Biswap's Journey of Trust That Started with Binance Labs
“It’s their passion, their level of professionalism, and the way they do business with projects that differentiate Binance Labs from other partners,” said Robi, head of support and spokesperson at Biswap.
Founded on May 24, 2021, Biswap is the first decentralized exchange (DEX) with the lowest trade fee and a multi-type referral program on the BNB Chain. It uses an automated market maker (AMM) model to fulfill orders and offers low trading fees as well as a multi-type referral system. In 2021, Biswap was one of the 20 winners of the Most Valuable Builder (MVB) II program.
Prior to the partnership with Binance Labs, Biswap had already gained user traction and built a novel referral program. However, it was not always easy to build trust in the young and maturing crypto industry. The partnership with Binance Labs, the venture capital (VC) arm of the largest exchange by trading volume, brought Biswap a seal of approval amongst the crypto community.
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“Immediately after the announcement with Binance Labs, we saw a huge inflow of users and our daily active traders increased by two to three times,” Robi added. “Our trading volume also grew by four to five times. It means a lot to crypto users when Binance Labs invests in a company.”
Binance Labs also introduced multiple BNB Chain projects to Biswap. With the new-found trust and respect, Biswap gained faster access to a broader range of Web3 projects on the BNB Chain and accelerated its business development.
“The day CZ signed the agreement was the one moment our team remembered the most,” Robi added. “Binance Labs connected us to the whole ecosystem of projects. It was also a seamless way of getting linked to various projects on the BNB Chain and growing your project.”
For budding Web3 projects looking to work with Binance Labs, Robi recommended three things to consider:
Build quality, innovative and secure projects that benefit users
Bring valuable developments to the larger Web3 ecosystem
Be transparent and respectful towards investors and the crypto community
Interested in Growing Your Web3 Project?
Binance Labs has invested in over 200 projects from more than 25 countries since its inception in 2018. Web3 project founders interested in connecting with Binance Labs can follow the team on Twitter to keep tabs on upcoming programs and events.