The Biswap team were pleased to hold the AMA session with Biswappers and answer the most intriguing questions! We hope your curiosity is satisfied and you cleared up Biswap basis and goals. To all users who missed the AMA, we’ve gathered all questions.
Let’s review the interesting questions and comprehensive answers!
Questions & Answers
1. How much money does Binance Lab invest in us? What do they get? And what can help?
Binance Labs is our strategic investor, and apart from that is our key advisor. When it comes to the details of the agreement, I am not allowed to disclose this. We’re always in touch with the Binance Labs team to make sure we are all on the page. They provide us with recommendations when such appear, therefore contributing to the development of the Biswap platform.
2. Many Biswappers and NFT traders have been bothered by the Marketplace. Sometimes, it doesn’t work even after the cache is cleared, as the live chat support told me. Why do the dev team remain the problem unsolved for such a long time?
Some of the bugs on the platform may appear because of the refactoring process. We are all aware of them, and we’re doing our best to make sure you don’t have any issues on the platform.
When it comes to refactoring, this is a step we had to take. Once that is done, our platform is going to be much faster that will allow all our users to make transactions on the platform even faster. In addition to that, it is worth noting that refactoring is not an easy process that requires a lot of time and precision. Hence, we are taking our time to assure everything is done in a proper way.
3. What is your prediction for the expansion and promotion of your GameFi?
It is important to mention that Biswap is a DEX platform first of all. We’ve recently adjusted BSW rewards to the point that will not cause pressure on the reward pool at the same time making sure our users can get attractive returns on their investments. SNW is definitely a product that we will keep on developing, but everything depends on the market situation.
4. Why did the team decide not to decrease SE in Squid NFT World V2.0?
We had to balance the BSW rewards for our users with the cost associated with playing those games. This decision is not going to have a significant impact on the trading volume. DEX is our core product, and we will make sure the trading volume will keep growing by improving our existing products and adding more features to the platform.
5. What are you planning with your Partners LaCucina and Hotcross? What is the benefit of LaCucina and Hotcross in your project ecosystem?
All those projects expand the Biswap ecosystem. We always aim to boost collaborations step-by-step.
LaCucina is one more way for liquidity providers to earn LAC with Biswap LP.
HotCross is a developing project that made a lot of product releases this year, including Stake BSW — Earn HOTCROSS Launchpool and 8 Biswap Cross Yield Vaults. HOTCROSS token is top 700 on CMC. Stay tuned for future po
6. What’s the progress of Biswap roadmap? How many developers do you have in the team? What are the team doing?
Currently, there are more than 20 full-time developers at Biswap working 24/7 to make sure you have an enjoyable and secure experience on Biswap. Apart from product development, our dev team is also working on a day-to-day basis to ensure the platform continues meeting the highest security standards. There is no use of the products if they are not secure. Therefore, part of our job is the security of Biswap and the security of our users.
7. How do you choose the things you want to put on voting? How can we be sure the votings you run are fair?
The team management is working hard and available almost 24/7. We meet and discuss essential questions and updates to the project. Being a community-oriented platform, we put only crucial issues for the team’s strategic development to the Voting. A snapshot is a great tool used by many projects in this world. This tool guarantees 100% fairness.
8. Does the Biswap team plan to burn more tokens?
This will be mainly achieved by improving our current offering and adding new features to the Biswap platform. Increase in the trading volume will help us grow the amount of tokens we burn. In addition to that, there is a number of existing products that generate tokens for BSW burns. By improving these products and making them better, there will be a higher amount of tokens available for BSW burn. At the moment, I think we have quite a good number if you look at the history of BSW burns. More than 20 million BSW tokens were already removed from circulation, which is nearly 10 percent from our current circulating supply.
9. What’s new about Biswap NFTs?
As of now, we are working on Biswap Collectibles NFTs. Hopefully, we can present it to you for our anniversary.
10. Why is it taking so long for BSW to get listed on Binance?
It has been 4 months since an official announcement from Binance Labs. It is not that long to be honest. Binance conducts a very solid DD process before listing a token on their platform. If it were that easy, every token would be listed there. But that’s not the case. Binance is the world’s largest crypto exchange by trading volume and daily active users. Hence. It is quite understandable that they take their time before listing a token. We’re doing everything that is required from our side. I would love to provide you with more internal information but that’s not allowed.
11. What is BSW Holder Pool?
The New Holder Pool gives the same yield as the Auto Compound one. Its key difference is that only by staking BSW tokens in this very pool, our users will get access to exclusive features of Biswap.
At the moment, they are:
✔️Squid NFT World
✔️Higher Rewards: 12%-20% from our Swap Referral Program
In the future: the ability to participate in IDO and the features that will be launched and tied to the BSW staking in the Holder Pool.
12. How do you normally work with your partners?
Before we get to work with a project, Biswap conducts a full-scale KYC process. We do not agree on any collaboration terms before making sure the project is legit. Additionally, we work closely with our security audit partner — Certik and the BNB chain. Once we’ve done our analysis, only then we start discussing potential collaboration terms.
13. What are Biswap plans for the future and how we are planning to develop Biswap to make sure it becomes TOP-1 DEX.
✔️ Developing the BSW token and building our community around both the token and DEX
✔️ Making new innovative features better than competitors, multi-blockchain development, etc.
✔️ Marketing promotion aimed at attracting new users
✔️ Global strategic partnerships with the top projects are currently in touch with
One of the vectors in this direction is a partnership with venture capital funds. Our team constantly monitors the market trends and always does its best to follow them and add some cool new ones, too.
We believe the #1 position is not that far away, and we continue doing our best to reach this peak. Apart from technical and strategic peculiarities, one of the main milestones that distinguish us from other DEX is our 24/7 Support Team! And we do appreciate BSCNews spotlighted this point
14. What’s duration of the Biswap refactoring process ?
It’s important to realize that there is a specific team responsible for the refactoring process. There are other internal groups within the development team working on the new features. Hence, it is not like the whole dev team is only focused on refactoring. While we’re working on refactoring, my team is also working on multi-chain integration. So basically, various processes happen at the time. So you should not think of refactoring as something that limits our development. It is an important step that has to be taken to ensure future seamless development of the platform. I would not name an exact duration of refactoring as there might be various barriers on its way (and you do not quote in the future 😃). But my team and I will do its best to complete it ASAP.
Every day Biswap chat members numbers increase, we would like to remind our users of the Biswap platform main benefits
Sure, Biswap is the 1st DEX platform on BNB Chain with a Multi-type Referral Program and many profitable features:
🌟The lowest exchange fee 0.1% in the DeFi space
🌟Up to 90% Fee Return
🌟Progressive BSW token
🌟High APRs in Farms
🌟50% fee reward of trading fee for Liquidity Providers
🌟Potent tokens to earn in Launchpools
🌟Up to 20% earn via Multi-type Referral Program that expands further in the industry
Biswap has three distinctive directions:
🚀Squid NFT World
Besides, Biswap has a strong Business Development team that works on new collaborations for you!
The collaborations create new opportunities for our dear Biswappers.
Thanks to every Biswapper who took part in this glowing AMA! We were happy to see you in our chat!
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