Biswap

Market Making

Biswap is a decentralized exchange native to the BNB Chain that allows for permissionless trading and liquidity provision (to earn swap fees).

Risk Rating
Watch Out
Protocol Code Quality
Protocol Maturity
Protocol Design
Summary
What we like
Offers one of the lowest platform fee exchanges with a multi-type referral program on BNB Chain.
What we like less
The team is anonymous and there is no documentation on admin controls. Masterchef contract is not setup as a multisig address.
What it means for you
BiSwap offers you a top decentralized exchange to swap asset and provide liquidity while also profit sharing through its referral program.
Information
Exploit/Hacks
None
Info
  • Website
  • Token: BSW
  • Tags: Market Making
Key Metrics
  • TVL: $21.6M (Rank #122)
  • TVL Ranking by Market Making: #0
  • Blockchain: Binance
  • Chain TVL
    • Binance: $21.61M
Risk Assessment
Watch Out
Protocol Code Quality
  • Code reviewed by at least one experienced auditor; Halborn audited in May 2021
  • Anonymous team reduces transparency
  • No documented protocol hacks since launch
Protocol Maturity
  • Core protocol launched in 2021; maturity over one year minimizes technical risk as smart contracts are well battle-tested
  • Top 5% by total value locked reduces risk
  • Multisig wallet controls protocol upgrades
  • Multisig consists of at least 4 signers, which means the protocol is less susceptible to centralization risks
  • Timelock is less than 48hrs, which provides users with less time to exit if any malicious upgrades are approved
  • At least one critical governance issue documented
  • Low voting power concentration reduces risk
Protocol Design
  • No death spiral concerns
  • This protocol is susceptible to risks related to decentralized exchanges (DEXs), such as impermanent loss
Things to know about Biswap

How Biswap works

Biswap is an automated market maker (AMM) like PancakeSwap that launched in 2021 on BNB Chain. AMMs rely on liquidity pools rather than traditional order books to execute decentralized trades. The liquidity pools are funded by users who deposit two tokens in equal proportion in exchange for a liquidity provider (LP) token that represents their claims to their share of the total pool, plus a portion of trading fees. On Biswap, you can earn additional yield by locking up your LP tokens to farm them for the protocol's native BSW token.

How Biswap makes money

Biswap charges a 0.2% fee on all trades within a liquidity pool. Of this amount, 0.15% is paid to LPs as a reward for providing liquidity, 0.02% goes to the Biswap team, 0.02% goes to Biswap Earn (Multi-reward pool, Launchpools and other product features), and 0.01% used to buyback and burn BSW. The last mechanism has the intended effect of constantly putting upward price pressure on the BSW token.

How you make money on Biswap

You can stake BSW on the platform to farm additional rewards paid in BSW and other native protocol tokens. The protocol constantly earns 0.01% of all trading fees to be used to buyback and burn BSW. LPs also earn 0.15% of fees in return for providing liquidity on Biswap.