In the previous articles of the Project Spotlights series, where we’re interviewing projects developing on Binance Smart Chain, we shared with you the first two projects – ForTube and BurgerSwap. We continue with the Project Spotlights interviews, and the third project you’ll learn about is Bounce.
Learn what Bounce is, what lead them to build on BSC and their vision of the future of DeFi.
We believe this will help you better understand the advantages and perks of Binance Smart Chain and persuade you to consider BSC as an infrastructure provider for your dApp or DeFi platform.
Please describe your project to those who might not be familiar with Bounce.
Bounce: Bounce is a decentralized auction protocol based on both Ethereum and Binance Smart. It provides a competitive swap environment to unlock the potential of open finance. Its use cases include OTC trade, initial token offering, and NFT auction.
Why did you decide to migrate/build on Binance Smart Chain?
Bounce: There are three main reasons for this choice.
First, Cheaper & faster: BSC has lower Gas costs and faster speed thanks to its Proof of Stake and Authoritative Consensus Mechanism (PoSA). These two factors will contribute significantly to a better user experience.
Second, Compatibility with Ethereum virtual machine. Bounce was first established on Ethereum, and BSC’s Ethereum virtual machine was able to help us easily migrate.
Third, Potential & popularity: BSC is an important step made by the community in the DeFi space. As the world’s largest crypto exchange, Binance can provide strong support for BSC, and we understand that for BSC, the sky’s the limit. Thanks to Binance’s advanced technology and huge user base, BSC is making evident progress in popularity from day one, and the growth rate is increasing exponentially. A large user base and reliable technology serve as an excellent foundation for projects built on it.
What do you see as the main advantage of BSC compared to other blockchains?
Bounce: BSC has a significant advantage in popularity and enjoys access to many educated users, providing an ideal place for DeFi projects to get bootstrapped. It also has excellent transaction performance; hence Bounce can offer an outstanding user experience. BSC can attract many users from Ethereum as a more mature DeFi ecosystem, given that it is compatible with Ethereum.
How was the migration process? Can you name some of the highlights or positive experiences and, on the other hand, some of the challenges?
Bounce: Actually, the migration was done without a hitch. The coordination with the BSC community also went very smoothly. BSC Engineers and developers provided us with fantastic help during the migration.
What kind of perks or benefits within the Binance ecosystem directly affect the performance and success of ForTube?
Bounce: First, the ever-growing volume of users, dApps, and assets successfully made BSC an ideal choice for developers, who are collectively making BSC a better place. Second, thanks to its well-established community with many educated and enthusiastic users, Bounce was able to get itself bootstrapped within a short period.
Being a part of the BSC family and community, Bounce got to know many fantastic projects and teams, who have given us much inspiration. Bounce managed to grow together with them. For example, Dego is an essential partner of Bounce, and the two launched their first co-branded NFT campaign together recently and received high participation. Bounce has partnerships with other BSC-based projects and welcomes new partners to collaborate and grow together.
What do you hope to see next from the BSC community?
Bounce: We hope to see more significant support both financially and technology-wise from Binance for BSC and DeFi projects. More acceleration funds are a great booster for the prosperity of the DeFi ecosystem.
Meanwhile, collaboration with mainstream ETH-based DeFi projects might be a good way to attract users from Ethereum.
Where do you see DeFi and BSC in five years?
Bounce: DeFi is making people rethink finance and is believed to become mainstream with more and more users, including the institution’s participation. It will also undoubtedly become a core of the whole crypto industry.
Meanwhile, in five years, I believe that BSC will become a leading DeFi ecosystem, enjoying a similar or even larger user and asset volume as ETH. With more users and institutions looking for decentralized finance solutions, BSC’s mass adoption is predictable.
If you’re interested in knowing more about the Binance incentives for BSC projects, please visit https://binancex.dev/index.html.
Alternatively, you can directly apply for the funding via this simple and straightforward form. Apply today and launch your project to the moon!