BNB Smart Chain

Liquid Staking is a process that allows staked assets to be converted into liquid tokens that can be traded or utilized in decentralized finance (DeFi) applications, while still earning staking rewards. This innovative approach aims to provide greater flexibility and utility for staked assets within the blockchain ecosystem.

The organization has published its Q1 Ecosystem report, providing insights into the performance and developments within its blockchain ecosystem during the first quarter of the year.

DappBay, a prominent platform in the blockchain ecosystem, has introduced a new security feature called 'Red Alarm.' This feature aims to enhance user safety by providing a blacklist of potentially malicious decentralized applications (dApps) and smart contracts. Users can scan any contract address to receive a quick risk assessment, enabling them to make informed decisions before interacting with these entities. The Red Alarm feature is designed to protect users from falling victim to scams or malicious activities within the blockchain space.

On May 1st, 2024, a call was made for the Web3 community to collectively research a project that could benefit the entire ecosystem. The suggestion was made in the context of a community-driven blockchain ecosystem focused on Layer-1 and Layer-2 scaling solutions.

BNB Chain has launched a DAU Incentive Program competition running from May 1 to May 31, 2024. Participants can win rewards based on their ranking across Average DAU, Incremental DAU, and Gas Fee metrics. The prize pool is dynamic, with higher rewards unlocked for greater Incremental DAU growth, ranging from $50,000 for 100K-300K Incremental DAU to $200,000 for 500K+ Incremental DAU. The top five rankings will receive 40%, 30%, 15%, 10%, and 5% of the prize pool respectively. The competition aims to drive growth and innovation within the BNB Chain ecosystem.

The organization is seeking input from its community members regarding a new proposal. Participants are encouraged to share their thoughts and opinions on the forum provided.

This week saw the launch of several new projects on the BNB Chain, a community-driven blockchain ecosystem offering Layer-1 and Layer-2 scaling solutions. While specific details were not provided, the announcement suggests a flurry of activity and growth within the BNB Chain ecosystem.

The upcoming BNB Chain Fusion will merge the Beacon Chain and BNB Smart Chain, enhancing operational efficiency and security. This transition will provide validators with additional staking opportunities through Maximal Extractable Value (MEV) and liquid staking derivatives (LSDFi). MEV allows validators to extract extra value from block production, while liquid staking enables network security while maintaining asset liquidity. Post-fusion, BNB Chain aims to offer high-APY native staking on BSC with added MEV rewards, boosting returns for delegators and increasing asset flexibility for engaging in DeFi activities.

The Messari State of BNB Chain Q1 2024 report highlights significant growth across key metrics. Daily active addresses on the BNB Chain increased by 26% compared to the previous quarter. DeFi Total Value Locked (TVL) surged by 67%, while average daily DEX volume soared by 193%. DEX volumes hit quarterly highs not seen since Q4 2022, averaging $1.1 billion daily. Additionally, Season 7 of the MVB Program accelerated 13 diverse projects within the BNB Chain ecosystem.

BNB Chain, a community-driven blockchain ecosystem, is currently hiring for several positions. The available roles include BD Manager, Ecosystem Manager, Senior Growth Hacking Manager (DeFi), and PR & Comms Manager. These openings present an opportunity to shape the future of Web3 and make an impact in the rapidly evolving decentralized technology space.