One of the most innovative DeFi products is the Biswap multi-reward pool which gives you 4 different tokens.
In, this post, I will share with you everything you need to know about the Biswap multi-reward pool and how to use it to grow your portfolio.
What is Biswap?
Biswap is the second-largest decentralised exchange on the BNB Smart Chain (BSC) launched in May 2021.
The exchange allows you to trade BEP-20 tokens and NFTs, provide liquidity to earn yields, farm several lucrative pools, and much more.
Biswap is best known for having the lowest trading fees, its multi-type referral program, and several unique and lucrative investment opportunities.
It was founded by an anonymous team who have so far, proven to be very competent, innovative and committed to the success of the project.
Their skills and experience are evident in the quality of the platform and the many unique features that are constantly being launched.
Furthermore, in October 2021, Binance Labs announced their strategic investment in Biswap which further adds to the project’s appeal.
The exchange is powered by its native token, BSW, which has a maximum supply of 700,000,000 of which over 356,000,000 (>50%) are currently in circulation.
To learn more about Biswap, check out my in-depth review of the platform.
So, with that out of the way, let’s talk about Biswap’s latest and most unique feature in all of DeFi.
The Biswap multi-reward pool
The Biswap multi-reward pool is a new product that rewards you with multiple premium tokens for staking and trading on the platform.
Currently, you can earn 4 different top-rated tokens (BSW, BUS, WBNB, BFG) from staking in the pool, and more could be added in the future.
This is the latest from the Biswap team and one of the most unique features in all of DeFi.
I don’t know of any other staking pool that rewards you with so many premium tokens from a single farming pool.
How does the Biswap multi-reward pool work?
The Biswap multi-reward pool is designed to reward BSW holders and active traders on the platform.
Here’s how it works in summary:
- Stake BSW in the multi-reward pool.
- Activate your staked BSW by generating the required trading volume on the platform.
- Claim your rewards daily or let them accumulate.
1. Stake BSW in the multi-reward pool
First, you need to stake BSW in the multi-reward pool to be able to take advantage of this unique farming opportunity.
So, go to the Biswap multi-reward pool page and click the + button to stake BSW in the pool.
Once successfully staked, you can then proceed to trade up to the required volume to activate all your staked BSW.
2. Generate required trading volume
For every 1 BSW you stake, you need to generate a $20 trading volume to activate it and start earning based on the pool’s prevailing APR for the next 30 days.
That means if you stake 1000 BSW you need to generate at least $20,000 worth of trading volume to earn rewards on all 1000 tokens.
However, if you did not generate up to the required volume, you will only earn a reward on the amount of BSW your volume qualifies for.
For example, if you stake 1,000 BSW but only generated a trading volume of $10,000 during the 30-day period, you’ll earn rewards on the 500 BSW that your volume could activate instead of the whole amount.
For every 1 BSW activated, you’ll earn rewards on it every day for the next 30 days.
Afterwards, it resets and you have to continue trading to activate for the next 30-day cycle.
You’ll always see the amount of BSW your volume has activated so far so that you can plan and trade accordingly and earn as much as you can from the pool.
3. Claim your rewards
Your rewards on the activated BSW will accrue every 24 hours at 12:00 pm UTC, and you’ll be able to see and harvest them whenever you want.
However, note that you’ll be charged a 0.0015 (about $0.4) WBNB commission, automatically deducted from your rewards, each time you harvest from the pool.
Therefore, it may be wise to wait and accumulate a reasonable amount before every harvest to minimise the potential impact of the commission.
Benefits of the multi-reward pool
The Biswap multi-reward pool is both highly beneficial to the project and all BSW holders and traders on the platform.
Below is a highlight of the various benefits the multi-reward pool brings to all stakeholders.
- With more traders buying and locking up BSW in the multi-reward pool, there’ll be less BSW in circulation and this is good for the price of the token.
- As an investor, you’re getting multiple premium tokens from a single pool, which enriches your portfolio richer.
- The most interesting part is that you can influence the amount you earn from the pool by trading more or staking more BSW. The more you stake and trade, the more you earn.
- Liquidity providers in the eligible trading pair pools will see increased profit from the increase in trading volume caused by the multi-reward pool. So, you can provide liquidity to these pools to reap more rewards.
- The TVL, liquidity, volume, and revenue of the DEX will continue to grow as more users participate in the multi-reward pool.
- Furthermore, the number of BSW holders will rise as more people buy the token to participate in the pool.
Is the Biswap multi-reward pool for me?
If you’re a BSW holder and active trader on Biswap, there’s no reason to not take advantage of the multi-reward pool.
Here’s why it makes sense for you to participate in the Biswap multi-reward pool. You’re getting:
- The lowest trading fee of 0.2%.
- Up to 50% trading fee reimbursement paid in BSW.
- Currently, 0ver a 500% APR reward on activated BSW, paid in 4 different premium tokens.
- Profit from your trades (hopefully you’re making a profit).
Terms and conditions of the Biswap multi-reward pool
To maximise your rewards and ensure you’re playing by the rules, you need to know the terms and conditions applying to the Biswap multi-reward pool.
They’re as below:
- For every 1 BSW staked in the pool, you have to activate it with a $20 trading volume.
- Your volume resets after 30 days, and you have to continue trading to keep earning. Every trade volume generated will have its own 30-day countdown, after which it expires and stop earning.
- Only the trading volume generated on these eligible pairs is counted towards the reward.
- The maximum amount of BSW you can stake is 100,000, and the minimum is 0.01.
- You can always increase your stake amount anytime, but this will reset the 60-day lock term.
- You’ll be charged a 10% withdrawal fee if you decide to withdraw your tokens within the first 60 days of your staking. Withdrawal after 60 days is free.
You can learn even more about the Biswap multi-reward pool here.
Connect with Biswap
Join Biswap Social Media and Local Communities and be the first to know of the latest developments.
Also, if you’re as passionate about the project as I am, you can join the Biswap Space Agents Program (SAP) and win up to $2,500 in BSW every month.
The Biswap multi-reward pool is a unique staking pool that rewards you with multiple tokens for staking BSW and staking selected pairs on the platform.
It currently pays out in 4 different premium tokens at over 500% APR. This pool is not like any other in all of DeFi.
However, the reward from this pool is not passive like the others on the platform as it requires you to both stake BSW and trades up on the platform in order to earn.
With the multi-reward pool, Biswap is literally paying you to trade on the platform, especially when combined with their 50% trading fee reimbursement.
What do you think about the Biswap multi-reward pool? Share with us in the comments section below.