The launch of BCH Bull by General Protocols marks a new era in decentralized trading, grounded in Bitcoin Cash’s AnyHedge Protocol.
Singapore, Singapore, May 1st, 2023, Chainwire
General Protocols The full production launch of BCH Bull , an innovative decentralized trading platform established on Bitcoin Cash . With the use of smart contracts on the Bitcoin Cash mainchain, BCH Bull allows users to take long or hedge positions against a range of assets, including Gold, Silver, Bitcoin, Ethereum, and various fiat currencies like USD, CNY, and INR.
Built on the AnyHedge protocol , BCH Bull utilizes the efficient UTXO-based protocol of Bitcoin Cash, helping to minimize transaction fees and ensuring that network charges do not spike as transaction volumes increase. Since its beta debut in October 2022, BCH Bull has successfully created and settled over 3,000 smart contracts, with the AnyHedge protocol serving as the core of these contracts. listed on DefiLlama This achievement has already unlocked over $1 million USD in total value.
One key feature that distinguishes BCH Bull from Ethereum-based platforms is the uniqueness of each trade's smart contract. The moment two traders reach an agreement, the smart contract comes into play, which helps eliminate the risks associated with centralized contracts.
The official rollout of BCH Bull introduces a variety of upgrades aimed at enhancing the user experience. These improvements include doubling the maximum contract size (up to $25,000 USD for hedge positions and $6,250 USD for 5x long positions), increasing the contract duration to 90 days, reducing fees by roughly 30%, adding Chinese Yuan as a new trading asset, integrating a premium tracker , and providing language options tailored for Chinese users.
BCH Bull exemplifies the growing ecosystem of Bitcoin Cash for smart contract applications and DeFi decentralized applications, setting the stage for future advancements. The forthcoming Bitcoin Cash network upgrade on May 15, 2023 , promises even broader opportunities, such as CashTokens for identity tokens, tracking covenants with identity tokens, voting using fungible tokens, secure voting options, multi-threaded covenants, NFTs, and decentralized applications that utilize multiple covenants.
With the arrival of CashTokens as part of the upcoming Bitcoin Cash network updates, future BCH Bull users might have the option to trade contract positions, representing a viable alternative to traditional stablecoins. In light of the recent challenges encountered by algorithmic stablecoins and the issues surrounding centralization risks, CashTokens offer a robust, liquidity-backed response to cryptocurrency price volatility. This evolution is set to significantly enhance the BCH Bull user experience and broaden the scope of Bitcoin Cash-based financial solutions.
About General Protocols
General Protocols We are experts in UTXO, creating peer-to-peer, open-source financial instruments and services that run on the Bitcoin Cash blockchain. General Protocols aims to foster a truly decentralized global digital economy that is accessible, affordable, and beneficial for everyone. We believe in creating trustless, permissionless, and non-custodial systems that empower economic freedom for all.
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John Nieri
General Protocols
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