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New DeFi Dapps on BSC Lure Users With High APY Rates

Posted by
Hristina Yordanova

LZ Swap and Bunicorn see upwards of 200% increase in unique active wallets in a week

New DeFi dapps on BSC (Binance Smart Chain) are spawning by the minute, and despite an overall drop in activity in the sector, new users are swarming to use them. The most recent examples are LZ Swap and Bunicorn, which saw a 277% and 227% boost in unique active wallets respectively.

According to a recent DappRadar Industry Report, the DeFi sector is experiencing a drop in interest, with 17% fewer unique user wallets in a month. Despite that, new exchanges and token swaps are still performing well, especially when they release promotional APY rates for the launch phase. 

DeFi Dapps on BSC

LZ Swap

LZ Swap dubs itself “the ultimate solution to DeFi’s low liquidity and high price slippage”. Whether that’s true or not, in the past week, the exchange has seen a steady increase in the number of unique active wallets trading on the platform. Boosting user wallets to almost 25,000 LZ Swap has also seen its volume rise to upward of $11 million.

The exchange launched less than two months ago and has already made it to the top of DappRadar Exchanges rankings. Currently, the most popular liquidity pools on the platform are tied to the exchange’s native token LZ. By the looks of it, the pool offering the highest APY at the time of writing is LZP/BUSD. It has a whopping 343.34% yield percentage. Other pools like LZ/USDC and LZ/LZP offer APY around 34%. 

With a rather limited variety of farming options, LZ Swap still manages to draw in users. This is predominantly due to the alluring LZP/BUSD yield farming pool. 

Bunicorn attracts more value

Bunicorn, another newborn among DeFi dapps on BSC, is also showing promising growth in terms of attracting unique active wallets. In the past week, the platform saw more than 5,000 user wallets, accumulating a total volume of more than $21 million. An interesting comparison arises here. Bunicorn realized almost twice the volume LZ Swap recorded, but with a fifth the number of unique wallets. This means that a fewer number of users locked up larger amounts of assets.

Unlike LZ Swap, Bunicorn offers a wider array of yield farming pools. Interestingly, Bunicorn also offers some lucrative multipliers to go with rather high APR percentages. For example, WBNB/BUNI pool offers 272.49% APR combined with a 9X multiplier. This is an attractive deal for profit-hungry investors.

Additionally, the minimum APR rate on the platform is 50% for the USDT/BUSD pool. This is a great offer. The combination of a big selection of pools, and relatively high APR and multiplier rates makes Bunicorn a rising star among DeFi dapps on BSC. 

DeFi dapps on BSC

Binance Smart Chain has proven itself as one of the biggest competitive players in the crypto industry. The blockchain is constantly taking on Ethereum, and its main competitive advantages are the low processing costs and faster transaction approvals. 

Considering this, many DeFi dapp developers are concentrating their efforts on BSC, and new dapps launch every day. DeFi might not be as hot as it was last summer. However, there is still a big user base for this kind of investment opportunities. 

DappRadar will continue monitoring the BSC DeFi space. If you’d like to get in on the APY action and start yule farming, you can use the DappRadar Token Swap. Get your hands on some of these hot tokens to start pooling!

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