Verse - A MultiChain DEX on smartBCH
SmartBCH includes a plethora of DEXs since already nine decentralized exchanges with DeFi and yield farming opportunities have successfully launched their operations.
The high throughput and low gas fees that describe smartBCH ensure the ease of accessing DeFi options and assist in the growth of platforms, NFT collections and blockchain games.
Developments in smartBCH attracted distinguished projects such as GoCrypto ($GOC) and FLEXCoin ($FLEX) to migrate part of their token supply into the smartBCH ecosystem.
Bitcoin.com is the latest significant entry in smartBCH, officially announcing Verse, a new decentralized exchange (DEX) with plans to be operational on multiple blockchains.
Verse
The Verse DEX offers a professional and user friendly approach. Currently, it operates mostly as a DEX without DeFi functions but as Verse Token will soon begin its presales, we should expect developments with yield farming and other DeFi options.
The layout is amazing, and Verse gives users a feeling they enter a professional website with attention to design and details.
- Centralized Bridge with ShideShift
A centralized Bridge with a Swap feature using Shideshift is available.
Crypto traders can swap their coins into BCH, or perform other swaps between many major cryptocurrencies. It is a demanded feature for modern DEXs, although it does not (yet) contain a bridge to swap Bitcoin Cash in its tokenized version of smartBCH.
We also expect the Bitcoin.com wallet to add support for smartBCH at some point this year.
- Verse DEX on SmartBCH
Verse DEX on smartBCH currently offers the option to swap using SEP20 BCH, flexUSD, and FLEX.
The Verse Token will be the next addition, and with time more smartBCH tokens will become available.
On the tab "My Investments" users of the platform can provide liquidity for the trading pairs:
BCH/flexUSD
BCH/FLEX
Trading fees stand at 0.25%, paid to liquidity providers for the available trading pairs.
These are the initial options Verse DEX offers, however, according to the whitepaper, Verse DEX will implement multiple decentralized finance opportunities such as LP staking, yield farming, and lending, with investors earning Verse tokens in rewards.
Analytics
Verse offers an analytics page right from its launch offering key information to investors on the total liquidity, daily or hourly changes, trading volumes and total trading fees for the listed trading pairs.
Verse Token: The Ultimate Utility and Rewards Token
Tokenomics
Verse token will proceed with presales soon, and when fully launched it is estimated to achieve a 500 million market cap (fully diluted).
According to Verse's whitepaper, distribution will proceed in two rounds, with the announcement for "Token sale A" being expected with anticipation.
Utility, Incentives & Rewards
Verse will be a multichain token as it will be released on Ethereum and smartBCH.
Bitcoin.com wallet will feature Verse as a service, making the DEX accessible to more than 25 million users of this wallet. also contains the purpose to reward users of the DEX and the Bitcoin.com wallet:
The token will be used in the DEX and other Bitcoin.com services to offer rewards for multiple purposes:
Stake Verse for yield
Earn Verse by adding liquidity
Earn CashBack paid in Verse
Use Verse As Collateral in Lending Pools
Swap Verse for other tokens
Exclusive access to platform products/services
Verse Token Rewards for reading content on the Bitcoin.com platform
Airdrops and other Incentives
*The Verse token sale will not be available in the US and some more restricted jurisdictions.
In Conclusion
Verse is an outstanding DEX.
I would instantly put Verse next to the top-performing DEXs on smartBCH (MistSwap and BenSwap). We can expect Verse to achieve high TVL and become the leader of the smartBCH DeFi market.
Moreover, smartBCH with SHA-Gate will achieve interoperability with Ethereum in terms of decentralized transfer of assets between the two networks, so perhaps Verge could utilize its full potential after a few months.
Unity in the community allows everyone to work without pressure and support these amazing developments Bitcoin Cash has witnessed since the beginning of 2021.
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Cover Photo: by ansumansimu2017 on Pixabay (modified)
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I think that it is a good job to invest project considering how big company Bitcoin. Com is.