![Binance DeFi Blockchain](https://beincrypto.com/wp-content/uploads/2020/09/BIC_binance_smart_chain_defi_blockchain.jpg.optimal.jpg)
Another Uniswap DeFi Fork
BakerySwap, like SushiSwap before it, is another fork of Uniswap. It appears to be just another DeFi clone, adopting similar token farming and distribution models as those that came before it. There is no pre-mine or pre-sale and only 1% of all of the new BAKE tokens farmed get distributed back to the team. It claims to be the first Binance Smart Chain automated market maker (AMM) to offer altcoin liquidity pools. The announcement added that the project is taking full advantage of the Binance community by providing arbitrage opportunities among BEP2 and BEP20 tokens that are hosted on Binance or on its decentralized exchange (DEX).There will be two types of liquidity pools for those earning BAKE token rewards and those earning just a 0.25% share of the trading fees. The BAKE/BNB pool will be the highest-earner but there will be others such as BUSD/BNB, ETH/BNB, BTC/BNB, DOT/BNB, and LINK/BNB liquidity pools. Further pushing the Binance agenda, BakerySwap will launch new pools for any of the projects that Binance itself promotes through its Launchpad platform which it uses for IEOs.Introducing BakerySwap, an AMM Dex on Binance Smart Chain https://t.co/yBEzrCmFXF
— BakerySwap (@bakery_swap) September 12, 2020
![Binance Launchpool DeFi](https://beincrypto.com/wp-content/uploads/2020/09/BIC_binance_launchpool_DeFi.jpg.optimal.jpg)
Is Binance Eating Ethereum?
Everything is looking sunny for Binance, and CEO Changpeng Zhao appears delighted that the platform is eating into Ethereum’s market share:Transactions on the newly launched Binance Smart Chain spiked to 139,279 on Sept 13, according to BscScan analytics. Ethereum had 1,042,047 total transactions for the same day according to Etherscan. Zhao also bragged how Binance’s native BNB token has now reached 10% of Ethereum’s market capitalization. BNB has indeed been on a tear lately, driven in part by the company’s huge push into the DeFi sector with its own range of products and incentives for its customers. BNB has pumped to a 2020 high of just over $32 this weekend, adding around 30% since this time last week. The move has propelled its market capitalization to $4.3 billion at the time of press and has flipped Bitcoin Cash (BCH) in the rankings. BNB has since retreated slightly to the $30.50 price level to kick off the week.#Binance Smart Chain (BSC) transaction volume is now 14% of ETH.
— CZ Binance (@cz_binance) September 14, 2020
BNB market cap is 10% of ETH.
In addition to #BSC, #BNB has a native fast DEX blockchain, burn, discount fees on #Binance, and more… https://t.co/rmrxMhxJvi
![BNB prices](https://beincrypto.com/wp-content/uploads/2020/09/bnbchart140920.jpg.optimal.jpg)
Ethereum Gas Fees Stabilizing But Still High
As anyone that has used Ethereum over the past month or so will attest, the primary concern with Ethereum is network fees. Average transaction costs peaked at around $15 in early September, making the network financially unviable for the ordinary user at the time. The two major spikes over the past month were caused by DeFi farming protocols Yam Finance and SushiSwap, as farmers flocked to deposit tokens and grab their rewards. Since the feeding frenzy has abated, average transaction fees have fallen back to relatively sane levels around $3.30, (120 Gwei on Etherscan).![ETH fees](https://beincrypto.com/wp-content/uploads/2020/09/ethfeesave0914.jpg.optimal.jpg)
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