Aave's integration with BNB Smart Chain enhances DeFi opportunities, offering top-tier lending platforms and increased liquidity. BNB Chain's 2024 goals include opBNB introduction for scaling and fusion with BSC.
In a noteworthy development within the Binance Smart Chain (BSC) ecosystem, Aave (AAVE), a major decentralized finance (DeFi) market protocol, has declared its integration with BNB Smart Chain. Aave joins well-known projects such as Uniswap, Ambit Finance, PancakeSwap, and Lista DAO.
BNB Chain Embraces Aave
As per the declaration, this recent advancement introduces fresh opportunities for BNB Chain users, granting them entry to what the protocol terms as “top-tier lending platforms” and increased liquidity.
With the debut of First Digital USD (FDUSD), users are now able to utilize “strong” liquidity, enabling them to delve into various applications and prospects within the Binance ecosystem.
Conversely, Aave users can now take advantage of BNB Chain’s fees and the capacity to integrate with one of the largest DeFi ecosystems, nurturing enhanced collaboration between the two communities. The announcement also highlighted the following regarding the Aave integration:
This not only supplements but strategically aligns with BNB Chain’s 2024 vision. Focused on widespread adoption, high-frequency DeFi applications, and enhancements in network efficiency, the ecosystem is poised for an intriguing transformation.
Objectives for 2024
Gazing forward, BNB Chain has established numerous objectives for 2024. The rollout of opBNB – the Layer 2 (L2) scaling solution for the BNB Smart Chain – aims to accomplish a transaction processing capacity of 10,000 transactions per second (TPS) by doubling the gas limit to 200 M/s.
This surge in capacity is accompanied by reinforced security measures through multi-proof mechanisms. Additionally, the implementation of Ethereum’s EIP4844 and Greenfield’s data availability upgrades will slash gas fees by 5-10 times, furnishing users with a more economical experience.
In a maneuver dubbed “BNB Chain Fusion,” the BNB Beacon Chain is slated to merge with the BSC, further amplifying the efficiency and security of the network. The enlargement of the number of validators, projected to ascend from 40 to 100 by 2024, is also anticipated to bolster the stability of the network.
Market Capitalization And Token Holders Surge
According to Token Terminal data, the BNB chain has witnessed substantial growth, evidenced by various key metrics.
One notable metric is the fully diluted market cap, presently standing at $75.71 billion, marking a notable surge of 23.9% over the past 30 days, underlining the confidence in the protocol.
The circulating market cap, another pivotal indicator, currently registers at $54.73 billion, showcasing a robust 11.6% expansion over the same 30-day period.
On the flip side, the count of BNB token holders exhibits an upward trajectory, reaching 113.51 million, with a significant uptick of 3.5% in the last 30 days, signaling enthusiasm in the ecosystem.