Biswap (BSW): Token and DeFi Platform Characteristics

Biswap is a decentralized platform that offers a wide range of financial services, such as trading, farming, the IDO platform, NFT, and blockchain games. Lotteries and different contests are also available. The protocol works on the Binance Smart Chain network and mostly with BEP-20 standard tokens.

The Biswap ecosystem is made up of BSW, which is a utility token. It can be used to trade, but also gives its owners a number of other benefits (such as discounts on trading fees).

Overview of the Biswap Platform

The Biswap decentralized exchange is based on an automated market maker system that lets users trade BEP-20 tokens with each other (on the Binance Smart Chain blockchain). The main idea is liquidity pools, where users (called “liquidity providers”) put money in and get interest income for delivering the money.

The trading fee is 0.1%. Here’s how it’s broken down:

• 0.05% – liquidity providers.
• To stop their inflation, 0.05% is burned in the form of BSW tokens.

The developers don’t rule out the possibility that commissions will need to go up in the future to pay the project team. But even after the promised increase, it will still be lower than the average of their competitors.

Liquidity supplies

When a participant on Biswap adds liquidity to the pool, they get LP tokens. When a participant trades in a pool where they have deposited assets, liquidity providers get 0.05% of the amount of the trade. How much each provider gets is based on how many LP tokens he has.

It’s important to know that the supply of liquidity is a source of income that comes with some risks. Specifically, there is a risk of “non-permanent losses” when the rate of assets put into the liquidity pool changes.

Farming

On Biswap, you can stake LP tokens and get interest payments in the form of BSW tokens. Developers sometimes add higher percentages to this or that pool to make it grow.

On the page, you can see all of the liquidity pools that are available, how many assets are blocked in them, the annual interest rate, and how much you have made.

Deposits

The Launchpools section of Biswap is where deposits are made. In essence, they are like staking. The user blocks the currency so that they can make money without doing anything. You can put BSW and a few other tokens on the line. The rate of interest on each asset is different.

Squid World NFT

In the GameFi section of Biswap, there is a P2E (Play-to-Earn) game called Squid NFT World that runs on a decentralized blockchain. The game is run by BSC, and all of the players and other useful things in it are NFTs. The theme of the game is “Game of Squid.”

Lotteries

You can win a lot of BSW tokens through the Biswap lottery system. If you buy a ticket, you have a chance to win. The price of one ticket in BSW is about $1. No more than 500 tickets can be bought at once. Six numbers are randomly put together on each ticket. If the numbers on the ticket match in the right order, it is a winner.

BSW Token

The BSW project’s native tokens can be used in a lot of different ways. For example, they can be used to make deposits and earn interest, make money on liquidity supplies, farm, play games, save money on commissions, or buy lottery tickets. In BSW, you can also get paid for referring people.

To Sum Up

Even though Biswap is a new project, it seems like it could be a strong competitor for other players in the Binance Smart Chain ecosystem.

The BSW token has a lot of useful uses and a well-thought-out structure for deflation. The number of people using the project is actively growing, and new features and ways to make money are being added.

So, it seems reasonable to think that the BSW rate will go up in the future. This is also made easier by the fact that the BSC ecosystem is always getting better, which makes traders, investors, and gamers pay more attention to the projects that run in it.