ZCore Finance has added credit card options to its DeFi services and is now attracting investors left and right. Their volume is up 265%, while the platform had 1,890 user wallets in the past 24 hours.
ZCore Finance has been building for two months already, and its user count peaked in the past 24 hours. The newly announced ZCore Finance credit card is initially only available in Brazil but will roll out globally in the third quarter of this year.
The arrival of a crypto credit card in Brazil will be a welcome alternative to the Brazilian population. The country was hit heavily during the COVID-19 pandemic, and still needs to recover. Inflation in the country is spiking, and people could be looking for alternative financial options.
Users can farm ZEFI tokens on the platform or buy them through the swapping service. These tokens can then be moved to the card without any extra costs. The card also supports other tokens, but to add BNB, BUSD or Wrapped Zcore users will need to pay a 4% fee.
The enthusiasm around the credit card and the possibilities of the ZEFI token are clearly visible in the user numbers. The more people will use the card, the more ZEFI tokens will be burned. This would push the value of the ZEFI token up.
Yield farming for groceries
ZCore Finance now offers a scenario where users contribute to a liquidity pool, stake the LP tokens in a farm, and earn ZEFI tokens for doing so. After harvesting, users can move their ZEFI tokens to their card, and then use those tokens to buy groceries.
The crypto credit cards are set to be issued in May. The first 1,000 physical cards will be delivered then. Of course, KYC validation will be required. After the delivery of this first batch of cards, card delivery will take 60 days.
Binance DeFi on fire
In the last couple of days, the DeFi segment for BINANCE Smart Chain has increased dramatically. New players like PandaSwap and PantherSwap have had an impressive launch. At the same time, more established platforms like ApeSwap, PancakeSwap and Alpaca Finance are flourishing.
However, it’s important to note that Binance Smart Chain is no longer the only low-fee alternative for DeFi solutions. Users looking for cheaper alternatives can now also look on the Polygon blockchain, where they will find platforms like QuickSwap and Polywhale.
It’s not without reason that Ethereum is losing its leading position across many important metrics. Binance Smart Chain increased its user base 61% in April alone, according to the DappRadar Industry Report for April 2021. At the same time Polygon quadrupled its daily active wallets. Ethereum however, has only seen approximately 20% growth.