WBCH

Wrapped SBCH

Wrapped SBCH or WBCH is a token that is equivalent to Smart Bitcoin Cash (SBCH) on the smartBCH chain. WBCH has become increasingly popular in the decentralized finance (DeFi) space because it allows for the seamless transfer of SBCH on the smartBCH blockchain, while also enabling it to be used in a variety of other applications.

What is Wrapped SBCH (WBCH)?

Wrapped SBCH (WBCH) is a token that represents Smart Bitcoin Cash (SBCH) on the smartBCH chain. Essentially, WBCH is a tokenized version of SBCH that is pegged to the value of SBCH at a 1:1 ratio. This means that for every WBCH token, there is an equivalent amount of SBCH that is held in reserve.

The creation of WBCH was a response to the limitations of SBCH itself, which is not well compatible with SEP-20 tokens. As such, WBCH was designed to enable the use of SBCH in DeFi applications, which are built on top of the smartBCH blockchain and rely heavily on SEP-20 tokens.

Benefits of WBCH

The main benefit of WBCH is that it enables SBCH to be used in DeFi applications without having to sacrifice its native properties. SBCH can be wrapped into WBCH and then used in a variety of applications, including lending and borrowing, decentralized exchanges, decentralized games, and other DeFi protocols. Additionally, WBCH can be traded on a number of decentralized exchanges, making SBCH more accessible and liquid.

How WBCH Works

To wrap SBCH into WBCH, a user sends their SBCH to a smart contract that mints an equivalent amount of WBCH. This WBCH can then be used in a variety of DeFi applications or traded on decentralized exchanges. To unwrap WBCH and convert it back into SBCH, a user simply sends their WBCH to the smart contract, which burns the WBCH and releases the equivalent amount of SBCH back to the user.

The process of wrapping and unwrapping SBCH can be done easily through the BenSwap DEX interface. Most of the DeFi protocols on smartBCH also have built-in support for WBCH.

Contract

WBCH: 0x3743eC0673453E5009310C727Ba4eaF7b3a1cc04