As the Binance Smart Chain ecosystem is gradually growing and improving, more and more projects turn to build a branch on BSC.
Today we are introducing a new NFT marketplace and a new DeFi protocol that both land on the Ethereum blockchain and Binance Smart Chain.
The most popular NFTs or NFT collections are mostly created by famous artists or influencers. With NFTKEY, you are not only a trader in the NFT marketplace buying or selling others’ works, but you are also able to create your own.
Firstly, as a trader, you can unlock quick and easy access to digital collectibles and explore, buy and sell NFTs from different blockchains and artists.
NFTKEY builds both on Ethereum and Binance Smart Chain, so you can trade the top NFT collections on the 2 blockchains at one place.
The NFTKEY interface directly interacts with the NFTKEY Marketplace Smart Contract on the blockchain. All listing and bidding actions are P2P transactions without the involvement of any centralised services.
The smart contracts are free for anyone to interface with, not just through the NFTKEY website. Also, all the listing and bidding actions emit transparent event logs for everyone to listen to or query.
Since NFTKEY’s launch on 1st Apr on BSC, a total of 37 unique NFT traders have interacted with the marketplace. There was a $5.14K volume traded in 52 NFT trades.
Secondly, you can mint your one-of-a-kind NFT and get rewards from NFTKEY.
NFTKEY released their first NFT collection - Life. The Life Collection is an interactive cellular automaton NFT collection. You can design, play and mint your own BIOs, which evolves through time based on John Conway’s ‘Game of Life’.
Unlike artwork-based NFTs, The Life Collection is a data-based NFT collection, which reads and writes BIO’s DNA data to the Life Smart Contract on the blockchain.When minting a BIO, the BIO’s uniqueness and active cell count is validated mathematically by the smart contract.
How to create your own BIO? Here are the steps:
You can receive Life Collection Rewards if you create and mint your own BIO: At least 50% of all the BIO mint funds will be rewarded to the owners.
For ETH Life Collection, 139 BIOs have been minted, 9,861 BIOs are left. As for BNB Life Collection, 16 BIOs have been minted while 9,984 BIOs remain.
FinNexus Protocol is a decentralized non-custodial protocol for writing, trading, and exercising options with pooled liquidity. The protocol is now launched on Ethereum, Binance Smart Chain and Wanchain, and will be accessible through a single interface that supports all the blockchains. Later, FPO contracts will be deployed on other chains.
FinNexus's main product is FPO (FinNexus Protocol for Options). FPO v1.0 is a universal options protocol that enables the creation and trading of options or other derivatives from any type of underlying asset based on the collateral held in liquidity pools.
An option is a binding contract that allows you (as the buyer) to sell or buy an underlying asset (goods, stocks, indexes, etc.) at a predetermined price within a set time frame. You, as the buyer of an option contract, have the right, but not the obligation, to buy or sell the underlying asset. At present it supports $BTC, $ETH, $MKR, $SNX and $LINK options.
You can customize your options with your desired terms. For example, first, choose a cryptocurrency for your options, find and choose/type in the options type, size, strike price, expiration and payment that may suit your needs.
The protocol has an $FNX Liquidity Mining feature. You can earn rewards by providing liquidity to $FNX.
There are 4 pools for you to select: $USDC, $USDT, $FRAX and $FNX. The best APY is up to 377.38% at the time of writing.
The dashboard demonstrates that $FNX token price has a high correlation with FinNexus on-chain users and transactions. After the daily transactions hit ATH on 25th Jan and daily users hit ATH on 1st Feb, $FNX token price also broke ATH $0.922595 on 16th Feb 2021.
If you’d like to trade $FNX, you can watch closely on FinNexus on-chain performance.
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