BurgerSwap presents the Fast Food Alliance 🍔🍟🥤
We are excited to announce the establishment of the Fast Food Alliance ecosystem on Binance Smart Chain today!
Initiated by BurgerSwap, the Fast Food Alliance is a group of Binance Smart Chain-based DeFi projects coming together with the common mission of adding use cases and boosting the development of BSC DeFi ecosystem.
Within two months since the establishment of Binance Smart Chain, its user volume increased to nearly 26,000 with 4,000 on average daily. Thanks to its excellent performance, high speed, and near-to-zero Gas fee, Binance Smart Chain quickly evolved as an ideal foundation for DeFi projects, attracting multiple DeFi projects migrating from Ethereum, and a great number of assets along with them.
Meanwhile, BSC has seen an increasing number of original DeFi projects established on top of it, including BurgerSwap, Pancakeswap, Bakeryswap, Fry.world and more. They have all been contributing to the user volume, transaction volume, and popularity of Binance Smart Chain.
However, there is still a large part of the assets unutilized on Binance Smart Chain (not traded, staked or in LP), with a utilization rate of less than 50% at the time of writing. There is also a massive amount of assets in Ethereum based DeFi products, of which the APY is decreasing and making it less and less attractive for users to keep it there.
BurgerSwap has connections in the DeFi space spread around the globe, as we are based across Asia, Europe and the US. It makes it easy for us to team up with developers from all over the world and build awesome products to add to the BurgerSwap ecosystem and improve utility for our users.
Objective of the Fast Food Alliance
The Fast Food Alliance is an initiative by a team of decentralized developers, designers and marketeers who are contributing to the BurgerSwap platform.
The Fast Food Alliance strives to find synergies with other developers and teams in the BSC ecosystem, with the ultimate goal to add new products and use cases, which will not only improve the utilization rate of current assets on BSC but also attract more users and assets to Binance Smart Chain.
Introducing the first Alliance Members
Since the launch of BurgerSwap a few weeks ago, we have been talking to developers and projects inside and outside of our network about ideas of adding use cases to BurgerSwap and the BURGER token.
Fry.world is one of the first Yearn.finance-like products based on Binance Smart Chain. It is able to deliver the best yield optimizing strategies to its user without the extremely high Gas fees and congestion issues faced by ETH-based projects.
With Fry.world you can stake, farm and earn FRIES and KHP tokens. Earlier today they launched Fry.world Vaults which represents the first investment management tools on Binance Smart Chain to automate the best yield farming opportunities available. This has been launched along with new LP multipliers for BURGER, BNB and BUSD /FRIES pairs!
This is a great example of how the Alliance partners create new use cases and passive income opportunities for one another, as well as adding more stablecoin liquidity to Binance Smart Chain and promoting the usage of BUSD as a stable asset.
Through matching the FIL holders and FIL seekers, 7up is designed for the Filecoin borrowing market. Meanwhile, on the 7up platform, lending itself is a way of mining. Once a loan contract takes effect, the borrower and lender will both receive rewards in 7UP, the native token of the platform.
BurgerSwap and 7up.finance will work together on new use cases for the BURGER as well as 7UP token. The first use case will be announced later today, so stay tuned!
The Fast Food Alliance welcomes all interested parties to join the group, as long as you desire to contribute to the development of BSC DeFi ecosystem. Please contact the Burger King on Telegram for membership consulting.
How will Binance Smart Chain benefit from Fast Food Alliance?
BurgerSwap does not intend to compete with any of the successful BSC-based applications but aims to work closely with the Binance Smart Chain and project teams to reach our mutual benefits.
All the projects in the Fast Food Alliance serve a certain goal to help the BSC ecosystem and utilization rate of BSC assets grow, which can be detailed as the following five points:
- Yield farming helps attract users with high yields from their assets, be it BSC or ETH based
- Stable coins liquidity will attract high value players who want low risk yields on their stable assets, again BSC or ETH based
- Lending, borrowing and OTC trading will bring more liquidity across all BSC based platforms.
- Initial token sales will attract new projects and their communities to trade on BSC
- NFT auctions will create a whole new ecosystem for ERC-721 tokens on BSC
- BurgerSwap announcement: https://medium.com/@bnburgerking/introducing-burgerswap-a-democratized-amm-on-binance-smart-chain-ac19287b5a2a
- BurgerSwap exchange: https://burgerswap.org/
- BURGER🍔 token contract: https://www.bscscan.com/token/0xAe9269f27437f0fcBC232d39Ec814844a51d6b8f
- Github: https://github.com/burgerswap-org/burgerswap-core
- Twitter: https://twitter.com/burger_swap
- Telegram: https://t.me/burgerswap
- Telegram Announcements: https://t.me/BurgerSwapAnn