Biswap is a decentralized finance (DeFi) platform that allows users to swap, farm, and stake cryptocurrencies. It was founded in 2021 by a team of anonymous developers. The platform aims to provide a seamless and secure way for users to exchange and earn passive income through yield farming and liquidity provision. The name "Biswap" is derived from the words "Binance" and "Swap", indicating its focus on facilitating cryptocurrency swaps.
Biswap offers several benefits that set it apart from its direct competitors. One of the key advantages of using Biswap is its decentralized nature. As a decentralized exchange (DEX), Biswap operates on the blockchain, ensuring that users have full control over their funds and transactions. This eliminates the need for intermediaries or centralized authorities, providing users with enhanced security and privacy.
Another benefit of Biswap is its wide range of supported assets. Users can trade various cryptocurrencies and tokens on the platform, allowing for greater flexibility and access to different markets. Moreover, Biswap offers the ability to swap between different blockchains, enabling users to easily move assets across different ecosystems.
In terms of fees, Biswap stands out as well. Compared to its competitors, Biswap offers lower transaction fees, ensuring that users can trade and swap assets at a more affordable cost. This can be particularly advantageous for frequent traders or those dealing with larger volumes.
Furthermore, Biswap features an intuitive and user-friendly interface, making it accessible to both experienced traders and newcomers to the world of cryptocurrency. The platform also provides extensive liquidity, ensuring that users can execute trades quickly and efficiently.
Overall, Biswap's benefits of decentralization, asset variety, low fees, user-friendly interface, and high liquidity differentiate it from its direct competitors. These features contribute to an improved trading experience and make Biswap an attractive option for individuals seeking a reliable and efficient decentralized exchange.
Biswap is a decentralized exchange (DEX) that operates on the Binance Smart Chain (BSC), a blockchain specifically designed for smart contracts. As a DEX, Biswap allows users to trade cryptocurrencies directly from their wallets without the need for intermediaries.
At its core, Biswap utilizes automated market-making (AMM) technology to facilitate trades. AMMs use liquidity pools instead of order books, where users provide liquidity by depositing tokens into these pools. The liquidity providers are then rewarded with transaction fees.
Biswap employs the use of liquidity pools built on the BSC, and its native token is called BSWAP. Users can trade a variety of tokens, including both popular and emerging cryptocurrencies, utilizing the robust liquidity available within the Biswap ecosystem.
To execute a trade, users simply connect their wallets to the Biswap platform, select the tokens they wish to exchange, and specify the desired swap amount. Biswap then ensures that the swap is executed at the best available price, thanks to its connection to multiple liquidity sources.
The transactions on Biswap are powered by smart contracts, which provide transparency and security to the platform. These contracts are built on the BSC and ensure that trades are executed in a decentralized and trustless manner.
Overall, Biswap leverages the technology of the Binance Smart Chain and AMMs to provide users with a seamless and efficient decentralized trading experience. By connecting users to liquidity pools and utilizing smart contracts, Biswap brings the benefits of decentralization and transparency to the world of cryptocurrency trading.
DIA takes a comprehensive approach to data management when it comes to fetching trade data from DeFi and NFT exchanges. The process varies depending on the type of exchange that we are referring to.
For centralized exchanges like Coinbase, Kraken, and Binance, DIA utilizes scrapers that directly collect trades from exchange databases using Rest APIs or WebSocket APIs. These scrapers retrieve the data at varying frequencies, typically ranging from 1 to 7 seconds, depending on the exchange.
On the other hand, for decentralized exchanges, DIA retrieves data from various blockchains by subscribing to swap events in liquidity pools. This approach allows DIA to retrieve trading data directly from the blockchain itself, enhancing the accuracy of the data. Prominent decentralized exchange sources that DIA integrates with include Uniswap, curve.finance, and PancakeSwap.
When it comes to NFT marketplaces, DIA captures live trading data by retrieving it from the integrated marketplace's smart contracts. The retrieval period for this data typically ranges from 20 seconds to 1 minute. By directly accessing the NFT transactions happening in real-time, DIA ensures data precision from the broader NFT market, without relying on unreliable bid and offer data. Notable NFT integrated exchange sources that DIA includes are Blur, X2Y2, OpenSea, and TofuNFT.
Overall, DIA's comprehensive data management strategy enables them to provide highly accurate and customizable price feeds for DeFi and NFT exchanges. By leveraging different approaches depending on the type of exchange, DIA ensures that the data is sourced directly from the most reliable and relevant sources, enhancing the reliability and accuracy of the price feeds.
When computing trade data from Biswap to build price feed oracles, DIA follows a specific process depending on the type of exchange we are referring to (DeFi or NFT).
For DeFi exchanges, DIA begins by cleaning and detecting outliers in the trade data. This is crucial to ensure that the price estimation process is resilient against trades that deviate significantly from the current market price. Outliers can result from market manipulation, errors, or flash crashes on certain exchanges. By applying an Interquartile Range (IR) filter, DIA excludes data points and sets that lie outside an acceptable range relative to the interquartile range. Only trades falling into the middle quartiles move forward into further processing.
Next, DIA applies price determination methodologies to calculate the final price. One example is the Volume Weighted Average Price (VWAP) methodology, which takes into account the different volumes of trades. Another example is the Moving Average with Interquartile Range Filter (MAIR) methodology, where trades collected within a specific time range are ordered by timestamp and weighted against volume to determine the final price.
On the other hand, for NFT collections on Biswap, DIA uses a different approach. Firstly, the on-chain trade data is processed through cleansing filters to exclude outliers and manipulation techniques. Afterwards, a pricing methodology is applied to determine the floor price of the NFT collection. The simplest methodology is the Floor Price, which provides the lowest sale price recorded on the blockchain within a given time window. However, this methodology can be manipulated by malicious market actors, so DIA offers more advanced methodologies such as the Moving Average of Floor Price, which returns the moving average of the collection's floor price.
It's important to note that market manipulation techniques like wash trading and sweeping the floor can impact the floor price, but DIA's filtering mechanisms aim to produce more market-representative prices.
These processes allow DIA to build price oracles using Biswap trade data and provide accurate price feed information for cryptocurrencies, NFTs, and other assets.
Instead of distributing pre-calculated data feeds, DIA covers the whole data journey from individual trade collection, and computation to the last mile of the feed delivery.