Report of August AMA Session with CEO | Deepen Your Knowledge about Biswap!
Our CEO is glad to communicate with the Biswap community and provide answers about important topics. We prepared a report for those who missed the AMA so you can be updated due to the latest discussion.
If you can’t find the answer to your question, you can ask them via the Form for the next Monthly AMA Session with the CEO.
1 000 BSW are Shared | AMA Quiz from Biswap CEO
The CEO decided to reward the most attentive and knowledgeable Biswappers! There was a Quiz provided for the AMA participants as a surprise!
💰Pool: 1 000 BSW
📑Topic: Biswap’s recent updates and partnerships
👑Winners: Fist 10 who answered all the questions correctly and joined TG Global Chat & Biswap Announcement Channel
🎉Rewards are distributed among lucky users!
Thanks to your activity and feedback, we decided to hold an AMA session quiz regularly. So, participate in the next AMA and answer the questions to share robust BSW!
Questions from the Form
1. Please tell me, until what issue will the BSW token be burned? Is there a certain threshold when it will stop? Or will you do it like Binance until the issuance is reduced to a maximum of 100 or 50 million BSW tokens?
We will stop burning BSW tokens until the circulating supply is reduced to a specific limit. As of now, it is really difficult to state an exact number as the market conditions change rapidly. Hence, the final decision will be made in the future. We still have a lot of BSW tokens to be burned.
2. I see that Biswap is heading for trading priority. What motives and reasons have caused the Biswap team to change some of the fundamentals, expand the trade section and reduce the burn amount?
You’re right. Biswap is diving more into the development of the trading features because we’re a DEX in the first place. Apart from that, we will also continue making certain strategic decisions that Biswap will benefit from. We will continue doing our best to attract as many liquidity providers as possible. Biswap should be an attractive platform not only for active traders but also for people that provide liquidity. Additionally, our product team will continue focusing on the features that should secure passive income for users in times of market instability.
3. Is there any chance that Biswap will be on Polygon?
Quite some time ago, we made an announcement regarding Biswap becoming a multichain platform. We’re ready to expand Biswap operations to a new chain, but the market conditions changed very dramatically. Taking the situation on the market into consideration, we decided to focus on other things (adding trading features to the platform and developing the platform as a whole). Right now, we do not have plans to expand Biswap operations to new chains.
4. As Biswap, among all DEX, has the lowest fees + refunds the fees, how do Biswap make a profit?
Currently, Biswap has no revenue streams apart from the tokens allocated to the team. However, we have not spent any single token allocated to the team. All the trade fees are currently distributed among the liquidity providers and are also used for BSW burn. In the coming days, the Biswap team and the community have decided to increase a trade fee to 0.2% to help the project grow faster. In such a case, we will be able to give more commission to our liquidity providers, thereby making the project more attractive for those providing liquidity.
5. As a CEO, where do you see Biswap’s future? It will be really good to hear it from the CEO as we also will be motivated.
As the project’s founder and CEO, I confidently state that Biswap will eventually become a TOP 1 DEX on the BNB chain. We have a team of dedicated and passionate professionals ready to give it all to the project. We work 24/7 to ensure Biswap meets the highest users’ expectations. Biswap became a TOP 2 DEX on the BNB chain and got listed on Binance in less than a year since its launch. I think it’s quite a strong indication of how strong Biswap is. We have a lot of things to be released in the future, and all these features should help us become a TOP 1 DEX on the BNB chain. Biswap has the potential to become a project that will be leading the DeFi sector.
6. I think you can also communicate with crypto analysts to give buy/sell signals to their customers; this will significantly raise the price.
This is definitely something Biswap will stay away from. It’s essential to understand that Biswap is not your advisor, broker, or intermediary and has no fiduciary relationship or obligation to you in connection with any trades or other activities or decisions affected by you using Biswap Services. Biswap does not provide personal advice about our products and services. No communication or information provided by Biswap is intended as or shall be construed as investment advice, financial advice, trading advice, recommendation to transact in any investment or solicitation to engage in any investment activity. You are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you according to your investment objectives, financial circumstances and risk tolerance. You shall be solely responsible for any loss or liability therefrom.
7. Biswap must be more innovative than Cake. Can we implement our road map fast?
Our multi-reward pool that should be released in the coming days can be considered as an innovative feature. Innovation is not about speed, it’s all about quality. Biswap has been and will remain committed to providing products of the highest caliber of quality while ensuring the platform meets the highest security standards.
8. The current market situation is too unstable and holding back investors. So can you give me some good reasons why I should buy your tokens in this market situation? And also, why should your token holder keep holding?
As a founder and CEO of Biswap, I could have stated various reasons so I can convince you that buying BSW tokens is definitely a good decision. But I am not going to do that. It’s entirely up to you. I am firmly convinced Biswap has already achieved many goals that prove the project’s strength. However, I should mention that before deciding to buy, sell or hold any Digital Asset, you should conduct your due diligence and/or consult your financial advisors before making any investment decision.
9. What competitive advantage does your project have that you feel most confident about?
I believe the most competitive advantages our project has are:
1. The lowest trade fee on the BNB chain (even after the trade fee increase)
2. Trade fee reimbursement
3. Multi-Type Referral Program
10. What benefits and improvements in your future will cause the fee increase?
The main advantage of the trade fee increase is the ability to provide better conditions for our liquidity providers, so we have more liquidity on the platform = less slippage. Liquidity and trade volume are the best indicators for assessing the success of a DEX platform. By attracting more liquidity to the platform, our users will be experiencing less slippage, which should potentially increase the trade volume as well. In addition, by increasing the trade, the team will have additional financial resources under control that will be used for Biswap products.
Our marketing prepared a detailed description of all the above, and you check it out by following this link:
11. There is a rumor that Biswap also owns Betfury. I know that you are partners. Could you help Betfury to enter Binance?
BetFury is our strategic partner; as you can guess, we have no control over their operations. Biswap cannot help Betfury to get listed on Binance. That’s not how it works. Binance has a very solid due diligence process, and hopefully, BFG will be listed on Binance in the near future.
12. What are Biswap’s strategies in the face of the recent bullish candle in cryptocurrency prices?
These market conditions are perfect for developing the project. This is the time when projects have to develop their ecosystem and add new, quality features. These market conditions will show solid projects as only a few will go through this bear market. It’s difficult to keep developing when you see the numbers going down. But you will not see the numbers going up without any development during the bear market. We take current market conditions seriously and will continue to develop regardless of how tough it can be.
Biswap CEO is grateful for your interest in Biswap! We hope you have found the answers and portion of motivation to move forward with Biswap.
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