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Smartbch Defi TVL Climbs 180% in a Month — Bitcoin Cash Universe Now Has 5 Dex Platforms
Eight months ago, bitcoin cash (
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) proponents were introduced to a new website (
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) that featured a project called Smart Bitcoin Cash or Smartbch for short. 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.Chain statistics in terms of total-value locked in decentralized finance (defi) indicates that
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in value today. That’s more than 180% higher than the Smartbch TVL of $12.9 million recorded on November 3.At that time, the metrics that derived from defillama.com, indicated that there were only three dex applications. Today, Smartbch has five dex applications including
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,
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,
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,
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, and
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.Defillama.com metrics show that Benswap has a TVL dominance rating on Friday of 49.28%. Tangoswap and Mistswap have the second and third largest TVLs following Benswap’s lead. According to the size of defi TVLs per chain, while Ethereum holds the top TVL with $179.48 billion, Smartbch commands the 47th largest TVL position.
SEP20 Tokens and Smartslp Tool
Statistics from the web portal
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shows a large number of Smartbch or SEP20-based tokens gathering fiat value. The top SEP20 token of course is wrapped
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, but there are many others like coin flexusd (FLEXUSD), green ben (EBEN), tango (TANGO), mist (MIST), and law (LAW).Greenben (EBEN) is the third-largest market cap today with $16 million in USD value. 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 swathe of SEP20 tokens that were once very popular Simple Ledger Protocol (SLP) tokens represented in the list.
For instance, old SLP cryptocurrencies like spice, joy, and honk have migrated over to the SEP20 standard. In addition to the old SLP tokens transitioning, developers stemming from
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created a
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that lets users create Smartslp tokens.“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:
Bitcoin Cash Community Introduced to a New NFT Marketplace Called Oasis
The Smartbch community is not only seeing a number of defi protocols, but the technology is moving toward non-fungible token (NFT) assets as well.
Individuals and teams have been
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and there’s a new Smartbch NFT marketplace called
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. The social media platform Twitter also has
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showing off new Smartbch-based NFT
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,
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and
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.What do you think about the recent growth of the Smartbch universe? Let us know what you think about this subject in the comments section below.