Binance Smart Chain [BSC] has grown leaps and bounds over the course of the last six months. Its activity and volume have outperformed that of Ethereum in the first quarter of the year alone. More and more decentralized finance [DeFi] platforms are making a move to the rival BSC or have built a bridge as transaction fees remained on Ethereum showed no signs of retreat.
The latest one to announce expansion plans to BSC was DeFi platform, 0x which revealed that v4 is now live on BSC.
0x API has added support for Binance Smart Chain, aggregating liquidity across all existing liquidity sources including PancakeSwap, SushiSwap, DODO, among others.
The official press release also read,
“We are proud to be launching 0x API’s BSC support alongside our initial partners Matcha, Zapper, Dex Guru, Zerion, Dodo, and DexKit.”
0x API essentially drives several DeFi teams on the Ethereum network. With the latest expansion, the platform intends to help its integrators and the broader Binance Smart Chain developer ecosystem onboard the next 100,000 users to the crypto industry.
The platform also noted that BSC is one of the many EVM blockchains where 0x API will be available. It revealed its plans to add support for more L1 chains and L2 solutions in the near future and to work with more teams in a bid to help their users explore decentralized exchange [DEX] in a multichain world.
Another DeFi platform to announce a launch of services on BSC was bZx. The margin trading platform asserted that even if it be moving to BSC, it would continue to remain primarily “Ethereum focused”.
Binance Smart Chain Growth
Thanks to its immense popularity and strategic launch during the DeFi explosion, Binance Smart Chain has attracted a massive inflow of users on its platforms. TVL has also rallied close to its all-time high level of $13 billion. The total market cap of on-chain BEP-20 tokens has also surged to a whopping $15 billion this month. Weekly active address on BSC has also climbed to 560k, i.e., ~56% of Ethereum. Furthermore, the daily volume of Binance Bridge has also hit 10 million.