Smartbch Defi Universe expanded-dozens of SEP20 tokens, $ 12.8 million total value blocked in Dex platforms-defi

On April 1, Bitcoin.com News published a detailed report on the protocol Smart Bitcoin Cash (SmartBCH) and its compatibility with Ethereums EVM and Web3-API before smartbch projects were seen in the wild. Seven months later, Smartbch is very mature and metrics show that between three decentralized financial protocols (Defi) a total value of around $ 12.8 million is blocked for smartbch-based applications.

Defillama pursues Smartbch, $ 12.8 million blocked by 3 Dex protocols

It was an active year for decentralized financial applications (Defi), since the Total Value Locked (TVL) in defi exceeded this week. In the meantime, the top defi blockchains such as Ethereum, Binance Smart Chain, Solana, Polygon, Avalanche, Terra and more have the TVLs rise.

In addition, smaller defi networks such as Zilliqa, Algorand and SmartBCH TVLs also expanded. The Bitcoin Cash-based Smartbch Protocol has expanded a lot for the first time since Bitcoin.com reported on the subject.

In the first week of September, the members of the Bitcoin Cash Community discussed Benswap.cash. Since then there have been a number of smartbch compatible Dex applications and Non-fungable token (NFT) projects were seen in the wild. On Wednesday the official Twitter account of the web portal Defillama.com tweeted that the Defillama Team Smartbch is pursued.

"Now Smartbch is being followed," said Defillama's Twitter account. "Smart Bitcoin Cash (Smartbch for short) is an EVM-compatible Sidechain for Bitcoin Cash and has the goal of researching new ideas quickly, safely and decentrally."

Statistics show that Smartbch has a TVL of $ 12.8 million between three defi protocols on November 3, 2021. The SmartBCH-DEFI applications that are pursued by Defillama.com include Benswap, Mistswap or Muesliswap. Benswap has around 5.71 million US dollars, Mistswap has $ 5.49 million and Muesliswap has around $ 1.66 on Wednesday. At 44.38 % of the $ 12.8 million TVL, the Benswap TVL is the most dominant among the three Dex platforms.

The tokens exchanged on Benswap include coins such as (even), Flexusd (Flexusd), Flex (Flex), law (law) and cashcats (cats). According to the metrics of the web portal smartbch.fountainhead.cash , 49.373 Bitcoin-bargeld ( bch ) Value of $ 29 million is now blocked in Smartbch. Approximately 52.5 bch was burned or $ 31.482, and there are more than 434,000 contracts. The web portal Marketcap.cash leads a list of smartbch (SEP20) token with regard to the size of each individual coin market capitalization.

dozens of SEP20 tokens, bridge development, Beachwap 'rug pull'

Today, the SEP20 token with the second largest market assessment under Bitcoin Cash (Eben), which is for USD 0.74. Coin is traded. The StableCoin Flexus is the third largest upper limit, while manure (manure) is the fourth and is traded for $ 0.011 per token. Some time ago, the SmartBch Bridge, which comes from the Coinflex crypto trading platform, was the only bridge that could access the EVM compatibility of the SmartBch network.

Now a few different bridges are brought to life, as Mota Global War Development of a Smartbch-Bridge , The BCH Ekliptor has a Sep20-Bridge called. created prompt.cash/bridge , and another name is provided tokenbridge.cash , which is in the middle of it of "a complete code review and validator voting".

Bitcoin-Cash supporter who test the smartbch network with some of the decentralized applications (DAPPS), decentralized Exchange platforms (Dex) and cross-chain bridges should always pay attention to possible losses, hacks and RUG pulls. Recently Smartbch saw his first "Rug-Pull", as it was BEACHER output ".

Some of the bridges mentioned above have just been published and users should test small fractions to check the reliability. On September 8 Bitcoin.com News reported on the Dex Benswap and at the time when the project was not checked. Since then, however, the company Certik has an audit "basic protection and evaluation" of the dex platform.

Photo credits : Shutterstock, Pixabay, Wiki Commons, Marketcap.Cash, Defillama.com