13-04-2022

Each chain in DeFi have multiple decentralised exchange known as dex and smart BCH also have but more than multiple dex even a big Defi chain doesn't have new Dex coming out everyday

But smart BCH is totally different where every project wether it's a dex or a NFT marketplace or a project is nothing more than a business

Everything is fine copied projects is good, scam happening is fine but these dex are not good for a small chain

Coz it's dividing money in TVL to different dex. Let's say Smart BCH TVL is $35 million and there's 15dex overall than if we divide equal money to every dex than each Dex will carry $2.33 million but this is only an example which will never happen

Coz top dex like benswap and mistswap or tango will always hold the most of Smart BCH TVL unless we've some famous or popular dex coming itself like verse.

Now dex are increasing and coming every week or day which isn't good for them coz they'll fail eventually coz now peoples are mature enough to not chase high apr.

More than 3 dex launched in just a month

This month was only for new dex coz more like 3 different dex launched already and yet more than half month is remaining

So firstly verse dex than koingfu dex and now honk dex it's all fun and good

But I'll vote for developing something else than making NFTs collection or dex believe me DeFi is more than dex or NFTs.

I've only seen two things in Smart BCH in these past 8months

• New dex

• New NFTs collection

And that's it, more like 4-5 legit project worth to invest in others are meme tokens or whatever.

Honk dex launched on SmartBCH

It came out of nowhere like Honk was going to die almost it dropped badly after having no use case or hype so than a day or two back heard about an announcement of their dex going live in few hours

I saw this poster and realised why honk is pumping like crazy. So i didn't knew about it will be a fork of emberswap literally didn't knew until last moment.

A fork of emberswap

Honk will be second dex on Smart BCH forked dex previously tango was a fork of mistswap and now honk though common thing is both dex was decentralised on Smart BCH.

UI is same like emberswap coz it's a fork of it and also without few other things.

So verse will be only original dex rest are forks of some others.

Anyways after a horrible experience with emberswap where I've lost more than a BCH why would i still go and try honk dex.

Knowing honk isn't even in top Smart BCH project it doesn't have like $10k liquidity in total but wait still I've decided to risk some money.

As i knew honk prices are already at point where it can't go much down.

Some missing features

It's not same like emberswap in some cases like they only have farms, no vaults or no analytic feature and no governance.

Though it will be a small dex as of now and this is how they've found dev to make this dex

So this is actual story while hiring a dev to make dex and dev decided to make a fork of emberswap after hearing about annual salary in honk.

Limited Farms in honk dex

Farms are very limited like only few farms of different pairs available and i choose to farm as well

TVL isn't huge like other dex though apr are already well balanced to counter inflation and so far it's good to farm with such high apr.

Still lot's of peoples don't even know about this dex but after this article many of peoples will notice it.

For now highest Apr farm is Honk-Flex coz of only $550 in that farm.

Maybe a single of two peoples in that farm and most of farms there's only couple of peoples farming and I choosed second farm for myself.

I'm farming honk with stable coin

Impermanent losses are always permanent after a worst experience in emberswap i won't ever risk in any dex and coz I've some honk in my wallet since I'm a holder for so long that's why decided to throw in farm and forget about it

I choose to farm honk with flexusd and so far in just a day i made $1 losing $3 coz of IL.

Seeing chart of honk i can say it won't dump further more or no one else will dump it coz it's already too low without much liquidity

And they're working on a game and NFT or marketplace as well for now it's in their roadmap and more will be included with the time so I'll hodl it.

My journey so far with Honk

I've bought honk when i saw it is crashing after losing a farm in mistswap it fell down badly, from more than $100k in liquidity to less than $10k

I saw this as an opportunity and decided to keep buying more and more.

So as long as it was going down i kept buying and doing DCA so after a month of holding Honk i saw it's pumping and in a week or few days more like 300% increase in prices

And i paper handed some while it was pumping coz i was over invested in it and than re invested a little amount and it was a good choice coz in a few days i got 2x and took exit.

With profit I'm farming in Dex and I'll keep it their till it's new all time high.

Anyways that was all for now. As always I'll end it here hoping this dex will be last dex launched on SmartBCH.