Looking at the performance of Ethereum’s Decentralized Exchange (DEX) in 2020, the total transaction volume in the first six months exceeded 3 billion US dollars. Given the total transaction volume in 2019 was 2.4 billion US dollars, it’s fair to say we’ve seen explosive growth. Since the beginning of 2020, DEX trading volume has risen sharply. In January of this year, the weekly cumulative trading volume of major DEXs averaged approximately $61 million. Only three months later, the average transaction volume in March increased by 213%, to approximately $193 million. The biggest change came on Black Thursday, March 12th. Due to the COVID-19 pandemic, the price of crypto assets was slashed in half and the trading volume of major DEX’s totaled more than $400 million that week. In the same year, Huobi, Binance, and OKex also launched their own public chains, which made the trading volume of decentralized exchanges larger and helped increased adoption with rapid development. In turn, volume and revenue has increased and there’s no shortage of prominent, high-quality projects coming up through the woodwork.
- Berry Data, a shining star on Binance Smart Chain
In September 2020, Binance introduced something new. The original Binance Chain had been around a while and was based on Cosmos architecture, which offered a decentralized exchange at its core. However, there were inherent challenges with this technology but of course, Binance had the solution. Along came Binance Smart Chain (BSC), a blockchain-based on the Ethereum architecture with a decentralized financial ecological platform at its core. We believe that the Binance Smart Chain and the Ethereum ecosystem will live side-by-side in a decentralized financial world destined to provide positive change for the planet. Berry Data is determined to be a shining star on BSC and we’re proud to say we’ve accomplished so much in such a short time. On February 16th of this year, the Berry Data IFO reached a stagering 18,760.04% over-raise and set a new record on PancakeSwap, achieving a commitment level of $187,604,000 US dollars from the BSC community. It only took 60 minutes to make Berry one of the craziest IFOs ever. As of February 17th, Berry Data’s total market value reached $98,400,000, making it 534th on CoinMarketCap; oh and let’s not forget there’s already 18,444 token holders, and all this in just a week… but here’s the kicker – we’re only getting started!
Berry Data is a transparent and community-verified price oracle on BSC (Binance Smart Chain). Berry Data provides a decentralized alternative to off-chain data. In addition, it also provides an infrastructure for decentralized applications to query off-chain data by incentivizing miners to provide data. As the token of the Berry Data network, $BRY aims to empower a wider DeFi ecosystem to drive the ability to create a fully transparent, open source oracle platform owned by the community on Binance Smart Chain.
- BRY Token total circulation of 12,500,000
Berry Data implemented a 23% ecosystem fund. Handled by Berry team management, the funds will be used in the following ways：Incentive data collection and verification; Incentive technology development and new open source Dapp; Incentive governance participation. Owning BRY can also be used to pay for Berry data fees and vote on governance issues; to verify data through mining, jointly establish a Berry ecosystem and other rights.
- Looking forward and the future of Berry Data
At one point, the Berry Data market capitalization reached $98 million, making it 40 times the price it was during the IFO. At the same time, 24-hour trading volume was up to $23,436,389. The actual number of daily active members on the telegram community remains above 15,000. For a project which has been online for less than a week, the performance of Berry Data is nothing to bat an eye at.
The first step in Berry Data’s future is planning to enable more mining pools to bring the greatest benefits to all BRY holders. In addition to the token-holding mining activities in cooperation with PancakeSwap and BakerySwap, the mining pool on the Berry Data official website will start on March 1st.
Apart from the Berry Data mining team, there will be more focus put on the development of the entire ecosystem. We’re building more partnerships with other projects on BSC and with this comes our ability to provide better transparency on price information and data. So far, Berry Data has established partnerships with PancakeSwap, BakerySwap, Certik, CoinGecko, CoinMarketCap, Tenet Farm, Helmet.insure, among others.
Berry Data will provide oracle partners with on-chain price feeds to facilitate them to obtain better and useful data, all while providing better services and products within the Binance Smart Chain ecosystem.