What is Biswap Token (BSW)?

Biswap is a decentralized exchange built on the Binance Smart Chain (BSC) network that
allows users to trade cryptocurrencies securely. One of the most exciting features of Biswap is the ability to farm BSW tokens and swap them with other BEP-20 tokens at low fees and high speeds – this makes Biswap the crypto of choice for most traders.

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What is Biswap Token (BSW)?

The Biswap Token, shortened as BSW is the crypto coin created by the Biswap platform. The maximum supply of Biswap tokens is 700 million, with a current Biswap token emission rate of 16 BSW per block.

It has a referral system that rewards users with tokens or low trading fees. The products and services offered by Biswap include a trading platform, farms, launchpools, an NFT marketplace, trading competitions, and an NFT game.

There are more than 1,000 coins or tokens on the BNB Smart Chain that can be swapped using Biswap tokens because of its low trading fees of 0.2 %. Even though the Biswap tokens were created to facilitate easy and cheap swapping of coins, it has now evolved to offer various services and opportunities for BSW token holders.

Some of the products and services possible with Biswap include rewarding users who increase the liquidity of the Biswap Tokens. These rewards can be through earning biswap tokens for every referral. Users can also stake tokens in farms and launchpools, buy NFTs on Biswap’s NFT Marketplace, and stake them in the NFT Staking Pool.

Related: Cryptocurrency Remittances for Money Transfer

Products and Services offered by Biswap Platform to its Users

  1. Biswap DEX with a trading fee of 0.2%
  2. Fee rewards
  3. Farming & Staking
  4. Lottery
  5. Launchpools
  6. NFT Marketplace
  7. NFT Launchpad
  8. NFT Staking Pool
  9. Biswap Referral Program
  10. Trading Competitions

The Biswap Exchange does not have an order book but instead conducts trading in liquidity pools. The liquidity is provided by liquidity providers, who are then rewarded with Liquidity Pool tokens (or LP tokens). These LP tokens can be used to earn a portion of the trading fees. The liquidity providers can also use the LP tokens to stake in Biswap’s farms; this can be done with ease at any time.

Fee rewards

To promote the swapping of the BEP-20 tokens on its platform, the Biswap platform reimburses transaction fees to users in the form of Biswap tokens (BSW). This means, when a user swaps on the Biswap platform, the trading fee that will be charged is only 0.2%. After trading, about 50% of the trading fee will be sent to your “Fee Return” balance in the form of Biswap tokens.

Biswap Farming and Staking

You can deposit LP tokens in Biswap Farms and stake them for BSW rewards. Some of the common LP tokens include BNB – BSW LP, BNB – USDT LP, and BUSD – USDT LP. There are many others. The users can as well stake the BSW tokens in the Launchpool

Lottery

Users can use the biswap tokens to purchase lottery tickets and take part in the Biswap Lottery. There are various BSW prizes to earn using these lottery tickets.

NFT Marketplace

There is an NFT marketplace for digital art collectors and NFT lovers. They can use the biswap tokens to trade NFTs at the lowest commission fee of 1 %. The users can participate in exclusive NFT auctions and can earn up to 5% from the price difference between their own and the next closest bid.

NFT Launchpad

Virtual crypto robots can be purchased as Robbies NFTs on Biswap’s NFT Launchpad. These robots can help you earn in the NFT Staking Pool.

What is Biswap Token?
What is Biswap Token?

See also: Is Crypto better than Stocks?

How does Biswap Tokens work?

Biswap as a decentralized exchange uses the automated market maker (AMM) model to allow users to swap any BEP-20 tokens issued on the BNB chain; there are up to 1,000 BEP-20 tokens. Some examples of BEP-20 tokens include Binance USD (BUSD), Biswap Token, Trust Wallet Token (TWT), etc.

The advantage of using decentralized exchanges like Biswap is that you have total freedom; the exchange does not take custody of your funds, making it a good alternative for crypto holders who value trustless systems.

Last Updated on November 2, 2023 by Nansel Nanzip Bongdap
Entrepreneur at Financial Falconet | Author's Bio Page

Nansel is a serial entrepreneur and financial expert with 7+ years as a business analyst. He has a liking for marketing which he regards as an important part of business success.
He lives in Plateau State, Nigeria with his wife, Joyce, and daughter, Anael.