Mantra: solving chain illiquidity via NFT lending
In the last NFT hype cycle in SmartBCH we all could appreciate a very notable phenomenom: most users became very illiquid (no SEP20 tokens in their wallets) due to high and rushed consumption of NFTs, either via new mintings coming every day or via secondary market sales in Oasis.
This illiquidity phenomenom then started to amplify some other side effects: people stopped or reduced activity in minting or participating in new projects and products, even if they were good; or if they wanted to participate, users had to remove funds from one project to move them into another, sometimes sacrificing good positions.
The fact is, users of SmartBCH reached a point where they had lots of NFTs in their wallets -in many cases very valuable ones- but very low amounts of tokens. That sort of contributed to the chain's economy getting stuck because the money got concentrated in the hands of a few (mainly project owners), and the vast majority remained with very low liquidity.
Ideas for NFT liquidity start igniting
Two members of the SmartBCH community and users of the chain (Telegram: @kiok46 and myself, @mortinp) got together to tackle these problems, and after realizing the above mentioned facts, we also understood and agreed on the general idea that **a chain economy needs systems that help heal liquidity on an ongoing basis**, otherwise projects will get stalled and the chain will stop growing. **If these systems are not in place, chain economies will quickly become unhealthy in the presence of these types of products that sell not-so-liquid assets, like NFTs**.
Core problem is: NFT collections (and other types of projects as well) will continue to pop up, but money (liquid SEP20 tokens) will not necessarily keep flowing and will be getting even more concentrated, which leads to the economy becoming passive and money-recirculation reaching unhealthy lows.
We decided to tackle this problem starting with the following hypothesis:
NFTs are valuable assets and they can be financialized. You should be able to do with them the same you do with any other type of valuable assets.
Lending is an activity that works well for re-circulating the accumulated capital of a few people into the hands of people with less resources or temporal illiquidity.
People with less resources may have less liquid assets (fungible tokens) but most probably they own non-fungible assets, since their lack of liquidity is most probably due to them buying lots of NFTs.
So, **a marketplace to borrow tokens using NFTs as collateral is the first solution we envisioned, built and deployed**.
Mantra: peer-to-peer lending marketplace using NFTs as collateral
Mantra is a peer-to-peer decentralized marketplace where SmartBCH users can borrow tokens directly from lenders using NFTs as collateral. https://withmantra.com/
The platform allows borrowers and lenders to meet in a single place and participate in an NFT financialization economy via borrowing and lending against the value of NFTs, allowing money to flow from concentrated wallets to more illiquid wallets.
The terms of each deal are set openly by the participants (borrowers and lenders) via Orders and Bids. The terms of a loan include: borrowing/lending amount, payback interest and duration of the loan.
Mantra launched with some unique features we haven't found in any other marketplace:
You can add multiple NFTs of multiple collections as collateral in a single order. We call this a bundle. This makes it possible to create high value orders by combining several low-value NFTs.
You can borrow not only the native currency (BCH), but many other tokens, too. Right now we support the tokens of each collection listed and we believe this should create some nice dynamics between Mantra and many community projects that already exist.
Bulk sales of NFTs: By listing your NFTs for a loan of 0 (zero) days duration, you'll be effectively creating a sale since liquidation happens instantly. This is a feature that users have been taking advantage of a lot.
Multichain support under the same product: besides SmartBCH, Mantra also currently supports Dogechain inside the same product and url, and is ready to support more EVM-compatible blockchains as well.
With Mantra we want to enable a money recirculation flow from power users (whales!) into less liquid users who need money for further investments or for solving real life problems, allowing them to squeeze liquidity out of their NFTs while also making the whole chain economy move at a higher speed.
So far the results haven't fallen short. At the time of writing this article (one day before the first month of operation), these are some stats (only SmartBCH):
There is **currently 8 loans running**, amounting a total of **12.2 BCH** and **980 lawUSD**.
Check them here: https://app.withmantra.com/app/market/deals?chain_id=10000
**85 orders have been filled and completed** (not running currently), most of them being **bulk sales** of over 20 NFTs in a single order, amounting to **over 1k NFTs sold**.
Check them here: https://app.withmantra.com/app/market/completed?chain_id=10000
There is **currently 65 orders listed in the market**, most being bulk sales of multiple NFT collections including Shorais, Kenshos, Reapers, PunkApes, Queens and others.
Check them here: https://app.withmantra.com/app/market/orders?chain_id=10000
This all has occured under a low market activity situation in SmartBCH, which makes us very confident for a future uprise.
We have also observed that, as we predicted, **LawPunks** and special items of some collections (mainly **Kenshos**) are the NFTs being used to take loans, due to them being the most valuable ones holding solid floor prices, which adds confidence from lenders at the time of supplying money for a loan.
However, we feel the option of borrowing (instead of selling) hasn't been taken advantage of as much as we want it to be, probably due to users still not understanding the power of leverage.
***Note:*** *we will be writing educational articles on this matter as well as success case studies we've already collected some data about.*
**Future of Mantra**
**Mantra is only one piece of the vision we have set ourselves for solving blockchain liquidity problems**.
We want to build and provide several tools that will make liquidity more readily available for those who need it, as well as open new market dynamics for multiple participants. We have an ambitious development plan we are already working on which we hope will position our project well in the future we envision for blockchain tech.
We will be deploying the next tools as we finish each milestone in our roadmap. We're tackling NFTs at first -with cool things like party bidding and fractionalization-, but we will continue to move to more complex topics as we also become an R&D project.
**Roadmap and clarity about most of the tools we have planned will be disclosed in an upcoming** ****whitepaper****.
**LINKS:**
Mantra Website: https://withmantra.com
Telegram Community chat: https://t.me/MantraProtocol
Market Realtime Bot for SmartBCH: https://t.me/MantraProtocol_Realtime
Market Realtime Bot for Dogechain: https://t.me/Mantra_DogeChain_Realtime https://withmantra.com/
MistSwap Ecosystem fundamentals: why xMist and xLNS are amazing
**TLDR; You want to have xMist and xLNS when SmartBCH grows, because these tokens feed on transactions volume of several activities in SmartBCH.**
***Disclaimer:*** *I am not a tokens trader and when I've attempted it, it has gone really bad. I almost never buy a token; I'd rather farm to earn and accumulate what I like despite the price. I haven't bought Mist/xMist and have only bought some LNS, but I'm accumulating Mist/xMist by providing liquidity in MistSwap and will keep buying LNS when I see fit.* ***This is not financial advise, always do your own research****.*
I've been thinking for a while about sharing my understanding of the MistSwap vision, until now, that I finally decided to share it formally after the great news of **.bch domains** **being integrated into the** **Electron Cash wallet**. https://app.bch.domains/ https://electroncash.org/
But let's start from the beginning, which is actually the core of all of this.
The case for xMist
Take a look at this chart:
These are the facts that chart states:
Farms in MistSwap collect 0.05% of all swaps volume and keep it as LP tokens that are used to **buy Mist and reward xMist holders**. https://app.mistswap.fi/swap
35% of all LNS is staked in behalf of the xMist holders forever, and all rewards from this staked LNS (xLNS) is used to **buy Mist and reward xMist holders**. https://app.bch.domains/stake
The Bridge collects 0.3% of the total amount bridged (for non BCH bridging) to be used to **buy Mist and reward xMist holders**. https://app.mistswap.fi/bridge
The coming Lending Protocol will certainly use some % as fees to be used to **buy Mist and reward xMist holders**.
That chart presents Mist exactly as I envision it: **an ecosystem of very diverse products** that, besides the services they provide to their users, **have the purpose of rewarding xMist holders**.
So, **as a xMist holder you're holding shares on a collection of products that, together, absorb a huge part of the activity in SmartBCH**: they get swaps volume from the DEX, purchase and renovation volume from .bch domains sales, borrowing activities volume from the lending protocol and volume from tokens bridged in and out of SmartBCH.
We will call that ecosystem of products **the Mist Ecosystem**.
**All the products in the Mist Ecosystem are core financial and useful products that tend to have a lot of activity in any blockchain**. We can expect total volume absorbed to be huge when counted together.
However, the greatest realization from the chart is this: **the Mist Ecosystem feeds from activity in SmartBCH**. The bigger the activity (swaps, lending/borrowing, assets bridging, etc.), the bigger the value captured by the ecosystem.
Products in the ecosystem are designed in a way that each tackles an important market or activity, and all end up rewarding the shareholders of the ecosystem.
**A big part (arguably most) of that value is distributed to xMist holders**.
**Quick sidenote:**
*As the graphic above shows,* ***the Mist ecosystem is conceived in a way that there is room for any other product that can potentially absorb a good chunk of activity volume in SmartBCH****.*
Having understood that **holding xMist is holding shares in the Mist Ecosystem**, let's now take a look at some numbers and then project a bit into the future.
Mist staking APY
If we have been following MistSwap Analytics, we would have realized that the **average APY for** **Mist staking** **has been moving from 12% to about 20%**. This range is due to the price of Mist fluctuating over time, since the APY is relative to the price of the Mist token. https://analytics.mistswap.fi/ https://app.mistswap.fi/stake
*You can check that APY here:* https://analytics.mistswap.fi/bar
***At the moment of writing, the APY for Mist staking is 25.88%****.*
For our analysis, let's take a conservative and round number. **Let's calculate with 10% APY** (this number is good because it is very conservative. So far avg. Mist staking APY has been beating that number).
But this APY that Mist Analytics shows is actually NOT the actual APY that xMist holders are getting.
**This number is NOT measuring the rewards coming from the bridge and from the LNS service**.
So, we can expect this number to be higher. But how much higher?
We still don't have analytics for LNS (we'll leave the bridge outside discussion), but **we do have this chart Kasumi shared** about a month ago (on April 7th, 2022):
*Kasumi shared that chart here:* https://t.me/MistSwapOfficial/27704
Visually, **the chart shows LNS rewards added almost a 2x compared to measuring MistSwap DEX fees only**. This means, if that ratio is sustained, **LNS is actually doubling the APY for xMist holders**.
So, **let's take that 10% APY from before and say we may actually be getting a 20% APY**.
Isn't that awesome? **We're probably getting 20% APY for ONLY staking our Mist!**
If that doesn't seem like a lot, then let's project this thing into the future.
**What if TVL in SmartBCH 5x? Like, what if we get to 100 million TVL?** That doesn't seem like a crazy goal.
The easiest way to project this is to assume **Mist would capture an equivalent percent of the total volume in SmartBCH, but now based on 5x the activity**.
**That would give you 5x the current APY, which would turn that 20% APY into a 100% APY.**
So, **under the circumstances of SmartBCH growing 5x, xMist holders would theoretically be getting a 100% APY for only staking Mist!**
Awesome stuff.
***Quick sidenote:***
*The actual APY at that moment will probably be nowhere close to 100% APY, because Mist token's price would also go up. This APY is actually based on current Mist price, but gives you an idea of the growth you can expect if you held Mist now.*
In summary:
Current Mist staking APY seems to be about 20% counting rewards coming from MistSwap DEX and the LNS service together.
If projected under a 5x growth in activity in SmartBCH, the APY could theoretically become 100% for Mist staking (holding xMist)
Let's now take a look at the LNS service, because it deserves to be looked into separately even if it has relation to xMist because it rewards xMist holders.
LNS for the masses: the case for xLNS
So, today (May 7th, 2022) **the wallet Electron Cash launched** **an update** **that included the integration of the LNS service and, for the first time, allowed BCH to be transfered from one address to another using a .bch domain** (I wonder to what domain was the first tranference made 0_0). https://github.com/Electron-Cash/Electron-Cash/releases/tag/4.2.8
The most important part is this: **we're talking about BCH in mainchain**, NOT in SmartBCH.
This means that **you can transfer BCH coins to an address like** ***mortinp.bch*** **instead of to** ***qzytl...7hxnf*****, using the Electron Cash wallet**.
And this is big!!! because **for the first time the BCH network got a direct integration with its sidechain that resulted in something useful for all users**. **If BCH users only have one interaction with SmartBCH, it will probably be with the LNS service** by setting a domain name for themselves. It's just a matter of convenience and it suits everyone, even those who won't consume other products in SmartBCH.
Now this has an amazing extrapolation and I'm going to say it quick:
**The LNS service's total addressable market is all BCH users!**
Read that again please, and think about it. **The total addressable market of the LNS service in SmartBCH is the whole BCH userbase!!!**
If you get only one realization from this article, I'd like it to be this one I just mentioned above.
Even if people who use BCH are not aware of SmartBCH or don't want to use their BCH in DeFi and dApps, they may be attracted by the HUGE convenience of having their own .bch domain for everyday use, and the only way right now is by purchasing a .bch domain using the LNS service in SmartBCH.
And that includes not only common people. **It may include mega enterprises too**, who will want to own their own domains.
I see .bch domains as an anchor of SmartBCH in the whole BCH community, and it may play out as a snowball. **The more people start getting their own .bch domains, the more people will want to have their own**, too.
**What is the importance of all this for xLNS holders?**
It's similar to being holding xMist but only norrowed down to the LNS service. **Holding xLNS is holding shares in the LNS service and having rights for profiting from the protocol's income**. It would be similar to owning shares in Goddady.
The more people purchase and renovate .bch domains, the more you profit from holding xLNS (staking LNS). And we already stated that the LNS service can be huge in itself.
And here's an additional thing about LNS: **there only going to be 1 million of LNS tokens around, ever.**
*See LNS tokenomics here:* *https://docs.bch.domains/tokenomics*
So, **if we think of LNS as shares in the LNS Protocol, then there is only ever going to be 1 million shares for you to grab**... and **we know capped tokens that actually work are wonders** ;)
**As a reminder, the LNS service IS a product from the Mist Ecosystem, so it will, above everything, do what it's programmed to do: reward xMist holders** (apart from rewarding xLNS holders themselves).
We will see exactly that in the next section.
xLNS and xMist get along together
Here is another chart:
This chart shows something extraordinary, as it states 2 things:
The mere existence of the LNS service is, besides the service itself, to **reward two types of shareholders in the Mist Ecosystem: xLNS holders and xMist holders**.
**xMist holders will get 35% of the total rewards for the LNS staking pool**, which is equal to 35% of the total income of the LNS protocol, since all income is used to reward the pool.
*You can see LNS tokenomics here:* https://docs.bch.domains/tokenomics
Those statements are bigger than you may be thinking right now, because they have one cool implications I will let you know right now:
xMist holders getting 35% of all income from the LNS pool rewards means that **xMist holders may be absorbing 35% of all income coming from the whole BCH userbase who will use LNS service to purchase .bch domains**, because we already stated that LNS service's total addressable market is all BCH users.
Yup, that's right, **xMist holders are effectively the owners of 35% of all xLNS.**
***Quick sidenote:*** *xMist holders actually get rewards from 350k LNS tokens staked forever in the contract, which is 35% of all the LNS tokens that will ever exist, but not all LNS tokens have been minted yet. It will actually take 1 year before all are minted, so, effectively, xMist holders get MORE than 35% of the rewards at the moment of this writing.*
If we talk numbers, let's get you something for you to fantasize with:
**If you own 1% of the total xMist, you also own 0.35% of all Mist rewards coming from the LNS pool**, which is the same as saying you can be earning 0.35% of all the money BCH users (including mainchain users) will spend purchasing and renovating domains!
So yeah, **you indirectly and hugely benefit from the LNS service's profits by ONLY staking Mist**.
(...)
Conclusions
As you can see, the Mist Ecosystem is a collection of very important products that will capture huge value from the financial activity in SmartBCH and will distribute that value to its shareholders: xMist holders.
I like to call these types of systems *a blackhole*, because they absorb a lot of energy or value. The Mist Ecosystem is definitely becoming and is meant to be one of the biggest blackholes in SmartBCH.
On the other hand, we saw that the LNS service (.bch domains) tackles a huge market, equal to all BCH users. The integration in the Electron Cash wallet is just the first window that got opened, but many more will follow.
xLNS holders get value from all purchases and renovations of .bch domains, and part of that value (at least 35%) is also distributed to xMist holders.
Here's my ultimate conviction: given SmartBCH grows, the MistSwap Ecosystem with its current products and others we may not imagine yet, will acquire a lot of value, will grow along with the whole chain and will bring huge value back to its shareholders and investors.
Quick overview of the BlockNG protocol in SmartBCH
**QUICK OVERVIEW for whoever asks WHAT BLOCKNG IS**
This is the website: blockng.money, but read below to understand it: https://blockng.money/?r=mortinp
- It has **2 main tokens**: ****LAW**** and ****lawETP**** (Entropy of LAW)
It also has a **stable coin**: ****lawUSD****.
- It has a **marketplace** for one of their core assets: the ****LAW Punks****, a NFT collection of 10k items. **You can buy punks with LAW or BCH**.
- **The punks are upgradeable** and you can use LAW to upgrade them. Upgrading will give you more power for the next thing you can do with punks
- You can **stake punks and get rewards in LAW** just for staking. **Your LAW rewards speed depends on how much power your punk has**, and you get more power by upgrading your punk
- You can **farm in multiple farms with multiple pairs**. These farms have **very sustainable APRs** due to the circular economy of the protocol: as people spend LAW inside the protocol (by upgrading punks or playing the Dungeon) **the rewards for the farms get a boost**.
**Interesting farms:**
* Single lawETP staking
* lawUSD/flexUSD farm (**stable coins pair**)
* LAW/BCH farm
* LAW/lawETP farm
- There is also **a DEX called LAW Swap** where you can trade tokens and liquidity providers get part of the fees, just like every DEX.
- It has a **algorithmic stable coin called** ****lawUSD****, **backed by BCH and the strongest assets in the protocol: LAW and LAW Punks**
* You can **use LAW or BCH as collateral in order to borrow lawUSD** and get some leverage
* You can also **borrow lawUSD by collateralizing (phantomizing) your punk and burning lawETP**
- You will also **be able to liquidate other users' collateral** (still not possible as it hasn't been enabled)
- You can **play a lottery-like game called The Dungeon**. You need to have punks for this, and you need to pay some lawUSD in order to **be able to randomly get certain prizes**: prices may contain lawETP, punks upgrades, a Jackpot of LAW tokens, etc.
The Dungeon is core to the protocol because **all the profits are redistributed to many parts of it, including the farms, the punks staking rewards and the DAO salary**.
- You can also **be a member of the LAW DAO by acquiring a** ****LAWRights NFT****. For this, you will need to lock a punk and/or some LAW for some time. You will get veLAW (voting power) in exchange for you locking your assets.
- Being a member of the LAW DAO has **lots of benefits, including getting vote power to decide what farms will be included in the LAW Swap DEX, or getting a weekly SALARY that will be paid to all members of the DAO based on the profits of the whole protocol**.
- There will be a **Bribing Economy** where you can **openly and transparently sell your Vote Power for LAW or BCH**, and **make your LAW Rights NFTs liquid in an instant**. This means, anyone can temporally buy your votes openly, in a decentralized way.
- Punks staking mechanism has been updated with a new feature: **Punks Skills**.
The first skill is: **Pharmacist**. You can turn your punk into a Pharmacist (by upgrading your punk and burning lawETP) who can **cast** ****LawPunkItem**** **NFTs that give punks extra power while staking** when they are consumed (yes, consumable NFTs).
It has a whole mechanism that is outside of this overview, but **it creates a whole new economy of Pharmaceutical dealers selling NFTs that are used to dope your punks!**
- It has lots of new things coming, including **new Punks skills** and whatever the community may come up with via the DAO.
So, a protocol where **all assets (tokens and NFTs) are very useful and power a stable coin**, where **a circular economy makes APRs very sustainable**, where **users of the protocol can get a share of the whole protocol's profits** by joinig the DAO and where **many branches of different economies are created**.
It is complex, but it is beautiful.
**SOME LINKS:**
- **Official Docs**: https://docs.blockng.money/
- **Punks Marketplace**: https://blockng.money/#/punks (use the filters for better search)
- **Punks Base** (staking, playing Dungeon, transfering, etc): https://blockng.money/#/mint (you won't see many options if you don't have any LAW Punk)
- **LAW Swap** (DEX): https://blockng.money/#/swap
- **Farms**: https://blockng.money/#/beam
- **lawUSD Loans**: https://blockng.money/#/pawn
- **LawRights and Law DAO**: https://blockng.money/#/kudos
- You can also do all punks related things (**upgrading, adding Skills, collateralizing for lawUSD**, etc) at **each punk's detail page**, like in this one for Punk # 4949:
https://blockng.money/#/detail/4949
**COMMUNITY:**
- Telegram group: https://t.me/BlockNGEn
- Punks Realtime activity channel: https://t.me/LawPunksSale
TLDR; How to quickly set yourself up into SmartBCH. Easiest, fastest way.
If you already have BCH in your wallet or in an Exchange (like Bitcoin.com, Coinbase, Kucoin, etc), do the following:
**Step #1: Configure the SmartBCH network in Metamask**
Go to marketcap.cash and find the **Add SmartBCH to Metamask** button at the top right corner. https://www.marketcap.cash/
**Click and Confirm**.
That's it, you now have SmartBCH configured in Metamask!
***For the next steps, make sure you select the*** *****Smart BCH Mainnet***** ***network in Metamask***
**Step #2: Connect your wallet to the bridge**
**We will use** **hop.cash** **as our bridge in this tutorial**. https://hop.cash/
Go to hop.cash and connect Metamask to the page using the **Connect to Wallet** button. https://hop.cash/
*After you confirm the connection, you might have to click "Connect to Wallet" again*.
Scroll a little down the page and select the **BCH -> smartBCH** button.
*You'll have to sign a message in your Metamask. Sign it*.
You're now connected to hop.cash with your SmartBCH wallet.
**Step #3: Bridge your BCH into SmartBCH**
*Hop.cash charges a 0.1% fee in each transaction but never less than 0.0001 BCH.*
At this point **hop.cash should be showing two QR codes**. **You need to send your BCH to one of these addresses**, depending of whether you have a *legacy address* or a *CashAddress*.
*Most likely your wallet is CashAddress, but if in doubt, please make sure you're doing it correctly.*
Now **just send your BCH to the corresponding address of the ones hop.cash gives you**. After hop.cash receives the amount of BCH you sent, they will transfer same amount of BCH to the SmartBCH wallet you connected in Step #2.
*Make sure you don't close the page at this point, and wait till the transaction finishes. If you accidentally close the page, just reopen again or the transaction will be stuck until you open it.*
**Step #4: Wait a few minutes and check your balance in Metamask**
Just hang in there for a few minutes, it should be fast depending on the amount of BCH you're transfering.
Check your Metamask balance, you should have some BCH inside the SmartBCH network now.
You're all set up. Welcome to SmartBCH and... start spending! :)
LAW Punks Dungeon: a lottery with multiple prizes + a NEW token
BlockNG won't stop impressing its community, and besides the several ways they've created to distribute their token, today they launched a new fun feature in their website: https://blockng.money/?r=mortinp https://read.cash/@mortinp/unique-innovation-in-smartbch-law-token-distribution-systems-ae109708
**The LAW Punks Dungeon**
**The Dungeon is sort of a lottery where your punks fight for different types of prizes**. You need to form a team of up to 10 punks and pay 100 LAW for each of them.
The lottery will accummulate everyone's payments and create a few prizes with different rewards. One of the rewards is the Jackpot, others increase your punk's level, etc.
**Some prizes come with rewards in** ***lawETP*****, a new token by BlockNG** that will bring new use cases in the short term >0<.
Below I post a picture of the **exact prizes for each round** as described in the Dungeon page:
***There's only a 10% chance you won't win anything****, as only the ROUT price doesn't give anything. The other four prizes (JACKPOT, NIRVANA, ARROW OF TIME and EQUILIBRIUM) all give something in return for your participation.*
BTW, you have to **respect** the names BlockNG chooses for their stuff :)
**The game is being played already by the community and quite a few punks have won the lottery already.**
***Note: LAW token's price is ~$0.28 as of the time of writting, and Jackpot is 1400+ LAW (~$390).***
The lottery winners can be tracked realtime in this group in Telegram: https://t.me/LawPunksSale
Here's a picture of a community member who won big with a few of his punks
-**5 prizes in one go!**:
How can you play the game?
**First step** to play the game is **buying at least one LAW Punk**. You'll need a punk to form your team and enter the battle *-the Dungeon is only one of the many things you can do with your punks, trust me*.
You can buy the punks either at the marketplace (use the filters for discovering the punks you want), or following the listings in realtime in this Telegram channel: https://t.me/LawPunksSale. https://blockng.money/#/punks?r=mortinp
**Second step is having 100 LAW for each punk you're going to take to battle**. You can acquire some LAW at MistSwap, BenSwap or other DEX. https://app.mistswap.fi/swap https://dex.benswap.cash/#/swap
**Third step is going to the Dungeons tab in your punks page, form you team and take them to battle. Just choose your punks, put them in the slots and click 'FIGHT'.**
Easy!
A few things to keep in mind
**This is a probabilities game based on the punk's level**. That means, the higher level your punk, the more chances you have to win the best prizes. Anyway, a few 0 level punks have won the Jackpot already!
**The 100 LAW per punk work only for 1 attempt**, so you'll need to keep acquiring LAW (or earning them in one of BlockNG's systems) to continue playing. https://read.cash/@mortinp/unique-innovation-in-smartbch-law-token-distribution-systems-ae109708
**IMPORTANT: After you click** ****FIGHT**** **you'll see a timer running. Make sure you click** ****OPEN BOX**** *****before***** **the timer runs up, otherwise you'll get no prizes**.
(Thanks @k1ll1van1ll1 for suggesting this addition) https://read.cash/@k1ll1van1ll1
**Having a 4 level punk play the game is mostly a safe bet**. The NIRVANA prize gives you one free level up for the winning punk + 1 lawETP, so if you get your level 4 punk upgraded to level 5, you're getting your 100 LAW back since upgrading to level 5 costs 100 LAW in itself.
**You can't have your punks listed for sale or staking in order to play the lottery**. They must be released and resting for battle :)
There you go. Go ahead and try the lottery and if you win, please share with the community in this group: https://t.me/BlockNGGlobal. We'll all shill for you.
***SIDENOTE*****:** *You can find an explanation of the lawETP token at this article by BlockNG:* https://medium.com/@blockng/introduction-law-entropy-etp-6e31f74ca8f2
¿Cómo enviar BCH desde una exchange (Kucoin, Pionex, Coinbase) hacia SmartBCH?
He estado recibiendo solicitudes y preguntas de personas interesadas en comenzar a usar las plataformas desplegadas en SmartBCH, pero no tienen claro cómo hacer llegar BCH hacia esta red.
En este artículo describo paso por paso lo que se debe hacer, para dejarlo como fuente de consulta.
Lo primero que se debe conocer es que (hasta ahora) **NO se puede enviar hacia SmartBCH directamente desde una exchange** (Kucoin, Pionex u otras).
**Por tanto, lo primero que se debe hacer es enviar hacia la red Bitcoin Cash (BCHN en el caso de Kucoin) y luego enviar hacia SmartBCH a través de un bridge (puente)**.
En mi caso, siempre he usado **el bridge de** **Coinflex**, y es la manera que les voy a describir.
**Coinflex es una exchange centralizada igual que Kucoin o Pionex**, pero está más enfocada a todo lo relacionado con Bitcoin Cash. **Desde Coinflex se puede extraer hacia SmartBCH, por tanto el objetivo es poner BCH en Coinflex para luego retirar hacia SmartBCH**.
*El fee de retiro desde Coinflex hacia SmartBCH es $0, por tanto el único costo que vas a tener en el camino es el del retiro de BCH desde la exchange.*
Vamos a la explicación.
**PASO #1: Crea una cuenta de usuario en** **Coinflex.com**
Este es un paso sencillo: **regístrate como usuario en Coinflex usando tu correo**. No es necesario hacer KYC y la posibilidad de depositar y extraer es inmediata.
**PASO #2: Envía BCH hacia Coinflex.**
**Esto lo puedes hacer desde Kucoin u otras exchanges, o puedes hacerlo desde tu wallet (ej. TrustWallet).**
Estos serían los pasos:
**Busca tu dirección de depósito hacia Coinflex y cópiala**. Debes tener seleccionada la pestaña **BCH** en la sección **Deposit Network**, y copiar la dirección que se muestra ahí.
La dirección es algo como *bitcoincash:qzqp.......vhm9*
**Extrae desde la exchange hacia Coinflex**. Este paso es simplemente enviar BCH de una exchange a otra. En el caso de Kucoin, el fee por extraer BCH es de 0.001 BCH ($0.50 aproximadamente).
**Si vas a hacerlo desde tu wallet (no desde una exchange) simplemente envía los BCH hacia la dirección de depósito de Coinflex**.
**Espera unos minutos**, pues las extracciones son procesadas durante unos minutos en todas las exchanges.
**Verifica que recibiste los BCH en Coinflex.**
**PASO #3: Enviar los BCH desde Coinflex hacia SmartBCH**
En este paso asumo que ya tienes la red SmartBCH configurada en Metamask, y que ya tienes la dirección de tu wallet.
**NOTA:** Si ya sabes configurar una red en Metamask pero NO tienes SmartBCH configurada, estos son los datos:
Network name: Smart Bitcoin Cash
New RPC URL: https://smartbch.fountainhead.cash/mainnet
Chain ID: 10000
Currency Symbol : BCH
Block Explorer URL : https://www.smartscan.cash/
Los siguientes son los **pasos para extraer desde Coinflex a SmartBCH**:
**Copia la dirección de tu Metamask con la red SmartBCH seleccionada**
**Busca la opción de Withdrawal en Coinflex. Lo que vas a hacer es una extracción desde Coinflex hacia SmartBCH**
****IMPORTANTE******: Selecciona la pestaña** ****SEP20**** **en la sección** ****Network****. Esto le indica a Coinflex que la dirección que le vas a dar es una address en SmartBCH
**Realiza el retiro y espera a que se ejecute**. Puedes conocer el estado del retiro en el Historial, como con todas las exchanges.
Realizado esto, debe demorar algunos pocos minutos antes de que te lleguen los BCH a tu wallet SmartBCH en Metamask.
Ahora solo te quedaría comenzar a usarlos! Bienvenid@ a SmartBCH :)
Unique innovation in SmartBCH: LAW token distribution systems
There's been quite a few articles already written about the LAW token and the Law Punks, a project by BlockNG that launched in smartBCH and which some members of this community are enjoying a lot; **but none has gone to the core of this project as I will try to do in this article**. https://read.cash/@FarmGirl/blockng-and-proof-of-lawpunks-732ef70a https://read.cash/@PVMihalache/smartbch-spotlights-blockng-law-punks-9a60b572 https://read.cash/@Pantera/lawpunks-high-volumes-in-the-smartbch-nft-field-fc9a622a https://blockng.money/?r=mortinp
It's already been described some of the things that BlockNG allows to do on their website, but people have focused mostly in what they find most attractive: the Law Punks and the possibility of staking them to earn some LAW token. https://read.cash/@annayks/law-token-offers-better-tokenomics-with-staking-nfts-a1c54112
But this projects goes way beyond that, and I think I've deciphered the rationale of the team behind BlockNG.
**I think it's all about TOKEN DISTRIBUTION in order to reach some kind of governance and fair system in the future.**
This article tries to explain that previous sentence.
Distributing the LAW token
Most projects choose one way or the other to distribute a token:
Some choose to do an ICO and sell part of the total tokens supply to investors.
MistSwap chose to give tokens as rewards to Liquidity Providers in their platform and give a 10x rewards multiplier during the first 2 weeks. https://mistswap.fi/
Some projects choose to airdrop tokens to early adopters.
Some projects choose to crowdfund and give tokens to early contributors as a form of gratitude.
**But BlockNG chose to NOT do any of this, and instead went with unexplored ways by creating a few very innovative strategies**.
*We will see how these align with their* *whitepaper* *by the end of this article.* https://about.blockng.money/WHITEPAPER.pdf
Let's inspect the different strategies the LAW token is distributed by at this moment.
Strategy #1: Stake BCH, earn LAW
The first strategy is simple, but has a nice implication.
**It consists in you getting your BCH and sending it to a smart contract to stake**. **As you're staking your BCH you earn LAW tokens**, so you're incentivized to keep those BCH there instead of selling them or swapping them for other tokens.
They call this part of the project, ***BEAM***. You can see the details here:
https://blockng.money/#/beam
**What's the side effect of you staking your BCH?**
**If you hold your BCH and other people do it too, the price of BCH will tend to NOT drop!**
**BlockNG chose to reward those who contribute to the whole BCH/smartBCH community by setting a hold pressure for them, because now you have the possibility to earn tokens by just not selling BCH.**
**You don't sell your BCH, you're rewarded with the LAW token.**
**This is genius and it actually helps the whole community**. As of the time of writting this article, there were 150+ BCH staking.
Strategy #2 Rebase your LP tokens from BenSwap to BlockNG and earn LAW
This strategy consists of the following:
**You acquire both LAW and BCH token, go to BenSwap and add liquidity to the BCH/LAW pool**.
**When you get your LP tokens in your wallet, instead of farming those tokens at BenSwap, you go to** ***REBASE*** (that's how they call this part of the project) **and farm at BlockNG's website for a bigger APR with rewards in LAW token instead of EBEN**.
This is just a way they found for distributing the LAW token, and even if it's a more complex and interesting strategy, it isn't as good for the community as *BEAM* (BCH staking).
But **this is actually a very innovative strategy that gives users the possibility to be exposed to LAW token appreciation in the future, and also to a real higher APR**. So, it's definitely a win for the users of *REBASE*.
*REBASE* can be accessed here: https://blockng.money/#/rebase
(...)
Before BlockNG launched the third strategy, they went through a middle step: deploying their Law Punks project.
This is one of the most amazing projects in smartBCH, which I won't describe in detail here as other articles have covered it, but I'll just say that **I've been shilling and having fun with this project and the community around the punks**, as I hadn't for a very long time.
What a way to enjoy this project!
**I'll just leave here the Telegram group we all gather at to talk Punks:** https://t.me/BlockNGGlobal
**For realtime punks activity and transactions, see this group (it's very interesting):** https://t.me/LawPunksSale
The combination of both these groups have created an amazing and vibrant community around the punks. Come enjoy with us!
(...)
So, **the punks were minted and they have many owners now. What next?**
BlockNG came up with strategy #3.
Strategy #3: Upgrade your Punks and stake them to earn LAW
**Punks have a** ***metaverse power*** **that depends on its attributes and the rarity of each attribute. This** ***metaverse power*** **can be increased via upgrades, and these upgrades are paid with the LAW token.**
As punks get a higher metaverse power, **they get a higher** ***mining hash power*****. This** ***mining hash power*** **is used to stake the punks and earn LAW tokens**.
**The higher the mining hash power, the faster you earn LAW. This way you're incentivized to actually use the LAW token to upgrade your punks.**
You can stake a maximum of 5 punks at the same time.
So, **you earn LAW tokens for staking your punks and NOT selling them**. This creates a preassure not to sell and also **rewards the early believers in the LAW project**, presumably those who acquired Law Punks.
**The punks upgrades are paid in LAW, and 80% of the LAW collected from the upgrades is redistributed to the rewards pool for the punks staking**.
**This means that as people upgrade their punks, everyone staking punks is rewarded, in a closed cycle of LAW acquisition and LAW use for upgrades. The LAW token has some utility and a real economy around the punks.**
You can find all the 10000 punks here: https://blockng.money/#/punks
**Use the filters to find your favorites :)**
Punks were rather cheap at some point, but lo and behold, **with the staking system they've appreciated in price. Two achievements at the same time: token distribution and punks price appreciation**.
(...)
So, **3 ways so far you can use to earn the LAW token**. They are coming up with more and **they have an announcement this week related to punks upgrades**, presumably something that will incentivize the community to upgrade their punks even more.
***Update (Nov. 28th)****: they launched a new project to incentivize upgrades: The Dungeon.*
*See details here:* https://read.cash/@mortinp/law-punks-dungeon-a-lottery-with-multiple-prizes-a-new-token-f297b7cb
The community members have also been talking about games ideas, so **a game would probably be one more way to earn LAW in the future**.
BlockNG has decided to explore DAOs too, which is probably the end goal of all this.
The Grand Strategy
But, can these ways BlockNG chose to distribute their token be part of a much bigger strategy?
Can all this be more than punks and an economy around them?
I think so. I read the whitepaper and though it's a little dense with Physics concepts like entropy o_0, they do have this quote by the end: https://about.blockng.money/WHITEPAPER.pdf
*LAW is a unique token model issued by BlockNG.money, which represents* ***a new system of distribution of rights and benefits, not only for the distribution of profits throughout the system, but also for governance mechanisms****.*
*The easiest way to get LAW is to enter a negative entropy into the system, which is the responsibility and obligation of the citizen.* ***Law System's smart contract detects the contribution status of each citizen, and citizens who are in a silent state are suspended from LAW increase and dividend rights****.*
**BlockNG seems to be trying to achieve a new, more fair economic model, and they're going after it with their initial projects.**
**Right now they are at the first step: distribute the LAW token in a community-contribution-wise way. You give to the community and adopt the project early, you earn sufficient LAW for the future.**
You can contribute to the whole BCH/smartBCH community by participating in BEAM and earning LAW for not selling your BCH; or gain higher APR by chosing LAW as your reward token, hence trusting it via REBASE; or show your appreciation for the project by buying their flagship product, the LAW PUNKS, and staking them. https://blockng.money/#/beam https://blockng.money/#/rebase https://blockng.money/#/punks
Conclusions
The BlockNG project has brought a nice breeze of innovation to smartBCH. I haven't seen a project like this in any other blockchain, and I've been exploring quite a few blockchains before arriving in smartBCH.
There is something I can certainly say: **the token distribution models BlockNG has deployed are really interesting and probably unique. Something for smartBCH to be really proud of.**
I'm really looking forward to the next realeases by BlockNG.
In the meantime, **I'll be just shilling among vamps, mummies, skells, robots, demons, aliens, zombies, apes, orcs and of course, humans** (I only have humans as I didn't mint any punks and couldn't afford other types at the time of buying).
I'll leave you with ***The Queen of Humans***, the highest *bloodline*, 6 attributes female.Here she is:
https://blockng.money/#/detail/579
Hope whoever owns her gives her a name soon :)
Growth hacks for smartBCH
So I've been having these ideas about ways to grow smartBCH adoption since some time ago, and I'm just going to quickly shoot them here.
I just want to sparkle your imagination about what can be done, so not giving too much detail otherwise I would never finish this post. Too lazy :)
So, let's go.
**Hack #1: Rabbithole's quests campaign to make users explore the smartBCH ecosystem**
Not sure if you all know RabbitHole. It's a platform that rewards users to **explore blockchains functionalities via quests**. Here's an example of a quest to explore the Celo blockchain: https://rabbithole.gg/
https://app.rabbithole.gg/quests/celo-world
In this quest users just have to do 4 tasks like swaping, providing liquidity, deposit at some protocol in the Celo blockchain.
They provide rewards for the first 5000 users who accomplish the tasks. Accomplishing the tasks is verified on chain as all the data is there. Users just claim the rewards and the system checks they passed.
The rewards for each successful "quester" in this case is 3.7 CELO ($19) and 1 NFT from a collection in Celo.
**A super nice growth hack for smartBCH would be to publish some quests related to smartBCH in Rabbithole. We already have a few projects that can be explored!**
Imagine people trying our DEXes (MistSwap has a sweet UI), minting a couple cheap NFTs and listing them for sale at some marketplace -and people fake-buying just to impress >-<. We would show our best projects so people say *Wow*. They'll tweet about it; Rabbithole will tweet about it. All good things.
That would be an awesome way to bring users to the community. I think smartBCH can do something like this, and even make it more interesting.
**This would probably take some budget, but definitely worth trying.**
Hack #2: From BCHers to smartBCHers: onboarding BCHers to basic DeFi.
**Do you think every BCHer will come to smartBCH eventually? Of course they won't.** You have to pull them here! Many BCHers think in BCH only as a currency (one of the best), but smartBCH is more than that.
So here's the way: **buy $10's worth of the highest APR Liquidity Pool in a DEX (MistSwap, BenSwap or MuesliSwap), and give away the LP tokens to a person**. LP tokens are just SEP20 tokens, so they can be transfered like you transfer any Cats, LAW or Honk.
**You then tell them:** ***"here, I give you a few*** *****shares***** ***in a*** *****company********"*****, but the company happens to be a Liquidity Pool ;)**.
You'll make them do this:
Configure smartBCH in their wallet
Receive the LP tokens
Put those LP tokens to farm (they'll see their first interaction with a smart contract)
See how they get rewarded with a token (Mist, EBEN or Milk) in return (and earn money!). They will definitely have their *Wow Moment*. I did this with my dad.
This is not a very scalable solution, but will be fun to see someone become a DeFi fan :)
Hack #3: CEX withdrawal directly to smartBCH
So I have this conviction that **people DO NOT have a single way to move crypto from one place to another**.
It will be awesome when we have lots of bridges connecting smartBCH to the outside blockchain world, but that won't be the only way we should expect users to enter smartBCH. **We need MULTIPLE entry points**.
You see, I always do this:
I buy USDT in an informal market (Telegram groups) and send them to Kucoin (a CEX and trading platform)
I buy the token I want at a spot price
I withdraw from Kucoin to the chain I want: I've withdrawn to BCH network, to Matic, to Ethereum and to Celo, but there are many others you have the option to withdraw to.
If I want to send to smartBCH, I still use Kucoin. It's just a 2 step (but multiple clicks and waitings) because I withdraw to BCH and then use the Coinflex bridge to smartBCH (I know there are other bridges).
But Kucoin constantly integrates different blockchains to withdraw your funds to. I've withdrawn to Matic, which is a sidechain of Ethereum, so they do integrate sidechains, too.
There's a lot of people in Kucoin, Binance, Pionex, Coinbase, etc. **A direct withdrawal from these CEXes to smartBCH could be a killer feature**. People want it easy and **many, like me, use these CEXes as their starting point for every operation**.
Hack #4: Win influential artists' hearts by giving them personalized NFTs
I saw this tweet recently:
https://twitter.com/SolVoxelMonkes/status/1460715853817782293
**A NFT collection project in Solana is giving away a personalized (and fantastic) NFT to a very well-known and estimed NFT artist from Ethereum, Deekay**.
Just take a look at Deekay's profile to see his work, and see how the NFT relates to him very well.
**Deekay "only" has to install a Solana wallet and give them an address so they transfer the NFT to him**. Of course Deekay retweeted it and will probably take the NFT and tell everyone about it.
Will he stay in Solana and drop something there? I don't know.
**Is this a nice press stunt? Definitely!**
These kind of things we need in smartBCH.
*BTW, I've found a few nice projects from some artists in my community that haven't sold a single item in Ethereum (gas costs, crowded ecosystem), but I find they are good collections, like this one:*
*https://opensea.io/collection/cmondejasneakerheadcollection*
*Would it be worth it to pitch this kind of artists and convince them to bring their art to smartBCH? -We need a nice NFT marketplace BTW... and people ready to buy ;)*
Hack #5: Integration with a hot and fun protocol
I've had this idea since I entered smartBCH about one and a half month ago:
**We should clone** **Pooltogether** **and deploy it in smartBCH, or otherwise we should attempt to integrate PoolTogether with one of our DEXes**. https://pooltogether.com/
The rationale is this:
**We need multiple outside entry points (like the one described in #3), and Pooltogether is an excellent way to have one of these.**
PoolTogether is a no-loss lottery protocol. It means, you buy a ticket to a lottery and if you don't win, you don't lose your money either. You NEVER lose.
**It works by integrating itself to yield-generating protocols like pools in DEXes in Etehereum, Polygon Matic, Celo**, etc. **All the yield generated during a week from the money collected in tickets, they give it to a few winners and then they return the ticket value to the original buyers**. Sweet idea!
**Shouldn't we try to integrate smartBCH with PoolTogether, or clone PoolTogether and deploy it in smartBCH?** That's an idea that's been hunting me since my day 1 at smartBCH.
It's probably more worth it to try to integrate one DEX in smartBCH with PoolTogether, so we have an already known outside anchor... but that's just one option.
Hack #6: Integration with Chainlink
I've been thinking: **any project that is deployed in smartBCH that needs Oracles (ex. for accessing indexed token prices), should probably explore an integration with** **Chainlink**. https://chain.link/
**Chainlink is proud of any project using their tech and will be very loud about it**, so it's free marketing from a trusted source. Projects integrated with Chainlink are considered reputable.
We've seen smartBCH hyped after recent outside integrations, like when it started being indexed in Defillama and MistSwap was integrated into vfat tools, or when EBEN token was listed in CoinW. It will happen again and again everytime we hook smartBCH to other projects. https://defillama.com/chain/smartBCH https://vfat.tools/smartbch/mistswap/ https://coinw.zendesk.com/hc/en-us/articles/4409089308057
As more protocols appear in smartBCH, we should have more outside integrations that could work as anchors and entry points to smartBCH.
(...)
So there it is. There are probably more and I'll certainly update this post with what I come up with. Hope you enjoyed and hope you can't sleep tonight thinking about all this.
What I say to all my Etherean friends since I learned about smartBCH is this:
**If Ethereum is Manhattan (costly and crowded), smartBCH is the Nevada desert ready to become Las Vegas.**
Lots to build and lots to do!
How to know your holding of each token in a pool in MistSwap
Let's make this a quick article.
MistSwap is a DEX/DeFi platform for smartBCH, so you can swap tokens and add liquidity to Liquidity Pools. https://mistswap.fi/ https://smartbch.org/
When you are farming in the pool, you are not exactly sure how many tokens of each one in the pair you are to get in return if you were to withdraw your position from the pool.
**Let's say your are in the** ***Mist/flexUSD*** **liquidity pool and let's do the exercise.**
**STEP 1**: **Check how many LP tokens you own (which you are staking in the Mist/flexUSD farm)**. See figure below:
**In my case, that's 3484 LP tokens in the Mist/flexUSD farm**. Write this number down as it will be used in Step 2.
**STEP 2: Calculate your share in the Mist/flexUSD pool.**
**Go to this url**: http://smartbch.tuxpaper.nu/TokenTransferScanner/?c=0x3a7b9d0ed49a90712da4e087b17ee4ac1375a5d4
*This is the MasterChef contract.*
**Click the** ***Calculate Balances*** **button. You will see the** ***Total LP token balance*** **of each pair of tokens.**
In the picture below you can find **the balance of the Mist/flexUSD LP token**. It is ~**1,924,404**.
To calculate your rate, just do this calculation:
*your LP token count* / *total LP token balance* = 3484 / 1,924,404 = **0.0018**
**0.0018 is your share in the Mist/flexUSD pool**. Write this number down.
**STEP 3 and final**: **calculate how much flexUSD and how much Mist** I would get back if I withdrew my LP tokens from staking right now.
**Go to this url**: http://smartbch.tuxpaper.nu/TokenTransferScanner/?c=0x437e444365ad9ed788e8f255c908bcead5aea645
*This is the Mist/flexUSD LP token contract.*
**Click the** ***Calculate Balances*** **button. You will see the total Mist balance and the total flexUSD balance separately.**
See picture below:
In the picture, these are the **TOTAL balances**:
**Mist: 12,905,123**
**flexUSD: 294,872**
So, **how many tokens of each would I get?**
You do: *your rate* * *total balance of the respective token in the LP contract*
So, **for Mist:**
**0.0018 * 12,905,123 = 23,229**
**For flexUSD:**
**0.0018 * 294,872 = 530**
In summary, **if I withdrew my LP tokens from staking from the Mist/flexUSD farm, I would get**:
**23,229 Mist**
**530 flexUSD**
That's it. Hope it helps!
La blockchain que me ha entretenido en los últimos 3 días
*Disclaimer: El siguiente artículo es un análisis de solamente 7 días (3 días a full) participando en la comunidad de la blockchain a la que me refiero, por lo cual puedo estar totalmente equivocado. Nada aquí es recomendación de inversión, ni de dinero ni de tiempo o esfuerzo.*
(...)
So, he estado explorando un ecosistema blockchain que me ha tenido enganchado en estos días.
Seguro conocen la cripto Bitcoin Cash (BCH).
Pues bueno, BCH lanzó hace un tiempo una **sidechain** de su red principal, que le da la capacidad de **desplegar y ejecutar smart contracts** en su red, usando el protocolo y la capacidad de la red BCH original. Esto le da un par de características interesantes: **bajos fees** y **procesamiento ultra-rápido** (debido al protocolo de consenso de BCH).
Además de esto, la ejecución de **los smart contracts es completamente compatible con la Ethereum Virtual Machine** (EVM), lo cual **permite usar la misma stack de desarrollo que usarías para Ethereum, Polygon, Arbitrum**, etc.
*NOTA: Bitcoin Cash es un hard-fork de Bitcoin. Puedes buscar sobre esto.*
La sidechain en cuestión se llama ****smartBCH**** (https://smartbch.org/).
Pero, **¿por qué me ha tenido entretenido y por qué es interesante esta sidechain?**
Bueno, pues me he pasado un par de días observando lo que está sucediendo en el ecosistema y participando de él. He probado algunas cosas y he seguido los foros. Les cuento las cosas que he visto:
**La primera Exchange Descentralizada surgió hace poco más de un mes**. Se llama BenSwap, y es esta: https://benswap.cash
El desarrollador básicamente clonó el código y contratos de PancakeSwap y lanzó la exchange en par de días. https://pancakeswap.finance/
Rápidamente logró una liquidez de más de 10 millones entre solamente 4 farms para las Liquidity Pools. https://academy.binance.com/es/articles/what-is-yield-farming-in-decentralized-finance-defi
El desarrollador obtenía 10% de todos los tokens EBEN (el token de la plataforma), por lo cual literalmente se ha ido forrando.
**Hace 2 días surgió la segunda Exchange Descentralizada** de smartBCH. Es esta, MistSwap: https://mistswap.fi
Situación similar, el desarrollador clonó SushiSwap y lanzó la plataforma, con una interfaz muchísimo mejor.
El lanzamiento se hizo con muchas más pools y farms, y los retornos anuales de las farms eran estratósféricos, al haber poca liquidez al comenzar. Estoy hablando de retornos del 200 000%! (si ponías $100, sacabas $547 diarios!). Claro, este retorno decayó rápidamente y hoy está sobre los 6000%.
¿Qué creen que sucedió? La gente empezó a mover su dinero de BenSwap para MistSwap. **El token EBEN perdió el 70% de su valor.**
Ahora mismo BenSwap está casi muerta, aunque hoy ha tenido cierta recuperación.
Para poder usar smartBCH, tienes que tener BCH en esa red, pero al ser una sidechain **necesitas un bridge para mover dinero de otras blockchains hacia smartBCH**.
**Hasta hoy, solo podías mover criptos desde la red de Bitcoin Cash para smartBCH a través de un bridge de Coinflex.**
**Hoy lanzaron un par de bridges más: uno para pasar tokens de Ethereum a smartBCH, y otro para pasar de la Binance Smart Chain (BSC) para smartBCH.**
Estos son proyectos que se están realizando de la noche a la mañana, pues muchas veces reutilizan soluciones que ya se han logrado en otras blockchains.
En smartBCH hasta ahora **hay un total de valor aproximado entre todos los tokens de solo 30 millones**.
Esto tiene como consecuencia que **los proyectos básicamente están compitiendo por esos 30 millones**... no hay más dinero.
Sin embargo, **los nuevos bridges van a comenzar a atraer dinero rápidamente desde otras blockchains**, y desde el surgimiento de MistSwap se ha visto movimiento de dinero hacia smartBCH, provocando que el precio de BCH suba en el mercado. **Ha habido un gran pump de BCH**!
**La gente está preguntando en los foros por proyectos NFT**, y **hasta ahora no hay ninguno serio**, y los pocos que hay son muy específicos (proyectos particulares) y sin sustancia. No hay ningún marketplace de compra y venta de NFTs! **No hay** **Opensea****,** **Superare** **ni** **Foundation**. https://opensea.io/ https://superrare.com/ https://foundation.app/
Desde mi punto de vista, lo que está sucediendo con los Exchanges lanzados recientemente, y sobre todo con MistSwap surgido hace un par de días, es que **la comunidad de BCH está descubriendo la posibilidad de los** ***smart contracts*** **y de lo que se puede lograr con ellos**. Seguro los conocían, pero **estas aplicaciones le han demostrado a la comunidad que en smartBCH se puede tener lo mismo que hay en otras blockchains**. He notado mucho entusiasmo.
Ahora mismo **la comunidad está preguntando por marketplaces de NFTs** porque es lo que quieren más urgentemente, y seguro alguien en un par de días se aparece con uno. **Aún NO veo a nadie preguntando por un juego Play-to-Earn basado en NFTs**, a lo Axie Infinity. Quizás crean que no lo necesitan, o quizás no ha dado tiempo en 2 días a pensar en eso. https://axieinfinity.com/
Por otro lado, **la comunidad de desarrolladores en smartBCH NO parece muy grande**. Incluso los desarrolladores son reconocidos por casi todos los miembros de la comunidad. Son muy poquitos desde mi apreciación. Definitivamente NO existe un grupo grande de desarrolladores.
Pero... esto último abre una posibilidad inmensa a cualquier nuevo desarrollador que entre en el ecosistema!
**Y ESTE ES PRECISAMENTE MI PUNTO.**
**smartBCH va a necesitar un desarrollo acelerado de soluciones**. **Y no es algo que la comunidad haya notado hasta hace 2 días atrás, cuando recibieron las primeras grandes aplicaciones descentralizadas (dApps)**, sobre todo con MistSwap. Hasta ahora parece que estaban en la era ICO, lanzando nuevos tokens a cada rato, pero probablemente como algo puramente especulativo.
**Tampoco tienen mucho marketing** y parece que no les importa mucho. Sin embargo, las nuevas aplicaciones han llamado la atención de muchas personas estos últimos días, sin necesidad de darles promoción - cualquiera sabe apreciar un retorno del 25 000% de su capital.
**¿Cuál es la gran oportunidad entonces?**
Desde mi punto de vista, siendo smartBCH compatible con la Ethereum Virtual Machine, simplemente **ahora hay que considerar a smartBCH como una posible red para desplegar soluciones**. Este es el punto más importante de este artículo.
**Desde el punto de vista económico se puede volver muy rentable, y la competencia es escasa.**
Ni siquiera hay que lanzarse con un sistema totalmente nuevo. Creo que lanzando herramientas que le sirvan a las personas, y que otras blockchains ya tienen y dan por sentadas, se pueden lograr grandes cosas.
También pueden ser proyectos grandes. **smartBCH va a necesitar su ChainLink** (red de Oráculos), su Opensea y su Axie Infinity.
**En el caso de un juego Play-to-Earn, creo que sí se puede innovar bastante**. No hay que clonar Axie Infinity u otros.
De hecho, **si yo tuviera una idea para un juego P2E, consideraría seriamente smartBCH como la blockchain para desplegarlo**. Estoy seguro que la comunidad lo apreciaría y se sorprendería MUCHO.
**Estimo que smartBCH solo va a crecer**. Solo hay que explorar un poco para darse cuenta de eso. Yo llevo 1 semana explorando, aunque he intensificado en los últimos 3 días. A mi no me extrañaría que surjan 10 proyectos grandes nuevos en la próxima semana.
**¿Y las DAOs? Pues en smartBCH ni se habla de eso. HUGE opportunity!**
En resumen, **estos son mis fundamentos para poner a smartBCH como red candidata para lanzar soluciones:**
**Recién comienzan a descubrir el poder de las dApps en su propia blockchain**, con las primeras Exchanges Descentralizadas.
**Solo hay 30 millones de dólares en valor dentro de smartBCH, debido a poco marketing y la existencia de un solo bridge** que permitía mover solamente de la red Bitcoin Cash (fork de Bitcoin) hacia smartBCH.
**Hoy surgieron dos bridges**, que permitirán atraer dinero desde Ethereum y la Binance Smart Chain. Veo 30 millones más entrando en los próximos 30 días.
**Comienzan a reclamar proyectos NFT** al probar las primeras dApps corriendo sobre su red con **bajos fees y alto rendimiento** (esto lo he comprobado y es la hostia!). **NO tienen marketplace de NFTs**, y **probablemente hayan pocos entusiastas y creadores de NFTs** para mantener un ritmo de oferta. O sea, **hay oportunidad hasta para creativos**, no solo desarrolladores.
**Aún no hablan de juegos Play-to-Earn basados en NFTs**. Inmensa oportunidad aquí!
**NO he visto el término DAO mencionado ni una sola vez**. No sé si lo conozcan, o si aún no les interesa. Seguro lo conocen, pero es que es super temprano aún en smartBCH y no es prioritario.
**La disponibilidad de desarrolladores es muy escasa**. Casi todos los desarrolladores son conocidos por la comunidad.
**Nuevos proyectos con tokens propios lo que harán es reforzar al resto del ecosistema**: más tokens para intercambiar, más posibilidades de trading, más Liquidity Pools a las que aportar capital, etc.
En resumen, mi pensamiento es el siguiente:
**Si Ethereum es Manhattan, smartBCH es el desierto de Nevada con potencialidad de convertirse en Las Vegas.**
Así se siente cuando entras a ver las soluciones existentes. Un poco desiertas pero con algo de actividad, algunas cositas dispersas, pero nada sólido todavía.
Hay muchos casinos por construir ahora mismo!!!
@mortinp
