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Revisiting DeFi on Bitcoin Cash - Smart BCH Tour Guide

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@jerrythefarmer
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SmartBCH is not a very common term in crypto because all communities seem to have issues with Bitcoin Cash. Some will call it fake, others will ignore it completely but Jerry will always look under the hood and try to spot opportunities in other people's ignorance.

7 Months ago I mentioned that the BCH farming season is officially open and while things didn't move very far I can safely say that farms on SmartBCH have been a total breeze compared to the rest of the market.

Here are a few protocols I find specifically interesting:

Mist Swap

Mist Swap is your ordinary AMM but with a great bridging solution that every chain should have. The Mist bridge doesn't only let you move coins from other chains but it also helps you convert crypto into Smart BCH directly.

You can even "bridge" Zcash.

When you start the bridging process you will be given a deposit address where you send your Zcash and it will be converted into BCH that will be deposited directly into your wallet. There are some fees included in the process and the swap rates aren't always favorable so be sure to double-check everything before executing the transaction.

Goblins Cash

I found this one here on LeoFinance but I forgot who made that post. I followed Goblins Cash since then because I wanted to see how DeFi 3.0 reacts on a non-mainstream network like SmartBCH and it is doing surprisingly well.

The price did take a significant hit but even if you entered at the very top the APY would cover most of your losses.

Buying anywhere below $500 would put you in profit which isn't the case with most DeFi 2.0 projects out there.

BenSwap

BenSwap is a project that initially launched on BSC and expanded to Smart BCH. The exchange token did go down with the whole market but farms can still offer APY between 35% and 200%.

There is nothing special about the project itself, it's just an interesting spot to visit if you ever wander into Smart BCH territory.

HelpMe

If you do consider coming over to SmartBCH HelpMe is a great tool for discovering new and upcoming projects.

Here you can find farms, staking platforms, tools, and a bunch of other stuff related to this chain. It's a great discovery dashboard for newbies and APY hunters.

Conclusion

Even though SmartBCH may seem like a lively place liquidity is not that great so investing smaller amounts is my personal recommendation. Most of the projects are built by anons but they seem to be very active and communicative from what I had a chance to see.

In terms of innovation, you won't find anything mindblowing over there but Goblin Cash definitely exceeded my expectations, that's for sure. For a protocol that is still paying 200K% APY, the price is holding up really good.

All in all, I would say that SmartBCH is worth checking out but surely not a place where you want to keep most of your crypto.

Posted Using LeoFinance Beta