Biswap DEX Progress & Beneficial Offers

Biswap DEX progress
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Yield farming

Low fees, multiple reward systems and attractive yield farming

With almost 29,000 wallets connecting to the platform, Biswap is among the leading DeFi dapps in the BNB Chain ecosystem. More importantly, it’s the only DeFi platform on BNB Chain that has seen growth in the past 30 days. 

Over the past month Biswap attracted a total of 28,570 Unique Active Wallets to its DeFi platform, growing its audience 2.5% over the same period. Where other competitors such as 1inch, PancakeSwap and BitKeep have seen their user base decrease at least 20%, Biswap managed to attract new users.

With $214 million locked in its platform, Biswap has enough liquidity to solidify a strong position within the DeFi ecosystem on BNB Chain. The platform also stands out thanks to its focus on user satisfaction. With a 0.1% trading fee on stable pairs and 0.2% on other coins, Biswap has a super competitive trading platform, while 75% of the fees are liquidity provider rewards.

Feeling safe when trading on Biswap 

DappRadar has been tracking Biswap since 2 June 2021, and we now track 70 smart contracts for the DeFi platform. This type of history comes with a reputation. In addition, Biswap has been audited by Certik, an organization known for its smart contract audits. In addition, they are a strategic partner of Binance, one of the leading organizations in Web3. 

Of course we understand that security is an important topic in the crypto space. Therefore, we always advise to use multiple wallets, each for a different purpose. Don’t connect your wallet to every dapp, and never approve transactions from dapps you’re not familiar with. 

Overall, user experience plays a big role on Biswap. New features such as a crypto-to-fiat exchange and an Expert Mode, add new options to an already rich platform. 

Yield farming on Biswap

Common in the DeFi space is to offer high Annual Percentage Yield (APY) over staked assets, and Biswap is very competitive in that area as well. Users can earn the native BSW token from farming various liquidity pools. For example, the WBNB-BUSD pool comes with a generous 15.05% APY. 

To earn such rewards, users need to provide liquidity on Biswap. Simply add two amounts of tokens of equal value, and put them in a pool. For example, add $100 of WBNB and $100 of BUSD, and you will then put $200 in the WBNB-BUSD pool. With an APY of 15% you would receive $30 in rewards over the course of one year. These rewards will be paid in the native BSW token, which has its own value. The value of the rewards can fluctuate as the prices of cryptocurrencies can fluctuate. 

In addition, Biswap has a Multi-type Referral Program where users can earn by inviting friends via the referral link. Users can earn up to 20% from their friend’s swaps, and another 5% from friends who are active in Farms and Launchpools.

Updated Biswap roadmap

Those who think that DeFi platforms come without any innovation, need to keep reading. As centralized exchanges keep fumbling, Biswap has taken the initiative to develop a perpetual trading platform, allowing users to trade decentralized futures. They will work with ApolloX to introduce this feature. 

What’s also coming in the first three months of 2023, is one or more mechanisms to lock and burn the native BSW token. These initiatives will be proposed to the community through DAO voting, meaning that those holding BSW tokens have a say in the future of the token. 

At the start of the summer 2023, the team wants to introduce a new Automated Market Marker protocol. This new AMM will allow liquidity providers and users to better optimize their positions and trades, making the swapping service more efficient with lower slippage. Liquidity providers will earn more, traders will pay less. Everybody wins.

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