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DEX Exchanges on SmartBCH side-chain

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Written by   822
6 days ago

A growing number of decentralized asset trading platforms are emerging on SmartBCH, leading investors and the Bitcoin Cash community to have more options to trade, sell, farm or get an IBO of the various products created on the side-chain.

For those who remember the SmartBCH side-chain at the beginning only had one cryptocurrency trading platform, BenSwap [https://BenSwap.cash] the first DEX in the Smart Bitcoin Cash chain and what a lot it did and continues to do so that coins flow in this blockchain of the DeFi ecosystem powered by Bitcoin Cash to succeed. It was created by an anonymous figure in the world of the Bitcoin Cash community and calls Himself 'Ben' and is a developer who before creating BenSwap had also prepared a DEX on the BSC (Binance Smart chain) which he forked for the one working on SmartBCH.

BenSwap has a native currency that acts as a governance currency, the EBEN, which was made a presale before the platform went into action which helped the platform's developers to raise funds to make it work better for the Bitcoin Cash community and investors .

The emergence of more DEX platforms and the continuous growth of SmartBCH

With SmartBCH's growth and increased traffic more trading platforms were 'invited' to produce attractive projects that can also give a further boost to the side-chain development and, more Two trading houses emerge.

The first of the two was MistSwap, https://app.mistswap.fi which is a fork of the famous exchange running on the Ethereum network, SushiSwap, which in turn is also a fork of the great DEX EXCHANGE and the largest of DeFi on the ETH, the UNISWAP. MistSwap was created by a well-known name in the Bitcoin Cash community, Kasumi [which is an Alias] and has big plans to expand the platform on SmartBCH.

MistSwap did not conduct any presale and early on came up with several currencies pairs that could make the Farm earns and thus benefit from the governance currency, the Misttoken, without having to buy a pre-sale and with very inviting APRs [anualized profit returns]. Issuance of MistToken will start to decrease when it reaches a certain block and so will the reduction of returns in APRs Farming Mist currency. For now farmers can benefit from MistToken across multiple farms but soon those returns will reduce which can push the asset price.

Without long separation, another DEX appeared in the SmartBCH market, becoming the third in the side-chain and giving investors another market to be able to take advantage of opportunities in a free and dynamic decentralized way. Muesliswap, like BenSwap, also had a presale before entering the market and sold its MILK token to investors.

It started its operations on October 11, 2021 and has a range of products at its disposal to offer its customers and with very attractive APRs, after all, they are still in the beginning of their functions and must manage to attract as many people as possible to join the decentralized platform at SmartBCH. It was created by a group of developers based in Switzerland and at the moment they prefer to remain anonymous but, and through their channels, they guarantee that they are on SmartBCH to make a difference.

Summary,

As we can see and analyze, SmartBCH is still in constant development and growth where the focus is on improving and adding control mechanisms so that customers security is effective. However, many Dapps are already being added and developers are creating more products to work on the side-chain.

After all, the side-chain greatly favors the projects that are or will work on it, it is inclusive allowing many investors and users of the Bitcoin Cash network to consume these products since the low fees allow it. It is to be expected that with time and more knowledge and dissemination of the same, more focused projects will be able to create projects at SmartBCH.

In the meantime, the DEX that are working at SmartBCH are producing volume on the side-chain and with that allow more people to invest and enjoy what decentralized platforms can guarantee for the good of decentralized personal finance.

SmartBCH is a game changer for Bitcoin Cash and soon the world will witness it.

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Bitcoin (₿) is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.[8] Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto.[10] The currency began use in 2009[11] when its implementation was released as open-source software.[7]: ch. 1 

Bitcoin Prevailing bitcoin logo Denominations Plural Bitcoins Symbol ₿ (Unicode: U+20BF ₿ BITCOIN SIGN (HTML ?))[a] Code BTC, XBT[b] Precision 10−8 Subunits  1⁄1000 Millibitcoin  1⁄1000000 Microbitcoin  1⁄100000000 Satoshi[2] Development Original author(s) Satoshi Nakamoto White paper "Bitcoin: A Peer-to-Peer Electronic Cash System"[4] Implementation(s) Bitcoin Core Initial release 0.1.0 / 9 January 2009 (12 years ago) Latest release 22.0 / 13 September 2021 (31 days ago)[3] Code repository github.com/bitcoin/bitcoin Development status Active Website bitcoin.org Ledger Ledger start 3 January 2009 (12 years ago) Timestamping scheme Proof-of-work (partial hash inversion) Hash function SHA-256 (two rounds) Issuance schedule Decentralized (block reward) Initially ₿50 per block, halved every 210,000 blocks[8] Block reward ₿6.25[c] Block time 10 minutes Circulating supply ₿18,830,000[d][5] Supply limit ₿21,000,000[6][e] Valuation Exchange rate Floating (very volatile) Market cap US$811 billion[f] Demographics Official user(s) El Salvador[9] The symbol was encoded in Unicode version 10.0 at position U+20BF ₿ BITCOIN SIGN in the Currency Symbols block in June 2017.[1] Compatible with ISO 4217. May 2020 to approximately 2024, halved approximately every four years Approximate supply as of 2021-09-30 The supply will approach, but never reach, ₿21 million. Issuance will permanently halt c. 2140 at ₿20,999,999.9769.[7]: ch. 8  As of September 30, 2021 at 10:30am EDT This article contains special characters. Without proper rendering support, you may see question marks, boxes, or other symbols. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services,[12] but the real-world value of the coins is extremely volatile.[13] Research produced by the University of Cambridge estimated that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.[14]

Bitcoin has been criticized for its use in illegal transactions, the large amount of electricity (and thus carbon footprint) used by mining, price volatility, and thefts from exchanges. Some economists and commentators have characterized it as a speculative bubble at various times. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.[13][15][16] In September 2021, El Salvador officially adopted Bitcoin as legal tender, becoming the first and only nation in the world to do so.[17]

The word bitcoin was defined in a white paper published on 31 October 2008.[4][18] It is a compound of the words bit and coin.[19] No uniform convention for bitcoin capitalization exists; some sources use Bitcoin, capitalized, to refer to the technology and network and bitcoin, lowercase, for the unit of account.[20] The Wall Street Journal,[21] The Chronicle of Higher Education,[22] and the Oxford English Dictionary[19] advocate the use of lowercase bitcoin in all cases

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