Decentralized App BCH Bull Prepares for Launch, Platform Allows Users to Long or Hedge Bitcoin Cash Against a Myriad of Tradeable Assets

There have been several projects in the Bitcoin Cash  ecosystem. The protocol Anyhedge released its alpha version. This protocol allows users to create smart contract onchain. The General Protocols team behind Anyhedge recently summarized the Anyhedge extension, which was possible after the new ruleset were applied last May to the BC network.

General Protocols plans to launch a dapp named BCH this month. This application allows users to trade BCH against various assets. CH Bull, a permissionless and uncustodial dapp that is built on the HCH chain. You can trade assets such as the U.S. Dollar, bitcoin ( TCH), ethereum( ETH), and precious metals like gold.

General Protocols Bull announces that by using the AnyHedge protocol (built and maintained by General Protocols), CH Bull will enable users to create 10x leverage smart contracts instantly with their wallets, without the need to sign up. The announcement from the team adds:

Users who wish to stabilize their purchasing power can also create hedging positions for those assets. This will provide a trustless and novel solution to crypto stability, which is essential for risk-averse users like miners, merchants, and other businesses that use cryptocurrency.

General Protocols explains that Anyhedge smart contract leverages the BCHT network’s unspent transaction output properties (UTXO), which gives them an advantage. The benefits include ‘being capable of handling high volumes with low fees while all contracts remain stateless and independent, which improves privacy and reduces any systemic security risk.

The project’s creators have stated that more than 100 onchain contracts were tested during the alpha testing, and each one was executed flawlessly and seamlessly. General Protocols summarised the achievements of Anyhedge’s Alpha testing.

The team revealed that there were 284 smart contracts onchain, with more than $32,900 of hedged transactions. The Bull beta release of BCH Bull is scheduled to launch sometime this month. Interested parties can access the General Protocols Telegram channel to get the latest updates.