BCHBull: The Innovative Leverage Trading App Taking the Bitcoin Cash DeFi Market by Storm
Just in: MiamiHerald published an article about Bitcoin Cash recently, that makes two publishings from different crypto medias in a row in just a week, which is a milestone for a currency almost "ignored😎" by the medias, that shows some tracking, which is cool.
The ecosystem of Bitcoin Cash has been growing exponentially, and for those who do not regularly keep up with what is happening inside, they may be amazed at the innovations taking place. One of the most anticipated implementations by the community is the introduction of cashtokens, which is an upgrade to the network further capabilities being deployed on May 15, 2023.
But what leads me to write today's article is not so much about CashTokens, but rather about BCHBull, a web application that enables users to leverage and hedge using Bitcoin Cash against various fiat currencies, Bitcoin Core (BTC), Ethereum, and precious metals.
BCHBull has been in beta since 2022, and with over 3,000 redeemed smart contracts, it has now entered full production, also attracting the attention of major crypto media corporations like cointelegraph. The giant cryptocurrency media company published an article praising BCHBull and comparing it to the current DeFi market led by Ethereum.
One of the things that stands out in the cointelegraph article is that the author refers to one of the strong keys of decentralized finance operating on Bitcoin Cash using UTXO, where each smart contract is independent, and as soon as two traders agree on the terms, it is initiated, and this type of contract eliminates centralized security risks in smart contracts.
The UTXO technology that Bitcoin Cash DeFi offers has another major advantage over the Ethereum protocol because it scales better and ensures that fees remain low even if the network experiences a higher volume of transactions.
In its latest update, the team behind the app, BCHBull, announced that in addition to the product being fully operational, users can also extend contracts for up to 90 days (3 months) and with fees 30% lower for created contracts. BCHBull is an innovation in the Bitcoin Cash ecosystem that uses AnyHedge, allowing more people to have access to decentralized finance.
Despite BCHBull being in the market for some time, many people are still unaware of this web app, and investors are unaware of the possibility of using Bitcoin Cash for leverage or hedge against various decentralized assets, fiat currencies, and precious metals. With big players like cointelegraph giving it attention, perhaps more people can benefit from using the app.
Another important aspect is the lack of knowledge that Bitcoin Cash can have applications operating well in decentralized finance, which may also be a reason why BCHBull does not have wide usability outside the BCH ecosystem, but every day, the web app is reaching new outside users and the amount locked on smart contracts growing which can easily be observed in DefiLlama, which was graciously created by a prominent community member to track value within the BCHBull ecosystem.
In conclusion, BCHBull is an app that will not stop, and its domain will continue to grow in the Bitcoin Cash DeFi ecosystem. The emergence of decentralized finance will be further amplified with the introduction of cashtokens on May 15, and more DeFi apps in the space may have more audience, such as unspent phi.
And now? What do you think of cointelegraph's publication about BCHBull, and what possible impact could it have on the Bitcoin Cash DeFi market?
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