Decentralized crypto exchange Rubic announced that it has integrated with Binance Smart Chain, Binance ecosystem’s DeFi focused network. Following the integration, Binance Smart Chain users will be able to create tokens, conduct crowd sales, and engage in trading on the decentralized trading platform.
— Rubic (@CryptoRubic) October 23, 2020
Binance Smart Chain is Binance’s answer to the growing competition in the DeFi space, which also happens to be the fastest-growing segment in the crypto-blockchain industry. It functions as a bridge between the Binance Chain and the Binance DEX, enabling the best of both sides for the users. Rubic, on the other hand, is a multi-chain DeFi network that allows the creation and decentralized trade of DeFi focused tokens on a single platform.
In the official announcement on Medium, Rubic stated that users will now be able to create a token on the BEP-20 architecture and start trading on the platform. It further listed the features of this P2P trade, which includes option to lock liquidity, enabling crowd sale, no volume limits, public and private trade deals, etc. Therefore, it provides a host of new possibilities to the Binance Smart Chain users, making it a much better proposition than its competition.
With the prolonged extension of global social lockdown due to the COVID19, the demand for decentralized financial products is expected to grow even further. A large number of opportunities are expected to arise out of this growing demand, and every potential player is eager to reserve a share from the pie. However, DeFi infrastructure still has a lot of scope for improvement, making collaborations like these vital for the industry.