To Remeant With SmartBCH: Tasting The Waters Of The New VERSE DEX V1 Developed By Bitcoin.com
April 06, 2022 - Wednesday, 11:55 PM
The last time I was active with SmartBCH was before super typhoon Odette ravaged my place back in December 16, 2021 to be exact.
With all honesty, I didn't plan on being inactive with SmartBCH in the first place but after the TYPHOON, everything went backwards. I was left with no choice but to stop because almost all of the electrical post were down, no electricity at all ang cellular phone signals. It was so hard during this times and signal's was restored after a week but the mobile data connectivity is crawling like a turtle and worst is, sometimes it won't work at all.
Having said all of this, you can easily tell I was just forced to be inactive and during this time also, BCH and SmartBCH Tokens market was on fire while downtrending and on a bearish one.
After more than a month of inactivity with SmartBCH, now I want to be back on the right track again.
Coming Back Again For SmartBCH
As of this date and time of writing, I decided to comeback again with SmartBCH and be active. Wanna know the reason why? It is simply because of the new onboard DeFi Exchange (DEX) on SmartBCH and I am fully interested in it.
My initial plan was supposed to be a return to SmartBCH once the Bitcoincash (BCH) market value breaks the $600 mark again but it was cut short. The good thing is, SmartBCH is to young and that there will be more projects to be launch on its chain every now and then.
One of the newest DEX on SmartBCH was launched yesterday and it is developed by Bitcoin.com, one of the best e-wallets that I've been using up until now and if we talk about reliability, Bitcoin.com is been in the crypto-verse since 2015. Knowing how reliable Bitcoin.com is, it pushes and leads me into diving to its latest path to improving and upgrading the wallets features.
Tasting The Waters Of Verse DEX V1
Earlier today, I went on to try and experience the latest DEX on SmartBCH. The DEX design is a little bit different from all the previous DEX I have used with my SmartBCH tokens.
To complete the experience, I did invest on Verse DEX right away by adding a small amount to its Liquidity. The amount I have added to its liquidity was just too little because it is just what I can afford to lose because adding Liquidity to a DEX Pool is to risky. I'm taking it also as a support to the DEX and not an investment.
For those who doesn't have a clear understanding of what is Liquidity, I'll try my best to explain it in the simplest way I could from my personal understanding.
Note: "I'm not an expert with this and you can do your own research for better understandings."
Liquidity - in crypto-world, it is the most vital feature of most DEX's. It is the collection of added funds by the Liquidity Provider (LP) that is locked on a Smart Contract. This collected liquidity will be called Total Value Locked (TVL) where in it will cover all of the DEX transaction expenses from all it features, from swapping, yield farming and pool staking. In exchange to it, the DEX will earned from the fees which will also divide a portion of it to all its Liquidity Provider.
How To Add Liquidity On Verse DEX
On your Smart BCH wallets, used the browser menu in order for you to easily reach and connect to Verse DEX using only the link below:
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Once the DEX opens, it will show you this as home page and then tap "Connect Wallet" on the upper right corner of your screen.
(Source: Verse Dex via My MetaMask SmartBCH Network Wallet)
Next thing to do is tap on "My Investments" and it will opens up what you can see on the screenshot above.
For now, it only offers two pairs of Pool/Liquidity and I have chosen BCH/flexUSD, because it is more safer to add liquidity when you paired it with stable coins.
Then tap "Invest", it will opens up another page that will look like this, start on the left side first then inputs the amount of BCH you want to invest which will need also and equivalent of flexUSD as pairs. I only chooses $5 with my investment which makes it a total of $10 all in all.
(Source: Verse Dex via My MetaMask SmartBCH Network Wallet)
After adding your desired amount to invest, tap on "Unlock and Transfer Funds" below. It comes with to transaction confirmations and the gas fees.
(Source: Verse Dex via My MetaMask SmartBCH Network Wallet)
Once your transaction went through as successful it will show a "Done" button below and tap it and your all done.
After you tap Done, it will bring you again to the My Investment page at your added liquidity will be visible already.
(Source: Verse Dex via My MetaMask SmartBCH Network Wallet)
If you will tap the "View" buttom, this screenshot below will show up, but sad to say for now, the earning we have accumulated isn't available to show as of the moment.
(Source: Verse Dex via My MetaMask SmartBCH Network Wallet)
After than tapping View, it is for the unlocking and withdrawal of your added liquidity and it also comes with two transaction confirmations once you decide to withdraw your added liquidity.
That's all for now and let's all wait for the Verse Token to be launch and for sure, many are patiently waiting for that moment.
Hello there Chill'hustlers!! 🙋🏽♂️ That's it
for today and as always, I'm glad you
reach the end again, thank y'all for
always sharing your day with me, see you
on the next one Chill'hustler's. Have a
chill vibe month of April and stay hopeful
cause better days are comin', Good vibes
always, Jah bless and PEACE ✌️!!! 🙏🙇
Adieux..!!!
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Title : To Remeant With SmartBCH:
Tasting The Waters Of The New
VERSE DEX V1 Developed By
Bitcoin.com
Author : @Carewind - 98th Article
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Anong token yung makukuha if mag invest sa pool lods?