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  • Writer's pictureAmiran Azaladze

Top Three DeFi Projects on BNB Chain to Keep an Eye On

Decentralized finance (DeFi) activity has slowed during the bear market. However, there is still a lot going on with protocols on leading ecosystems such as BNB Chain.

BNB Chain has a total value locked of $7.7 billion, according to DeFiLlama. This is down 70% from its all-time high, however, which is in line with the wider bear market.

BNB Chain has several popular DeFi projects, here are the top three:

PancakeSwap (DEX)

The largest decentralized exchange on the BNB Chain network is PancakeSwap. It has a total value locked of $4.36 billion giving it a commanding market share of 56.6%

Venus Protocol (Lending)

Venus is the second largest DeFi protocol on BNB Chain. It offers a decentralized money market for lending, borrowing, and earning crypto assets.

Alpaca Finance (Yield)

The third-largest DeFi protocol on BNB Chain is Alpaca Finance. It has around $367 million in total value locked

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