General Protocols has announced the full production release of BCH Bull, a decentralized trading platform built on Bitcoin Cash. It allows users to create long or hedge positions against a variety of assets, including gold, silver, BTC, Ethereum, and fiat currencies such as USD, CNY, and INR. Unlike Ethereum-based applications, BCH Bull distinguishes itself with the individuality of each trade’s smart contract, eliminating centralized contract risks.
Enhancements to Improve User Experience
Since its beta release in October 2022, BCH Bull has created and redeemed over 3,000 smart contracts. The production release introduces a range of enhancements to improve user experience, including doubling the contract size, tripling the contract duration, cutting fees, incorporating Chinese Yuan as an additional trading asset, integrating a premium tracker, and offering language localization to its Chinese users.
CashTokens: A Fully Backed, Liquid Solution to Combat Cryptocurrency Price Volatility
As CashTokens emerges with the upcoming Bitcoin Cash network upgrade, BCH Bull users in the future could trade contract positions, offering a potential alternative to traditional stablecoins. This development promises to enhance user experience on BCH Bull and expand the reach of Bitcoin Cash-based financial solutions. General Protocols aims to help develop a true peer-to-peer, global digital economy, accessible, affordable, and useful to everyone in the world through trustless, permissionless, and non-custodial solutions that allow economic freedom for all.
General Protocols leverages the scalable UTXO-based protocol of Bitcoin Cash to avoid high transaction fees and ensure network fees do not rise with increasing transaction volume. The AnyHedge protocol, which forms the foundation of BCH Bull contracts, has already been listed on DefiLlama and has achieved over $1 million USD total value locked. The upcoming Bitcoin Cash network upgrade on May 15, 2023, promises even more possibilities, such as CashTokens for identity tokens, covenant-tracking identity tokens, voting with fungible tokens, sealed voting, multi-threaded covenants, NFTs, and multi-covenant decentralized applications. BCH Bull is a testament to Bitcoin Cash’s expanding ecosystem for smart contract deployment and DeFi DApp creation, paving the way for further innovation.