0x and Matcha Becomes the Latest Protocols to Join Binance Smart Chain (BSC) After Alpha as Part of “Multi-Chain Future”

0x is the latest protocol to expand its ecosystem to multiple L1/L2 networks starting with the Binance Smart Chain (BSC).

A permissionless protocol, 0x, is a smart contract system that connects liquidity providers and market makers to facilitate the trading of Ethereum based tokens and now BSC-based.

On Thursday, the network announced that 0x protocol v4 is now live on the blockchain of leading exchange Binance and provides aggregated liquidity across PancakeSwap, SushiSwap, DODO, and other protocols.

Another powerful infra for #BSC Buidlers to enable DeFi aggregation and composition. 0xAPI is famous in the Ethereum community. Welcome to #BSC. https://t.co/1j1vFOiFLH

— CZ 🔶 Binance (@cz_binance) March 18, 2021

In tandem, 0x powered DEX aggregator Matcha has also added support for BSC.

“Matcha users can now trade on BSC! Finding the best prices with flexibility for users to trade on whatever blockchains make sense for them. We see this BSC integration as a natural first step in moving towards a multi-chain future,” says the announcement.

Just yesterday, Alpha Homora also went live on BSC, and in just a day, it amassed more than $200 million in total value locked (TVL). Its TVL on Ethereum is currently about $940 million.

Meanwhile, its token ALPHA is trading at $1.78, with a 738% uptrend in 2021 so far. ALPHA 2.21% Alpha Venture DAO / USD ALPHAUSD $ 0.12
$0.002.21% Volume 13.13 m Change $0.00 Open $0.12 Circulating 774 m Market Cap 93.52 m 1 y DeFi Rallies Towards New Highs As Multiple Layer 1 Blockchains Amaas $50 Billion in TVL 1 y Over 30% of ALPHA’s Circulating Supply Is Now Being Staked & Earning 13% APY 1 y SNX Leads the DeFi Bounce as Team Focuses on Layer 2 Developments and Evolution of ETH Wrapper However, according to Spartan Black of crypto fund The Spartan Group, an investor in the protocol, “$3 is quite reasonable” target for it, “not counting Homora V2 yet, which is a few weeks away,” he said.

At one point, there was a 146% lending interest rate on BNB BNB -0.72% BNB / USD BNBUSD $ 312.75
-$2.25-0.72% Volume 510.58 m Change -$2.25 Open $312.75 Circulating 155.86 m Market Cap 48.74 b 1 y SEC Rejects Another Spot Bitcoin ETF, Binance Announces New System to Remove BNB from Circulation 1 y BitMEX Launches BMEX Token for Active Users, US Not Eligible for Airdrop 1 y Crypto Outliers: Terra (LUNA) Amasses $16.9 Bln & Surpass BSC, Avalanche (AVAX) Aims for 1 Million Daily Transactions on Alpha Finance which, as the team tweeted, comes from “significant demand” to do leveraged yield farming on the BSC-based Alpha.

Existing in parallel

Binance Smart Chain is seeing a lot of traction as skyrocketing demand for block space on the Ethereum network makes it expensive, “pricing out potential users and use cases.”

ATH of BSC

1. Peak ratio of BSC daily Txs to Ethereum Txs: 283%
2. Instantaneous TPS >100
3. Total market cap of on-chain BEP-20 tokens: $15 billion
4. Daily volume of Binance Bridge: 10M
5. Weekly active address reached 560k ~56% of Ethereum

Keep BUIDL on #BinanceSmartChain

— Binance Chain Community (@BinanceChain) March 17, 2021

While this isn’t a new predicament as scaling limitations have always existed for blockchain, the 0x team states what's different this time is that Ethereum supports a wide variety of use cases; “a sandbox for developers to explore all sorts of new ideas.” Now some of these communities are finding new homes on other L1 or L2 networks.

“Ultimately, we believe tokenization will spread to new networks that serve a variety of use cases and user demographics, with many successful ecosystems existing in parallel,” noted the 0x team adding, “Ethereum will continue to serve as a nexus for decentralized finance and 0x protocol.”

With BSC, which is Binance’s effort to introduce their massive user base to the world of smart contracts, 0x protocol is porting to new blockchains.

ZRX coin meanwhile remains the same ERC20 token, trading at $1.62 with a 330 performance this year. ZRX -0.16% 0x Protocol / USD ZRXUSD $ 0.23
$0.00-0.16% Volume 9.41 m Change $0.00 Open $0.23 Circulating 847.5 m Market Cap 191.61 m 1 y Neon Labs Integrates Cross-Chain EVM Solution Into Solana, Bringing Ethereum Dapps to the Blockchain 1 y 99% of Cryptocurrencies are 'Overpriced' per DCG’s Barry Silbert, But ETC Isn’t One of Them 1 y Polygon And 0x Team Up to Devote $10.5 Million Into Attracting New Users & Developers