects
1. What is the BNB project?
Binance coin is a digital coin that is issued by the binance exchange and trades with a BNB ticker. This coin operates on the Ethereum blockchain with standard ERC 20 and is restricted to a maximum of 200 million BNB tokens.
2. How many projects are on Binance smart chain?
There are several other platforms and protocols operating on top of the Binance Smart Chain network. Binance which is the best cryptocurrency exchange in the world is expanding its services and solutions to a huge market of new users and traders.
3. Is BNB ERC20 or BEP2?
When your wallet is used to transfer tokens availing these standards, it simply implies that the transaction will be implemented using the respective platform like BNB for BEP2, BSC for BEP20, or Ethereum for ERC20.