How Does Biswap Work?

Biswap is a fairly unique decentralized exchange in that it actually pays users for every trade executed on the platform. There are numerous incentives available to users, most of which come from the referral program. The rewards are paid out in BSW, which is the native token of the Biswap DEX. If you need to exchange or trade BSC-based tokens, Biswap is a really great option in my opinion.

Not only are you able to secure BSW tokens at zero cost, but you are also able to earn commissions by taking advantage of the referral program and all that it has to offer. The exchange fee is only 0.1%, which is extremely low and highly competitive! For someone often needing to swap tokens, Biswap is the perfect choice.

Any opportunity within the crypto space that gifts you with free crypto in exchange for activities that you are already doing is generally worth exploring. Let’s explore how widely Biswap is used in the crypto community, especially since PancakeSwap has been the predominant DEX with little competition.

Key Biswap Metrics Explained

Biswap launched on the 24th of May 2021 and exceeded $1 billion in trading volume in its first month. That is rather impressive, considering that the platform was unknown and was only entering the DeFi arena. The first month also saw Biswap onboard 1,052,343 users, of whom 103,585 were actively trading and using various services on the platform. The project has also been audited by CertiK, which is a trusted blockchain security firm. Biswap scored 88% on the safety and security audit.

The price of the BSW token has remained fairly stable, unlike many other DEX/AMM projects that often crash and burn after an initial rally. The native token of any DEX/AMM is very important, as its value needs to be maintained to justify using the service. Currently, the TVL is at $435 760 512 and has been as high as almost $1 billion.

The market has recently experienced a flash crash, so that also needs to be taken into account. DeFi TVL in general often bleeds during market downturns and ramps up as soon as the market moves higher. The daily trading volume of BSW is approximately $150 000, with the majority of volume being traded on MEXC Global.

What Is The Benefit Of Staking BSW?

Biswap also enables BSW holders to stake their tokens and, in return, earn BSW and other tokens such as BFG, BNB, DOT, and ADA. The yields are also very high, making it a really attractive offer, especially as the coins and tokens being earned are generally top projects. Earning BNB at 150% APR is an absolute gift in my opinion.

Biswap also gained significant exposure by partnering with BetFury, a crypto-based iGaming platform. BetFury chose to initially list its BFG token exclusively on Biswap. This clearly played a major role in onboarding new users, as BetFury users had been patiently waiting for the BFG token to be listed. Earning BFG tokens is also fairly attractive, as BFG can be staked on the BetFury platform in order to earn daily dividends.

No matter which option you may choose, Biswap definitely has some amazing yields on offer. However, yields often fluctuate in the DeFi space due to changes in liquidity and TVL. Remember, yields fluctuate, and vaults are updated periodically.

How Do Biswap Farms Work?

Biswap also offers an extensive list of farming pairs that can yield even higher returns than staking. As I write this post, there are 56 farming pairs available for farmers to take advantage of. Farming requires a deposit of equal weightings for the desired pair and adjusts according to price action once purchased. Understanding this dynamic, as well as impermanent loss, is imperative for users.

It may be advisable to begin experimenting with stablecoin pairs or with smaller amounts of capital. This is necessary to ensure that you fully understand the dynamics at play. With APY’s of up to 455%, you really don’t want to miss out. However, you want to ensure you understand the potential risks involved. On the other hand, seasoned DeFi players can simply start enjoying some of the great yields offered by Biswap farms.

Conclusion

In conclusion, Biswap provides an unparalleled service within the DeFi space. Not only can users enjoy low trading fees, but they can also earn BSW rebates on every single trade. There is an array of earning opportunities, including staking, farming, and referral program commissions. Referring friends and family will ensure that you earn a commission on their staking and farming rewards. Soon, there will also be commissions paid to referrers for swaps, making Biswap extremely attractive. This is not investment advice or an endorsement of any projects mentioned.