8 Common Points that Binance Smart Chain & LeoFinance have

The crypto market is getting more and more competitive for projects. To be able to survive under these conditions, it's a must to fill a gap existing in the crypto ecosystem. Otherwise, it does not seem likely to grow and have a slice in the crypto cake.

With the beginning of De-Fi paradigm, we saw hundreds of projects that had perfect(!) services for the new customers. However, their perfection ended up with impermanent Loss or pools without liquidity providers.

While all these things taking place, Binance Smart Chain )BSC) had also attracted some users on its unique De-Fi products. While the projects on Ethereum blockchain were hot topic, BSC was just one of the platforms whose potential was not realized.

However, eventually, the things have changed. The fees were unbearable and it was not worth spending your time and money on De-Fi because your monthly earnings could hardly cover the transaction fees.

Binance Smart Chain's Sustainable Solutions

• Bridging De-Fi & Ce-Fi : A special fund is allocated as incentives to attract the users.

• Cross-chain projects: The hottest topic of new era crypto ecosystem.

• Bounties, Reward Programs
  At that point, BSC comes up with holistic solutions that were sustainable as well as logical.

• Easy and nearly-feeless fiat money gates

• Backed by BNB Token (Popular and Deflationary)

In the end, here is a table to summarize the inevitable success story:

Prepared by BSC.News

What if we adapt the De-Fi case to Freedom of Speech

Then we find Hive ecosystem; specifically LeoFinance. Let's examine the similarities case by case.

1 -> "Filling a gap existing in the crypto ecosystem"

Since the shadow banning, account restrictions and censorships are the fashionable debates over existing Social Media Platforms, Hive and the communities are bringing solutions for uncensored communication problem with communities & front-ends.

• There is an urgent! need for an alternative of Twitter; just stay tuned for #ProjectBlank... (Let's change the rules of the game 😎)

2 -> "De-Fi paradigm"

LeoFi is going to be released to be able to communicate with other blockchains while bringing De-Fi to Hive ecosystem. For me, inter-blockchain communication is one of the most important topic in crypto. To the point!

3 -> "While the projects on Ethereum blockchain were hot topic, BSC was just one of the platforms whose potential was not realized."

Once crypto-influencers realized the growing potential of crypto-blogging, they started engaging on several platforms. However, the ones that were preferred were either semi-centralized (threshold for incentives, e-mail or phone registrations, KYC(😂) etc)

When Leo stepped to the stage, the platform even made it possible for a person to compensate his/her monthly expenditures. Not even talking about authentic community, censorship resistance or sustainable growth...

4 -> "The fees were unbearable and it was not worth spending your time and money on De-Fi because your monthly earnings could hardly cover the transaction fees"

Sadly though, even a newly growing platform Den.Social is suffering from ETH fees.
Besides, the micro tips are bringing some discussions among Noise.cash users in terms of practicality....

Fees have never been a problem for Hive users, nor will it.

5 -> "Bridging De-Fi & Ce-Fi" (Adapted as old-fashion Social Media & Web-3 Blogging)

Basically, it's not possible to experience a sudden shift from the obsolete ones to new generation blogging. However, LeoFinance enables Twitter users to sign up with their accounts to start blogging on the platform.
Besides, you can automatically share your post on Twitter (e.g. #posh) too.
GENIUS!

6 -> "Cross-chain projects"

Currently you can utilize WLEO-ETH pool on Uniswap. Also, you can be rewarded as Ethereum (LEO is turned into ETH when you receive your post) This is the case of Ethereum.

Additionally, it's likely to see communication or swaps with Thorchain and Binance Smart Chain in the near future 😏

7 -> "Bounties, Reward Programs"

Posting on Leo is already rewarding but apart from the fundamental incentive, we can highlight GEYSER bounty (explained by @leofinance)

Moreover, you are also earning other community tokens such as #ctp #neoxian #palnet #SP #sports etc. ( You always earn more than you predict 😂)

8 -> "Backed by BNB Token" (Adapted as backed by community)

The growth of Binance Smart Chain is quite related to its rank on marketcap lists and its deflationary nature. Of course, the investors want to make gains by investing in BNB, thus, the coin is both seasonally burned and used for several purposes.

The case of Leo diverges at that point. LeoFinance is a token operating on Hive ecosystem and it's not designed to be a "Store of Value". In contrast, it's for engagement thanks to its nature. Yet, token burning is also applicable for LEO in addition to its utility.

The differences between the projects

There is no fiat money gate for Leo as of speaking and it does not seem to be necessary. BSC could feed itself thanks to Binance Exchange at that point. On the other hand, there is no owner/CEO etc of Leo; there is no CZ or something. Totally community-driven.

Conclusion

Starting as 2 hidden gems, BSC could show off its features to people especially with popular liquidity pools, DEX and Yield Farming. On the other hand, BNB coin has multiplied its value as it answered a crying need for crypto with sustainable solutions.

In terms of Financial side, BSC was able to proceed step by step. Yet, with regard to socialization needs, Leo is still uncovered...

Luckily we are on the right side. I did not try to fit a square cube into a triangle space. I'm uncomfortably watching the problems with platforms based on Ethereum. However, I, again and again, understand the potential of Leo while watching these unfortunate cases...

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For some time, I had been planning to discuss the similarities that I spot between these two projects.

Please do not forget to share your opinions with us.
Thanks for reading.

Posted Using LeoFinance ^Beta