An Introduction to Biswap and its Unique Earning Programs
DeFi protocols are mushrooming all over the crypto-world. With more and more blockchains entering into this ecosystem, the battle of blockchains is gaining intensity as well. While all of these are really exciting developments, it does leave many investors wondering where to put their money.
Biswap is definitely one platform you need to check out if you like investing in yield farms with high APYs. One of the fastest-growing DEXs (decentralized exchanges) on the BSC (Binance Smart Chain) network, Biswap is said to have the lowest trading fees.
Biswap is among the winners of MVB II, Binance Smart Chain’s Most Valuable Builders, and Binance Labs has announced a strategic investment in this upcoming DeFi protocol.
Let’s find out what makes Biswap stand out from among its competitors, its Robbie NFTs, unique referral program, lotteries, and all the other exciting features it offers.
BiSwap Tokenomics: The BSW Token
The native tokens of Biswap are known by the symbol ‘BSW’. These are Bep-20 tokens. BSW tokens can be used for a wide variety of activities on the Biswap platform.
You can buy the BSW tokens, earn them as rewards from staking, farming, and referrals, or win them from games and lotteries on the Biswap platform.
The maximum supply of the BSW tokens is capped at 700,000,000. These BSW tokens are allocated as follows: Farms/Launchpools get 80.7% per block, while Referral Programs are allotted 4.3% per block. The remaining goes to SAFU (1% ), Team: (9%), and Investment Fund (5%). 100 million BSW tokens are allocated for Transaction Fee Mining.
BSW Token Burning: There is a deflationary mechanism for the token in place, which gradually reduces the circulating token supply. This helps keep the token price steady and as supply decreases, the price of tokens is more likely to increase.
Biswap’s deflationary mechanism works by:
- Collecting all the rewards (in the form of BSW tokens) from the accounts without a referrer and burning these BSW tokens.
- 50% of the trading fees on the Biswap platform, which is collected as BSW, is burned.
- The performance fees from BSW Auto Compound are used for token burning.
- 13% of funds collected from lottery ticket sales are used for token burning.
8 Biswap Advantages that Make it a Winner
Before we move on to what all you can do on the Biswap platform, let's see whether this platform is worth investing in. What makes Biswap stand out from its competitors on BSC as well as the other competing blockchains.
1. Attractive and User-Friendly Interface
Many DeFi protocols out there have pages that scare the investors off as they look too complicated to navigate. Biswap has an attractive homepage with a clear-cut menu for easy navigation. The professionally designed web pages are simply outstanding. This definitely instills a level of confidence among users who are wary of scams.
2. Cost-Effective and Speedy
As you all know, Ethereum is known for its high gas fees and network congestion issues. Considering that Biswap runs on the Binance smart chain, you get faster and cheaper transaction costs.
3. Lowest Trading Fee & Trade Fee Reimbursement
This platform claims to have the lowest trade fee in the DeFi space.
The trading fee is just 0.1%. That is indeed astonishingly low!
This means - when you invest 1000 dollars on the Biswap platform, you need to pay only a dollar in the trading fee.
On the other hand, for platforms that run on the Ethereum blockchain, such as Uniswap or SushiSwap, the trading fee is about 0.30%. So for the same amount of 1000 dollars, you will end up paying 3 dollars in trading fees.
Even if you take a platform such as PancakeSwap on the BSC blockchain, the trading fee is at 0.25%.
All the fees mentioned above are charged directly by the respective platforms, in addition to the Ethereum or BSC gas fees charged separately from the connected wallet. For a limited time period, Biswap is also offering free swaps on its decentralized exchange. The trading fee will be repaid to you in BSW tokens.
4. Exceptionally High Yields
The yields currently offered by Biswap are multifold of what PancakeSwap, UniSwap, or any of the others are offering.
You can get above 500% APY to even 1500% in some farms. As you can see in the image below, ZOON-BNB is at a stunning 1490.64% ZOON is a token of the popular NFT game CryptoZoons.
All this is great news, but you do need to exercise some amount of caution here. Biswap is a relatively new platform in the DeFi world. Yield farming investors may face a considerable amount of impermanent loss if by any chance the BSW token falls or fails to rise while BNB or the other paired tokens in the farms go up.
These are some risks you would want to watch out for, such as rug pulls. An unbelievably high APR is usually a scam indicator, although these can turn out to be genuine incentives for early investors.
5. Audits by CertiK
You know a platform is safe if it has been audited by a reputed firm. Biswap has been audited by CertiK, a very reputed cyber-security firm.
Biswap enjoys a security score of 89, which is a pretty decent score. Though the audit is still ongoing, the most critical issues and the major issues have been resolved.
6. Biswap SAFU: Emergency Insurance Fund
Safe is synonymous with SAFU. The Biswap SAFU (Secure Asset Fund for Users) is an emergency insurance fund provided by Biswap for all its users. For this purpose, 1% of all outstanding tokens are allocated to a specified wallet to protect users and their funds, in case of a crisis.
Take note that Biswap covers only the losses incurred from issues at their end. Biswap SAFU will not cover any losses due to your mistakes such as misplaced passwords or stolen seed phrases.
7. The $100,000 Bug Bounty Program
It is reassuring to know that Biswap pays special attention to the safety and security of its platform. If you are tech-savvy and have an eye for details, take active steps to prevent any sort of exploits, report bugs, and other security vulnerabilities. If the security exploits reported are legitimate, you get rewarded with BSW tokens.
The compensation you get depends on the seriousness of the bug reported. While simple stuff like pointing out spelling errors on their website can get you $10, issues related to the mechanics of the website are offered $1000. If you can spot any issues regarding financial losses or security exploits, you get rewarded with a whopping $100,000 worth of BSW tokens!
8. Strong Community Backing
Biswap is backed by a strong community of over 132.72K users already. It has a strong social media presence. These social media platforms such as Telegram have official admins and Biswap offers you 24/7 customer support.
Did you know that Biswap is listed among the top DEXs on BSC and has already surpassed the 1 billion transaction milestone! So stay updated with their latest news via Twitter and Telegram.
Biswap Features and Activities for Making Money
There are numerous ways to earn money on Biswap. Let’s check them out one by one.
1. Swap, Farm, Stake
From swapping tokens on the Biswap exchange to adding your crypto assets into their liquidity pools, yield farming, and staking, Biswap offers you all the standard offerings of a DeFi DEX and yield farming protocol.
This is too big a topic to cover in this article, so we have dedicated a full article for - How to use Biswap for Yield Farming and Staking. So make sure to take time and read that in detail.
2. Three Type Referral System
A very unique offering from Biswap is its three-type referral system.
You can earn more by simply inviting your friends and convincing them to invest in Biswap. From the moment your friends invest, you start earning BSW tokens as a reward.
So, do you invite your friends? No worries, it’s depicted very clearly in the image given below.
So what exactly are the three types of referral rewards mentioned here?
- Swaps referrals: You will get a commission reward every time your friend makes a swap. Once the swap is executed, your reward is sent to your referral balance immediately.
- Farm referrals: If your referred friend invests in farms, you get 5% of your friend’s harvested income. Say your referral friend invests 1000 BSW, you earn 50 BSW, which is 5% of your friend’s earnings.
- Launchpool referrals: You can earn 5% of your friends’ profit obtained in Launchpools! This is valid only for the pool in which BSW is staked for returns of more BSW tokens.
All the referral rewards earned are shown in your Referral Balance, in the form of BSW tokens. For Farms and Launchpools, your rewards are reflected in your balance when your friends withdraw their BSW earnings.
To withdraw your referral balances, some commission has to be paid.
- For Farms & Launchpools, you have to pay a commission of 0.3 BSW
- For the Exchange, you need to pay the BSC network fee + 2% Biswap operational fee
You are free to also share your commission with your friends too, to tempt them to join. You can set profit sharing at - 0% share, 10% share, 25% share, and up to 50% of your referral rewards.
3. Biswap Lottery
So Biswappers, are you all ready to play the game of luck? Biswap offers a very exciting feature called the Lottery. Go ahead and buy lottery tickets to win amazing BSW rewards.
The duration of each lottery session is 12 hours. The cost of each lottery ticket is $1 in BSW. You can buy unlimited tickets, but at a time only 500 tickets can be bought. If you buy tickets in bulk, you are eligible for a discount too. The ticket price is set at the start of every round and targets $1. The price will vary, hence it’s preferable to buy in bulk.
As you can see in the above snapshot, you can save up to 4.99%, a bulk discount. Every ticket will have a random 6 digit combination with each digit between 0-9. For winning the lottery, the digits on your ticket should match the winning number in the correct order.
The prizes for each round are dependent on 2 factors. One is ticket purchase and the other the rollover prizes. 80 percent of the total purchase amount is allocated to the prize pool.
As seen above, there are various prize brackets where you can win. 100 percent of the prize pool is allocated. If by any chance, no one wins in one of the prize brackets shown above, the unclaimed tokens will roll over to the next round.
Remember we discussed the three-type referral system earlier in the article. So if one of your referred friends also tries their luck with a lottery ticket, you are entitled to a 2 percent in BSW as a referral reward. This reward will be reflected in your lottery referral balance on the lottery page itself. Wow! You can literally earn at every step.
Another way to earn in Biswap is via competitions.
1. Lottery Competition
By default, any user who has bought lottery tickets is entered into the lottery competition as well. There are two competitions - A and B.
- Competition A is when the first 100 participants are ranked by the maximum number of tickets purchased by each of them.
- 94 percent of the prize pool is allocated for the rewards. So if you rank 1, you take 30 percent of the pool as a reward.
- For the rankings from 2 to 100, 64 percent of the pool is divided as a reward equally among the users.
- Competition B is based again on the ranking. So if you are ranked 9,19,29,39,49,59,69,79,89,99, you are eligible for an additional reward. This reward is 0.6 percent of the total prize pool.
2. Eternal/BFG/ FIL/ LINK Trading Competition
To be a part of the Eternal Trading competition, the first mandate is that you should have at least one trade with an ETERNAL token. An eternal token is a proxy token. This can be exchanged for an Eternal coin.
Again there are two competitions.
- Competition A is based on ranking the first 200 users on their trading volume. They will share a pool of 1800 dollars.
- Competition B is where if you are ranked at 7, 17...and so on till 197, you each receive an additional reward of 10 dollars each.
Similarly, if you hold the BFG token or the FIL token, or the LINK token, you have similar competitions, where one can take part in. The rewards and the conditions slightly vary for each one. So feel free to hold these tokens and take part in competitions. Hold while you earn. You can check the terms and conditions of each on their web page.
5. NFT Earn
NFT stands for Non-Fungible Tokens. NFT can be a unit of data or a digital asset stored on a blockchain that is unique and non-interchangeable. NFTs can represent any sort of digital file.
The Biswap platform supports the trading and staking and auctioning of these unique digital assets. In the initial NFT Launchpad, 28 366 Biswap NFTs were sold. The NFTs, known as Biswap Robbies have different attributes that are randomly generated. There are level 1 to level 6 Robi NFTs. their levels are denoted by the background color of their cards.
For instance, level 4 NFTs have a violet background and are depicted as cosmic characters. Level 2 characters are at ground level with a green background while level 3 have reached the sky, so they have a blue background. Level one is a neutral grey canvas as it’s just starting out while level 5 gets a yellow background for its stellar Robbies. To highlight the exclusivity of level 6 Robbies and their supernova power, they get a flaming red card!
Other than trading these NFTs and reaping some profits, you can choose to stake your NFTs in staking pools on Biswap. Click on the red ‘Calculate’ button to find out estimated payouts.
You can use the Calculate button on the NFT Staking page to calculate your estimated payouts depending on the number of Robi Boost.
Click on the blue ‘Stake’ button to add it to the NFT pool.
If you are planning to stake many NFTs, then just click on the checkboxes in the NFT cards and then click the blue button on the right-hand side top of the account to stake all the chosen NFTs.
If you are bored earning tokens the conventional way, you can instead have fun and earn them while you play games.
Biswap has a partnership with BetFury, the i-gaming sphere. BetFury has over 3500 games and over 30 currencies. It is a multi-currency platform where you can earn the native BFG token. It allows you to stake, mine, and earn.
Biswap has collaborated with other gaming projects such as CryptoZoon, DeFi Pet, and many more. CryptoZoon is a next-generation concept that combines the blockchain-based gaming world and NFT.
Read more: The Beginner’s Guide to CryptoZoon
7 Global Incentive Program with $10million Fund
Another Biswap opportunity for investors is participating in the 10 million dollar incentive program. You can collaborate with Biswap for your own project on the Binance smart chain network.
You can avail of the following benefits.
- You can get up to 100 percent fee reimbursement with your token swaps
- You can have your Biswap farm with rewards in BSW.
- For the best projects, Biswap will allow other users to stake their tokens via launchpools. This way your token will be distributed across 45000 plus BSW holders. You can take advantage of strong marketing promotions and competitions that will be organized using your token to increase trade volumes.
- At every step, the Biswap team will help you hold your fort. If they see value in your project, you can also be provided 10000 dollars to 30000 dollars for project building and up to 10000 dollars funding for a security audit.
Before You Go...
Biswap, though relatively new, has come a long way. And the team behind the platform has a brilliant plan, which is very evident from the checklist that has been maintained.
As you can see, only the first phase of the project has been completed. There is much more in store. From grand listings and more launchpools to many successful collaborations and strategic partnerships, Biswap is moving forward boldly and overtaking its competitors.
The new kid on the block is definitely getting popular with each day. So what are you all waiting for? Do your own research and then start swapping, farming, staking, gaming and more on the Biswap platform!