Top Three DeFi Projects on BNB Chain to Keep an Eye On
Decentralized finance (DeFi) activity has slowed during the bear market. However, there is still a lot going on with protocols on leading ecosystems such as BNB Chain.
BNB Chain has a total value locked of $7.7 billion, according to DeFiLlama. This is down 70% from its all-time high, however, which is in line with the wider bear market.
BNB Chain has several popular DeFi projects, here are the top three:
The largest decentralized exchange on the BNB Chain network is PancakeSwap. It has a total value locked of $4.36 billion giving it a commanding market share of 56.6%
Venus Protocol (Lending)
Venus is the second largest DeFi protocol on BNB Chain. It offers a decentralized money market for lending, borrowing, and earning crypto assets.
Alpaca Finance (Yield)
The third-largest DeFi protocol on BNB Chain is Alpaca Finance. It has around $367 million in total value locked