Biswap Review: Should you trade and invest on this BSC DEX?

Biswap is popular for having the lowest exchange fees, assorted farms, a unique referral system, and transaction fee rebates.

According to data from DeFiLlama, Biswap is the second-largest DEX on BSC based on total value locked (TVL), just behind PancakeSwap.

In this post, I will be sharing with you everything you need to know about Biswap and how to make the most of the platform to grow your crypto portfolio.

But first, let’s take a quick look at the pros and cons of the exchange.

Biswap review: Pros and Cons

Pros

• Has the lowest exchange fees among all DEXs (charges a 0.2% trading fee).
• Offers multiple referral programs that allow you to earn from your referrals swap fees, farm rewards, launchpool rewards, lottery volume, etc.
• Maintains a Secure Asset Fund for Users (SAFU), which is a kind of insurance fund to protect its users against any potential loss resulting from hacks, exploits, etc.
• Operates with a community-oriented approach. Strives to carry users and community members along, every step of the way.
• Transparent fee structure. There’re no hidden charges.
• Transaction fee rebates. Biswap gives back up to 70% of all your trading fees in BSW.
• Provides you with assorted farms and pools with lucrative APRs or APYs where you can grow your portfolio passively.
• Audited by Certik (Biswap audit report).
• Unique design, intuitive user interface, and beginner-friendly.
• Highly competent and committed team.
• A winner of the Binance top 10 Most Valuable Builder II (MVBII) program.
• Supported by Binance Labs through strategic investment and listed on Binance.

Cons

• Relatively new and hasn’t stood the test of time yet.
• The team is anonymous and can disappear anytime if they want to. Though, that’s highly unlikely.

What is Biswap?

Biswap is a decentralized exchange for trading BEP20 tokens, liquidity mining, and yield farming on BSC.

The exchange was launched on May 25, 2021, by an anonymous team of developers and is poised to displace PancakeSwap as the top DEX on BSC.

Biswap review: core products and features

Over the past year, Biswap has not only grown exponentially in the number of users, TVL, and volume, the team has developed and launched several new features and products that enhance user experience and profitability.

Below are the current core products and features of the Biswap exchange:

1. Token swap
2. Liquidity mining
3. Yield farming
4. Launchpools
5. Fixed staking
6. Initial DEX Offering (IDO)
7. GameFi (NFT game)
8. NFT Launchpad
9. NFT Earn
10. Referral program
11. Lottery
12. Competitions
13. Transaction mining
14. NFT marketplace

Let’s take a close look at each of these core products and the features of Biswap below.

1. Token Swap

Biswap allows you to swap a wide range of BEP-20 tokens for another.

To swap tokens, go to the Biswap website, connect your wallet, and click on Exchange from the menu on the left-hand side of the page, as shown below.

Select your trading pair, enter the amount of the token you want to swap, and click the Swap button to proceed with the swap.

You would be prompted to sign and confirm the transaction with your wallet. Once done, your token would be exchanged instantly and you can see it in your wallet.

As you can see from the above screenshot, you can get up to 70% of the exchange fees back in BSW tokens.

2. Liquidity mining

You can add liquidity to any of the pools on Biswap and earn a share of all trading fees generated from that pool.

To add liquidity to any of the pools on Biswap, go to the Biswap website and click on Liquidity.

Click on Add Liquidity, select the pool or token pair you wish to add liquidity to and click supply.

Once you’ve provided liquidity successfully, you would be issued a liquidity provider (LP) token which you can stake on appropriate Biswap farms to earn BSW in addition to the trading fees from the liquidity pool.

3. Yield farming

Biswap farms offer you an opportunity to earn double rewards on your investment by staking your LP tokens to earn BSW.

You can stake your LP tokens in any of the Biswap Farms to earn additional BSW with lucrative APYs.

As of today, May 20, 2022, there are over 70 active farms on Biswap where you can stake your LP tokens and earn BSW.

4. Launchpools

The Biswap Launchpool has 2 single staking pools. The first is a Stake BSW to earn more BSW or other tokens.

And the second allows you to stake other tokens to earn BSW or the same token.

Currently, there’re 7 active pools where you can stake BSW to earn BSW or other tokens.

But the second pool where you can stake other tokens to earn BSW or other tokens has no active pool.

The BSW pools

Under the stake BSW to earn BSW option, there are 3 active pools.

Two of them have the same APY with auto-compounding and the other is without auto-compounding.

• The holder pool

In addition to earning BSW, this pool also to gives you the privilege to participate in exclusive Biswap offers such as:

• IDO and NFT Launchpads
• Multi-crypto offering
• NFT Game
• Multi-reward pool
• Earn higher swap referral rewards (12%-20%).

…and other features that would be added in the future.

When you stake in this pool for the first time or add more BSW, your tokens would be locked for 90 days during which period you may not withdraw.

However, if you want to withdraw before the 90 days are over, you will be charged a 25% unstaking fee. So before you put your BSW into the pool, make sure you wouldn’t need it within the first 3 months.

Furthermore, any BSW tokens you stake in this pool will be automatically harvested and compounded for you every 5 minutes.

• The auto-compounding pool

This launchpool allows you to stake your BSW tokens to earn more BSW with auto-compounding and has the same APY as the holder pool discussed above.

There’re no special privileges with this pool and you can withdraw your token anytime you want.

However, you will be charged a 0.1% unstaking fee if you withdraw within the first 72 hours.

• The non-compounding pool

The third pool allows you to stake BSW to earn more BSW with no compounding.

There’re no special privileges or lockup periods for this pool. So you can stake and unstake your tokens anytime you like.

5. Fixed staking

Fixed staking is a relatively new feature of Biswap that allows you to stake some premium coins like BNB, ADA, and DOT for fixed periods (30 to 90 days) to earn the same coins with high APYs.

To be able to participate in Biswap fixed staking, you must have staked some BSW in the Holder Pool first.

Then go to the fixed staking page and deposit the correct tokens into the available pools to start earning.

Biswap is the first DEX to implement this exclusive farming feature on the BSC.

6. Initial DEX Offering (IDO)

The Biswap IDO is a place for new projects to raise money for development and you can buy new tokens just before they launch using BSW.

You can only participate in IDO on BenSwap if you have staked some BSW in the Holder Pool.

There are usually two IDO pools you can participate in, each with different minimum and maximum BSW deposit requirements, total BSW staked in the holder pool requirements, and presale token allocations.

The amount of BSW you staked in the holder pool and the maximum BSW you’re willing to contribute to the IDO will determine which of the pools you participate in.

The pools are unique to each IDO project, so you can only know the requirements after the IDO details are announced.

7. GameFi (NFT game)

The Biswap NFT game is another feature that aims to bring excitement and extra earning opportunity to Biswap users and BSW holders.

If you’re a game lover, you’ll find this to be a lot of fun, plus the winning chances are very high, from 93% to 99%.

Before you can play the games, you must have staked some BSW in the holder pool and purchased some NFT Buses, and NFT Players.

Click here to learn more about the Biswap NFT game.

8. NFT Launchpad

Similar to the Biswap IDO which hosts new token sales, the NFT launchpad is a place for new NFT projects to sell their collections and raise money for further development.

To be able to participate in the Biswap NFT launchpads, you must have staked a minimum of 100 BSW holder pool, and prepare some BSW to use and buy the NFTs in the presale.

9. NFT Earn

The Biswap NFT Earn offers you a unique opportunity to stake your Biswap NFTs and earn BSW, BNB, or USDT with APY currently over  300%.

You can even increase your NFT earning capability by boosting or upgrading them to higher levels.

10. Referral program

Biswap is the first DEX on BSC with a multi-type referral program where you can refer your friends and earn:

• up to 20% of their trading fees,
• 5% of their Farms and Launchpools rewards,
• 3% of their NFT Game winnings,
• 2% of their lottery ticket purchases.

These rewards are all paid out of the 4.3% of the daily BSW block emissions allocated for the referral program.

You can choose to share 10%, 25%, or 50% of your referral commission with your referral invitees.

PS: Use this referral link and get 50% of my referral rewards.

11. Lottery

If you like gambling, you can participate in the Biswap lottery program where you can buy tickets with BSW and play to win a share of the prize pool.

If the digits on your tickets match the winning numbers in the correct order, you win a portion of the prize pool.

12. Competitions

Biswap organises trading and other competitions to reward its active users and engage the community.

13. Transaction mining

Biswap returns up to 70% of your trading fees back to you in BSW tokens.

This exchange fee rebate program is referred to as transaction mining because you’re literally mining BSW by trading on Biswap.

Essentially, transaction fees on Biswap are not even up to the already low 0.2% advertised.

And if the price of the token should increase, your BSW earnings from the fee could be worth a lot more than you paid in trading fees.

14. NFT marketplace

The Biswap NFT Marketplace is a place where you can buy and sell NFTs on BSC using BSW, WBNB, USDT, and BUSD.

The commission fee on the Biswap Marketplace is 1%, which is among the lowest in the industry.

Biswap Token (BSW)

BSW is the utility token that powers the entire Biswap ecosystem. The token is primarily used to incentivize liquidity providers and active users of the platform.

BSW tokenomics

BSW has a maximum supply of 700,000,000 of which 10, 000,000 BSW was allocated for initial liquidity, marketing and strategic partnerships.

The remaining 600,000,000 will be released gradually through the block emission program and distributed as follows:

• Farms and Launchpools: 80.7%  of the block reward
• Referral Program: 4.3% of the block reward
• Insurance Fund (SAFU): 1% of the block reward
• Team: 9% of the block reward
• Investment Fund: 5% of the block reward
• Transaction mining: 100 million BSW.

Originally, BSW emission is supposed to reduce by 2 tokens every week until it reaches and stabilises at 12 BSW per block in December 2023.

However, this emission reduction rate can be increased or decreased through community voting at any time.

Furthermore, BSW is a deflationary token as a portion of the token is burned, usually every month using:

BSW use cases

BSW can be used for the following purposes on Biswap:

• Reward liquidity providers
• Pay referrers promoting the platform
• Vote or submit proposals
• Reward users of the Exchange through transaction mining
• Purchase lottery tickets
• Buy NFTs in the Biswap NFT Marketplace

Frequently asked questions (FAQs) about Biswap

Below are the questions users like you ask the most about Biswap.

1. Is Biswap safe?

Biswap has been audited by Certtik, and the team maintains an insurance fund that is intended to compensate users in the event of any losses arising from a hack or exploit of the exchange.

Effective from May 2021, 1% of the BSW block reward will be deposited into the insurance fund.

Furthermore, BiSwap was one of the top 10 Binance Most Valuable Builder II (MVBII) announced on July 29, 2021. Among other things, the program takes into consideration the security of the platform.

As a result, one can say with some level of confidence that Biswap is safe until a contrary future event proves otherwise.

My only concern is that the team has not publicly disclosed the insurance fund wallet, as such one can’t verify the truth of its existence.

2. Is Biswap token (BSW) a good investment?

The Biswwap token is a good investment for me because:

• Supply is reduced through token burns
• Demand is increasing through a growing userbase and use cases
• Inflation is reduced through block reward emission reductions
• The project keeps developing and adding new products and features
• The exchange is going multi-chain

All these are the perfect requirement for a project to be successful, especially in the long term.

Of course, that is assuming that the team does not rug all of us and the crypto economy does not collapse.

I have invested a convenient amount in BSW and continue to accumulate as I believe it is a good investment.

Furthermore, I use the platform for swapping tokens on BSC a lot and it’s always a good practice to invest in projects that you use.

All of my BSW tokens are staked in the holder pool. This gives me the privilege of participating in the exclusive offers and features discussed previously.

3. Where can I buy BSW?

The two best places to buy BSW are on the Biswap DEX and Binance Exchange.

You can find more trading venues for the token on the project’s CoinGecko or CoinMarketCap (CMC) pages.

Conclusion

Biswap is one of my favourite projects on BSC and BSW is a major token on my accumulation list.

Within just one year, the exchange has grown to become the second largest DEX on BSC based on TVL.

This phenomenal growth is attributed to its unmatched low swap fees, assorted farms, unique referral system, transaction mining program, and other cool features that keep attracting users.

I’m clearly optimistic about Biswap because it has almost everything I look out for in a project, which includes:

• A competent team that’s committed to the long-term sustainability and success of the project.
• Good tokenomics. The combination of a limited token supply with a regular burning program is a perfect recipe for future price appreciation.
• An active and growing user base. More users mean more revenue for the platform and increasing demand for the token. It also leads to bigger burns and faster deflation among other things, which are all good for the price of the token.
• A working product and innovative new features that enhance the functionality of the platform.
• Lucrative staking and farming opportunities continue to attract new users and capital to the platform.

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