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SmartBCH chain - EBEN, Cats, Kittens and a plethora of SEP20 tokens
The SmartBCH chain was launched the enhance the Bitcoin Cash ecosystem and to create DeFi options. BenSwap was the original SmartBCH exchange and yield farming platform until MistSwap and MuesliSwap joined SmartBCH. In the early days I believed that BenSwap and $EBEN will follow the same trajectory as PancakeSwap and $CAKE, taking advantage of the leading position.
Metamask must be set to take advantage of SmartBCH opportunities and this process takes less than one minute:
Go to settings > Networks > Add Network
Network Name: SmartBCH
RPC URL: https://smartbch.fountainhead.cash/mainnet or https://smartbch.greyh.at
Chain ID: 10000
Currency Symbol: BCH
Block Explorer URL: https://www.smartscan.cash
The first token I've got on SmartBCH was CashCats, or $CATS. I received 100,000 $CATS from their airdrop but still feeling unlucky, as I missed the 1,000,000 $CATS airdrop. The #$CATS tokens are having 1,000,000,000 total token supply and 70% of them are distributed. BenSwap DEX has 100,000,000 allocated for distribution. The token SmartBCH Contract Address is: 0x265bd28d79400d55a1665707fa14a72978fa6043
I then received $Kittens, $Bitcoin Cash Argentina, $K.TH and some others from meme competitions or airdrops. The only investment I've done was to buy $AxieBCH in the presale, a smart choice and a long term concept. Axie Infinity meet Bitcoin Cash to create the ultimate gaming guild, a project created by people who are well known members of the Bitcoin Cash community, with clear goals and a roadmap to follow. The AxieBCH gaming guild will have a simple business model and a provision for players to create a play2earn source of income. The transparent assets structure is given by the public blockchain and an unlimited growth potential. The token is minted on the SmartBCH sidechain with a total supply of 100,000,000 tokens. (0x3d13DaFcCA3a188DB340c81414239Bc2be312Ec9) -SmartScan
Because I thought that $EBEN will be a real success, I started to swap some of the less valuable airdrops for Bitcoin Cash, which I planned to use to buy few $EBEN. The price when I was doing this transactions was above 3 USD per $EBEN. The first ones to be swapped where the $KITTENS, for 0.0025 BCH.
The $CATS value was half of Bitcoin Cash but I decided to hold them all as this was the original meme token on SmartBCH and somehow the mascot of the chain. Again I give credit to the first project that tapped the market and I hope I made the right decision.
I initially bought 4.5 $EBEN, after selling the minor stashes of airdropped tokens. I then staked them when the APR was over 500% and while the day passed, I wanted to stake more. I sold 6,000 $CATS for nearly 7 $EBEN, which I added in the staking pool.
I doubled my $EBEN stash and with the new amount staked in, I had staked $30 worth of crypto. The APR dropped more and more, and the $EBEN price started to drop as well.
With more and more SEP20 tokens being launched and added to BenSwap, the scams and rugpulls appeared. It was inevitable - as Thanos said! I had 12.35 EBEN when the price started to drop dramatically, and in few days went down to $1. It didn't stay stable in there and as MuesliSwap and MistSwap where launched, the value dipped even more.
At the moment BenSwap looks like it fell behind the new players, as more SmartBCH users are moving liquidity on Muesli and Mist. If this cought your attention, you can check the existing SEP20Tokens.