Staked BCH vault filled - again (Vietnam)

About two months after the pool size for the staked BCH vault got expanded, Vietnamese Instant Cryptocurrency Exchange BitcoinVN can report that the available pool size is by now fully allocated.

Currently no immediate plans exist to increase the vault size further, unless a strong uptick in daily BCH volume might make it necessary to increase liquidity provisions.

As of late December 2022, sBCH (“staked BCH”) holders can earn about 25% APR on their staked BCH holdings on BitcoinVN.

As can be seen in the chart below, the staking yield on BCH has been higher for the most part of the year compared to some of the closest Proof-of-Work competitors out there.

If one is taking a look at the non-stablecoin volume on BitcoinVN some further surprises show up in the data:

One of the more curious results for the year of 2022 was that the BCH → VND swap volume (14.3%) even thwarted BTC → VND swap volume (11.8%).

The most popular swap remained VND → BTC (45.2%).

BitcoinVN allows the swapping of (as of time of writing) 80 different digital assets - among them the option to cash out into Russian Ruble and Vietnamese Dong (no limits and no KYC).

sBCH is (necessarily) a custodial asset; depositors are regularly made aware of the risks of giving up self-custody in exchange for the returns provided by provisioning liquidity to the exchange platform.

Further details of the staking mechanics on BitcoinVN are described here.

This article has been produced by the BitcoinVN News desk and is published exclusively on read.cash.

Further public statistics of Vietnam's oldest Bitcoin Exchange service provider BitcoinVN can be found here: https://bitcoinvn.io/stats

For individuals and projects looking to hook up their services to the BitcoinVN API, the documentation can be found here: https://bitcoinvn.io/api/doc