Announcing BSCswap V2, and the migration from DEGEN, BHC, EARTH, MOON, RABBIT to BSWAP token.
We are going to move our main BSCswap exchange contract into a new one with the following features developed in 30 days.
- New Wrapped BNB with lending on lending platforms ( aka Lent BNB — LBNB)
- New yUSD style wrapped USDT + BUSD stable coin issued from BSCswap Stable ( Curve Fork ) platform ( aka BAI Stablecoin — BAI)
- Enable whitelist for new pairs listing on BSCswap
- Community voting feature with BSCswap listings
- Reducing the trading fees from the current 0.3% to 0.05% for better slippage and any quant strategies, 0.05% fee will be distributed directly to BSWAP holders as a buyback and burn program.
- Decentralized Launchpool migrated from current DegenSwap LaunchField
- Security audits done with new exchange template code & LaunchField code
Also, we will offer a liquidity lock program to gather liquidity on the new exchange, difference with yield farmings on swaps is that it will be ended in the short term and the BSWAP token will not be given for free to liquidity providers. Like a traditional ICO, you will be able to buy them with 100% staked tokens reduced for farming BSWAP. And the gathered liquidity will remain locked forever to prevent the liquidity drop like the following.
There will be also no free airdrops with BSWAP token. Free money will be always ended in the losses of others.
Migration of DEGEN, BHC, EARTH, MOON, RABBIT to BSWAP
From now, we are announcing that we will deprecate support for DegenSwap in the near future, decentralized exchange with open opportunities to list any coin has resulted in many fake tokens to scam people and we will move the procedure to BSCswap V2 with the community vote listings.
However, it doesn’t mean that DegenSwap will close down since it will actually act as an early version of BSCswap like Uniswap V1. Also, the platform will still act for new projects to gather some attention.
1% of the BSWAP supply ( 1,000 BSWAP ) will be granted to help the migration of DEGEN, BHC, EARTH, MOON, and RABBIT token to BSWAP. 100% of the tokens staked for BSWAP will be burned and stakers will be able to receive the BSWAP token at the time of launching the BSCswap V2 platform.
Following will be the supply allocation of the Burn pool
250 BSWAP — DEGEN
240 BSWAP — MOON
250 BSWAP — EARTH
250 BSWAP — BHC
10 BSWAP — RABBIT
Burn pool will be opened on Saturday, October 10, 2020 3:00:00 PM UTC +0 time at https://pool.degenswap.io.
There will be more announcements about BSWAP soon, please stay tuned.
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