High APR on BlockNG, a Great entry point for BNB holders To The SmartBCH DeFi Universe
BlockNG is a DEFI protocol that runs on the Bitcoin Cash smart chain and is based on a huge range of components that participate together to provide a decentralized economic cycle, where the central objective is to bring together collaborators to build a very strong ecosystem.
This protocol, which by the way is the largest in SmartBCH, has a huge ambition to connect blockchains and their respective participants where the focus is to ensure that the system is a reference in the Bitcoin Cash smart chain space.
BlockNG is a combination of NFTs with stake properties (where the user/investor can use them to earn dividends in the form of LAW tokens) with a diverse investment ecosystem involving an internal exchange , an NFT marketplace , a page dedicated to impersonation. of NFTs , a liquidity delivery ecosystem , an asset lending system and much more!
In the BlockNG system we find the NFTs (Lawpunks) protocols and the tokens protocol (where we find the LAW token as the governance vehicle), then let’s see how they are divided:
The NFTs protocol is spearheaded by Lawpunks which is the digital mark of every citizenship that holds a digital art in the ecosystem; Ghost Lawpunks that work as a collectible and finally LAWrights that are the digital rights of all citizenship that is in the BlockNG universe.
BlockNG also has the token protocol that it has in the LAW token, the governance asset serving as a store of value. It also has a thermodynamic token called LawETP, ending with a stable coin called LawUSD.
Lawpunks [NFTs protocol]
It is the digital art from the BlockNG project and has a total supply of 10,000 units with unique characteristics and, unlike other NFTs, these can be staked and generate LAW tokens which are the governance currency of BlockNG. It was the first and major project to date created at SmartBCH, where It constituted an authentic 'planet' in decentralized finance. The Lawpunks' track record is excellent and can be found on the BlockNG marketplace also on Oasis.cash where investors can choose to buy directly or bid on anyone that is available on the protocol.
LAW tokens [protocol tokens]
The LAW token as referenced above, is the governance token of the BlockNG project has a total supply of 21 million coins and can acquire from NFTs, Lawpunks, as well as it can be generated by stake, providing liquidity to the exchange as well as a countless number of investments that the BlockNG protocol offers as inventive to investors.
Ways to generate LAW tokens
BlockNG is a totally innovative system in the DeFi field and one of the most promising in the space, where it has diversified ways to generate the governance currency called LAW, as seen above. One of the ways to generate LAW tokens is by depositing Bitcoin Cash instead of selling it and thereby earning the governance currency with the stake.
As we can see in the screenshot above, there are currently 705.279 BCH in stake generating LAW tokens for investors who decided to deposit the currency in the BlockNG protocol.
By depositing on the BlockNG exchange, Lawswap, using LawETP-LAW it is also possible to generate LAW tokens. Here, users can obtain LAW by providing liquidity to BlockNG's internal exchange and thus receive incentives in the governance currency once again without having to dispose of the assets they hold.
In addition to these methods we still have more!
By providing for example LawUSD - LAW, LawUSD -bcUSDT, LawUSD -bcBCH and more, investors can also generate LAW tokens showing once again that the team behind BlockNG is innovating in a DEFI field never imagined. All these investment methods that generate LAW tokens can be found on BEAM .
Another way to earn LAW tokens is to upgrade Lawpunks , the NFTs that are making history on SmartBCH. BlockNG Punks have attributes that define rarity and can also be upgraded.
Upgrades are paid in the governance currency, the LAW token, and the higher the upgrade, the greater the mining hash capacity with which to generate LAW tokens. The higher the mining hash the greater the ability to quickly generate LAW tokens making upgrading Lawpunks very profitable and also more expensive when they are intended to be put up for sale.
High APR on BlockNG, a great opportunity to BNB holders to entry on smartBCH
The BlockNG protocol, in addition to being a metaverse, also has a bridge, carried out in conjunction with the MistSwap DEX that allows investor users to insert and remove values from the side-chain. As we have also seen, the APR found in BlockNG is one of the best found in the DEFI system, and the NFTs Lawpunks are constantly growing, recording a floor at the moment of 2.5 BCH (or 650 LAW) constituting an appetizer of the moment.
The two-way bridge (SmartBCH - BSC and BSC - SmartBCH) is an entry point for those who want to diversify investments, especially those in the Binance Smart chain community. Using the bridge these investors can benefit from Higher APR and for that they just have to follow a short tutorial on using the bridge. Remember that using the bridge users can convert BNB, USDT, Bitcoin Cash (BEP-20 format) and more currencies getting bcUSDT, bcBCH, bcBNB (SEP-20) etc in SmartBCH.
Let's see how to bridge USDT using BlockNG's platform from Binance smart chain network to smartBCH network;
Choosing the direction in which the bridge will proceed.
The first step when wanting to cross-chain the BSC to the SmartBCH is to understand which direction the conversion must take place and thus carry out the operation, in my case it will be to transfer USDT from the binance smart chain to the Bitcoin Cash side-chain. But, I will also show how much value I have in my wallet to clarify how much I will move from one network to another.
The next step is to enter the exact amount of USDT want to transfer and then pay the execution fees on the Binance smart chain network. An important fact, and that users who are starting to transfer values to SmartBCH, is that they can get money to pay future transactions on the side-chain just by checking the box as shown in the image to have 0.01 BCH to use in payment of fees on the side-chain of Bitcoin Cash.
See the images below:
When the transaction is carried out, the BlockNG platform will provide a hash, which the user can use to claim the value on the BSC network for the SmartBCH, which is not automatic as the user will have to enter it manually in the dedicated space. It is necessary to click on the link that will take them to bscscan where you will copy and then paste on the BlockNG platform as well as the images are presented;
Continuing, the next step will be to check the "manual claim of previous transactions" box, first switch from Binance smart chain network to smartBCH network, insert the tx hash, claim the value and pay the execution fees on the blockchain where the swap value will immediately fall to the user's SmartBCH address.
As I mentioned above, the claim process is not automatic and it is necessary to follow all the steps so that the bridge can in real time and after the claim fall to the investor's address.
Having followed all the steps successfully, the user will then be able to check whether or not the value has fallen to the desired address, where to do so, they can first check by changing the source chain to the recipient chain (using smartBCH as source ) to verify that the value is already there.
The other step is going to the particular address as seen in the images to check the value deposited in it!
The tutorial is quite simple but it is possible that when using the bridge users can get confused and, for example, lose the tx has of the transaction to manually claim the value of one or another network. Don't panic, as the hash can still be retrieved by simply going to explorer ( sonar.cash or bscscan ) and looking for the last transaction performed by the address in question and retrieve the hash.
Another case, no less important, is to remember that for better interaction, users must use the same address in either cross chain network to enable the bridge to succeed, simply by importing the seed phrase both in the BSC and also in the SmartBCH. Also, swapping from one network to another is not automatic, forcing the user to copy and paste the hash as soon as he gets it to have the value deposited immediately after the claim.
I have another tutorial here , which can also help bridge any currency supported by the platform.
Great entry point for BNB holders to enrich the side-chain
Users who are in the BNB community can enjoy, for example, the high APR that BlockNG offers and as the bridge has a sense that it imperiously has to pass through the Binance smart chain until it reaches the Bitcoin Cash mainnet, these in turn can invest USDT in BEP-20 which can enter SmartBCH on sep-20 increasing the number of assets in TVL on the network and take advantage of staking in BlockNG and having return in LAW tokens.
The LAW token is a currency on the rise that in a short time can reach heights never reached much for what the investors and dev team behind BlockNG are producing to keep the protocol at the forefront. This interaction between investors who are putting in values from the Binance smart chain can also help spread the Bitcoin Cash smart chain as they see that BlockNG is bringing something unique to the side-chain.
It is an unparalleled opportunity for BNB holders as they can also bridge their own BNB currency where the locked value is constantly growing.
In addition to USDT, binance smart chain users can also buy Bitcoin Cash in BEP-20 format and cross-chain where they will receive the equivalent in SEP-20, which will also contribute to ensuring that there is no great disparity between the two assets compared to 1:1 and also bring improved liquidity. So for investors who are on BSC and intend to enter SmartBCH I believe this is now the entry point, as a lot of development will still take place with smartBCH where BlockNG will definitely be the catalyst.
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Universe BlockNG: https://BlockNG.money
Bridge: https://BlockNG.money/#/bridge
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"BlockNG is linking everyone on the classical blockchain through collaborations and partnerships to grow a strong Universe".
And also find me on Twitter , Telegram and noise.cash !
I am now a resident of Blockngmoney because I love all the projects they provide.