What Is Biswap (BSW)?
Biswap (BSW) is a decentralized exchange (DEX) for BEP-20 tokens on Binance Smart Chain (BSC). Biswap promises the lowest transaction fees of any BSC exchange at 0.1% and vows to be committed to innovation in DeFi through its high-quality products and services. Its referral system allows users to invite others and receive referral fees from farms, launch pools, swaps, and a lottery.
Biswap’s core products include the standard DEX functions like an AMM, liquidity pools, yield farming, an NFT marketplace, and an IDO launchpad. In its roadmap, Biswap targets the following:
- Listing on major crypto exchanges
- Improvements of its NFT marketplace
- Cross-chain support
- Limit orders
- Lending & Borrowing
- A personal user dashboard
- A swap referral program
Furthermore, Biswap announced a $10 million global incentive program to collaborate with other BSC projects. Partners can expect a 90% fee reimbursement, farming pairs with BSW, a launch pool, marketing promotion, and grants for security audits and project development.
Who Are the Founders of Biswap?
Biswap was launched in 2021 and lists a total of 27 team members on its website. The entire team is pseudonymous and are presented on the site only as comic avatars. The CEO is “EK,” a reported crypto veteran with seven years of experience in the space. Almost every member of the Biswap team lists several years of experience in their respective field, although no details are provided. Biswap does not specify any investors it may have.
What Makes Biswap Unique?
First and foremost, Biswap tries to stand out with its lower transaction fees vis-a-vis other decentralized exchanges. For example, Biswap claims that it levies only a 0.1% fee compared to 0.25% on Pancakeswap, 0.3% on Mdex, Apeswap, and other BSC DEXes. 0.05% is returned to liquidity providers as a reward, and 0.05% is used for BSW token burning. Biswap reserves the right to increase this fee in the future and add an allocation to the team. However, it promises to keep the fee lower than the industry average.
Users can engage in transaction fee mining, meaning they can receive up to 90% of the swap fee of 0.1%, depending on the trading pair. In addition, they can provide liquidity to pools and earn BSW farming rewards. Another important feature of Biswap is its NFT marketplace that allows users to purchase NFTs using four cryptocurrencies: BNB, USDT, BUSD, and WBNB. The Biswap lottery is a lottery where users can win “substantial BSW prizes” for participating. Each user can purchase an unlimited number of tickets, with 80% being redistributed to the prize pool.
Biswap also has its own NFTs called NFT Earn, consisting of an NFT Launchpad, an NFT Staking Pool, an NFT Boost, and an NFT Level Upgrade. Users can buy so-called “Robi NFTs” and stake or boost them to make a profit.
Finally, Biswap provides an IDO Launchpad that allows other blockchain projects to launch their token through Biswap. The DEX claims it has more than 300,000 active DEX users and incentivizes new projects to participate with its $10 million incentive program.
Related Pages:
Check out Dodo (DODO) — a BSC decentralized exchange.
Check out Uniswap – an Ethereum decentralized exchange.
Learn more about DEXs here.
Get the latest crypto news and latest trading insights with the CoinMarketCap blog.
How Many Biswap (BSW) Coins Are There in Circulation?
BSW is the exchange’s governance token with a total supply of 700 million. 600 million BSW are distributed as follows:
- Farms / Launchpools: 80.7%
- Referral Program: 4.3%
- SAFU (an emergency insurance fund for all users): 1%
- Team: 9%
- Investment Fund: 5%
The remaining 100 million BSW are split 70/30 between NFT (Earn), GameFi (Play to Earn), Strategic Partnerships (70%) and Transaction Fee Mining (30%). Furthermore, Biswap implements several deflationary mechanisms like burning 50% of transaction fees, 13% of lottery tickets, 10% of its sales revenue, and 10% of new NFT mints.
How Is the Biswap Network Secured?
BSW is a BEP-20 token on Binance Smart Chain (BSC).
BSC is secured using a proof-of-stake (PoS) consensus mechanism. 21 validators are elected every 24 hours to validate transactions and maintain the blockchain’s security. These validators have to stake a certain amount of Binance Coin (BNB) with Binance to be eligible.
Biswap also has a bug bounty program. You can earn between $10 and $100,000 for reporting bugs, depending on the security issue.
Where Can You Buy Biswap (BSW)?
BSW is available on LBank, Pancakeswap (V2), Bitget, BTCEX, MEXC, XT.COM, and CoinW.
If you want to learn more about how to start buying cryptocurrencies, you can read more in our guide.