CZ Shill DeFi! Potential Of Wombat Exchange Of Pancake?

On October 23, Changpeng Zhao Ceo Binance, the largest crypto exchange at the moment, posted on his personal twitter a tweet that "Binance is focusing on investing in DeFi". Defi projects have long been an integral part of the market and especially the Binance portfolio. Although "do not recommend investment", but surely the projects targeted by CZ are very potential in the future. Join Holdstation to find out the 2 most potential Defi projects invested by Binance at the moment.

DeFi picture at the moment

For new users or investors entering the market, no less than once have heard of DeFi. So what is DeFi (decentralized finance), decentralized finance?

DeFi is an application of blockchain technology where everyone can access and use financial services such as asset storage or asset transactions with almost no control or regulation. domination by any individual or organization. Some applications of defi can be mentioned as decentralized exchanges (DEX): Pancake swap, Uniswap or crypto wallets such as Metamask or Holdstation Wallet.

Any ecosystem, old or new, is very focused on DeFi. According to DefiLlama, the total TVL of all DeFi projects is currently at $52 billion, nearly 6 times higher than the same period last year. December 2021 also sees defi's TVL peaking at $177 billion. These figures show that DeFi is tending to expand and grow.

Potential DeFi projects

If what CZ said is true, Binance is focusing on investing in DeFi. Although "do not recommend investment", but surely the projects targeted by CZ are very potential in the future. Here are the two brightest Defi projects invested by Binance at the moment.

Pancake Swap

Considered as the backyard of Binance, Pancake is one of the DEX exchanges with the top trading volume on BSC and also one of the top in the market.

Pancake Swap's upcoming plans

With the opening of the vote to implement the Pancake swap and native token Pancake to layer 1 Aptos and as a result, the community with the majority of opinions supported this plan. Therefore, it is only a matter of time before the issue of Pancake swap and $CAKE tokens appearing on the Aptos ecosystem.

So why Aptos and not other ecosystems? What benefits will Pancake get when participating in the Aptos ecosystem?

➡️The answer is very simple that is the potential of the new ecosystem.

Aptos, layer 1 receives the most attention of the cash flow as well as the community at the moment. Behind Aptos is a series of "terrible" backers such as Binance Labs, Alameda Research, Coinbase, etc. In the current downtrend period when the macro news is not supportive, the market cannot find any trend. new. The place that attracts the most cash flow right now is nowhere else than the Aptos ecosystem.

While the new DeFi products built on Aptos are very new, not yet known to many users and investors, the familiar name Pancake appears, won't it be a preferred choice of users? ! At that time, the money flowing into the expected Aptos ecosystem will indirectly flow into Pancake.

Not to mention, Pancake is also considered as Binance's backyard, while in the whole of 2022, the project that received the most attention and investment from Binance is none other than Aptos. From a personal perspective, this proves that Pancake's move to deploy on Aptos is a strategic move and just waiting for the right time to announce.

Token APT has also officially been listed Pancake, trade $APT on Pancake here.

Wombat Exchange

Referring to Defi projects invested by Binance without Wombat, it is really a big mistake. Not only has both Binance Labs and BNB Chain, Wombat is also invested by leading funds such as Animoca Brands, Shima Capital, Silverstone. This is also the closest IFO product of Pancake.

Especially if you look at the project's token allocation, you will see how Binance "puts all its faith" in the project. Since Wombat has a lot of potential that cannot be covered in one paragraph, let's explore the potential of Wombat Exchange in detail below.

Read more: Wombat Exchange - CZ's Potential Project.