After Binance's $100 million DeFi "bridge" on BSC, will there be no more Big Three?
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After Binance's $100 million DeFi "bridge" on BSC, will there be no more Big Three?
Binance Smart Chain (BSC) aims to serve as a bridge between the DeFi and CeFi worlds, connecting all public chains and assets.
Navigating Web3 tides with focused insightsIn early spring of 1996, a massive billboard was erected at the southern gate of Zhongguancun in Beijing, reading: "How far are the Chinese people from the information superhighway—1,500 meters north." This day is considered a milestone in China's internet history.
On September 1, 2020, a similar new billboard rose within the blockchain industry: How far is the world from the new DeFi superhighway—0 meters, Binance Smart Chain.
Unlike in 1996, when this new billboard went up, an initial consensus had already been established.
Late on September 10, Hong Kong time, just 10 days after Binance Smart Chain (BSC) launched, Binance CEO Zhao Changpeng announced a series of重磅 positive developments at The World of DeFi conference: Binance has established a $100 million seed fund to support DeFi projects and developers on BSC, further promoting synergy between CeFi and DeFi ecosystems.
This marks the formation of the highest-level collaboration ever seen between the largest centralized platform in terms of assets and users, and a decentralized public blockchain. No one has done this before in history.
CZ also stated: "In the future, BSC will provide more application scenarios for various mainstream tokens, promoting large-scale integration of DeFi, with an initial bridged asset volume of $1 billion."
Apparently, BSC’s ambition extends beyond being just a public chain highway—it aims to connect all public chains, becoming the bridge between highways.
As someone in the community remarked: "BSC is doing something groundbreaking—breaking down all barriers between public chains."
As Binance co-founder He Yi put it: From now on, all roads lead to Binance.
I. A Super Bridge Between CeFi and DeFi Worlds
The day before the official announcement, communities across blockchain were buzzing about this "open secret." Nobody knew exactly what it was—Binance has so many business lines—but some eyes turned toward BSC.
"Will we mine with BNB on BSC?" "Is Binance Swap launching?" "Issuing a stablecoin on BSC?"
These speculations have either already come true or are soon to become reality on BSC.
Binance Smart Chain (BSC) aims to be a bridge between DeFi and CeFi worlds, connecting all public chains and assets—this is no empty slogan.
According to public information, BSC recently launched its bridging initiative, the "Token Canal Program," which uses Binance's secure custody services to bridge tokens from various existing blockchains onto BSC. For example: BTC from Bitcoin, ERC20s (ETH, LINK, USDT, DAI, etc.) from Ethereum, XRP, BCH, LTC, ADA, DOT, XTZ, EOS, ONT, and more.
Moreover, starting today, BSC will launch its first batch of on-chain DeFi mining projects, supporting mining with mainstream coins such as XRP, BCH, LTC, ADA, DOT, XTZ, EOS, and ONT (as set by individual DeFi project rules), proving the saying "all roads lead to Binance."
Put simply: In the future, you can transfer your various tokens to BSC to participate in AMM, liquidity mining, and other DeFi activities. You can also easily move tokens from BSC back to Binance's main exchange or other networks to enjoy spot trading, futures, Binance Savings, and other products.
With just one Binance account, users gain one-click, secure, and convenient access to all CeFi + DeFi products and services.
What does BSC’s "Token Canal Program" mean?
As CZ summarized, it offers four key advantages: secure custody, comprehensive cross-chain token services, unified liquidity, and privacy protection (no KYC required).
This means BSC will enable interconnected DeFi protocols across multiple blockchains, laying solid infrastructure—the bridges of the superhighway—for the future "internet of value."
II. $100 Million Seed Fund, $1 Billion Liquidity: Anticipating the "Hundred Regiments Offensive"
CZ said Binance will launch a $100 million seed fund to support participants in the BSC ecosystem.
Binance is putting real money behind the growth of DeFi on BSC.
Today, BSC simultaneously launched a DeFi project pitch competition, where top-tier projects can receive up to $100,000 in investment, with the BSC community participating as early investors and governance members in project development.
Beyond seed funding and governance participation, Binance’s ecosystem will offer full support and incentives to partners, including access to Binance’s tens of millions of users, media outreach, educational resources, incubation and financing, derivatives, wealth management, and other integrated resources and capital.
Additionally, BSC will assist DeFi projects with security audits. It is reported that BSC has established a fast-track audit channel with Certik.
Binance will also provide early liquidity to projects that pass security audits. Understandably, early liquidity is crucial for project launches, and BSC aims to help quality projects get off the ground this way. Current liquidity can already be viewed on bscscan.
Beyond initial construction support, outstanding projects may even be listed on Binance’s centralized exchange.
In short: Binance and BSC will offer DeFi protocols a full suite of services—support, early liquidity, security audits, and even listing opportunities.
It’s easy to imagine that as Binance’s “core” public chain, BSC and its projects will receive full backing from Binance.
Some DeFi teams sensed the momentum faster than others.
At today’s conference, CZ also revealed five newly launched projects on BSC: Cream, ForTube, SpartanSwap, BakerySwap, and Bounce.finance.
As of September 11, nearly 20 partners are already deploying on BSC. "Next week, we’ll announce another 10 new partner projects," CZ added.
Events are unfolding as Zhang Xiaoguang, head of Binance Chain Ecosystem, predicted on launch day: "Going live is just the beginning—the next two weeks will be the busiest."
Under such strong incentives and support mechanisms, it’s foreseeable that more and more projects will join the BSC ecosystem.
"We welcome hardcore DeFi players to come play on Binance Smart Chain. In our first phase, we hope to see a 'Hundred Regiments Offensive' on BSC," Zhang Xiaoguang invited more projects to join the BSC race.
III. Explosive Growth Potential of BNB
Looking deeper, BSC’s series of重磅 moves represent another powerful catalyst for BNB’s long-term value.
BSC uses the Proof-of-Staked-Authority (PoSA) consensus mechanism, operating on a network of 21 validator nodes. These nodes earn BNB rewards by performing tasks, producing a block every three seconds—an algorithm balancing stability, high efficiency, and incentive structure.
All 21 BSC nodes are open: as long as you hold sufficient BNB, you can become a node on BSC.
Some question: "Why should I run a node on BSC when I can just stake my BNB on the main site and earn passive income?"
Zhang Xiaoguang addressed this: "BNB stakers will in the future enjoy all DeFi staking returns across Binance, including governance rewards from BSC and returns from BNB-based DeFi products on Binance’s main site."
In other words, BNB holders will not only benefit from staking and governance participation on the smart chain, but their rights and benefits will be fully shared and interoperable with the main site—including multiple returns from BNB on Binance, high-yield annualized returns from Binance Savings, Binance Mining, and BNB staking, among others.
As the sole value token of the Binance ecosystem, BNB will seamlessly span both CeFi and DeFi, enjoying use cases and growth dividends from both sides.
This is a major positive for BNB’s long-term value performance.
IV. Beyond BSC – Binance: The True One-Stop Cross-Chain DeFi Aggregator
Upon closer examination of Binance’s DeFi strategy, it becomes clear that their ambitions extend far beyond BSC—Binance has strategic positions in trading, wallets, stablecoins, staking, and more.
Based on the latest data from Binance’s new token mining program, the first-day locked value reached $600 million. Additionally, Binance already offers Binance Mining (BSwap) and staking mining products to meet diverse user needs.
According to insiders, future mining products are likely to debut first on the smart chain. Stablecoins and BNB will thus directly capture the upside of the DeFi world.
Moreover, sources indicate that the BSC global community may launch its own Swap next week to further engage with the BSC ecosystem.
Binance’s investment arm is also highly active. As of the end of August 2020, Binance has publicly disclosed investments in several DeFi startups, including DEX platform 1inch.exchange, collaborative analytics platform Dune Analytics, Injective Protocol, oracle Tellor, payment network Terra, and derivatives protocol Strike Protocol.
Frankly speaking, Binance could potentially build its own wallets, protocols, or aggregators within the DeFi space. Yet BSC chooses to open up, welcoming DeFi partners to participate and actively supporting them through a $100 million seed fund, $1 billion in bridged assets for initial liquidity, and a full suite of turnkey services.
Compared to other top CEX players who haven’t yet launched their own open-source public chains, this series of重磅 moves reflects Binance’s greater ambition and vision—to heavily invest in building foundational industry infrastructure. Binance Smart Chain aims to become the bridge of the new DeFi superhighway, interconnecting all public chain highways and enabling users to go anywhere they want.
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