Live AMA Session with Biswap CEO on March 4 | Discover the Answers to Your Questions!
Our CEO was glad for an opportunity to have an AMA session to communicate with Biswap users. We hope that you were able to find answers to your questions. Those who missed the AMA can check out the questions we have collected.
Here’s an overview of what has been discussed.
Questions & Answers
1. Why do we need to pay for users who play the SNW game and aren’t interested in holding BSW?
SNW is one of the products of Biswap that distributes the rewards just like other products of the platform. The recent changes proposed by the team and approved by the community aimed to decrease the pressure on the reward pool, hence optimizing the distribution of the BSW token. This game was developed to attract more users to the BNB chain. When looking at the data, this game allows us to be among the top GameFi projects on the BNB chain.
2. What is your plan for the bad market? The BNB Chain is descending daily, and people are not interested in the BNB Chain projects.
We clearly realize that DeFi is not limited to the BNB chain only. We also see the development of other chains. Therefore, one of our strategic goals is multi-chain integration. According to the results of our recent community voting, the next chain for Biswap will be Fantom — one of the fastest-growing chains by TVL at the moment.
Biswap has been emphasizing the importance of the max supply of the native token to make it more scarce and valuable. On the other hand, some DeFi DEX have an unlimited supply and APRs of the Launchpools can be prolonged and sustained at a higher rate for a longer time.
3. Since Biswap will introduce multi-chain, and there is a max supply, how will the APR in the Lauchpools for the native token BSW be attractive and sustained when it reaches max supply?
We are working on the trust and reliability of our project. Both at this stage and after the emission of all tokens, the main focus of our project will be on the development of DEX and increase of the trading volume so that, first of all, liquidity providers receive a high level of profitability. In addition, we will work on the development of additional features that will provide revenue for BSW holders.
4. What procedure is in place to prevent future product launches from changing so soon after the launch?
The changes that were recently proposed and approved by the community aimed to improve the Biswap platform as a whole. We have to care about the well-being of the platform and the well-being of the BSW token.
In addition to that, the recent optimization of the BSW rewards in the SNW has helped us limit the pressure the reward pool had on the BSW token. The cryptocurrency market is subject to rapid changes; hence we also have to adjust our operations accordingly to stay competitive. Everything we do is with the intention to make Biswap better.
5. With the emphasis on NFTs and Marketplace on the platform, why Marketplace improvements are not being prioritized. What about the filters for Squid Players?
Marketplace improvements and filters for the Squid NFT Collections are at the final stage. These tasks are tied to the upgrade of Marketplace to V2.0, so there are delays. Also, a great resource of our team is aimed at refactoring. Major Marketplace updates to v2.0 and filters will be implemented comprehensively within a month.
6. How will the Biswap CEO ensure that the team doesn’t make mistakes which result in the BSW price decrease and FUD?
First of all, it’s worth noting that the BSW token was used for an IDO and not USDT. A few days after the launch of the game, we released the game tactics where all our users could check the winning tactics for players of all levels, including 1st level players. The reason for the drop in price after the launch of the game can be explained by the fact that many whales started to sell the BSW token in an attempt to make a bigger profit. In addition to that, the reason for the price of the BSW token being near the two-dollar mark before the launch of the game is all the news about the release of the game. Hence, people were buying BSW tokens in preparation for the game’s launch.
7. Sometimes, connecting your wallet to Biswap DEX causes the page to turn white, and there are other bugs in the NFT Marketplace and Squid NFT Game. What measures are put in place to ensure this is resolved?
When it comes to some of the bugs on the platform, I can say that it is really important to understand that Biswap is not only a DEX platform as it started. In just 8 months after the launch of Biswap, we have created a complete suite of products, including DEX, NFT Marketplace, and GameFi. All these products require a lot of time and human resources. We realize the importance of onboarding more and more devs so that all our users can have a seamless experience with all our products. We collect the feedback on a day-to-day basis, and when bugs arise, they are forwarded to the dev team immediately.
8. What about the main CEX listings?
As was mentioned before in this chat, listing on the main cryptoexchanges is definitely one of our main focuses. I completely agree with you that this is important for developing the Biswap and the BSW token. We are in active negotiations with the main exchanges. We provide all the necessary information to list BSW. However, we do not influence the speed of the confirmation, and we cannot provide specific dates.
9. What about new IDOs?
Bringing new IDO partners to Biswap is not as easy as some people might think. Since we try to provide quality service, we research the market and the experience of our launchpad partners in conducting IDOs. We came to the conclusion that most new projects lose their position after an IDO for a number of reasons. Therefore, our team analyses each project in-depth, product development plan, team members’ experience, tokenomics and marketing plan. But for now, I can assure you that we are actively negotiating with several projects to provide them with IDO.
10. Do you have any plan to go back to the spirit we could see in the very first days of Biswap? Before the Binance Labs thing, the community feedback was more kindly responded to.
I totally disagree with this point of view. Constructive feedback is always appreciated. Our approach has not changed after an investment from Binance Labs. We will never make any changes that have the potential to negatively impact the project. Everything we do is with the intention to improve Biswap and not visa-versa. We always listen to the feedback from the community and never make any strategic adjustments without the prior consent of our community. That’s why we had so many votings during the last month.
11. Will the maximum coin supply stay the same? And what are the plans after the release of 700M coins?
It is technically impossible to make any adjustment to the max supply. Therefore, it will remain 700 million BSW tokens as outlined in our tokenomics.
12. How will token emission look in the future since it is lower than planned in the beginning?
As stated in our docs, we will carefully analyze the market situation and adjust our token emission accordingly. I can assure you that we will not make any changes without prior approval from the community. The cryptocurrency market is very volatile; hence making predictions is very risky.
13. Why Biswap didn’t have a new launchpool lately? How did you fix low APRs?
Starting from next week, we will be releasing launchpools with stable and well-known tokens such as BNB, USDT, ETH and so on. Our marketing team will update you on the launch dates of these pools. Make sure you have BSW tokens staked in the Holder Pool.
14. Did you plan the lowest fee trade for a multi-chain network?
I would refrain from giving an exact %, but Biswap will make the best offering on the chain.
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