DeFi lending on BSC is a hidden gem.

By MadMaxx | Psycho Crypto | 29 Apr 2021

Hi everyone and welcome to another article.

In this article, I want to talk about DeFi lending on BSC. 

Lending in general can be quite lucrative if you know what you're doing. I was able to make some VERY large gains on compound in early 2020 when BAT and USDC had absurdly high rates. You can't see those rates today on Compound, but you can see something very similar on BSC.

Enter Venus. Venus is a decentralised lending platform on the Binance smart chain allowing for peer-to-peer decentralised lending of assets.

It is powered by XVS, the platform's native token. However, there's something special about this platform that I want you to see.

Beyond XVS, they have rather high APYs on lending in general. There's a 14% APY on USDC lending, which is completely insane considering the one on compound is less than 3%. 

In addition, you earn XVS when you have your assets in the lending pool. And XVS is not a weak asset.

It has been trending up for a while now, and I believe it will pick up steam once the Venus platform itself begins running too.

In addition, there's the fact that Venus is completely decentralised and still offers Nexo level APYs.

The strategy I have for this platform is simple. I will simply take my USDC and supply it to the pool. Then every month, I will take my earned XVS and supply it into the pool as well.

Of course to make any significant money doing this, you'll require a decent amount of start up capital. But if you're someone that has a pretty decent portfolio and you want to remain safe in USD while still reaping the benefits of crypto in form of gains, I feel this is one of the better ways to go.

What do you think? Let me know down below.

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Thanks for reading!

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In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.

Psycho Crypto
Psycho Crypto

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