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Welcome to this post, where we will take a look at how Biswap works and what it has to offer you.
Biswap has become very popular in recent weeks, where we find it in the top 5 of the most used CHALLENGES in rankings like dappradar, and in this video we are going to see what are the different and interesting aspects that brought it to be the one of the most used exchanges at the moment.
Biswap is the market's first decentralized exchange with a three-tier reward system and the lowest transaction fees on the platform (0.1%). It is a decentralized exchange platform for trading BEP-20 tokens on Binance's Smart Chain network, just like pancakeswap. This network guarantees higher speed and a much lower network transaction cost. And biswap, unlike pancakeswap, has lower commissions for redeeming rewards, and you will receive platform tokens for using it.
Biswap is an exchange like pancakeswap or uniswap which is currently only on binance's Smart channel, and we're not going to cover all aspects, as many aspects work the same as any other exchange. But we're going to focus on what's new and interesting about using biswap.
To exchange
The first thing we found interesting was his own exchange. You must first connect your wallet to be able to use the swap. Once the wallet is connected, we'll go to Exchange. As you can see above, it is stated that you can trade at no cost. As we said before, the platform has a commission of only 0.10%, and also, for using the Exchange, you will receive the platform's native token. You will therefore pay almost nothing to carry out biswap transactions. As you can see, in my case I did a swap to verify that it will work, and I have a very small amount of biswap to claim,which you can later sell and exchange for whatever cryptocurrency you want. This is one of the main functions that made the Exchange so popular, paying no commission for the use of the platform.
The operation is the same as for any swap, indicate the cryptocurrencies you want to change, click on swap, confirm in your wallet and you will have the cryptocurrencies exchanged. In addition to an amount of biswap as a reward for using their platform above. I'm not sure if there will always be this platform token reward to trade cryptocurrency on biswap, but at the moment it is active and you can save money by using biswap instead of pancakeswap or any other Exchange.
Farms
Once the swap is complete, let's take a look at the farms. Biswap farms will only be LP Tokens for now. Still, there are some very interesting ones to grow if you're interested. The only downside to biswap farms is that you will receive the platform's native token, and you won't be able to receive more LP tokens as happens in other platforms like beefy. Regardless, you can still create an LP and every now and then sell the tokens you get from biswap to get more LP tokens.
Some very interesting farms are the platform's own with usdt, biswap-usdt with more than 600% apr, iron-busd with more than 120% of a stablecoin and a partially collateralized stablecoin, usdt litcoin with more than 100% and if you like something more stable and secure, there are some stablecoin lp tokens with very high percentages. Like UST-BINANCE USD with more than 50% or BINANCE usd and tusd with more than 40%. To be stablecoins, are very high percentages that few platforms you can find.
My recommendation is that if you are biswap farming try to sell the token every few days and don't rack up a lot of biswap if you don't expect it to increase. If you sell every day or every few days, the annual percentage you get will be very close to what it says, because you won't be as affected if the price of biswap drops as it does if you accumulate a lot of biswap and after a month you come back, and the biswap is worth half.
In launchpools, you can currently only stake platform tokens , with a high annual percentage.
Competition
In the contests, you can participate in the trading contests that biswap organizes on its own platform. To do this, you need to use their Exchange and make a lot of transactions. So if you are a business and enjoy competing, this is a good place to participate. On the other hand, if you don't trade it doesn't make a lot of sense because to get a price you will have to trade a lot. In the leaderboard, you will see the volumes of people, which will allow you to get an idea of ??the volume to reach to get a prize.
Security
Finally, on any DEFI platform, it is important to be aware of security. The last thing you want is for them to disappear with all of your tokens. For this, we have audits that allow us to see if the platform contract contains an error or not. Although an audit does not guarantee 100% that there will not be a problem, it is a great help for greater security. In the case of biswap, we found that it was audited by certik, which is one of the best audits of DEFI platforms today.
Another aspect that I like to look at before placing my money is the TVL or total value blocked in the platform. If it is high, it means that more investors have trusted this platform. In the case of biswap, we find that there is over $ 350 million in total value blocked, which is quite a large amount of capital, and from my point of view, gives a little more security and credibility to the platform.
Hope this has helped you see all the benefits that biswap can bring to you . If you want to use the platform, feel free to use the link below.
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