Kasumi did it again & in partnership with BlockNG, a New bridge is Up to enter and exit SmartBCH!
"The bridge is a long-developed BlockNG product, and with CoinFlex's temporary discontinuation of providing support for smartBCH, it joins forces with MistSwapDEX main Dev, Kasumi, a partnership where the user of the smartBCH is the winner"!.
Once again @kasumi is the hero (BlockNG not being apart) in the Bitcoin Cash community linked to smartBCH, he once again and in partnership with the Blockng project brought salvation so that the side-chain could put in and take out values, since CoinFlex temporarily stopped with the withdrawals and consequently inexplicable stop of the movement of Bitcoin Cash, both for entry and exit of the SmartBCH protocol.
On the afternoon of June 24, 2022 , the community was woken up in an uproar when the company responsible for the wallet that handles Bitcoin Cash on SmartBCH suddenly decided to stop withdrawals citing reasons for doing so, and in that sense also temporarily stop supporting the Smart Bitcoin Cash chain, causing total discomfort within the community because that decision not only stops support but also stops any investment movement that can enter SmartBCH and prohibits users from withdrawing values from the side-chain! However, the Exchange has determined that updates will take place on the 27th and withdrawals are scheduled to resume on 30th of June.
Even so, Kasumi and the team did not sit back and watch SmartBCH fall apart, after all, stopping moving Bitcoin Cash in and out of the side-chain is a crucial requirement for the success of the smart Bitcoin Cash project. It was in this path and perspective that, together with the Blockng guys, who are doing an excellent job at SmartBCH, they brought out a new Bridge that allows the entry and exit of values in the side-chain to continue.
**Monitor all BCH deposited in CoinFlex here to be used in SmartBCH.
Kasumi and BlockNG, in the rescue of the Bitcoin Cash smart chain
Kasumi is a talented Dev who has long been building on top of Bitcoin Cash and is now at SmartBCH where he is the lead developer of MistSwap DEX, along with the BlockNG project of immense quality and innovation in the space, bring this new bridging solution that enables smartBCH to continue withdrawing and inputting values using the Binance smart chain. Exactly, the new Bridge allows Bitcoin Cash to have direction to the binance smart chain and vice versa allowing the movement of money between the two ecosystems.
This solution brings relief until CoinFlex resumes support for the Bitcoin Cash Smart chain, but it does not solve an entire problem that Sha-Gate could solve, as it may allow the ecosystem to be fully decentralized without depending on a trusted entity to move Bitcoin Cash in and out of SmartBCH space.
Read more about the BlockNG protocol
With the bridge that Kasumi and BlockNG brought, users can move Bitcoin Cash towards the binance smart chain and vice versa, giving rigor to a crucial movement for the ecosystem to thrive! By using the bridge, investors can buy USDT on any Binance smart chain trading platform and then use the BlockNG bridge https://blockng.money/#/bridge to convert to bcUSDT and then trade bcUSDT for Bitcoin Cash or other cryptocurrency on the MistSwapDEX Exchange.
And, to withdraw values from the SmartBCH protocol using the bridge, users have to sell Bitcoin Cash for bcUSDT on MistSwapDEX and convert back to USDT on Binance smart chain and trade on any trading platform in the BSC ecosystem.
The MistSwapDEX platform has launched a considerable number of trading pairs that it will use with the new BlockNG bridge, where it converted most of the assets of CoinFlex's stablecoin FlexUSD to smartBCH! The team led by Kasumi will also use most of the platform's treasury to provide liquidity to the newly created BCH/bcUSDT pair that allows investors to enter the SmartBCH ecosystem and exit it quickly and easily.
MistSwapDEX has also filed an emergency governance proposal to redirect all Flex dollar rewards to the BCH/bcBCH trading pair and BCH/bcUSDT pools, which will be a daily issuance of 750,000 Mist tokens and ensure there is sufficient liquidity in the new peers and pools that can restore trust in the Bitcoin Cash smart chain ecosystem again.
Summary,
Image screenshot from MistSwapDEX Telegram
The new bridge brought together by Kasumi and BlockNG, making it easier for investment to continue coming into SmartBCH from the Binance smart chain protocol and vice versa, is a smart solution even though it is temporary until CoinFlex resumes support for SmartBCH, but it is a bridge that will remain for use by those who prefer to use the Bitcoin Cash smart chain to convert assets to the Binance smart chain ecosystem, thus constituting yet another smart platform that the BlockNG team had long in mind. The implementation went very well and came as a support anchor to put and take values in and out of the smartBCH side-chain.
Kasumi once again showed why he is one of the best, if not the best Dev thinker in the SmartBCH protocol, he who works not only for MistSwapDEX to evolve but also for the entire ecosystem to reach a top reputation among the various DeFi businesses existing today.
It is mandatory to mention that the bridge is online and anyone can access it and the more it is used it can help in the dissemination as well as reduce divergence in prices that may exist in it, and, to say
That Kasumi and BlockNG have brought something positive in rescuing the entire Bitcoin Cash community on SmartBCH in this time of uncertainty which has revived hope and joy among users and lovers of the Bitcoin Cash DeFi protocol.
For updates stay connected with:
Twitter do MistSwapDEX : https://mobile.twitter.com/mistswapdex
Telegram: https://t.me/MistSwapofficial
BlockNG's Twitter: https://mobile.twitter.com/BlockngO
And access the bridge platform and MistSwapDEX: https://blockng.money/#/bridge
And, don't forget to support my Flipstarter campaign which aims to finish my home built using Bitcoin Cash .
Link campaign : https://bafybeigd5ktmlgpm3puqk3ieyhi4sxmf5tiyqv2onipwsoxi7u6iepfavi.ipfs.flipstarter.me/#/
Also find me on Twitter , Telegram and noise.cash .
...and you will also help the author collect more tips.
That's the beauty of having a very responsive system. Proving there is a quick solution for everything