October 23, 2021
It was the last quarter of August when SmartBCH started to grow exponentially and I dived into its sphere. However, some newbies are yet aware of the existence of the earning opportunities on SmartBCH, or, are skeptical to gamble in the DeFi (Decentralized Finance) world as they find it complicated to absorb everything. Different articles and guidelines about SmartBCH have been posted here on readcash and all you have to do is to read and absorb them all. You can also try them with due diligence.
SmartBCH SEP20 TOKENS
Different SEP20 Tokens were introduced in the BCH community and they keep on growing by numbers day by day. From less than 15 tokens on Marketcap.cash, it already has 34 tokens at the time of writing.
Native tokens of different DEXs on SmartBCH such as EBEN, MIST, MILK, are leading the market by liquidity. While other tokens such as FlexUSD, CATS, AxieBCH, LAW, SPICE, ORB, and KTH are performing great that made them on the top 10. While new tokens such as KONRA, and POTA, are making their way to the top. (Double check EROS, there are some red flags for this project)
Along with the hype of SmartBCH tokens is the invasion of frauds and scammers in the BCH community. So as a practical investor, beware of them and the rug pulls.
SmartBCH Decentralized Finance Gives More Earning Opportunities To BCH Community
Together with the growing numbers of SEP20 tokens were the launching of different DEXs or Decentralized Exchanges on SmartBCH. These platforms allow the BCH community to earn daily passive income while sleeping, through yield farming and staking. Trading on different exchanges also helps users to accumulate more tokens through the basic strategy, buy low and sell high.
DeFi platforms are a good place to allow your tokens to be put at work and earn passive income effortlessly, but with risks of course that need to be taken into account.
We have competing DEXs on SmartBCH:
BenSwap
MistSwap
MuesliSwap
The open-source Decentralized Exchange on SmartBCH, MistSwap is leading the yield farming by the number of LP pools and it currently has 30 LP pools and it provides great incentives for users. The 0.25% on each trade in any chain will be rewarded to the liquidity providers and 0.05% share of fees for staking MIST.
Meanwhile, MuesliSwap recently had extreme APR week to attract more investors and liquidity providers. From two digits APR after the launch, it increased up to 4 digits APR. Currently, the farm has 9 LP pools with great APRs, while the staking pool has 2 pools, the manual and auto pool for staking MILK. But due to extreme APR week, the auto pool has been temporarily disabled and will be re-enabled after the extreme APR week.
Moreover, BenSwap, the very first DEX on SmartBCH is leading the spot, in liquidity, marketcap, as well as DEX features. Users can earn up to 233% APR in farming and 104% in staking the native token EBEN. The Total Value Locked is increasing day by day as more investors use the earning features of BenSwap. At the time of writing, the platform already has $21.3M TVL.
Among the DEXs on SmartBCH, BenSwap is the very first DEX that has been audited with a passing score, and critical findings have been resolved which gives a positive credit to the platform. Aside from staking and yield farming on BenSwap, conducting presale to raise funds and kickstart new projects is also available on IBO (Initial BenSwap Offerings).
**However, BenSwap doesn't back the projects conducting presales on IBO, so investors should be accountable for their actions. Do intensive research about the new project before participating in the presale on IBO. Different issues about scams have been rampant recently.*
The new feature of the platform called vfat.tools also allows its users to track their earnings in yield farming under SmartBCH and other networks listed on the new tools.
In the past few months, we have seen how Decentralized Finance on SmartBCH grows and gives more earning opportunities to the BCH community. Virtual crypto farmers would always look for pools with higher APR and transfer from one farm to another and among the DEXs, it's MuesliSwap that is leading in terms of high APRs.
SmartBCH NFTs Are Booming
Apart from these DEXs, another platform called BlockNG is making noise in the DeFi SmartBCH sphere for its NFT LAWPUNK minting and NFT Marketplace feature. The 10,000 PUNKs have been completely minted by different collectors.
And just recently, two rare PUNKs have been sold at an enormous price respectively.
LawPunk#4 CiZi was the very first LawPunk sold at 6BCH.
LawPunk #3 JustinF***Sun was sold at a shocking price of 33 BCH.
NFT CryptoPunk was introduced in the market in 2017, (if my memory serves me right, that was @PVMihalache who mentioned about this in our TG group). These NFT-ERC are generated with different attributes, from human to apes, zombies, vampires, mummies, robots, and even aliens.
In fact, CryptoPunks is the top #3 NFT on OpenSea (the leading NFT marketplace) based on volume, price, and other categories.
Aside from LawPunks, another NFT on SmartBCH called Poolside Puffers have been sold out in just 3 days! 2100 puffers were sold and 100% of proceeds donated to Orphanage for Disabled Children in Vietnam.
Another NFTs called Barobots can be minted at a very low price at Barobots NFT Aautominer which you can send as gifts while promoting SmartBCH.
Open the given links on the MetaMask browser to start minting NFTs on SmartBCH.
The massive demand of NFT in the crypto market would impact the SmartBCH adoption positively and we would see the SmartBCH NFT market booming in the following days driving BCH price up as well.
SmartBCH's Platform To Mitigate Scammers
As the SmartBCH community rapidly grows, the numbers of scammers and rug pulls have grown as well. These scammers are just everywhere. Invading one community and another to find victims. We have seen numbers of rug pulls on SmartBCH recently that made small investors become skeptical in joining new presales, especially held on IBO
With this, BCHPad has been introduced to mitigate the issue of rug pulls and scams.
The Decentralized IDO (Initial DEX Offering) platform protocol on SmartBCH will not only mitigate the issue of rug pulls but will also help to raise funds and kickstart new projects while securing the funds of the investors with the following features.
FEATURES:
You can read more information about this in my article below.
Related Article: BCHPad: SmartBCH First Launchpad
BCHPad successfully conducted its presale recently and the token has been listed on MistSwap. Holders can now trade their BPAD and an LP farm for it will be listed soon.
@BCHPad also announced its successful partnership with the QuillAudit team. The team will be responsible for auditing new projects that will conduct presales on BCHPad. Meanwhile, BCHPad LP tokens on MistSwap have been locked for 365 days to ensure that BCHpad won't turn into a scam. It will be locked again once it re-unlocked.
You can check the Proof of Partnership here: https://www.notion.so/quillhashteam/7614cd1d122245d198058e3ed43c1025?v=6a67bf0ca90448528700df7d7947a0d1
And the locked up tokens here: https://smartbchlock.bscrypt.finance/explorer/0x8221D04A71FcD0Dd3d096cB3B49E22918095933F
We are hoping for less to zero rug pulls on SmartBCH with the help of BCHPad.
SmartBCH Makes The Transactions More Convenient
SENDING BCH TO METAMASK
The procedures of sending BCH to CoinFlex, and CoinFlex to MetaMask under the SEP20 network has been a complex process by many users, especially those who are new in crypto-verse. Moreover, the arrival of the token in the wallet takes a long time as well that usually lasts up to 30 minutes or more. This gives inconvenience to newbies that can't grasp hold of the process. Some cases even lost their BCH as they ignorantly chose a wrong network.
Worry no more! Because Wagon.cash was made to solve the issue of the complex sending process of BCH from BCH wallet to Metamask.
The smartBCH one-way cross-chain bridge will transfer your BCH in just a few seconds.
You can open this link on your Metamask browser https://wagon.cash/.
(An article about this matter would follow. So stay tuned.)
SENDING AIRDROP AND GIFTS ON SMARTBCH
Moreover, distributing airdrops to active SmartBCH users would be easier with the help of CheckBook.Cash.
CheckBook.Cash is a blockchain cheque with some copied features from paper cheques. A tool used to airdrop coins to the people. Aside from airdropping, the platform can also be used for the features below.
MORE FEATURES:
Tipping
Voting
Crowd Funding
Auction
Over-the-Counter
Sell Tickets
Multi-level marketing
Pay for knowledge
For more info about other usages of blockchain cheques, you can visit this link https://www.checkbook.cash/posts/other-usages-of-blockchain-cheques/.
Active users of SmartBCH recently received CATS airdrop as a gift for passing the audit. It was followed by EBEN airdrop as a reward for its amazing increase in price. And recently, BCHPad distributed airdrop to holders with above 2500 BPAD.
**Check out the new event of wagon.cash. By sending BCH through wagon.cash, you will receive some CATS tokens as a gift. Check the whole information here https://www.checkbook.cash/posts/get-checks-through-wagoncash-bridge
These are just some of the projects that have been launched on SmartBCH recently. There are new projects in the line that will be launched very soon such as:
Beachswap, a new Decentralized Exchange.
Celery.cash, the first blockchain annuity. Celery will be conducting a presale on October 24. So if you want to know more about this project, visit their Telegram group at https://t.me/celeryToken.
TokenObserver, a guardian for SmartBCH. You can follow the group to know more about this project at https://t.me/TokenObserverBCH.
More projects will pop out at any time, and soon, SmartBCH will be known in the crypto-verse that would help drive BCH mass adoption to success and BCH price to the moon.
#BullishBCH
#SmartBCH
Related Articles:
Diving Into The Sphere of SmartBCH (for setting up SmartBCH network on Metamask wallet, you can check this article)
Benswap (SmartBCH) Complete Guidelines For Beginners And The Risks
SmartBCH SEP20 Tokens You Shouldn't Miss
BCHPad SmartBCH First Launchpad
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