Various blockchain ecosystems aim to compete against Ethereum to claim their share of the market pie. Binance Smart Chain is one such ecosystem that attracts a fair bit of attention. The following projects are worth keeping tabs on but only after thorough research on their strengths and weaknesses.
The SafePal ecosystem spans a suite of different products to keep cryptocurrency balances safe and secure. Several hardware tools exist to securely store crypto assets, including the Safepal S1 and Safepal Cypher. There is also a mobile app to store, buy, swap, and trade thousands of crypto assets. The native SFP token is issued on the Binance Smart Chain and maintains a roughly $250 million market cap. Moreover, it is used for fees and discounts, claiming special coupons, earning higher yield in the app, and other incentives.
Binance Coin (BNB)
The native currency of the Binance trading platform – the largest crypto exchange in the world – needs little introduction. People can use the currency for speculative purposes or use it to achieve lower trading fees on the exchange itself. Moreover, BNB has various use cases outside of the exchange, including token sales, payments through participating retailers and merchants, and so forth. It is the third-largest crypto asset by market cap and has a total valuation of nearly $100 billion.
The Seedify project is intriguing because it is one of the first blockchain gaming incubators and launchpad solutions. The blockchain gaming industry is still relatively new, and providing support across the board will prove essential for many projects. Seedify facilitates token sales through Initial Gaming Offerings (IGOs). SFUND, the native asset, resides on the Binance Smart Chain and can be used to participate in the liquidity pool, among other things. Seedify.Fund holds a $267 million market cap today.
The MetaHero team aims to explore opportunities in the metaverse world by letting users scan themselves and their real-world assets. Based on 3D technology, these scans will generate ultra-realistic avatars and virtual items to use across multiple games and experiences. Moreover, MetaHero’s technology supports turning real-world items into NFTs. HERO, the ecosystem’s token, exists on Binance Smart Chain and has a market cap of over $687 million. HERO is used for transacting within the ecosystem and accessing the scanning functionality, with more use cases to be added in the future.
CateCoin wants to become the ultimate meme coin with DeFi functionality. To achieve that goal, the developers opt for the Binance Smart Chain, which is cheaper and more efficient than Ethereum. CATE may not seem different from Dogecoin, Shiba Inu, or the many other meme tokens on the market. However, it has a lower supply, high-yield staking support, reflections paid out to holders, and gaming functionality along with DeFi purposes. The Rise of Cats game is live and will receive a V2.0 shortly.