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Your One-Stop Guide to Biswap
More and more projects are now being launched on the BNB chain due to its faster confirmation time and and what is even more important - cheaper transaction fees. And Biswap is not an exception to that.
Biswap is a decentralized exchange platform (DEX) that runs on the Binance Smart Chain network. Unlike centralized exchanges, DEXs let you swap BEP-20 tokens without the need to sign-up with your email, come up with a strong password and verify your account. No one takes custody of your funds, and you do not need to trust the exchange to the extent that you do with centralized offerings.
You’ve probably seen many food-themed projects in the DeFi space. But did you get a chance to check-out a robot-themed project? In this article we will take a closer look at Biswap - a DeFi protocol built on the Binance Smart Chain network that adopts an automated market maker (AMM) model to let users exchange tokens issued on the BNB chain.
You could think of an AMM as a robot that is always there to quote you a price between two assets. Apart from the possibility to trade trustlessly using an AMM, you can also become a liquidity provider to the platform’s liquidity pools. This allows every single user on the web to become a market maker on an exchange and earn crypto for providing liquidity.
What Is Biswap?
Biswap is the first decentralized exchange platform on the BNB chain with a unique three-type referral program and the lowest trade fee, accounting for only 0.1% per swap, its own NFT Marketplace and NFT game called Squid NFT World. It is a DEX for swapping BEP-20 tokens on the BNB chain - a network that guarantees superior speed and much lower network transaction costs. Biswap works as a decentralized (DEX) that utilizes an automated market maker model (AMM) and offers promising crypto rewards.
Biswap gives its users a chance to exchange tokens issued on the BNB chain with the lowest trade fee, earn referral rewards with a 3-type referral program, provide liquidity and earn passive income in return, stake tokens in Farms & Launchpools, buy NFTs on Biswap’s NFT Marketplace and stake them in the NFT Staking Pool.
Biswap’s User Interface
If you’re already familiar with other DEXs then you will not have any issues browsing through Biswap.
The core products of Biswap are:
Exchange with lowest trade fee (0.1%)
We will dive into all of those features later in this article.
What Is a BSW token?
BSW is a popular utility token with a huge user base that supports the Biswap ecosystem. Its current emission rate is 20 BSW per block. Apart from being able to trade BSW token, you can also make use of a wide variety of additional benefits that come along with it.
It is a major asset of Biswap and its powerful crypto energy! The main function of the token is to incentivize the liquidity provision to the Biswap platform. BSW token plays a huge role on the Biswap platform to saturate 5% in BSW Referral Rewards from friends’ yields, profitable BSW Farming, beneficial BSW earnings in Launchpools, transaction fee mining.
BSW token distribution
Connecting MetaMask to Biswap
You need to connect your MetaMask wallet to the Binance Smart Chain first before connecting your wallet to Biswap. In case you don’t know how to do that, we’ve got you covered. Check out our guide on how to connect MetaMask to Binance Smart Chain.
Once connected to the BNB chain, go to the Biswap homepage, click the “Connect Wallet” button. Make sure you switch from the Mainnet Ethereum network to Binance Smart Chain. After connecting your wallet to Biswap, you will be able to see and navigate across all the Biswap’s products (Swaps, Farms, Launchpools, NFT Staking, NFT Marketplace, Referral Program and Lottery).
Biswap Exchange utilizes an automated market maker (AMM) model to allow users trade tokens issued on BNB chain with the lowest trade fee, which accounts for only 0.1% per swap. Just like other platforms using an AMM model, there is no order book to match sellers and buyers. Instead, users trade against liquidity pools. The liquidity provided to the exchange comes from the users and supporters of Biswap or so called liquidity providers.
Biswap Exchange UI
You may be wondering what is the point of locking your funds inside the platform? In return for providing liquidity, users receive LP tokens. These LP tokens represent your share in the pool. In addition, these LP tokens let you earn trading fees.
For instance, if you added BNB and BSW to the pool, you’ll receive BNB-BSW LP tokens in return that will represent your share in the pool. With the use of these tokens, you can either reclaim your share in the pool, earn a portion of the trading fees or stake them in Farms.
Keep in mind that providing liquidity is subject to impermanent loss and it may carry certain risks. Make sure you are aware of all the pros and cons of providing liquidity before taking any actions. You can learn more about impermanent loss by clicking here.
Have you ever dreamed of making swaps at almost no cost? Unlike other exchange platforms, Biswap returns the transaction fees to its users in the form of its native token - BSW. In simple terms, when you make a swap on Biswap, and pay a trading fee of 0.1%, up to 90% of the trading fee will be immediately returned to your “Fee Return” balance in BSW tokens.
So let’s say you decided to exchange 1 BNB for BUSD and the fee return for that pair is 100%. During this exchange, a transaction fee of 0.1% (0.001 BNB) will be charged. Once the transaction is complete, the system will immediately return the fee you paid in the form of BSW tokens. The number of BSW tokens sent to your “Fee Return” balance will be equivalent to the percentage of fee return established for that pair.
Farming & Staking on Biswap
But wait, there are a lot of other beneficial features. Biswap allows you to farm its governance token - BSW.
Biswap’s Farms UI
Biswap Farms offer multiple farming opportunities to the users. You can deposit your LP tokens in Farms, locking them up in a way that rewards you with BSW. The list of LP tokens you can deposit is quite long but some of the most popular ones are:
BNB - BSW LP
BNB - BUSD LP
BNB - USDT LP
BUSD - USDT LP
ETH - BTCB LP
And that’s not all. You can get even more BSW by staking your BSW tokens in the Launchpool. The logic here is quite straightforward. Once you’ve deposited your funds to the liquidity pool, received LP tokens in return and used them to farm BSW, you can stake your BSW tokens and earn either more BSW or other tokens via special staking pools.
Biswap’s Launchpool UI
There are a lot more tokens you can earn by staking BSW. So, make sure you keep an eye on the Launchpool page.
Unique Referral Program
Biswap gives its users an opportunity to maximize users’ rewards. Every user of the platform can invite friends to register via a referral link and receive rewards from a 3-type referral program.
Biswap’s Refferal Program UI
Biswap referral program works in the following way:
Exchange. You can expect up to 20% referral reward every time your invited friend makes a swap. Referral rewards from exchanges will be credited to your balance immediately after a swap. Referral rewards from exchange transactions will be active for certain pairs.
Farms & Launchpools. You can expect a 5% return from your friends' earnings. Your referral rewards will be visible and ready for withdrawal from your referral accounts when your invited friends will withdraw BSW tokens to the wallet.
Let’s say, you invited a friend and he/she earned 5 BSW from either “Farms” or “Launchpools”. As a result, you will receive 5% from 5 BSW, which accounts for 0.25 BSW.
Once you access the homepage of Biswap, you will notice that many of the features are inaccessible until you connect your wallet to the platform. When you click on the “Connect Wallet” button you will be provided with a number of wallets that you can choose from.
If you decide to use MetaMask, we suggest you check out our Connecting MetaMask with Binance Smart Chain guide. After connecting your wallet to Biswap, the platform will unlock additional features for you.
If you’re already familiar with other DEXs, then you will not have any issues with adding liquidity to the pool. Head over to the exchange page and click on the “Liquidity” button. Once done, click Add Liquidity button, select the token pair and input the amount you want to deposit. Make sure you’re aware of impermanent loss before committing to any of the pools.
Adding liquidity to Biswap
Once you’ve added liquidity and got your LP tokens, now it’s time to stake them and earn BSW tokens. Navigate to the Farms page, and select the farming pair that matches your LP tokens. After selecting the right pair, click on the “Stake” button, select the amount you want to stake and approve the transaction on your wallet.
After completing all the steps above, you can navigate away from the page and come back at any time to check how much BSW you’ve earned. You can also harvest your BSW rewards at any point by simply clicking on Harvest and confirming the transaction on your wallet.
Once you’ve harvested your BSW tokens, you can stake them in the Launchpools. Head over to the Launchpools tab, and you will be presented with the pools where you can stake your BSW tokens.
Biswap Laucnhpools allow users to stake BSW tokens and earn tokens of other projects. Once again, you need to approve the withdrawal of your tokens before committing them to any of the pools. When that has been approved, you will need to select the amount of BSW tokens you want to stake, press “Confirm” and confirm the transaction on your wallet. Once staked, you will be earning the reward token of the pool passively. You can cash out your earnings and/or your staked tokens at any time.
Are you into NFT? Here comes another use-case for a BSW token. Biswap NFT Marketplace offers the lowest commission fee of 1% on the BNB chain! It brings new opportunities of NFT trade for users from all over the globe. NFT is not just digital art, it is the way to level up crypto assets, show talent, and explore DeFi.
Some of the major competitive advantages of the NFT Marketplace are:
Lowest commission fee of 1% on the BNB chain
Commission return in Robi Boosts
50% to buyer and 50% to seller in Robi Boost which can be used for powering your Robbies NFTs and earning more crypto.
Exclusive NFT Auction
Each participant earns 5% from the price difference gap of his and next bid.
Unique Biswap NFT Collection
You can stake purchased NFTs from Biswap NFT Collection in NFT Staking Pool on Biswap and get up to 700% APR.
NFT Marketplace is a significant part of the Biswap ecosystem and a place where you can buy/sell exclusive NFTs!
You can also buy the cutest robots on the web on Biswap’s NFT Launchpad. Limited Biswap Robbies Earn NFT Collection offers users to purchase Robbies NFTs with exclusive characteristics reflecting its bright vibe and level.
Each Robbies NFT has a specific amount of Robi Boosts that represent the power of a purchased NFT. The higher the amount of Robi Boosts your NFT possesses, the higher its price and the rewards it can earn in the NFT Staking Pool. If you want to boost your NFT, you can earn Robi Boost while making trading volume on Biswap.
NFT Staking Pool
Biswap has come up with another beneficial opportunity for its users to maximize their crypto rewards. Instead of just purchasing and reselling NFTs for higher price, users can stake Robbies NFTs via Biswap’s NFT Staking Pool. Once you’ve purchased Robbies NFT, you can head over to the NFT Staking page, and stake it. When staked, a user starts earning multiple tokens as a reward.
Your rewards in the NFT Staking Pool greatly depend on the amount of Robi Boosts your NFT has. The higher the amount of Robi Boosts your NFT has, the more rewards you can expect.
Squid NFT World
As you know, GameFi is among the hottest topics among the blockchain community now. If you’re still unfamiliar with NFT Games, Binance Academy has prepared a detailed guide on what NFT Games are and how they work. The Biswap team decided to expand the project’s ecosystem further via the popular GameFi direction due to a thorough analysis of this industry and the feedback received from the dynamic Biswap Community.
Squid NFT World is among the most popular Play-to-Earn projects on the BNB chain and provides Biswappers with new opportunities to earn crypto. This NFT game will lead Biswap to the Metaverse and open new horizons for the project’s spread.
As a result of the Squid NFT World release, users are offered a huge number of exclusive GameFi benefits and the Biswap platform will experience a spectacular evolution:
Amplification of Biswap DEX ecosystem
New Utilities for BSW Token
Innovational Opportunities to Earn crypto
Biswap Expansion on the BNB chain
Unique Opportunities for BSW Holders
Hundreds of Thousands of New Users
Squid NFT World is the first NFT game on the market with a multi-reward pool where users can get rewards not only in BSW tokens but also in tokens of other projects.
Biswap Squid NFT World brings overwhelming admiration and opportunity to gain huge crypto yields for each player! Let’s shed more light on the new world!
Progressive BSW tokens are required to begin your participation in the profitable Squid NFT World. If you don’t have esteemed BSW tokens — head to Biswap Exchange and get them with the lowest 0.1% Fee on the BNB chain: https://exchange.biswap.org/#/swap. Being a BSW holder will open all the possibilities for you in Squid NFT World. Also, to experience the gameplay to the fullest you will need to have a minimum amount of BSW staked in Biswap holder pool.
More information about Squid NFT World from Biswap can be found on Biswap’s Docs.
Customer Live Support
In case you have any questions, Biswap has got you covered. Biswap is the first DEX on the market to introduce live support on the website. Now there is not need to leave a website and search for help in Telegram chats or Discord channels. Simply click on the button on the right bottom corner of the website and one of the support agents from Biswap will take care of you. No need to worry about scammers anymore. Get help in a matter of minutes within the same website.
Is Biswap Safe?
Biswap has been audited by CertiK.
Does that mean it’s completely safe to use? No. Depositing funds into a smart contract always carries the risk of bugs, even for audited and highly reputable projects. Never deposit more than you can afford to lose.
Biswap is currently one of the most innovative and popular projects on BNB chain. The platform offers various innovative features that allows every user to multiply the crypto holdings. You can also track a lot of its metrics on: https://biswap.org/analytics.