Recently I discovered Biswap from the #BSCLearnAndEarn campaign.
Biswap is a decentralized exchange platform (DEX) since April 2021 for swapping BEP-20 tokens on the Binance Smart Chain (BSC) network with the lowest exchange fee 0.1% + up to 100% of the trading fee return with their BSW tokens.
According to BSC Daily (Updated June 30th 2021), Biswap ranked #6 of the Top BSC Dapps with highest transaction volume.
I picked the “USDT” -> “BUSD” swap and comparing with some common DEX on BSC.
You can see that the fee is promising low with 100% fee return.
Additionally, like other BSC dapps, you can add liquidity to receive LP tokens and staking your LP tokens in return for additional BSW tokens. They offer both High Yield and Stable Coin LP stacking.
On the day of my writing (July 1st 2021)
Biswap with $243 810 489 200 Total Value Locked (TVL).
The BSW token with Max Supply of 700 000 000 BSW and supplied 43 590 608 BSW so far, pricing @ around $0.5 with record high @ around 3.5 on 27 May.
Security, Audit & Risk consideration
(As of June 30th 2021)
Biswap passed the audit from Certik with the Skynet statistics activated. Users can monitor the precise security analysis of Biswap smart contracts 24/7 and stay up to date.
They have also implemented a 6 hour timelock. The owner of masterchef contract is now the timelock and not the Biswap team.
Every single user on the Internet will be able to see the upcoming changes to Biswap smart contracts 6 hours before they come into force
Check out the proof: 👇
https://bscscan.com/tx/0x9ae37131de17388e623b95fc4bd85e90d9791dd2e9a483991f658459ff4194b5#eventlog
Rugdoc consider Biswap as High Risk, while they consider “the 6 hour timelock, which is close to useless due to the fact that you can’t even goto sleep with your funds in the project.” More detail: https://rugdoc.io/project/biswap/
Remark:
- PancakeSwap having a timelock of 6 hours
https://medium.com/acryptos/how-to-get-into-new-farms-on-pancakeswap-before-anyone-else-for-unfair-superprofits-fc5122f911d
- MDEX having a timelock of 2 days
https://mdex.com/certik.pdf
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You can support my writing by using my referral links below. I can earn a certain commission reward from your swaps on Biswap and 5% from earnings on Farms & Launchpools. (I am also offering 50% of the referral rewards return to you)
https://biswap.org/?ref=9fa0c8c4bd5459fa62e8
Disclaimer
My experience, research, experiment result and opinions expressed are not investment advice and are only for educational purposes. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility
