Over the past few months, the Smartbch project has been enriched with numerous projects, custom tokens and the total locked-in value (TVL) on five Smartbch decentralized exchange (dex) platforms has jumped over 180% since the November 3.
Smartbch Defi TVL climbs 180% in one month – Bitcoin Cash Universe Now Has 5 Dex Platforms
Eight months ago, bitcoin cash (BCH) supporters discovered a new website (smartbch.org) that featured a project called Smart Bitcoin Cash or Smartbch for short. Smartbch is a Bitcoin Cash side chain compatible with Ethereum’s EVM and Web3 API, but additionally allows users to interact with smart contracts and custom tokens for extremely low data transfer fees.
The chain’s statistics in terms of total value stuck in decentralized finance (challenge) indicate that Smartbch is worth $ 36 million today. That’s over 180% more than the $ 12.9 million TVL Smartbch recorded on November 3.
At that time, metrics derived from defillama.com indicated that there were only three dex apps. Today, Smartbch offers five dex apps, including Benswap, Mistswap, Muesliswap, Tangoswap and 1bch.com.
Defillama.com measurements show Benswap has a TVL Friday dominance rating of 49.28%. Tangoswap and Mistswap have the second and third largest TVL after Benswap. Based on the size of the TVL challenge per channel, while Ethereum holds the top TVL with $ 179.48 billion, Smartbch occupies the 47th TVL position.
SEP20 tokens and Smartslp tool
Statistics from the marketcap.cash web portal show a large number of Smartbch or SEP20 tokens collecting fiat value. The best SEP20 token is of course wrapped BCH, but there are many more like flexusd coin (FLEXUSD), green ben (EBEN), tango (TANGO), haze (MIST) and law (LAW ).
Greenben (EBEN) is today the third largest market capitalization with a value of 16 million US dollars. Other top SEP20 tokens by market valuation include Smartbch coins such as celery, flex coin, cash cats and joystick.club. There is also a large portion of the SEP20 tokens that were once very popular Simple Ledger Protocol (SLP) tokens represented in the list.
For example, older SLP cryptocurrencies like spice, joy, and klaxon have migrated to the SEP20 standard. In addition to the transition from the old SLP tokens, the developers from Fountainhead.cash have created a web3 interface that allows users to create Smartslp tokens.
“Smartslp are simple SEP20 tokens (Smartbch version of SEP20) which have the possibility for the creator to create new tokens (and to end the possibility of issuing new tokens) and for users to burn tokens”, detail the developers of Fountainhead.cash. “They also have a predictable provisioning mechanism (they are created with X tokens up front), whereas SEP20 does not specify a provisioning mechanism.” The engineers at Fountainhead.cash further state:
For tokens that don’t need advanced smart contract capabilities, creating a token using Smartslp is probably all you need to do to get started. Smartslp tokens also allow the inclusion of documentUri, which makes it easier to legalize something. Smartslp is built on Smartbch.
The Bitcoin Cash Community Has Been Introduced to a New NFT Marketplace called Oasis
The Smartbch community not only sees a number of challenge protocols, but the technology is also moving towards non-fungible token (NFT) assets.
Individuals and teams have been launch of the NFT collections and there is a new Smartbch NFT Marketplace called oasis.cash. The social media platform Twitter also many messages showing the new NFT based on Smartbch collections, art, and collectibles.
What do you think of the recent growth of the Smartbch universe? Let us know what you think of this topic in the comments section below.
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