I said survival is never an easy thing especially when plenty of challenges ahead waiting for you to come ahead and we all know SmartBCH is a better Side chain on DeFi but it's not fulfilling the true promise of DeFi

Which will be done by Sha-Gate Upgrade coming after one month of SmartBCH first anniversary.

Ain't it's exciting only 1 more month left and than SmartBCH will be one year old but also we're failing not a fault of SmartBCH but this bear market at wrong time

Impacting SmartBCH a lot, seeing new money coming in and going out everyday and also centralization makes success a bit more complicated.

Coinflex paused SmartBCH withdrawals

Recently we all heard that Coinflex has paused the withdrawal of SmartBCH and all also they have full control over BCH locked in SmartBCH

It's completely centralised as of now and i bet everyone knew about it already nothing bad neither I'm saying Coinflex is running away with BCH it is supporting SmartBCH or BCH (AFAIK) correct me if I'm wrong.

But DeFi meant to be decentralized which means you're your own bank no Coinflex involvement neither any government regulation's etc.

According to Coinflex they've paused because of extreme market conditions. They've said theirs no other problem at all (AFAIK).

Estimated time for withdrawal is 30th June after 3 days from now and we'll get an update about the fix today.

It didn't only paused SmartBCH withdrawal but also Coinflex.

Bridges b/w SmartBCH goes through Coinflex

If you don't know in flow or out flow from SmartBCH is through Coinflex all the bridges like hop.cash, mistswap and Coinflex itself.

We used to deposit BCH into SmartBCH through Coinflex than other bridges like hop.cash and mistswap arrived which makes thing easier or fast but was still going through Coinflex

As far as i know right now No one is able to take BCH from SmartBCH to mainnet unless it is through BlockNG bolivar bridge.

Sha-Gate Upgrade can Fix this issue

The only reason I'm saying Sha-Gate upgrade is important for SmartBCH survival is because it can fix all these issue's

After 2 months it is said SmartBCH Sha-Gate upgrade will happen means no more Coinflex involvement and completely decentralised sidechain. It also has some other benefits to SmartBCH but according to current situation only this fits here.

In DeFi decentralization is important and matter Most. There are plenty of other side chain with low fee's or also EVM compatible (challenges SmartBCH need to face) Even after Sha-Gate upgrade happens.

For now need to keep building in SmartBCH

As of now SmartBCH need nothing else instead of building in the cold time and I'm seeing a lot of movement, ongoing development and exciting thing's

No matter if it's BlockNG or mistswap, benswap and NFT projects like lad's NFT or Pandaland or joybot like gamefi projects

All of them are building and creating multiple opportunities for people in SmartBCH sooner or later all of project developing now will be on top of ladder.

For now I've noticed from tangoswap to benswap, 1bch or emberswap all of them are building something and working on exciting thing

Trading competition is also running at the moment and NFT project development is also ongoing.

This is the silent before storm in coming time more cross chain bridges or project will help to rise again in the future.

TVL continued decreasing slightly also coz of BCH price fall and also locked BCH decreased a lot

Few months back it was at 120k bch and now only 94k left.

But on the other side whole DeFi TVL went all the way down after crash so not a big deal but not as many loyal whales in SmartBCH as it should be.

Will talk about mean whales i encountered in SmartBCH since the beginning.

Also since verse delayed the sale of verse TVL also went down so right now accumulating some gem in SmartBCH or farming is a good choice.

Though I'm not completely active in SmartBCH staying away from it is much better coz no panic, no problem nor i want any kinda FOMO involving into new projects.

Anyways who's ready for SmartBCH Sha-Gate upgrade i hope it will successfully happen after 2 months from now.