Our CEO appreciates your interest and is always glad to communicate with advanced Biswap users. We hope you have satisfied your curiosity, but if you still have questions, you can ask them via the Form for the next Monthly AMA Session with the CEO.
Those who missed the AMA can check out the questions we have collected.
Part 1. Questions from Form
1. Hello I am one of BSW holders since 2 days the price is dumping just wanna know do you have any plans of token burning or no?
We truly appreciate your loyalty to our platform. The price is going down because of the overall market conditions, which are not favorable at all. Our price is moving along with the market; hence I do not think there is anything to worry about. Let’s just wait for the market to rebound.
2. When will Biswap roll out lending & borrowing?
Lending & borrowing is indeed in our roadmap, but given our planning and the current market conditions, we will be focusing more on the features that are of the highest interest to traders. We’re a DEX in the first place, hence should do our best to be the best in this niche.
3. Any plans of connecting ERC20 to Biswap in the future? Will there be also Launchpools on the new networks?
Ethereum is definitely a very attractive network from a business perspective. But at the moment, we’re still too young to enter this network. From my point of view, Biswap should become a number 1 DEX on the BNB chain before adding Ethereum. We will have more focus on it once there will be ETH 2.0 with much cheaper transaction fees.
4. What is your plan for when the max supply will be reached?
I think I saw this question during the previous AMA session. But anyway, this is something everyone is really interested in. First of all, we still have a long way ahead before we reach the max supply. We keep on decreasing BSW emission, which in turn increases the time until we reach our max supply. Once we reach it, Biswap will be operating in a similar way to Uniswap. By that time our trading volume will be high enough to satisfy our liquidity providers even without BSW payouts.
5. Many swap platforms are beginning to emerge & the competition in the trading space is growing tremendously. What has been done differently to ensure that Biswap is one of the top swap platforms available in the space?
It’s all about trust and competitive advantages. When it comes to trust, I truly believe we have done a great job in this regard. Biswap was audited by the most reputable security audit company on the market — Certik. We have one of the highest security scores in the DeFi space. In addition to that, Biswap has been recently listed on the major centralized exchange platform, including Binance — the world’s largest CEX by trading volume and DAU. This indeed shows how trustful Biswap is. Since the very beginning of this project, our main goal has been delivering exceptional products and services.
Biswap also offers various benefits to users, including but not limited to the lowest trade fee on the market, unique referral program, fixed staking with attractive APRs and so on. We’ve done a great job so far and we still have a lot of work to do. Biswap is currently a Top 2 DEX on the BNB chain by trading volume, DAU and TVL and we’re only 1 year old. We will remain committed to providing innovative solutions to our beloved users.
6. The main reason most projects fail is that they do not have incentives in place for liquidity providers. How will Biswap prevent that from happening on its platform? I hope you’ve come up with various incentives to help incentivize liquidity providers on your platform.
I think Biswap is quite good at attracting liquidity providers. Our analytics teams always monitor the market and we do our best to make sure Biswap has one of the best APRs on the market, if not the best. Our trading volume keeps on growing meaning our liquidity providers can also enjoy higher returns. It’s all about consistency. Apart from that, it’s not always about money. We also need to ensure our platform meets the highest security standards so our liquidity providers can feel secure on Biswap.
7. The fee is based on the trading volume. The more you trade, the less you pay. So if we trade more on Biswap, will the fees be less over time? Can you tell us more about the Fees on Biswap?
At the moment, Biswap has the lowest trade fee on the BNB chain. Additionally, we have fee return in place, which makes trading on Biswap extremely cost-friendly. Trade fee based on the user’s individual trading volume is definitely something we will implement and the timing does not depend on the total trading volume Biswap generates on a daily/monthly basis. It’s more about our internal processes and the goals we set for the future.
8. Most DEXs take a certain time after the initial launch to stabilize and gather a critical mass of liquidity and trading volume. How long does Biswap estimate to achieve stability? What is your plan to achieve this stability as soon as possible?
I think our numbers have been really stable lately. Biswap is a Top 2 DEX on the BNB chain by trading volume, TVL, liquidity and DAU. Our goal is to become a Top 1 DEX on the BNB chain. And this is quite doable given what has already been achieved in less than a year.
The numbers will fluctuate anyway as everything depends on the market. Yesterday we hit our all-time trading volume figures and that’s all because of the market conditions. Having spikes in numbers does not necessarily mean the project is not stable. You also have to keep in mind the market conditions and the general sentiment.
9. Recently, there were exchanges that were hacked and funds were stolen. How will Biswap manage to face this kind of event? Do you have any back-up solution if ever it would happen with Biswap? How tight is your security to avoid these unfortunate events in the future?
As I already mentioned today, Biswap was audited by the most reputable security audit company on the market — Certik. It has one of the highest security scores in the DeFi space making it really secure. In addition to that, all the contracts get audited by Certik before we launch the new feature. Nothing goes to production before it gets audited by our audit team and Certik. Security is everything in the DeFi space and this is one of our highest priorities to make sure our users feel safe on Biswap. We also have a security asset fund for users that should come into play in case something unpredictable happens.
10. Who is navigating Biswap when the CEO is unavailable, and in general, how many pillars do you have and how resilient are you?
Even though the vast majority of work is being done by the team I’m always available for them in case they need me. I’m here to set directions for the project and the team is always there to execute the strategy and make things happen. But I can also tell you that here at Biswap we make decisions collectively within the core team. It’s really important to have a team that cares about the project and does everything to make it stand out on the market and I’m really delighted to have one.
11. When will BSW be listed on Huobi, KuCoin, Coinbase?
Biswap is already listed on KuCoin. We continue working on listing on other major crypto exchanges. We’re not going to limit ourselves to what we have already achieved. A lot of work still has to be done.
12. How to make BSW panic buy by whales?
We would prefer healthy growth rather than hype. You will make people buy your token only if it has real use-cases and true value. That’s what we have been working on and I believe we’ve done a great job so far. There are numerous use-cases for our token and it was also listed on the worlds’ best CEX in the world — Binance. We will continue working on adding new use-cases for BSW that should attract more buyers than we have now.
13. Even if the price goes up after listing on Binance, it will go down again. Is it necessary to review the regulations?
It’s not about regulations, it’s about the behavior of people. Everyone wants to earn money and what you normally see a few hours after listing on Binance is people taking their profit. That’s the main reason for coins to drop in price a few hours after listing. Normally, people newly added coins to make a profit shortly after listing. In very rare cases, they buy those tokens because they love the project and see real value in it.
14. What about Biswap Airdrops?
We try to stay away from this kind of strategy for attracting new holders. Our goal is to show the true value of the project and the token itself. We do not want to give it away for free. That’s not our strategy. We will continue on offering innovative solutions to the market and demand will keep on coming. There is no need for Biswap to give BSW tokens for free and for no reason.
15. Biswap achieved great success in a short time. It was listed on the largest exchanges. It has become a familiar project in the world of cryptocurrencies. What are Biswap new goals after this stage?
You’re definitely right. We’ve already achieved magnificent results in a relatively short period of time. But we still have a long way to go. Our major goal right now (and has always been) is to become a Top 1 DEX on the BNB chain by trading volume, DAU, and TVL and we have the potential and all the resources needed to achieve that.
16. Developing an extensive ecosystem like Biswap requires substantial funds. Is your team financially able to carry out this project? Do you have sufficient funds for its development?
Biswap has been on the market for nearly a year and it has been rapidly developing. Biswap team does not earn any single cent from users’ operations on the platform. The only revenue stream we have right now is coming from our tokenomics in the form of BSW tokens. But we have not used any since the launch of the platform nor are we planning to do so in the near future. All the development you see is being sponsored by our internal financial resources. So yes, we have enough funds to keep on developing Biswap.
17. Your Project has a plan to educate the community, thereby raising awareness, applying and helping more people understand you easily?
Binance is doing a really great job on educating their users when it comes to crypto and they have been really successful in it. We do have plans to develop our education hub and raise awareness of the DeFi space. That’s definitely something we will be working on soon. However, for the quality content to be made, you need to possess enough human capital. Our team is quite big right now but everyone is focused on the product features. Once we onboard more employees, we will have more time to focus on our education hub development.
18. How do you deal with pump and dump investors who just buy and sell regardless of the technology behind it? In other words, how do you plan to gain the trust of all kinds of investors?
There are always people that come for profit. You cannot tell them what to do with their own funds. Hence, our goal is to create true value for the project and the token itself. We cannot control those people who are here to trade and make profit.
19. Investors seek more attention towards projects when the token has more utility. So what makes users hold tokens for their benefits, is there any loyalty program for holders?
We also work on VIP customer support whereby Biswap will be closer to those people who invest a lot of money. These users will be enjoying a lot of benefits apart from the ones available right now. A lot of time has already been spent on market analysis and we have a solid list of advantages that will be available for our investors and high-volume traders.
Part 2. Telegram LIVE Questions!
1. Is this your project only for elite investors, how about others with small funds, is it open to everyone?
Biswap is for everyone. We have multiple features in place that will benefit investors with lots of funds and also investors who have less financial resources. We care about everyone and listen to every user as well.
2. Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project??
As you might have already noticed, we’re now targeting different countries specifically. We do our analytics really carefully and make sure we come up with data-driven solutions. We already have various local chats and we will continue working more closely with crypto users in different countries.
3. Can you tell us about your team members? Are they qualified and professional in their fields? What are the recruiting qualifications for team members for your extraordinary project?
We do have a page on our website with our team members. Of course they’re qualified and professional enough. It’s not easy to become a part of the Biswap team as the selection criteria and process is really difficult. We aim to become a Top 1 DEX on the BNB chain, hence we need the best employees in the field. But our team is really amazing. This team will keep on bringing Biswap to new heights.
4. Do you have any plans to attract non-crypto investors to join your project? Because the success of a project attracts more investors who haven’t yet entered the crypto world. What are the plans to raise awareness about your project in the non-crypto space.
We still have a lot of work to do within the crypto market. Even though we’re a Top 2 DEX on the BNB chain, we’re only 1 year old. The numbers are great so far but could be better as well. We aim to have better figures in terms of our TVL, DAU and trading volume.
5. Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
The lowest trade fee on the BNB Chain, fee return of up to 70% and our unique referral program. All these features have helped us achieve such magnificent results. But it’s also important to understand that you have to be consistent. We need to keep on adding new innovative features all the time to attract more and more users.
6. What are your top 3 things for priorities in 2022? Could you share some plans for the upcoming year?
Growing our user-base, trading volume and liquidity. These things will help Biswap become a Top 1 DEX on the BNB chain. We’re not going to change our plans. New goals will be set only after achieving the existing ones. A lot of work is still ahead on our way to becoming the largest DEX on the BNB chain.
7. Do you guys feel satisfied by seeing your progress and achievements till now, when you look back to the day when you have started this project?
Honestly speaking everyone has to be satisfied with what has already been achieved. Biswap is a relatively big and well-known DEX with a great user-base and pretty solid figures when it comes to trading volume, TVL and liquidity. It takes years for other projects to have achievements like ours. So yes, I’m really proud of what we see so far and what has already been done with the support of our community. And we’re not going to limit ourselves to what has been achieved so far. I will continue repeating that it’s just the beginning of our journey.
Thank you for your curious questions!
Our CEO is looking forward to answering new questions at the next Monthly AMA Session!
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