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Does Bitcoin Cash have DeFi?

Does Bitcoin Cash have DeFi?

Yes. Since the split from BTC, Bitcoin Cash has made many improvements to the Bitcoin Script virtual machine. These improvements have made DeFi applications more and more feasible. The CashTokens upgrade on May 15, 2023 enables DeFi capabilities rivaling those of EVM chains, though development is only just beginning. A sample of some DeFi applications is given below. More will be developed over time.

Flipstarter enables crowdfunding through a smart contract. Campaign supporters can sign a transaction spending an amount once a certain threshold is met. When the campaign reaches its goal, all the pledge transactions are spent, sending the funds to the originator of the Flipstarter. If the goal is not met, the transactions cannot be spent. Campaign supporters can remove their pledge at any time if desired.

BCH BULL allows users to take long positions with leverage, or hedge, with Bitcoin Cash against metals, fiat currencies, or other cryptocurrencies. This is all done entirely using smart contracts on Bitcoin Cash.

TapSwap is a non-custodial trading platform for CashTokens on Bitcoin Cash. Users must connect their Paytaca wallet using the Paytaca browser extension.

Cauldron DEX is an AMM decentralized exchange, currently in beta. Users can make instant trades for extremely low fees. More token listings and liquidity pools will be available soon.

Emerald DAO is a proof-of-concept project that showcases the power of CashTokens. For the first month after the CashTokens upgrade, users were able to lock 0.1 BCH into a smart contract and simultaneously mint an NFT key to that contract. One year after the upgrade, each NFT will be able to unlock its corresponding contract, burning the NFT and allowing access to the locked-up funds (plus a reward donated by enthusiasts). In the meantime the NFTS can be freely traded.