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Tuesday, 31 August 2021

How earning interests with you BCH in BenSwap (SmartBCH) works?

BenSwap allows you to stack WBCH (which is just wrapped BCH on the SmartBCH so it can interact with smart contracts) to earn interest. If I understand it correctly, you earn rewards in their own token (EBEN). Right now they offer ~15% APY but I think this is pretty volatile.

The risks are:

  • EBEN going to 0: you earn nothing but your BCH is safe.
  • Smart contract hack: you lose your funds.

I think there's no impermanent loss risk because it's not a liquidity pool, can anyone confirm how it works? Benswap it's audited in BSC and the developer affirms the smart contracts on SmartBCH are the same.

submitted by /u/libertarian0x0
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from Bitcoin - A Peer to Peer Electronic Cash System https://ift.tt/3ysyOOM

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