The Binance Smart Chain (BSC) has seen an increase in the activity on its blockchain from token swaps, dApps to NFTs, and decentralized money markets. One of the best features of the BSC is that it offers cross-chain atomic swaps with gas fees that are almost 20 times lower than other chains.
Its Proof-of-stake Authority (PoSA) consensus allows for it to be a high-speed infrastructure, helpful for DeFi apps. This makes it suitable for mass adoption.
BEP-20 tokens offer borderless DeFi opportunities as when a token is launched on the Binance Smart Chain it can easily be moved across different chains. It also helps to simplify interoperability in the entire ecosystem.
BNBFactor is a yield farm on BSC that aims to tap into the utility of the BEP-20 token and the Binance Smart Chain as a whole.
What is BNB Factor?
BNB Factor is an experimental yield farm on the Binance Smart Chain which allows its users to earn between 2% to 4% profits. The project was launched on 16th August 2021 and has seen a growing success rate with its high APR (Annual Percentage Rate).
The platform attracts a wide range of users ranging from long-term investors to active users who earn on referrals and rewards.
Some of the major features of BNBFactor include:
- Strong security: BNBFactor’s smart code is safe and has been audited by 2 independent companies CertiK and HazeCrypto. The audits offer the reassurance of protection against threats and hackers.
- Customer support: In order to address customer grievances and help them resolve their issues, BNBFactor offers its users 24/7 customer support on Telegram.
- Stable APR: BNBFactor has one of the highest APR among the yield farms on BSC.
BNBFactor offers its users a variety of staking plans. These include a “forever” earning plan which lets its users earn a 2% return every day. For a 40-day staking plan, users would get a 4% return daily while for a 60-day plan, they would get a 3.5% return rate daily. A 90-day staking plan would fetch users to get a 3% return every day.
Staking on the BNBFactor plan is simple as users just need to fill in the amount of $BNB that they want to deposit and enter ‘Stake”, after this approving the MetaMask transaction would get them ready to earn $BNB.
The minimum deposit amount for staking is 0.05$BNB.
BNBFactor has an affiliate program that would allow users to share their referral links and join the platform. Currently, there are 5 levels of the affiliate program starting from Level 1 where a user would get 7% from the invited user’s deposit. In level 2 the user who was invited in the Level 1 allows the first user to get a 3% from the deposit, Level 3 lets a user get 1.5% while levels 4 and 5 allows them to get a 1% and a 0.5% from user’s deposit respectively.
BNBFactor also has plans to issue their own DeFi token and a platform that would allow them to reduce the risk of losses.
BNBFactor is an experimental project but with its simple user interface and easy navigation, it is gaining attention in the crypto space. The platform has a growing user base and the affiliate program and staking plans provide users with an opportunity to make profits.
For more information about BNB Factor, please check out their official website.
Disclaimer: This is a paid post and should not be treated as news/advice.