Community Voting for Lottery Budget Reallocation | Opportunities for BSW Holders!

4 min readAug 5, 2022

Biswap keeps moving forward and progressing in the crypto industry. There is always more to achieve and higher peaks to conquer. The Biswap team focuses primarily on the DEX and on developing features that directly affect the advancement of the platform.

We are committed to boosting Trading Volume, Liquidity, and BSW token utilities. Our team wants to ensure that all the resources are directed into the features that will make Biswap #1 DEX. That’s why we need your help to make a decision with us to strengthen the Biswap platform.

What to Consider Regarding Lottery Deactivation & Budget Reallocation

After a detailed analysis of the Lottery feature and its impact on Biswap, we clearly understand that it does not significantly influence our platform by boosting the platform or BSW token on the market. And at the same time, it requires constant replenishment of funds (80 000 BSW per month was allocated to replenish the lottery pool).

We understand that many of our users enjoy the Lottery, but we need to take into account important aspects before making any decision:

The Lottery does not greatly impact BSW token utilities and the platform: for 9 months that it was active, total volume by users using the Lottery reached only 3 141 730 BSW.
The amount of tokens allocated for Burn is insignificant: a total of 408 425 BSW was burned from the Lottery during the 9 months of its functioning, which is only 1.11% of the total burned amount of 36 938 221 BSW.

As evident, the Lottery does not effectively achieve any of the goals when it comes to increasing Liquidity, boosting TTV, and creating utilities for the BSW token. We need to consider the progress of Biswap DEX and what will benefit BSW Holders in the long run.

Therefore, we propose to disable the Lottery and redistribute the budget of 80 000 BSW per month to Double Launchpools and other profitable features for BSW holders. It will create more value for the BSW token and opportunities for more utilities. We want to make decisions regarding the future fate of the Lottery together with YOU, and it is essential for us to hear your feedback.

Voting Options

Take into consideration all the information provided above and cast your vote!

Option 1: Reallocate the budget and Disable the Lottery

More profitable opportunities for BSW Holders
Beneficial utilities and strengthening of BSW token
Increase in BSW token & Biswap statistics
Enhancement of Biswap DEX in DeFi

Option 2: No Changes

The lottery will not be disabled and will be reactivated, so the budget will not be reallocated to create more lucrative features for BSW Holders and to strengthen the Biswap platform along with its native BSW token.

📩 Vote here:

http://biswap.org/votings/proposal/lottery_voting

Voting Duration:

📆 Start: 11:00 AM UTC, 5 August
📆 End: 11:00 AM UTC, 8 August

Terms & Conditions:

The voting period is from 11:00 AM UTC, 5 August to 11:00 AM UTC, 8 August.
The voting counts BSW tokens in BSW Holder Pool, BSW Auto-compounding Launchpool, Manual BSW Launchpool, BNB — BSW, USDT — BSW Farming Pairs and BSW on the BEP-20 wallet balances.
If the number of votes is 51% or more for the option “Reallocate budget and Disable the Lottery”, users will have 30 days after the end of the voting to withdraw funds from the balance on the Lottery page! After this period, all the remaining funds will be burned.
Once voted, you will not be able to vote again.
There is no need to unstake your BSW tokens from Farms and/or Launchpools to vote. The system will automatically sum up all your tokens locked in Farms & Launchpools. Your BSW tokens will stay with you.
If you cannot vote on the Biswap Voting page, please vote on the snapshot.

Disclaimer:

As we operate in the DeFi space, the Biswap team assumes no responsibility or liability for the wallets participating in this community voting, as this is out of our control. Biswap has never used the team’s tokens to manipulate the community voting results, nor is it planning to do so in the future.

Any reliance you place on the information provided by unofficial Biswap channels is strictly at your own risk. Under no circumstance shall Biswap be held liable for the wallets participating in the current community voting. The voting results shall be considered accurate and fair therefore representing public opinion. Everyone has the right to voice an opinion.

Closing Thoughts

We thank you for taking the time to consider all the aspects and participating in the voting. Your opinion is valuable in making important decisions. We are grateful for those who actively participate in the development of Biswap! As a result of your input and feedback, the team is motivated to make every effort to create more beneficial features for the platform and its users.

Let’s keep progressing together!