Biswap (BSW) operates as a decentralized exchange (DEX) for BEP-20 tokens on the Binance Smart Chain (BSC). It promises to offer the lowest transaction fees among BSC exchanges, setting it at just 0.1%. The goal is to foster innovation in DeFi with exceptional products and services. A unique referral system enables users to invite others and earn referral fees from activities such as farming, launch pools, swaps, and a lottery.
The main offerings of Biswap include standard DEX functionalities like an Automated Market Maker (AMM), liquidity pools, yield farming, an NFT marketplace, and an IDO launchpad. Looking ahead, Biswap's roadmap aims for:
* Listings on major cryptocurrency exchanges
* Enhancements to its NFT marketplace
* Support for cross-chain transactions
* Introduction of limit orders
* Lending and borrowing features
* Development of a personalized user dashboard
* A referral program for swaps
Additionally, Biswap has introduced a $10 million global incentive plan to work with other BSC projects. Partners can benefit from a 90% fee reimbursement, farming pairs with BSW, launch pool opportunities, marketing support, and grants for security audits and project development.
Who Are the Creators Behind Biswap?
Established in 2021, Biswap has a team of 27 members listed on its website. These members remain pseudonymous and are depicted as comic avatars. The CEO, known as "EK," is described as a crypto expert with seven years of industry experience. Most team members highlight several years of professional experience, though specifics are not provided. The exchange does not disclose any potential investors.
What Distinguishes Biswap From Others?
Biswap seeks to differentiate itself primarily through its lower transaction fees compared to other DEXes. For instance, it charges only a 0.1% fee, whereas Pancakeswap has a 0.25% fee and Mdex and Apeswap charge 0.3%. Of this, 0.05% is given back to liquidity providers as rewards, and the other 0.05% is allocated for burning BSW tokens. The exchange reserves the right to increase this fee in the future, potentially adding a portion for the team, but it assures to keep its fees below the industry standard.
Users can participate in transaction fee mining, enabling them to receive up to 90% of the 0.1% swap fee, contingent on the trading pair. They also have the opportunity to provide liquidity to pools and earn BSW through farming rewards. Another notable aspect of Biswap is its NFT marketplace, where users can buy NFTs using BNB, USDT, BUSD, and WBNB. The Biswap lottery offers participants the chance to win substantial BSW prizes, with users able to purchase an unlimited number of tickets, with 80% of ticket sales going back into the prize pool.
Biswap also features its own NFTs, called NFT Earn, which encompasses an NFT Launchpad, an NFT Staking Pool, an NFT Boost, and an NFT Level Upgrade system. Users can acquire "Robi NFTs" and stake or enhance them to earn profits.
Finally, Biswap provides an IDO Launchpad that enables other blockchain projects to initiate their token launches on its platform. The exchange claims to have over 300,000 active users and encourages new projects to join through its $10 million incentive program.
How Many Biswap (BSW) Tokens Are Available?
BSW serves as the governance token for the exchange, with a total supply capped at 700 million. Here's the distribution of 600 million BSW:
The remaining 100 million BSW is divided with 70% allocated to NFT (Earn), GameFi (Play to Earn), and Strategic Partnerships, and 30% set for Transaction Fee Mining. There are also several deflationary measures in place, such as burning 50% of transaction fees, 13% of lottery ticket revenue, 10% of sales revenue, and 10% of new NFT mints.
How Is Biswap's Network Kept Secure?
BSW is a BEP-20 token running on the Binance Smart Chain (BSC).
The security of BSC is maintained through a proof-of-stake (PoS) consensus mechanism. Every 24 hours, 21 validators are chosen to verify transactions and ensure the blockchain's security. These validators must stake a specified amount of Binance Coin (BNB) to qualify.
Biswap also operates a bug bounty program, offering rewards between $10 and $100,000 for identifying and reporting bugs, depending on the severity of the security issue.
Where Can You Purchase Biswap (BSW)?
BSW is accessible on platforms like LBank, Pancakeswap (V2), Bitget, BTCEX, MEXC, XT.COM, and CoinW.
If you're interested in getting started with buying cryptocurrencies, you can explore our guide for more information.
