The smartBCH ecosystem is rapidly expanding and already covers the DeFi field with five DEXs.
MistSwap is one of the smartBCH DEXs offering Swaps of SmartBCH tokens and DeFi options in the form of yield farming and staking for rewards, with DeFi Lending also under development (MistLend).
The MistSwap DEX has also recently announced the completed Certik audit and had some positive remarks from the Bitcoin Cash community, although the founding member @kasumi has already expressed his view on audits and how malicious actors can bypass anything.
However, MistSwap took the steps asked by the community to increase transparency and can now be considered reliable.
Currently, MistSwap is ranked 3rd (out of 5 DEXs) in terms of TVL (Total Value Locked), having been surpassed by the recently announced TangoSwap DEX.
MistSwap, offers an Analytics screen within the exchange, that investors can use to extract valuable data when researching DeFi within SmartBCH. This analytics option also provides more transparency and enhances the image of professionalism this DEX has exhibited so far.
MistSwap Analytics
The MistSwap analytics page is ported over from Sushi DEX analytics, as MistSwap DEX is also a clone of SushiSwap.
The front page gives two graphs describing the daily volumes and liquidity.
Below we also find the top liquidity pairs and top tokens on MistSwap which we can sort in ascending or descending order by Liquidity, Volume, Fees (1D, USD), and Fees (Yearly, percentage).
In the tokens section, the sorting options we have available are Price, Volume, Liquidity, and price change in the 24 hours and 7 days.
The analytics page also appears with a dark version that I used next.
MistBar
From the dropdown menu, selecting "Bar" gives us three charts of total APR for xMist and fees performance and the xMist token mint and burn process.
This page covers data helpful for MIST staking analysis and xMist rewards.
xMist is the rewards token given to MIST tokens staked on this page:
When your MIST is staked into the MistBar, you receive xMIST in return. Your xMIST is continuously compounding, when you unstake you will receive all the originally deposited MIST and any additional from fees.
Pools
This page contains importance for token holders, and projects, since it describes the possibility of current pools being removed according to MistSwap rules.
Upcoming Pools
Data for the remaining required volume a certain pair needs to enter pool selection.
The volume required is $10,000. Although, Kasumi has recently added a few new terms projects need to adhere to.
1. No token pairs without sufficient presence online (community, whitepaper, logo, etc)
2. No token pairs that do not have sufficient trading activity other than team.
Also, in this section, we find interesting information about allocation rates and percentage changes in the allocation of MIST.
Pairs
These options indicate adjustments in LP yield farming since pairs with high liquidity bring less yield and vice versa.
Higher liquidity is always better, although we all know the dangers of rug pulls from dubious tokens. When staking BCH there is very little danger, though.
Tokens
Finally there is the tokens option that give price and volume information on all trading pairs of a certain token.
Useful to find the total liquidity of a token on MistSwap, volumes on the exchange and price action.
In conclusion
Tools like MistSwap Analytics contain valuable data applicable especially to large DeFi allocations in pools and LP yield farming. MistSwap gives this advantage to investors, offering transparent information concerning pools and tokens, as well as the allocation of rewards.
MistSwap offers a wBCH-flexUSD (wrapped BCH) pair that contains high liquidity. I’ve previously expressed my opinion on the mainstream crypto CEXs (centralized exchanges) and the dangers involved when using intermediaries and giving access to third parties.
DEXs do not suffer from the same dangers as centralized exchanges but contain various investing dangers and a requirement of understanding and testing phase first. “Hacks” in DeFi protocols so far have mostly exploited flash loans vulnerabilities.
In smartBCH we don’t have flash loans, yet, although it should be noted as a potential danger in the future. Moreover, a second danger is the projects we select, the DEXs, and the allocation of tokens that have the potential of a rug pull. Difficult to completely avoid this risk, so it always has to be taken in account.
With smartBCH an investor can test DeFi for a very low cost in fees. In Ethereum, this is impossible because of the high fees that usually reach $100 per transaction.
This is the main competitive advantage of smartBCH.
Anyone can test DeFi with even a few dollars in smartBCH. The same is impossible with Ethereum.
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More Wallets:
SLP: simpleledger:qp77an8yy98kgarhgmhurvmcrxslth0v9qgft6ypqk
SmartBCH: 0x2c09bc07354bad5b5c04b3661148d50a5fc087bc
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hey, tell me please, do you know how much is the cost of creating a token on smart BCH ? Or where I can read about that ?