The BNB Chain is home to many decentralized applications and protocols. Several projects have carved out a strong market position, although retaining users remains the primary objective. These are the most popular BNB Chain Dapps for the past month.
No one is surprised to see a decentralized exchange top the dApp rankings. Whether it is on Ethereum, BNB Chain, Polygon, or other networks, DEXes are the lifeblood of dApp activity. They make it easier for people to swap between on-chain assets without using an account or verifying their identity. PancakeSwap is the biggest decentralized exchange on BNB Chain today and noted 1.37 million users from January 11 – February 11.
It seems unlikely any other dApp will dethrone PancakeSwap in the future. No other applications come near one million monthly users or even half that. A bit problematic, as such steep differences confirm developers’ struggle to captivate users’ attention. Even so, the next prominent dApp may be around the corner, but they may not be able to compete with PancakeSwap.
Most people may have heard about Hooked but remain uncertain about what it is. Hooked positions itself as an on-ramp layer for Web3 adoption through community-owned economies. Regardless of one’s experience, Hooked makes it easy to access, earn, and own a share of crypto. Furthermore, the dApp can benefit builders looking to transition their Web2 app into a Web3 version.
At its core, Hooked offers a gamified educational ecosystem spanning classic Web3 concepts. In addition, users can complete quizzes to earn rewards, refer new users, and explore non-fungible tokens. There’s a growing demand for educational content regarding Web3, which explains why Hooked had over 356,000 monthly users on February 11.
Even though PancakeSwap is the largest DEX on BNB Chain, other competitors exist. One of the first decentralized platforms to explore cross-chain opportunities on this network was 1Inch. It remains a major trading platform for tens of thousands of users, although it doesn’t have the recognition of Uniswap, PancakeSwap, or even SushiSwap.
That said, 1Inch remains relatively popular on the BNB Chain. It noted over 119,000 monthly users as of February 11, 2023. That is a respectable number but less than 10% of the PancakeSwap user base. Closing the gap will be a steep uphill battle and may prove nigh impossible. Even so, 1Inch remains successful in its own way, even if it has just $1.25 million in TVL on BNB Chain.
There is substantial interest in exploring the opportunities a decentralized internet and other Web3 environments presents. Building the necessary infrastructure to achieve that goal is paramount, but it will take a few years. Galxe wants to become a leading Web3 credential data network to help brands and developers engage their communities and build new projects and services.
As more people aim to build their digital identity and access tokens, airdrops, NFTs, and more, solutions like Galxe will gain traction. With a current monthly user base of 92,500 users on BNB Chain, the dApp is off to a good start. However, the project is a cross-chain dApp supporting Polygon, Solana, Avalanche, Optimism, and Arbitrum.
The post These Are The Four BNB Chain dApps To Watch In Q1 2023 appeared first on CryptoMode.
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