FinNexus on Binance Smart Chain

Hello Everyone,

As you know the barrier of Gas Fees putting retail DeFi users to move on Binance Smart Chain. I see a huge window for FinNexus to expand to from Wanchain and Ethereum to BSC. As currently there are none Derivative Excahnges or Options Protocol available at BSC. FinNexus has potential to front run the opportunity.

It will open whole new world of users, co-operation with other native protocols and economic incentives.

Please comment below and Discuss below!

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Hi,
Good idea! It would bring poeple to use Finnexus options plateform. It would be a great advantage to be the first options plateform on BSC (first mover advantage).

Binance is the biggest exchange, people know it and trust it. A lot of people don’t leave the Binance ecosysteme. Being on BSC will allow to attract theese people for sure.

But it requires that Binance lists FNX pair on its exchange. Is that something in discussion? I think the team can’t say more about that publicly.

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Hi Jonathan,

Just to clarify, FNX do not need to be on Binance Exchange. It can directly use bridge ETH to BSC, move ERC20 to BSC20, provide liquidity to PancakeSWAP, may be they open a farm if Pancake Team want to provide CAKE rewards… It should not be tough to move from ETH to BSC as many projects are doing and have done sofar. like CREAM Finance for an example.

BSC Chain is very compatible with ETH and has BSC20 standard not to confuse with Binace chain which has no bridge to Ethereum and has BEP20 standards…

Ok, good to know! Thank you for the information and clarification.

Anyway a FNX listing on Binance would be more than great! :wink:

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I agree that the fees problem will put a ceiling on adoption on ETH. I know the team is working on multiple chains. If there is a priority chain to expand to it would have to be Binance Smart Chain over all the options. I’m not sure how decentralized it is but the volume of users and low fees may be preferable to future users of the platform.

We have already seen how ETH gas fees limited any benefit to the airdrop for most smaller users. It also continues to be a huge impediment to any smaller liquidity providers to enter and exit the pool risking spending more on gas than the reward from mining.

I’m not sure how much work it would take to get FNX on Binance Smart Chain but there is an early mover advantage that makes it very worth it.

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It would definitely give the project more traction as it would be the first decentralized options platform on BSC. Could even lead to a Binance listing. At lot of the more famous ETH projects already made the step (e.g. Cream, Alpha).

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I think new week, you will hear more about BSC, on whether FinNexus will launch on it and how.

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