The investment will aid Biswap’s continuous innovation and help grow the Binance Smart Chain ecosystem.
Biswap Receives Funding Boost
Binance disclosed the strategic funding in a blog post on October 20. The funding will help fast-track the growth of Biswap, which will ultimately lead to the expansion of the BSC ecosystem.
“Binance Labs has always been committed to supporting fast-executing, technical teams who have the potential to positively impact the crypto space, build decentralized web, and help the BSC ecosystem grow,” stated Nicole Zhang, Director of Binance Labs.
Biswap’s unique approach to DeFi and its referral incentives have attracted a growing userbase, helping to enhance DeFi adoption. Biswap’s disposition as a driver of adoption may be one of the things that caught Binance Labs’ eye:
“Biswap is one of the most innovative and popular projects on Binance Smart Chain, and this investment is in line with Binance Labs’ ongoing initiative to promote DeFi and blockchain infrastructure,” the Director of Binance Labs remarked.
The funding from Binance Labs will generate a synergy that will hopefully help the growth of Biswap, leading to new top-quality services and products, technology enhancement, and further worldwide expansion. The CEO of Biswap relished his platform’s good fortune:
“We are excited that Binance Labs has decided to cooperate with us on the growth of Biswap… the team will keep bringing innovations to the DeFi space.”
The investment by Binance Labs in Biswap is a fallout of the Most Valuable Builder (MVB) II program. MVB is a program set up by Binance with incentives that will stimulate developers and projects building on BSC. Biswap was one of the winning projects of MVB II. According to Binance, winning projects stand a chance to be considered by Binance for direct investment funding.
Biswap, as a decentralized exchange on the Binance Smart Chain, is growing in popularity due to its innovativeness. It introduced a first-of-its-kind 3-type referral scheme where users earn rewards whenever their referrals take part in farms, launchpools, or make swaps. Biswap charges 0.1% transaction fees which is one of the lowest in BSC.
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Source : bsc.news
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