Vidy has grown rapidly in 2021. Right at the beginning of Q2, we announced a partnership with Media Publishares on building an NFT platform catering to the fashion, music, and art industry. Following that week, Binance joined our duo on powering the NFT platform’s underlying technology. This year, as we are dedicated to accelerating into the NFT space, we are further expanding our ecosystem, and thereby going multi-chain: VIDYX will be simultaneously deployed on Tron and Binance Smart Chain (BSC). This is our first time going multi-chain but we will continue to evolve and may integrate into more networks as we march forward.
The expansion into BSC marks the logical next step for Vidy’s DeFi mapping. DeFi alone has met unprecedented progress in 2021. On January 1st, DeFi gross value locked (GVL) has reached an all-time high of $17.8 billion. In shortly 5 months, at the time when this article is written, GVL has reached another all-time high of $121 billion, which is more than 6X of stats from the start of the year.
Of that $121 billion GVL, BSC sits on $35 billion, with the BSC-based Pancakeswap locked nearly 11 billion, surpassing Uniswap, making it the biggest DEX.
Vidy’s expansion to BSC opens up exciting new possibilities. Vidy has over 150 million user base and partnered with 75+ notable publishers. Stepping forward, we are bringing our resources into the NFT space and further endeavoring to explore the endless possibility of metaverse — the ultimate virtual world integrating all existing NFT and DeFi elements. A new ecosystem will be built based on VIDYX’s tokenomics to become the next-gen digital identity and entrance for on-chain metaverse, leveraging on the resources of Vidy and its network of partnerships.
In the meantime, VIDY will continue to stay in the Ethereum network as the project’s utility token. We will reveal more details as Vidy evolves. Thank you everyone for your support and patience. Hang on tight, what a ride!
Stay tuned for more information on the VIDYX multi-chain deployment progress.
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