Biswap FAQs — Broaden Crypto Horizons!

4 min readAug 22, 2021

Meet a new portion of the most frequently asked questions!

You asked and now, it’s Biswap’s turn to answer. Let’s discover new sides of the fascinating DeFi world!

1.What are those unknown tokens you receive to your wallet address for free and what to do with them❓

If you have crypto wallets you may notice strange tokens of unknown origin. Often these airdrops are a fraudulent scheme!

These fake tokens are sent by scammers! When you try to exchange them on an exchange where they are available - you give access to your wallet. After that, the scammers can steal the rest of your crypto.

❗️Always check the reliability of the resource before you participate in airdrop! If you found such an airdrop - the best decision is not to use these tokens! ❗️

2. How to participate in Trading Competitions❓

Users that have had at least one trade (including buys & sells) with the eligible token during the competition period are added automatically to Trading Ranking List. So, you don’t have to do any other actions to become a participant and take a chance to earn mighty BSW rewards.

All your buys and sells will increase your Trading Volume and your rank will move up as well.

Currently, ADA Trading Competition is being held on Biswap! Apply your knowledge in practice and join the battle by simply making trades with the ADA token. It is not only easy and fast, this is a precious chance to multiply your BSW earnings.

❗️ If your trade goes through the Route which includes the eligible token then such a trade will be also added to your Trading Volume of the competition.

3. Why do the ARR & APY percentages change❓

The APR & APY percentages are dynamic and depend on the number of funds locked in the certain Biswap Launchpool.

When Biswappers stake their funds in Launchpools — the APR & APY percentages will lower. It depends on the overall sum staked in them, which means that the APR & APY percentages will change in case of the high demand on the certain Launchpool.

4. Will I be able to withdraw staked tokens in Stake Tokens Launchpools, if their value is more than $500❓

The sum of max stake in Stake Tokens Launchpools on Biswap is shown according to the relevant tokens’ prices, so Biswappers may withdraw their staked tokens without any troubles that could be caused by the price change.

Example:

A user has staked $500 of the certain tokens in Stake Tokens Launchpool with a max stake of $500, and during the staking period, the token price increased to $1000. Despite the fact that the max stake for Stake Tokens Launchpool is $500, the user can withdraw his/her tokens according to the relevant price, so it will be $1000.

5. What are the benefits of becoming a liquidity provider❓

☑️ When you add Liquidity to the Liquidity Pool, you will get LP tokens. The Liquidity Pool will also allow you to stake your LP tokens to earn BSW tokens on Biswap Farms.

☑️ When someone makes a token swap, a transaction fee of 0.1% will be charged, and 0.05% (0,025% of each token you provided Liquidity with) will be returned to liquidity providers in the form of a fee reward.

Hence, apart from earning income from Farms, a liquidity provider will be able to boost his/her profit on users’ token swap transactions.

Example:

If you add Liquidity to $BNB / $BUSD (there must be an equal amount of each token in the dollar equivalent), you will receive BNB-BUSD LP tokens. The number of LP tokens you receive represents your share in BNB-BUSD Liquidity Pool.

❗️ Keep in mind that providing liquidity is subject to impermanent loss and it may carry certain risks. Make sure you are aware of all the pros and cons of providing liquidity before taking any actions.