Introduction to #dev DeFi | Decentralized Finance Protocol on Binance Smart Chain.

Aug 16, 2021

What is #dev DeFi?

#dev DeFi is an Aggregate Lending & Borrowing protocol built on Binance Smart Chain. The protocol is fully decentralized and open-source.

Since the recent trend on Binance Smart Chain (BSC) has been focused on YEILD farming most of new Dapps build on BSC are farming platforms which connect others platform or just simply fork from Pancakeswap. The ecosystem of BSC is essentially lack of Lending & Borrowing choices.

The vision of #dev DeFi is to aggregate different protocols to optimize Lending APY to users; to lend and borrow from #dev DeFi users will do it through lending pools, each pool has different strategy and connects to different protocol to earn profit. Lenders will have many choices of where to deposit their asset.

The benefit of using #dev DeFi is users will earn as much as they deposit on other farming platforms but they also can collateralize their deposit to borrow other assets, and continue to farm.

In the early stage, #dev DeFi aims to help users borrow CAKE, BNB, BUSD at low borrow interest rates and earn rewards from their collateral at the same time.

Genesis pools

Genesis pools are pools in which assets are not deposited to any other platforms or smart contracts. The main reason is that assets deposited to other platforms are subject to risks and changes of the other platforms. The downside of the Genesis pools is its probably low APY; however, Genesis offers low transaction fees and safety of capital.

DEV token

The tokenomics is to be confirmed. However, surely, users who join #dev DeFi before DEV token is released will still receive their fair shares of DEV token thanks to the retrospective token distribution during the genesis token release.

DEV token will be used to build a DAO governance in the future.