DeFi on SmartBCH

**Warning: This article is old. It is no longer recommended to use SmartBCH, as it has been replaced by CashTokens**

Prerequisites

• Bitcoin Cash (you can buy BCH on Coinbase)
• MetaMask for Firefox, Chrome, Android, ...

Step 1

Start MetaMask & write down your seed words, set a password

Configure MetaMask for SmartBCH:

• Go to: https://chainlist.org/?search=SmartBCH
• Click "Add to MetaMask"

Step 2

• Swap Bitcoin Cash for SmartBCH using a bridge, like prompt.cash
• Type in the amount
• Paste the 0x address (from SmartBCH!) in the field
• Click "Exchange BCH"
• Pay the amount and wait for confirmation on the blockchain (~10 minutes)
• You should see the amount minus the bridge fee in your MetaMask wallet

Hop.cashis another bridge widely used which requires you connect to your Metamask wallet.

Step 3

• Connect MetaMask to a DEX
• Convert ~49% of your Bitcoin Cash in MetaMask to a token of your choice (for example: CashCats) - you can do that on BenSwap or a DEX of your choice - use SmartSwap to get the best exchange rate

Step 4

• For some trading pairs you need WBCH or wrapped BCH, you can swap BCH for WBCH in the trade menu
• Select BCH and your token and add Liquidity on your favorite DEX - this menu should be under "Trade -> Liquidity" or "Pool" depending on the DEX you're using BenSwap, MistSwap
• Now you will receive LP (Liquidity Provider) tokens. LP tokens represent your share of liquidity (if you're staking 1 BCH and 200000 CATS you may get 0.7 BCH and 300000 CATS back when you're unstaking them after a week!)

Step 5

• Go to "Farms" or "Farm" and stake your LP tokens
• From now on you can harvest money - you can swap half of your harvested tokens for BCH or WBCH and add that in a farm again

Notes

• The APR % goes down significantly if you add a lot of liquidity to a small farm. Use a large farm if you're planning to add a lot of liquidity.
• Do some research about the token(s) you're about to buy
• Some DEXes are audited, but not all of them - an audit is a good sign
• Be careful and don't get scammed

Links

DEXes

• BenSwap
• TangoSwap
• MistSwap
• 1BCH
• CowSwap
• Tropical.Finance

Bridges

• hop.cash

Market overview

• Marketcap.cash