bZx is a platform built on finance margin trading, and it is also decentralized. It has made headlines as of late after it announced yesterday to roll out services on the BSC (Binance Smart Chain), the smart chain of Binance, the world’s largest cryptocurrency exchange in terms of the trading volume. These margin trading services are expected to arrive soon and are a key indicator of progress for the platform.
DeFi platforms making the switch to BSC
It is worth pointing out that the primary reason why a number of investors are choosing to go with Binance is because of ETH not showing any interest in reducing transaction fees. bZx is thus the latest to make this change, and others are expected to follow suit sooner rather than later.
It should also be mentioned that although both Fulcrum and Torque, their major products designed around borrowing, trading and lending, will be making the jump to BSC, they will nevertheless remain ‘ETH focused’.
Token price outlook and mining program
It was also announced that margin trading, which can be conducted via the BSC, will also be made available, specifically through PancakeSwap (their automated market maker). This will be made possible through the utilization of intelligent routing, according to bZx.
Additionally, a new token will also be launched, known as BGOV. These are expected to act as the equivalent of the BZRX token and will coincide with the new yield farming incentives, which are set to be simultaneously launched. Furthermore, BGOV is actually an extension of the SUSHI token contract, which means that it follows its own inflationary influence model. It also makes bZX the very first lending-based AMM that experiences token economics akin to SUSHI.
Ultimately, time will only tell what the future holds for bZx. At the time of this writing, the native BZRX token had traded flat and was managing to change hands around the $0.60 mark. BZRX has thus also managed to finish off the week with a solid 15% increase following the announcement of their farming incentives. The token itself currently has a supply of a whopping 1 billion and had experienced its all-time record high of $1.40 back in August of last year.