I can't help but think that the opening of the ether mining pool on Binance ought to drive smart money away from the Ethereum mainnet very soon. It won't, but I can't help but think it. The pool features a 0.5% fee commission on profits, and, of course, the exponentially lower fees of interaction with a BSC smart contract.
But seriously. All of the projects I'm in have migrated over to Binance from Ethereum, Dego and Axie Infinity to name just two. And they both run MUCH more smoothly on the Binance Smart Chain. The lower fees allow investors like me, a non-whale, to dip a toe in the water of these speculative investments without the need to invest four digits just to have a chance at profit.
I also see faster transactions, fewer transaction failures (I don't think I've had a transaction fail yet, actually) and less slippage. Gone are the days that I actually time a good trade only to see the opportunity slip between my fingers because Ethereum mainnet Metamask decided not to finalize my trade. There are also fewer bots to frontrun your trades and many fewer scams in general.
What is the downside here? Furthermore, why do ETH maximalists INSIST that the mainnet is the end all be all of everything? Folks, Beacon Chain may not even be able to deploy because the staking minimum doesn't look like it's going to get met. And like I said before, that has to do with the community more than ETH being able to outpace third party protocol rewards. The Ethereum network has unfortunately cultivated a truly degenerate community that prioritizes individual profit over the good of the whole, although crypto was supposed to kill this zero sum game.
Unless something changes drastically, I'm done investing in Ethereum mainnet projects unless I get an airdrop from the project before it starts. I refuse to add ETH liquidity to any new mainnet projects any more. You're not even getting my old UNI tokens from the airdrop, so don't try it.
Ethereum, catch up.