SmartBCH, according to DefiLlama, has just reached an all time high of 37 million dollars in TVL (total value locked) within their EVM compatible ecosystem, with MistSwap (MIST) reaching second place and overtaking the other two DEXes, Tango and 1BCH, in TVL. It is now poised to be #1, at this rate, perhaps even overtaking BenSwap which sits at 62% dominance.
The growth of the SmartBCH chain can be attributed to a few things:
1) A vibrant international community supportive of many projects (such as that of SmartDoge and MIST, the most recent successes on SmartBCH)
2) Extremely low tx fees, much cheaper than those on Binance Smart Chain (BSC).
3) An extremely easy to use bridge on hop.cash, allowing for virtually any exchange supporting BCH to instantly onboard users to SmartBCH.
The highest potential for growth on this chain, however, lies in its current lack of DeFi primitives such as staking/validating, lending platforms such as AAVE, Compound, Curve, as well as leveraged trading on the blockchain. One such developer who has been developing for SmartBCH is Sergei, the creator of SmartDoge. He seeks to build the first leveraged crypto trading platform on SmartBCH, hoping to bring something new to the table and continuing to build on it using the SmartDEX.
What is SmartDoge?
Much like DogeBonk (a top 500 meme token on BSC, with very aggressive marketing and some nice memes), SmartDoge is a SafeMoon-esque fork that reflects rewards to its users, while also self-sustaining its own liquidity pool and increasing it the more volume there is. As of now, SmartDoge is a literal microcap, with about 13k USD worth of liquidity (keeping in mind it started with around 4k USD, a mere microcap!) in its liquidity pool. This coin has surged around 250% in the past few days, and has actually managed to sustain its price remarkably well, which makes us very optimistic about the future of this token!
As the number of holders of SMART grows, so does the liquidity, as a bot buys it and does the following automatically:
Set slippage to 12% when buying -> Router receives tax -> Sell half of BCH value for SMART → Binds the remaining half to BCH → Which is then added to the liquidity pool → Burns LP tokens completely
According to the research done by our team, the token contract does indeed seem verified and safe and there is no chance of a rugpull, as everything is visible on the blockchain, and the liquidity is timelocked for the foreseeable future -> https://github.com/smartdogebch/verify/raw/main/verify.pdf
However, what does actually SmartDoge do that those other coins do not?
According to the website the coin itself (which I may add is supporting Japanese and Chinese investors!), while a fun and fluffy money game, it actually serves to be somewhat of an ICO for the platform being built around it, called the SmartDex!
Buying SmartDoge right now allows you for a stream of airdrops on the upcoming DEX of xSMART, a governance and yield bearing token that is akin to buying xSUSHI on Sushiswap.
The upcoming SmartDEX will be feature-packed with functionality such as that of gTrade, as the developer, Sergei, has mentioned many times, allowing people on SmartBCH to do decentralized leverage trading.
The roadmap and the Telegram chat also support this notion, and BCH maxis are very happy to see active development on their chain. The coin has quite the rich roadmap ahead of it.
“SmartDex is a way of building the decentralized finance ecosystem of the future. Our goal is to build the most advanced and optimised suite of DeFi products in the space, as soon as the SmartBCH ecosystem allows for it and integrates price oracles that can help with liquidation mechanisms and accurate price feeds. SmartBCH’s cheap fees and scalability make me optimistic that this can definitely be done, and we are definitely not just another DEX” – Sergei, founder of SmartDoge on BCH.
Mentions of an Initial Farm Offering and Launchpad platform being integrated onto the SmartDEX are also present, which makes us very bullish on SMART being the official mascot of SmartBCH, with BUIDLers and HODLers of BCH uniting together! Every dog needs a house, this just might be the one for ol’ SMART.
The authors of this text firmly believe that SmartDOGE token has a future on SmartBCH and is here to stay, and is the most promising out of all the “meme” coins on BCH (and then some). The developer’s very open in discussing the project with anyone who asks, and they have already an established Weibo presence as well as having Chinese and Japanese investors on board with translations of the website available since the first day. Most meme tokens don’t put in this sort of effort into building a website or a community, so it’s very positive to see this level of attention to detail on SmartBCH. https://linktr.ee/smartdogebch You can find out more about them on their linktree!
Much like MIST is leading the DEXes, and JOY leading the gamified tokens, so is Smart leading the meme coins and hopefully delivering on the SmartDEX.
You can buy SmartDoge (ticker: SMART) on MISTswap | MISTswap using this link or by inputting the contract address: 0x6e6D4ECE35EEd638A1153339F69E543B7ae5F776 into and buying it with your BCH: https://app.mistswap.fi/swap
While SMARTDOGE has taken our hearts with its unique design and charm, so has MIST when it comes to DEXes!
Price action such as this also legitimizes Mist and has it poised to probably be the #1 dex thanks to its innovative “Farm Allocation Algorithm” and the fact it already got a CEX listing.
All in all, SmartBCH is one sleeper chain and definitely the one to watch out for, especially SmartDoge and MIST on it!
Disclaimer: The information provided on this website is for educational and entertainment purposes. The information provided on The Outlooker does not constitute investment advice, financial advice or trading advice. The Outlooker does not recommend purchasing any cryptocurrency. Crypto markets are highly volatile and crypto investments are risky. Readers should do their own research on cryptocurrencies and consult their financial advisers before making any crypto investments.
this looks good, I’m hoping the dev can deliver, but bullish for BCH either way if the dex ends up being successful