Yesterday, Biswap enrolled a new exciting feature - Initial DEX Offerings (IDO). Similar to the Binance Launchpad, you can buy new tokens directly on Biswap. Here is how it works.
The new feature started yesterday with the IDO of Xpansion token $XPS, a decentralized 4x strategy P2E game and it has already been concluded after six hours.
In order to participate, you need to hold $BSW tokens, the native token of Biswap in a non-custodial wallet.
During the duration of the IDO event, you need to deposit your $BSW tokens either in the limited or in the unlimited option after approving the pools in your wallet. You can only deposit a limited amount of $BSW tokens in the limited pool but you can expect to receive more tokens in the percent correlation of the total invested tokens. It is possible to participate in both pools at the same time.
The newly issued tokens in both pools are distributed equally among the participants.
As the newly issued tokens in both pools are distributed equally among the participants you really need a bunch of $BSW tokens to enter one or both pools. The final distribution of the tokens from the IDO depends on the total amount of deposited funds in correlation to the funds deposited by you. As a result, you will not be able to buy tokens from the IDO with all the $BSW tokens that you have deposited and locked in one or both pools.
After the closure of the IDO event, you will be able to claim your unspent $BSW tokens together with the newly issued IDO tokens and both funds will be returned to your wallet.
You have to pay the network fees from the Binance Smart Chain to approve the pools, to deposit, and to claim but there will be no additional fees added on top.
The $XPS IDO yesterday was the first IDO on the new Biswap Launchpad. There will be more IDOs on Biswap in the future. If you don't want to miss them, I recommend following Biswap on their socials like Twitter.
Like on the Binance Launchpad, there is a time frame of only a few hours to subscribe to the IDO by depositing your $BSW tokens in the IDO pools.
Already three hours after the event, you were able to put your newly purchased tokens to work directly on Biswap. You can farm in the $XPS-$BUSD pool or stake your $XPS to earn $XPS and $BSW.
My Final Words
If you like the low transaction fees of the BSC network, decentralization, and hunting newly issued tokens on platforms like the Binance Launchpad, then I am sure that you will also love the new Biswap IDO Launchpad.
I am also interested to know if you have already used Biswap or if you are going to check it out. Please, let me know in the comments. 🤓
At the end of my post, I also like to remind you that my intention in this post is to raise your awareness of Biswap including the new IDO Launchpad feature. My intention is not to replace your own research.
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