The beginning of 2021 witnessed a strong performance of Binance ecology. According to CoinGecko’s data, the price of Binance token BNB increased by 710% in the first quarter, which is far ahead of mainstream tokens. Under the leadership of BNB, the Binance Smart Chain has also achieved explosive growth. The TVL on BSC has tripled in three months, reaching US$20 billion.
The traffic and funds support has lent more radiance to the high-quality ecological projects on the BSC. The intensive investment from the Binance ecological platform has produced a handful of competitive projects in DEX, lending, revenue aggregation, etc.. Take DEX for example. The lock-up volume of PancakeSwap, the largest DEX project on BSC, rose by 250% in the first quarter, reaching $2.68 billion, while another project, MDEX, although it was not on BSC in the first quarter, saw its lock-up volume exceeded US$2.2 billion in less than a day when it went online. It is in the limelight and now competing with PancakeSwap.
On April 8, the MDEX decentralized transaction protocol was officially launched on BSC, and concomitantly provided liquidity mining, single token mining, and transaction mining. Its first-day performance is eye-catching: the TVL exceeded US$2.2 billion; the transaction volume exceeded US$2.27 billion; the number of transactions exceeded 441,000.
Up to now, MDEX liquidity staking has reached $2.572 billion and mining output amounted to 202 million MDX. The market value of the output is worth of $733 million, of which liquidity rewards and platform repurchase amount are over $170 million. MDEX delivered an excellent performance in terms of trading volume, the TVL increase and liquid mining benefits. MDEX has become the biggest dark horse in the BSC ecosystem in April.