AliArshadswl

Decentralized finance (Defi)

Hello everyone, this time we deploy a simple decentralized finance (Defi) smart contract project on the Binance Smart Chain (BSC) through ChainIDE. This project contains two ERC20-based tokens. We temporarily call these two tokens ChainToken and RevenueToken (hereinafter referred to as CT and RT). CT is used to simulate the digital currency held by users themselves and RT is the interest obtained after the user pledges CT. The workflow of the entire Defi project is executed by a Farm contract. The user pledges the digital currency, he/she holds into the Farm contract. The contract generates RT according to the amount of pledged by the user and returns it to the user as interest.

Tools used in the project

1. Binance IDE
2. Metamask (connected to BSC Binance Smart Chain)

Connection Method

Open the MetaMask Little Fox and select the c

AliArshadswl

ChainIDE Deploys Binance Smart Chain (BSC) Contract

Preface

Friends who have some knowledge of digital currency should know about Binance. Binance recently launched a blockchain that is compatible with Ethereum (EVM) and runs smart contracts, called Binance Smart Chain. This chain uses proof of stack alliance (POSA) to conduct node election and consistency verification. Participants use BNB mortgage to participate. If the verification transaction is successful, a valid block is proposed, and the transaction fee in the block will be charged.

What we, at WhiteMatrix Academy want to introduce today is how to deploy a smart contract on BSC using Binance IDE and Metamask.