On 20th October, 2021, Binance Labs announced that it would be making a strategic funding to Biswap, which is a highly rated enterprise on the Binance Smart Chain network. Biswap hub engages in the decentralized exchange of blockchain based assets. Furthermore, it also acts as the underlying protocol for liquidity mining for other DeFi exchanges, that is, as an Automated Market Maker (AMM). It has won the Most Valuable Builder (MVB) Award from the Binance Smart Chain for its remarkable track record. This award is financed by the MVB II Initiative of the Binance Smart Chain, an international program which sponsors program developers and BUIDLers on the Binance Smart Chain.
Hence it was only a matter of time before Binance Labs, the funding team and venture capital provider of Binance, started funding Biswap. In fact, Biswap is the first decentralized exchange that offers three kinds of referral projects. The clients will be able to gain a portion of the earnings derived from their referee’s activities via three prongs- Farms, Launchpools and Swaps- all of which operate on the Binance Smart Chain Network.
According to Nicole Zhang, the director of Binance Labs, the ongoing popularity of Biswap and its innovative infrastructure has made it a right fit for Binance Labs’ sponsorship, which is currently focused on promoting Decentralized Finance and blockchain programs. It is in line with Binance Labs’ motto, which is to enable the progress of quick-launched, technical staff capable of making good changes to the blockchain sector, while augmenting the expansion of the Binance Smart Chain ecosystem.
The proposed strategic sponsorship will enable Biswap to speed up the expansion and further development of their Decentralized Exchange (DEX) hub. In turn, the BSC will allow relaxation on the terms and regulations of exchange on Biswap.