What’s brewing in the Binance Smart Chain [BSC] ecosystem?

There has been a lot going on in the Binance Smart Chain [BSC] network. The latest to hit the smart contract platform is the RAMP DEFI, multi-chain decentralized finance or DeFi protocol that launched its Liquidity Incentives Program on 30th November 2021. According to the blog post, RAMP’s ‘collateralized stablecoin lending protocol‘ would facilitate users to deposit assets at high APYs and borrow against these tokens at the same time, allowing for a seamless scaling platform.

For starters, APY or annual rate of return plays the role of cryptocurrency savings account equal to annual percentage rate (APR) account. Further, the blog stated,

With this incentive program, we hope to help new DeFi users discover the full potential of the RAMP platform and maximize the full value of their crypto-asset ownership in the process.

Another important project that is doing the rounds is the launch of a new meme coin dubbed Rocky Inu [ROCKY] created exclusively on the Binance Smart Chain, two days ago. As per the press release, the canine-themed project takes its inspiration from famed meme coins such as Shiba Inu, to create a ‘low cap gem with massive moonshot potential’. That being said, the press release further claims that the newly launched coin is supported by some of the well-known influencers in the crypto world, which would propel it to reach new heights of popularity.

Binance Smart Chain’s [BSC] much anticipated Bruno Upgrade

According to the Binance website, the upcoming BSC version 1.1.5 Bruno hard fork is scheduled to be activated in the block height of 13,082,000, or at approximately 30th November at 8 am [UTC]. Furthermore, all Deposits and withdrawals on the Binance Smart Chain network will be suspended from around 7:45 am [UTC] on 30th November.

As per the announcement, BSC users and developers will not be directly affected by the upgrade. It will however impact the validators or full node operators. After the activation, the blog explains that “the blockchain will be able to handle a series of new features and eliminate existing bugs.” and further notified that all validators would be required to upgrade into the latest version to continue sending transactions.