Binance Smart Chain is getting popular with every passing day. This Thursday, one of the leading Dapps of Ethereum blockchain 1inch Aggregator also expanded its operation to Binance Smart Chain.

With this move it also initiated the liquidity mining program on Friday, starting with 1INCH-BNB pool and allocating 0.01% of its total token supply as farm yield to this pool for next 4 weeks.

So this started with a huge 1000% APY for Farming yield + Pool APY. It was difficult to resist offer for me.

But 1INCH has always been unlucky to me. In past too, I couldn't do much with the airdropped tokens due to high gas fee. I didn't had enough ETH for yield farming then. In an attempt to stake my tokens for Governance, I lost gas for approving my spend as I didn't had more ETH for gas for actually sending tokens to contract.

At the time of airdrop. I was getting a good ETH rate but failed to sell tjhem as it was too late night at my end. Then the prices dropped and I had to go out of my city for some work. When I returned, ETH prices were more than doubled.

Later, when I needed to sell them, I failed several times to sell when the 1INCH prices were lucrative and finally sold them for less. It wasted a lot of my time without giving me good results. So I considered these tokens unlucky for me ...lol!

This time, when they started farming on BSC, I didn't had enough money to buy these. However, I managed some funds when market dumped a couple of days back (I'll tell you how in my next post 😉).

But when I provided liquidity on BSC, the yield rate has drastically dropped below 500% and now in 2 days it has dropped below 42% as liquidity has increased to about $19 M.

Why I'm cautioning you about so much hyped yield of over 1000% APY on Binance Smart Chain for 1INCH-BNB pool is because the APY has now dropped below what it's on Ethereum chain.

Check for your self:

Binance Smart Chain: 78.55% APY (Total)

Etherum Chain: 130.93% APY (Total)

Definitely there is some advantage on Binance Smart Chain as Gas fee is only a few cents there. So you can anytime move your liquidity to better yielding pool. But to me, to bring your Ethereum 1INCH to BSC doesn't make much sense at this moment.

However, using 1INCH on BSC is a real pleasure. On Ethereum, I was mostly inclined to choose Lowest Gas Cost over Maximum Return but on 1INCH Gas is a non-issue. So why not always go for Maximum Return amongst the dozen integrated AMMs on BSC 😊

Anyways, I ended up staking my LP in 1INCH-BNB pool. I'd like to stay there for at least a couple weeks and see. But if you can suggest me a better opportunity, do lemme know. I've not thought about strategy vaults on BSC as I'm not investing big there at this time.