Over the last months the Smartbch Project has grown with many projects, custom tokens and the total value locked (TVL), in five Smartbch Decentralized Exchange (dex), platforms, has more than 180% increased since November 3.
Smartbch Defi TVL Climbs 180% In One Month —Bitcoin Cash Universe Now Features 5 Dex Platforms
A new website, smartbch.org was launched eight months ago to introduce bitcoin cash proponents. It featured a project called Smart Bitcoin Cash (or Smartbch). Smartbch is a Bitcoin Cash sidechain that is compatible with Ethereum’s EVM and Web3 API, but further allows people to interact with smart contracts and custom tokens for extremely low data transfer fees.
The chain statistics for total-value locked into decentralized finance (defi), which shows that Smartbch is worth $36 million today, show that Smartbch’s value. That’s more than 180% higher than the Smartbch TVL of $12.9 million recorded on November 3.
The metrics derived from defillama.com indicated there were three dex apps at that point. Smartbch currently has five different dex applications, which include Benswap (Mistswap), Muesliswap, Tangoswap, 1bch.com.
According to Defillama.com, Benswap’s Friday TVL dominance rating was 49.28%. Tangoswap and Mistswap have the second and third largest TVLs following Benswap’s lead. Smartbch occupies the 47th position in the TVL rankings, according to the number of defi TVLs per chains. Ethereum is the most valuable TVL with $179.48 Billion.
SEP20 Tokens, Smartslp and the Smartslp tool
The marketcap.cash web portal shows that there is a significant number of Smartbch and SEP20-based tokens gaining fiat value. Wrapped BCH is the top SEP20 token, but many other SEP20-based tokens are available such as coin flexusd.flex.cash (FLEXUSD), green Ben (EBEN), mist.mIST and law.
Greenben, (EBEN), is today’s third-largest token market with $16 Million USD. Smartbch coins, such as joystick.club, flex coin and cash cats are also top-selling SEP20 tokens. The list also includes a lot of SEP20 tokens which were popular Simple Ledger Protocol tokens (SLP).
SEP20 is the new standard for old SLP cryptos, such as spice, joy and honk. Fountainhead.cash developers created a web3 interface which allows users to create Smartslp coins.
“Smartslp are simple SEP20 (Smartbch’s version of SEP20) tokens that have the ability for the creator to mint new tokens (and end the ability to issue new tokens) and for users to burn tokens,” the fountainhead.cash developers detail. “They also have a predictable supply mechanism (they are created with X tokens off the bat), whereas SEP20 does not specify a supply mechanism.” The fountainhead.cash engineers further state:
Smartslp allows you to easily create tokens for tokens that don’t require advanced smart contract capabilities. Smartslp tokens also allow for the inclusion of documentUri’s, which makes it easy to notarize something. Smartbch is Smartslp’s foundation.
Bitcoin Cash Community Introduced To A New NFT Marketplace Called Oasis
Smartbch’s community has not only seen a variety of defi protocols but also the technology moving to non-fungible tokens (NFT), assets.
Teams and individuals have both been launching NFT collections and there’s a new Smartbch NFT marketplace called oasis.cash. Twitter has a social media platform. numerous postsNew Smartbch-based NFTs on display collections, art, collectibles.
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