Rapid GROWTH of the SmartBCH network - DeFi, NFTs BOOMING

over 3 years ago (Edited)

Source (modified)

With the release of the mainnet of the SmartBCH sidechain, Bitcoin Cash becomes an investing opportunity nobody should skip.

There are rapid developments lately, and probably some are not thinking about getting involved. However, this isa a prof endeavor, and it is a duty to inform our readers.

Rapid Growth

SmartBCH’s was released just a couple of months ago. It is important to notice that the mainstream crypto media did not cover this event at all. None of the crypto media is credible, but when there is innovation, they should be promoting instead of ignoring.

Therefore, there are valid reasons everyone outside BTC dispises BTC maximalists and the censorship a small group in control promotes. It only proves the narrow-mindedness of the followers of this logic.

Moving on, though. SmartBCH is experiencing profound developments lately.

I’ve been paying attention to Ethereum DeFi since 2019.

I think that the first time the DeFi term appeared was in 2018, although it only started getting “hot” in late 2019. By the beginning of 2020, Vitalik went on with various Tweets and speeches praising the Decentralized Finance technology and advocating its merits.

Ethereum had DEXs before (EtherDelta, ForkDelta, and more) but these never offered financial services as lending and yield farming.

I remember how low in attention was DeFi in the beginning, how it started, and how it attracted billions of dollars. It was through developments and not through just marketing in the crypto media.

Source , (modified)

Currently, three DEXs are operating in SmartBCH, offering DeFi opportunities similar to Ethereum and BSC.

High yields are available, and interest is slowly rising.

As with the Ethereum DeFi, getting in something revolutionary very early was just a tiny window of opportunity that only lasted 4-6 months. Of course, Ethereum and BSC DeFi are always there to offer better yields than the banking system. Although, the most profit is made when getting in early enough not to risk too much.

SmartBCH has small fees (about 3 cents per transaction). There are no $100 fees to make a trade or interact with a contract.

BCH burned daily through SmartBCH fees

Source.

Ethereum added a burning process with a recent upgrade ("London") and this event alone had an extreme effect on price.

Moreover, this chart, explains the increasing interest in SmartBCH. I expect the burning of BCH to increase rapidly with the new developments and interest in this network.

Clearly, there are some early opportunities with SmartBCH already:

Yield Farming with SmartBCH DeFi

I am not so experienced in DeFi and still learning the process, but I am always trying to time my investments well. Performing research and due diligence is equally significant with timing our investments carefully.

MuesliSwap DEX - ROI calculator

We always take a risk and anything can happen, especially with DeFi, when there have been hundreds of rug pulls so far.

NFTs

I skipped the part of NFTs development on SmartBCH. There is one series of NFTs, “Poolside Puffers”, that is unique and had a good purpose since all proceeds were donated to an orphanage in Vietnam.

One of my Puffer NFTs

Corbin Fraser from Bitcoin.com is behind this NFT collection, and investors minted the 2100 Puffer NFTs in just three days.
A new NFT marketplace dedicated to SmartBCH NFTs is under development and will be announced in a couple of weeks.
Oasis will become the home of NFT trading for SmartBCH NFT collectibles.

In Conclusion

There are more DEXs under development and a few Dapps that could become a game-changer.

The SmartBCH market in just three months is indicating very positive signs with an increasing and enthusiastic community.

It is now home to 3 DEXs, 30 projects with tradable tokens, and a few series of NFTs. Growth could reach parabolic terms, as it often happens in crypto with anything new.

SmartBCH is there for all and it doesn’t have to be about just the Bitcoin Cash community. It is a bridge to Ethereum and uses the Bitcoin Cash network for low fees.

For this reason I published this article first on Hive, perhaps some that read it may understand they are about to miss another huge opportunity.