As the smartBCH DeFi ecosystem keeps growing exponentially, the projects that are currently gaining the most attention are the decentralized exchanges (DEXs).
As of today, there’s a total of 6 DEXs on smartBCH, according to data from DeFiLlama.
In this post, we will be discussing everything you need to know about each of them so that you can determine which one best suits your personal trading and investment profile.
You can even try and test them all to see which of them offers what you consider to be the best user experience.
So, without much ado, let’s examine the top 6 decentralized exchanges on the smartBCH network.
Top 6 decentralized exchanges on smartBCH
The order in which the top 6 DEXs on smartBCH below are listed is based on the total value locked (TVL) in each of them as seen on DeFiLlama.
- BenSwap (EBEN)
- MistSwap (MIST)
- TangoSwap (TANGO)
- Tropical Finance (DAIQUIRI)
- 1BCH (1BCH)
- MuesliSwap (MILK)
Let’s briefly discuss each of them below and see what features and prospects they hold.
1. BenSwap (EBEN)
BenSwap is the first decentralized exchange on smartBCH launched in late August 2021.
It is a clone of BenSwap on Binance Smart Chain (BSC) and is run by the same anonymous developers.
The project aims to become not just one of the leading DEXs on SmartBCH, but also a one-stop-shop service provider for all projects that are building on the chain.
In addition to its primary function as a DEX which facilitates instant token swaps and trading on smartBCH, the following are the features of BenSwap.
- Yield Farming: BenSwap lets you stake your liquidity provider token (LP) on the BenSwap Farms to earn EBEN.
- Staking: The BenSwap Pools allow you to stake your EBEN and WBCH tokens to earn more EBEN.
- Lottery: If you like gambling, then the BenSwap lottery program is a feature you’ll enjoy. It allows you to buy lottery tickets with EBEN for a chance to win great prizes.
- BenLock: BenLock is a tool that allows token developers to time-lock their tokens to assure investors confidence.
- SEP-20 Factory: The BenSwap SEP-20 Factory is a feature that allows you to create and manage your own SEP-20 tokens on smartBCH.
- Launchpad: BenSwap operates a decentralized IDO platform that allows project developers to raise funds for their projects and investors to participate in new token launches on smartBCH.
- ChartPro: ChartPro is a charting tool that supports SEP20 tokens that have liquidity on BenSwap.
BenSwap has the lowest trading fee among the current DEXs on smartBCH.
The exchange charges a 0.2% trading fee on all swaps, of which 0.15% is distributed among liquidity providers and 0.05% is sent to the BenSwap Treasury.
BenSwap Token (EBEN)
The native token of BenSwap is called EBEN which is used to:
- Reward liquidity providers in the farms and pools
- Pay to launch on BenSwap IDO, Advertise on ChartPro, Create SEP-20 token, Use BenLock, and other premium features.
- Participate in governance.
BenSwap has been audited by Certik and has a Certik Security Score of 93%. It’s also not been hacked so far.
So, to some extent, we can say BenSwap is safe until proven otherwise by a successful hack.
2. MistSwap (MIST)
It is a fork of the popular SushiSwap DEX, launched in October 2021, with a focus on providing the best rewards to liquidity providers.
Its multiple high APR farms, great team, and good user experience are the biggest attractions of the exchange.
- Swap: MistSwap is an AMM (automated market maker) DEX that lets you swap any smartBCH (SEP-20) token to another seamlessly.
- Farms: One of the biggest attractions of MistSwap is its many high APR farms where you can stake your liquidity provider (LP) token and earn MIST.
- MistBar (Staking): MistSwap helps you maximize your yields by letting you stake your MIST tokens for xMIST in the MistBar to earn a share of the 0.05% of all trading fees generated on the platform.
- MistSwap Analytics: Mistswap Analytics is a powerful tool that provides you with complete information on all tokens and trading pairs on Mistswap.
- MistLake: MistLake is the MistSwap’s one-way bridge to convert MIST on SLP to MIST on smartBCH on a 1:1 basis, and all SLP tokens are burned.
For every swap on MistSwap, 0.3% is deducted as a trading fee.
Out of that, 0.25% is distributed among liquidity providers proportional to their share of the pool.
And the remaining 0.05% of the swap fees are distributed as MIST to all MIST stakers in the MistBar proportionally.
MistSwap Token (MIST)
MIST is the native token of the MistSwap protocol and has the following use cases:
- MIST is used to reward liquidity providers on MistSwap.
- It can also be staked to earn more MIST generated from trading fees.
- MIST can equally be used to participate in the governance of the MistSwap protocol.
The MistSwap MasterChef is controlled by a 3-day Timelock, which delays all admin actions and gives investors enough time to react accordingly before execution.
3. TangoSwap (TANGO)
TangoSwap is the first decentralized exchange on smartBCH with a non-anonymous team.
Ian is a public member of Bitcoin Cash (BCH) Argentina while Fernando is the Knuth node lead developer and BCHN contributor.
- Swap: TangoSwap is an AMM that allows you to easily and instantly swap any SEP-20 token to another.
- TangoBar (Staking): TangoSwap helps you maximize your yields by letting you stake your TANGO tokens for xTANGO in the TangoBar to earn a share of the 0.05% of all trading fees generated on the platform.
- Farms: TangoSwap has dozens of farms where you can stake your liquidity provider (LP) token and earn TANGO with juicy APRs.
- Tango SmartSwap: A DEX aggregator which gives you the best exchange rate using the liquidity of all SmartBCH DEXes, similar to 1INCH. This feature has not been released yet.
TangoSwap charges a 0.3% swap fee and distributes 0.25% of that among all liquidity providers.
The remaining 0.05% is distributed as TANGO to all TANGO stakers in the TangoBar.
TangoSwap token (TANGO)
TANGO is the native token of TangoSwap and has the following use cases:
- It is used used to reward liquidity providers on the exchange.
- It can also be staked in the TangoBar to earn more TANGO generated from trading fees.
- TANGO can also be used to participate in the governance of the TangoSwap protocol.
The TangoSwap MasterChef is controlled by a 3-day Timelock.
This gives investors enough time to observe and react to any changes made by the dev before they’re executed.
Furthermore, TangoSwap has been audited by 0xGuard.
4. Tropical Finance (DAIQUIRI)
Tropical Finance is probably the hottest DEX on smartBCH right now with its insane APR farms and super active community.
It’s also currently one of the fastest-growing projects on smartBCH with TVL reaching a new ATH (all-time-high) almost every week since it launched on December 14, 2021.
Tropical Finance was a fork of the popular PancakeSwap DEX on BSC.
Tropical Finance features
- Trade: Tropical Finance allows you to easily and instantly swap any SEP20 token to another.
- Tropical Islands (Farms): On Tropical Islands, you can stake your liquidity provider (LP) tokens to earn DAIQUIRI.
- Tropical Pools: Tropical Pools allows you to can stake DAIQUIRI and other supported tokens such as WBCH, FlexUSD, LAW, CELERY, etc, to earn more DAIQUIRI.
- NFT Marketplace and Staking: Coming soon to Tropical Finance is its NFT marketplace and staking among other really cool features listed on their roadmap.
- Token Burns: A portion of the trading and other fees generated on Tropical Finance is used to buy back and burn DAIQUIRI on a regular basis.
Tropical Finance fees
Like BenSwap, Tropical Finance also has the lowest trading fees among the DEXs on smartBCH.
The exchanges charge a 0.2% trading fee on all swaps.
Out of that, 0.17% is distributed among liquidity providers and 0.03% goes to the team.
Tropical Finance Token (DAIQUIRI)
DAIQUIRI is the native token of the Tropical Finance DEX.
The token has a maximum supply of 31,000,000 and is primarily used to reward and encourage liquidity providers on the platform.
DAIQUIRI will also be used to buy NFTs on Tropical NFT Marketplace, participate in launchpads, lottery, governance, etc.
PS: I am currently invested in the DAIQUIRI single staking pool and have been enjoying the high APR plus increasing token value.
Tropical Finance security
Tropical Finance has been audited by TechRate.
5. 1BCH (1BCH)
1BCH is another smartBCH DEX that was launched in November 2021 with the aim of becoming the leading decentralized exchange on SmartBCH, with the highest trading volumes.
The team has been actively working on 1BCH.com since 2018 when it was just a BCH-focused exchange.
- Trade: 1BCH DEX allows you to easily and instantly swap any SEP20 token for another. It also lets you swap supported SLP tokens to BCH and vice-versa.
- Farms: 1BCH lets you stake your LP tokens on dozens of Farms to earn RBCH.
- Sprinklers: The 1BCH Sprinklers feature allows you to rBCH to earn tokens of other projects for free.
1BCH charges a 0.25% trading fee on every swap.
Out of that, 0.17% is distributed among liquidity providers, 0.03% is sent to the Treasury, while 0.05% is used to buy back and burn rBCH.
1BCH Token (1BCH and rBCH)
1BCH maintains 2 native tokens, 1BCH (the native and governance token) and rBCH (the reward token).
1BCH is the main exchange token that will grant special access privilege to special features on 1BCH in the future.
rBCH on the other hand is just a farming token to incentivize platform usage and liquidity provision.
1BCH has been audited by InterFi Network.
6. MuesliSwap (MILK)
MuesliSwap is a multi-chain DEX currently available on the smartBCH and Cardano networks.
The exchange was launched on smartBCH in September 2021 via an ICO on their website by a team of anonymous devs.
- Trade: MuesliSwap is an AMM DEX that allows you to easily and instantly swap one SEP20 token to another.
- Farms: MuesliSwap also has a handful of Farms where you can stake your LP tokens and earn MILK.
- Milky Pools: The MuesliSwap Milky Pools currently lets you stake MILK to earn more MILK.
- MuesliPad: Easily create your own SEP-20 token, launch or participate in an ICO on MuesliPad.
- MuesliLock: MuesliLock allows you to check tokens for locked liquidity. Other locking features are said to be coming soon.
- Games: MuesliSwap operates BCH Games (a gaming platform) where you can play fun games and earn crypto.
MuesliSwap charges a trading fee of 0.20% on all swaps, all of which is distributed among liquidity providers.
MuesliSwap Token (MILK)
MILK is the native token that powers the MuesliSwap ecosystem.
It’s primarily used to reward liquidity provision on MuesliSwap, participate in MuesliSwap protocol governance, and support the future growth of the Muesli ecosystem.
MuesliSwap has been audited by TechRate.
There they are, the top 6 decentralized exchanges on smartBCH right now that are offering some really mouth-watering APR to investors.
As you may have noticed, they all have been audited, which shows that they take the issue of security very seriously.
Furthermore, most of the teams are partially or fully known to the public, further strengthening investors confidence in their legitimacy.
However, as with everything, there’s always a risk. So do your own research (DYOR) before using any of these DEXs and don’t invest more than you can afford to lose.
Which is your favourite and why? Share with us in our Telegram group.