Enabling Innovative DeFi Products on smartBCH with Cross-Chain Tokens
Hello Cross-Chain Community,
We are excited to announce that cross-chain transfers of ETH between smartBCH and Ethereum will be available on Cross-Chain Express starting today! (Jan 20th, 2021) (https://express.crosschain.network)
This cross-chain integration will enable more innovative DeFi trading opportunities between smartBCH and Ethereum.
Please note that Cross-Chain Express is only for merchants to Mint and Burn ccTokens at the moment. Below are the steps for using the Express features:
Steps for Merchans:
- Step 1: Choose whether you want to exchange your ETH from Ethereum network to smartBCH or smartBCH to Ethereum network
- Step 2: Double check your destination address
- Step 3: Cross-Chain exchange your crypto
“We calling for anyone who wants to be ccTokens’s merchant. If you are interested please reach out to the Cross-Chain Discord.”
For non-Merchant users:
- The only step is to pick one merchant you prefer to exchange from the merchant list! :)
The ETH contracts on smartBCH (ccETH): 0xaC86E33688b0CE8F98e0B780EE7F43407b667b8C
“Cross-Chain Express brings you convenient transactions and more utility for your crypto. We hope you all enjoy this new update.”
smartBCH is a sidechain for Bitcoin Cash and has an aim to explore new ideas and unlock novel possibilities. A sidechain is a blockchain designed for fast and inexpensive transactions with a special relationship with the main chain because of a two-way peg; in this case between Bitcoin Cash and smartBCH.
By developing optimized, high-throughput, and hardware-friendly libraries compatible with the de facto standards of smart contracts, DeFi applications can be easily migrated into Bitcoin Cash’s ecosystem and run fluently at low cost.
The DeFi Network has been gaining a lot of traction lately with smartBCH being the golden boy on the block. A DeFi opinion leader, Darren Lau, recently mentioned smartBCH in his tweet.
About Cross-Chain Tokens
Cross-Chain Tokens are the pegged tokens backed 1:1 with blockchain assets like Bitcoin that enable seamless integration of various crypto assets into different blockchain networks. Our vision is to bring more crypto utility for everyone by providing convenient cross-chain solutions. All Cross-Chain Tokens are fully backed and safeguarded by qualified third-party custodians and validators.