Benswap.cash is the first ever DeFi and DEX created on the SmartBCH sidechain. It has everything an investor or trader will need and we can find Yield Farming opportunities with extremely competetive interest rates.
Additionally we can trade the newly created tokens on SmartBCH smart contract protocols.
Everyone already knows about these tokens and especially after Cash Cats made 10x in just a few days after listing.
We have a great opportunity with SmartBCH and there is no need to feel bad if someone thinks an opportunity was lost. There will be plenty in the short term. As long as the crypto market is on the frontlines and the bull run is active, developers will be incentivized and will keep creating. We only need to follow and be stong with our approach.
I took some moments to explore Benswap, but I have yet to proceed with sending BCH to the SmartBCH network. I will do so though in a matter of days.
The Website - General Feeling
As we see in this screenshot from benswap.cash it offers everything we need.
There was a presale of tokens that surpassed 4 million EBEN token in sales. EBEN price today is more than $2 in the exchange. I do not know the price it was sold in the presales but as I read from Ben Swap Twitter, the token has already ROI of 1,000%.
I visited two important sections of Benswap.cash and will share right now.
The DEX - Exchange for SmartBCH Tokens
Within Benswap we have the option to buy or sell any of the tokens on the SmartBCH network. We have also stats about the liquidity and the fee we will pay to liquidity providers and the minimum received information when we are swapping tokens.
The important section is the next one.
Yield Farming
Easy to understand and amazing returns, similar to the early Ethereum DeFi. EBEN especially is offering 950% APR and CATS also has very high rewards.
I will expect the price of both tokens to appreciate well in the short term.
I also read some reports about Benswap having reached high liquidity levels in BCH after contributions and investments as liquidity providers by community members, making the platform able to offer high yields probably for a long time.
We can stake tokens and earn EBEN tokens.
My recommendation is to always diversify. Have part of your investment in crypto, and part of it in various DeFi. Diversification is about the risk.
Nevertheless what I've written above is standard warnings about all DeFi projects and writing them out of experience.
SmartBCH tokens Index
Last but not least I wanted to mention marketcap.cash . This is a coinmarket index service that give us all available token on the SmartBCH network and their current price on the BenSwap exchange.
We have already 17 tokens that are listed at marketcap.cash. It also has the option to short using market cap, price, liquidity and total supply of the token.
There are some tokens listed that I have not heard from yet and probably need some more marketing. I am thinking that we will have hundreds of tokens very soon and some will have support by top Bitcoin Cash investors.
This is so encouraging as a start. This is only just a month or so since smartBCH announced the release of the mainnet, and we already observe so much action!
I won't be surprised if Vitalik Buterin tests himself SmartBCH and expresses in a Tweet the merits and his approval of this project.
Nicely summarized