Biswap is a decentralized exchange (DEX) built on the BNB Chain that uses automated market maker (AMM) pools, lower BNB-chain gas costs, and native token incentives to offer low fees and yield opportunities. This guide explains what Biswap is, how the DEX functions, how fees and liquidity work, and what the BSW token does—so you can decide whether to swap, provide liquidity, or stake.

At its core, Biswap is an AMM-style DEX where users trade token pairs through liquidity pools rather than order books. It runs on the BNB Chain (formerly BSC), which delivers faster and cheaper transactions versus networks like Ethereum. Biswap combines swaps, liquidity provision, farms, staking, and referral/discount mechanics with a native token (BSW) that powers rewards and governance.

• Type: Decentralized exchange (AMM) on BNB Chain

• Main functions: Token swaps, liquidity pools, yield farming, staking, limit orders

• Native token: BSW (used for rewards, staking, discounts, governance)

• Target user: Traders and yield-seeking DeFi users looking for low gas and low swap fees

Automated market maker (AMM): Biswap uses AMM pools where liquidity providers (LPs) deposit token pairs (for example, BNB/USDT). Prices are determined by the pool’s token ratios via the constant product formula (x * y = k). When traders swap, they change the ratio and pay a small fee; LPs earn a share of those fees proportional to their pool share.

Key mechanics:

• Liquidity pools: Provide capital to enable swaps and receive LP tokens representing your share.

• Swaps: Trade without counterparties; slippage depends on pool size and trade size.

• Farming & staking: Stake LP tokens or BSW to earn additional BSW rewards.

• Limit orders: Place price-targeted trades that execute when conditions match (useful for traders who prefer price control over instantaneous swaps).

If a BNB/USDT pool has equal USD value of both tokens and someone swaps a large USDT amount for BNB, the pool’s USDT balance goes up while BNB decreases, pushing the BNB price up. Traders pay the swap fee; LPs receive a pro rata share of fees earned.

Biswap is known for low swap fees compared to many DEXs. As a trader, you pay a base swap fee on each trade; a portion of that fee goes to LPs as earnings, and other parts may fund platform mechanisms or buybacks. Because Biswap runs on the BNB Chain, you also pay network gas in BNB, which is typically lower than Ethereum gas.

• Trader takeaway: Expect low nominal swap fees and low gas costs, making small trades more economical than on higher-fee chains.

• LP takeaway: You earn fees proportional to your pool share plus any additional BSW farming incentives; however, returns depend on volume and impermanent loss.

Note: Fee structures and reward splits can change. For current details and exact fee percentages, check Biswap’s interface or the project documentation.

Liquidity pools are the backbone of Biswap. When you provide liquidity, you deposit two tokens into a pool and receive LP tokens. Pool liquidity determines slippage and trading volume capacity.

Important concepts:

• Total value locked (TVL): Measures the total assets in Biswap pools—higher TVL generally means deeper markets and lower slippage.

• Impermanent loss (IL): Occurs when token prices diverge after you deposit—LP earnings need to exceed IL for net profit.

• Incentives: Biswap often offers BSW rewards (farming) to offset IL and attract liquidity.

To track live metrics like TVL, volume, and pool performance, use on-chain explorers and analytics dashboards. For a concise project overview and metrics snapshot, see What is Biswap.

The BSW token is Biswap’s native token. Its primary utilities include:

• Governance: BSW holders can participate in protocol voting (proposal mechanics vary over time).

• Staking & farming: Stake BSW or LP tokens to earn additional BSW rewards.

• Fee discounts & referral benefits: Holding or staking BSW can grant fee reductions or unlock referral bonuses.

• Burns/buybacks: Some platforms use part of fees to buy back and burn tokens, reducing supply—check current BSW tokenomics for the exact mechanisms.

Practical example: You provide liquidity to a popular pool and stake the LP tokens in a farm. You receive trading fees (from swaps) and additional BSW farming rewards, which can compound returns but may also expose you to token price volatility.

• Pros

  • Low fees: Competitive swap fees and low BNB Chain gas costs.

  • Incentives: BSW rewards and staking options can boost yield.

  • Features: Swap, limit orders, farms, and staking in a single interface.

  • Speed: Fast confirmations on BNB Chain.

• Cons

  • Impermanent loss risk: LPs face asset divergence risks.

  • Centralization concerns: BNB Chain differs from Ethereum’s decentralization model—evaluate trust assumptions.

  • Smart contract risk: Bugs or exploits could threaten funds; always review audit status.

  • Token volatility: BSW price swings affect yield and staking returns.

1. Set up a wallet: Use MetaMask, Trust Wallet, or a Web3 wallet that supports BNB Chain.

2. Switch to BNB Chain: Add the BNB Chain network to your wallet (or use Binance Bridge to move assets).

3. Acquire BNB: You need BNB to pay gas and for trades. Purchase on an exchange and transfer to your wallet.

4. Connect to Biswap: Visit the Biswap interface and connect your wallet. (Always verify the URL before connecting.)

5. Swap or add liquidity: Swap tokens or deposit paired tokens to a liquidity pool and receive LP tokens.

6. Stake or farm: Stake LP tokens or BSW in farms or staking pools to earn rewards.

Actionable tip: Start with small amounts to learn slippage settings, approval approvals, and how fees are applied. Use impermanent-loss calculators to assess risk before depositing sizable positions.

Biswap is a smart-contract-based platform—so the main risks are smart contract bugs, rug pulls in specific pools, and impermanent loss. Best practices:

• Check audits: Review any available third-party audit reports on the Biswap site and community channels.

• Use reputable pools: Prefer well-known pairs with high TVL to reduce slippage and counterparty risks.

• Limit approvals: Approve only the amounts needed for a single swap or use wallet approval controls.

• Monitor positions: Track LP performance and harvest rewards periodically.

Consider Biswap if you want low-cost swaps, frequent trading with small sizes, or yield farming with token incentives on the BNB Chain. It may be a poor fit if you require maximum decentralization, are avoiding BNB Chain-specific risks, or need the deepest liquidity for very large trades where multi-chain aggregation is preferable.

For official documentation, token details, and the live exchange interface, visit the project site. Also follow community channels for updates and governance votes. If you prefer a concise project summary and live metrics, the CoinMarketCap project overview is helpful.

A: Biswap is a decentralized exchange powered by smart contracts, but it runs on BNB Chain—which has different decentralization characteristics than networks like Ethereum. You interact directly with contracts from your wallet, but always consider trust assumptions and check governance transparency.

A: You can earn rewards by providing liquidity to pools (earn swap fees + possible BSW farming incentives), staking BSW in staking pools, or participating in yield farms. Reward rates vary by pool and over time.

A: Main risks include impermanent loss for LPs, smart contract vulnerabilities, token price volatility, and platform governance changes. Use audited pools, limit approvals, and diversify to manage exposure.

A: Yes—Biswap supports standard Web3 wallet connections, so you can connect hardware wallets like Ledger via MetaMask for added security when interacting with contracts.

A: Check on-chain analytics dashboards and the project’s public stats. For a quick metrics snapshot and project summary, review the CoinMarketCap page titled What is Biswap.

Biswap is a decentralized exchange (DEX) built on the BNB Chain that uses automated market maker (AMM) pools, lower BNB-chain gas costs, and native token incentives to offer low fees and yield opportunities. This guide explains what Biswap is, how the DEX functions, how fees and liquidity work, and what the BSW token does—so you can decide whether to swap, provide liquidity, or stake.

At its core, Biswap is an AMM-style DEX where users trade token pairs through liquidity pools rather than order books. It runs on the BNB Chain (formerly BSC), which delivers faster and cheaper transactions versus networks like Ethereum. Biswap combines swaps, liquidity provision, farms, staking, and referral/discount mechanics with a native token (BSW) that powers rewards and governance.

• Type: Decentralized exchange (AMM) on BNB Chain

• Main functions: Token swaps, liquidity pools, yield farming, staking, limit orders

• Native token: BSW (used for rewards, staking, discounts, governance)

• Target user: Traders and yield-seeking DeFi users looking for low gas and low swap fees

Automated market maker (AMM): Biswap uses AMM pools where liquidity providers (LPs) deposit token pairs (for example, BNB/USDT). Prices are determined by the pool’s token ratios via the constant product formula (x * y = k). When traders swap, they change the ratio and pay a small fee; LPs earn a share of those fees proportional to their pool share.

Key mechanics:

• Liquidity pools: Provide capital to enable swaps and receive LP tokens representing your share.

• Swaps: Trade without counterparties; slippage depends on pool size and trade size.

• Farming & staking: Stake LP tokens or BSW to earn additional BSW rewards.

• Limit orders: Place price-targeted trades that execute when conditions match (useful for traders who prefer price control over instantaneous swaps).

If a BNB/USDT pool has equal USD value of both tokens and someone swaps a large USDT amount for BNB, the pool’s USDT balance goes up while BNB decreases, pushing the BNB price up. Traders pay the swap fee; LPs receive a pro rata share of fees earned.

Biswap is known for low swap fees compared to many DEXs. As a trader, you pay a base swap fee on each trade; a portion of that fee goes to LPs as earnings, and other parts may fund platform mechanisms or buybacks. Because Biswap runs on the BNB Chain, you also pay network gas in BNB, which is typically lower than Ethereum gas.

• Trader takeaway: Expect low nominal swap fees and low gas costs, making small trades more economical than on higher-fee chains.

• LP takeaway: You earn fees proportional to your pool share plus any additional BSW farming incentives; however, returns depend on volume and impermanent loss.

Note: Fee structures and reward splits can change. For current details and exact fee percentages, check Biswap’s interface or the project documentation.

Liquidity pools are the backbone of Biswap. When you provide liquidity, you deposit two tokens into a pool and receive LP tokens. Pool liquidity determines slippage and trading volume capacity.

Important concepts:

• Total value locked (TVL): Measures the total assets in Biswap pools—higher TVL generally means deeper markets and lower slippage.

• Impermanent loss (IL): Occurs when token prices diverge after you deposit—LP earnings need to exceed IL for net profit.

• Incentives: Biswap often offers BSW rewards (farming) to offset IL and attract liquidity.

To track live metrics like TVL, volume, and pool performance, use on-chain explorers and analytics dashboards. For a concise project overview and metrics snapshot, see What is Biswap.

The BSW token is Biswap’s native token. Its primary utilities include:

• Governance: BSW holders can participate in protocol voting (proposal mechanics vary over time).

• Staking & farming: Stake BSW or LP tokens to earn additional BSW rewards.

• Fee discounts & referral benefits: Holding or staking BSW can grant fee reductions or unlock referral bonuses.

• Burns/buybacks: Some platforms use part of fees to buy back and burn tokens, reducing supply—check current BSW tokenomics for the exact mechanisms.

Practical example: You provide liquidity to a popular pool and stake the LP tokens in a farm. You receive trading fees (from swaps) and additional BSW farming rewards, which can compound returns but may also expose you to token price volatility.

• Pros

  • Low fees: Competitive swap fees and low BNB Chain gas costs.

  • Incentives: BSW rewards and staking options can boost yield.

  • Features: Swap, limit orders, farms, and staking in a single interface.

  • Speed: Fast confirmations on BNB Chain.

• Cons

  • Impermanent loss risk: LPs face asset divergence risks.

  • Centralization concerns: BNB Chain differs from Ethereum’s decentralization model—evaluate trust assumptions.

  • Smart contract risk: Bugs or exploits could threaten funds; always review audit status.

  • Token volatility: BSW price swings affect yield and staking returns.

1. Set up a wallet: Use MetaMask, Trust Wallet, or a Web3 wallet that supports BNB Chain.

2. Switch to BNB Chain: Add the BNB Chain network to your wallet (or use Binance Bridge to move assets).

3. Acquire BNB: You need BNB to pay gas and for trades. Purchase on an exchange and transfer to your wallet.

4. Connect to Biswap: Visit the Biswap interface and connect your wallet. (Always verify the URL before connecting.)

5. Swap or add liquidity: Swap tokens or deposit paired tokens to a liquidity pool and receive LP tokens.

6. Stake or farm: Stake LP tokens or BSW in farms or staking pools to earn rewards.

Actionable tip: Start with small amounts to learn slippage settings, approval approvals, and how fees are applied. Use impermanent-loss calculators to assess risk before depositing sizable positions.

Biswap is a smart-contract-based platform—so the main risks are smart contract bugs, rug pulls in specific pools, and impermanent loss. Best practices:

• Check audits: Review any available third-party audit reports on the Biswap site and community channels.

• Use reputable pools: Prefer well-known pairs with high TVL to reduce slippage and counterparty risks.

• Limit approvals: Approve only the amounts needed for a single swap or use wallet approval controls.

• Monitor positions: Track LP performance and harvest rewards periodically.

Consider Biswap if you want low-cost swaps, frequent trading with small sizes, or yield farming with token incentives on the BNB Chain. It may be a poor fit if you require maximum decentralization, are avoiding BNB Chain-specific risks, or need the deepest liquidity for very large trades where multi-chain aggregation is preferable.

For official documentation, token details, and the live exchange interface, visit the project site. Also follow community channels for updates and governance votes. If you prefer a concise project summary and live metrics, the CoinMarketCap project overview is helpful.

A: Biswap is a decentralized exchange powered by smart contracts, but it runs on BNB Chain—which has different decentralization characteristics than networks like Ethereum. You interact directly with contracts from your wallet, but always consider trust assumptions and check governance transparency.

A: You can earn rewards by providing liquidity to pools (earn swap fees + possible BSW farming incentives), staking BSW in staking pools, or participating in yield farms. Reward rates vary by pool and over time.

A: Main risks include impermanent loss for LPs, smart contract vulnerabilities, token price volatility, and platform governance changes. Use audited pools, limit approvals, and diversify to manage exposure.

A: Yes—Biswap supports standard Web3 wallet connections, so you can connect hardware wallets like Ledger via MetaMask for added security when interacting with contracts.

A: Check on-chain analytics dashboards and the project’s public stats. For a quick metrics snapshot and project summary, review the CoinMarketCap page titled What is Biswap.