Biswap x Unicrypt Strategic Collaboration! – 🌐 Biswap News Portal

By partnering with potent DeFi projects, Biswap aims to improve the platform and broaden its horizons. A new powerful collaboration with extensive possibilities is here! Meet our strategic partner — Unicrypt!

Why Unicrypt?

Unicrypt provides 5 main services plus several sub-features, making it a one-stop shop with everything you need to launch a project, purchase tokens from a launchpad, simply stake your tokens, create a farm, and so on. Ultimately it is a Blockchain tech provider.

Unicrypt services include:

Liquidity Lockers
Token Vesting
Token Minter
ILO Platform
Farms-as-a-service

Biswap Integration in Unicrypt | New Future Prospects!

Biswap is integrated into Unicrypt Liquidity Locker. Now, you can lock your Biswap LP tokens using Unicrypt. It provides more opportunities for projects that are launching on Biswap. With Liquidity Locking, the project can strengthen its trust and give more confidence to its users.

What is a Liquidity Locker?

When developers list their tokens and initiate pools on Decentralized Exchanges, they are given LP tokens. After LP tokens are acquired, they can be transferred just like any other tokens on the blockchain they were minted on (theoretically, by using bridges, it is possible for LP tokens to transit to other blockchains as well, but this isn’t very common.).

A liquidity locker allows developers to hold these LP tokens in a smart contract, prohibiting them from removing LPs from the start date (or, more precisely, a start block) to the end date (end block). When it comes to DeFi initiatives, the Unicrypt liquidity locking service is extensively used.

Benefits of this Biswap integration:

More Safety — projects can lock their tokens on Biswap
Increase in Liquidity
New features on Biswap
More possibilities for future development

But that is not all!

Future Biswap Integration in ILO Platform!

Biswap liquidity will be integrated into Unicrypt ILO.

Decentralized Initial Liquidity Offering (ILO) allows developers to raise funds and liquidity for their projects with a decentralized launchpad.

Benefits for the Biswap platform:

New possibilities for launching new projects on Biswap
New services and utilities on Biswap
Prospects for future development
New users and liquidity flow from young projects

How to Lock Liquidity on Unicrypt? | Short Guide

Step 1 - Enter your Pair’s Address

Before going to step one, please make sure that:

Screen_Shot_2022-06-08_at_2.22.58_PM.png

1. The UI to initiate the Unicrypt Liquidity lock

Additionally, your wallet needs to be connected to the decentralized app. Once your token contract address is pasted in the “Pair name or address…” field, the pair will be associated with your wallet balance :

2. Pair found: click on continue to get started!

Step 2 - Configuring the liquidity lock

1. Select the amount of LP tokens to lock

❗It’s a security feature. After the LP tokens have been locked, they cannot be withdrawn until the unlock date.

2. Select the unlock date: after that date, locked LP tokens will be available for withdrawal

❗The dates shown are for UI comfort, but behind the unlocking date is an end block. Dates and hours shown are automatically adjusted according to your browser timezone.

3. Lock ownership unique feature

❗Using this option enables the token developer locking the LP to declare a different lock owner (a different address).

For example, I am locking the LP tokens as a project developer, but this is my project lead that will then be allowed to withdraw them once the end date has been reached.

However, regardless of which address owns a lock, NONE of the LP tokens can be withdrawn before the end date.

4. Allows a 10% discount on the locker fee

❗Locking with a referrer address provides you with a discount. The referrer wallet address must have 3 UNCX Tokens in order to apply.

Fee model: Unicrypt Lockers

❗The flat fee or the amount of UNCX burnt is not specified in the above because it can change over time — The updates are announced on the official Unicrypt Twitter page.

Step 3 - Confirming the lock

Once the first 2 steps of this tutorial are completed, simply confirm the ‘Approve’ and ‘Lock’ standard steps. Thank you for following this guide!

Closing Thoughts

This collaboration brings many new opportunities for the Biswap Platform. And it’s just the beginning! Stay tuned for more exciting features of this strategic collaboration!