Biswap FAQs— Precise Answers are Here!

4 min readSep 26, 2021

1. What are the Auto-Compounding Vaults with Biswap Liquidity on TEN❓

Vaults in the crypto world is a secure place where you can store your crypto assets. It is a great option for usage when you do not need to withdraw money for a longer period of time, just like bank deposits.

Now, let’s get more concrete. Auto-Compounding Vaults with Biswap Liquidity on TEN are simply storages that function based on the liquidity taken from the Biswap platform.

In order to activate them, you need to have LP tokens, which you earned for providing liquidity. Once you add LP to the vaults they will be autocompleted automatically thereby boosting getting you more LP. As a result of staking your LP tokens into the Auto-Compounding Vaults — you will earn rewards in TENFI tokens on TEN.

2. What is the Margin Trading with Biswap Liquidity❓

The Biswap partner — Rabbit Finance, has launched Margin Trading with Biswap Liquidity!

This Biswap DEX utility on Rabbit allows users to use the liquidity of the Biswap platform on Rabbit Margin with the following trading pairs:BNB-USDT, ETH-USDT, BTCB-USDT. It means that traders can borrow funds from the Bank on margin for short or long target assets.

A long position reflects an assumption that the price of the asset will go up, while a short position reflects the opposite. While the margin position is open, the trader’s assets act as collateral for the borrowed funds.

Read more about Rabbit M with Biswap Liquidity:
https://rabbitfinance.gitbook.io/homepage/margin-trading/introduction

3.Why users can stake only WBNB instead of BNB❓

WBNB is a token on BEP-20 network, Binance Smart Chain where the price is pegged to BNB at a rate of 1 WBNB = 1 BNB.

Biswap DEX uses BEP-20 network, Binance Smart Chain. So BNB (BEP-2) tokens need to be wrapped (become WBNB) to provide liquidity or start staking. You may wrap BNB to WBNB by choosing BNB-WBNB pair on the Exchange tab.

The gas fee (network fee) is paid in BNB, so you also need to have BNB on your wallet to pay it.

4.Why do users need to pay Lottery commission twice❓

When you buy a lottery ticket for the first time, you need to pay BSC network fee in BNB tokens for approving the contract that is generated for each purchased ticket.

The commission fee can amount to ~0.0003 BNB. After you have paid the BSC network fee for generating the contract, you need to pay for the ticket itself which costs just 1$ in BSW with the network fee in order to conduct this specific payment of the ticket purchasing which is ~0.002 BNB.

❗️The numbers indicated above are approximate as they will vary depending on network congestion.

5. What’s WalletConnect? How to use it❓

WalletConnect is an open protocol that helps to use Decentralized Application (Biswap DEX platform in our case) via your mobile wallet. It provides a secure connection between mobile cryptocurrency wallets and the Biswap platform without additional browser extensions.

Check out the step-by-step guide of how to use WalletConnect here:
https://bit.ly/3vRHT2n

We hope you found all the answers to the feasible questions you could have! The Biswap team is delighted to provide its community with informative articles and clear guidelines.