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Binance Liquid Swap

Binance Liquid Swap: BSwap Centralized ‘DeFi’

Written by LouiseElizabeth

21st November 2020

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Binance has now created its own centralized version of an automated market maker pool, named BSwap or Binance Liquid Swap. Set to rival the likes of UniSwap, their decentralized exchange allows users to token swap, plus provide liquidity in return for an annual percentage yield and get a share of the protocol’s trading fees.

What is Binance Liquid Swap? 

Binance Liquid Swap is an automated market maker (or AMM) pool product, the first of its kind in a centralized exchange. AMMs work by automating the trading process, so that no 2 traders ever have to wait to find each other. Instead, trades are executed via smart contracts, and private reserves are replaced by voluntary liquidity pools.  The benefits of using their AMM will give users lower fees, stable prices, and instant liquidity. Plus trading fees for the first month will be as low as 0.04%

Binance Liquid Swap

They’ve initially launched with 3 crypto assets for trading which are Binance USD (BUSD), Dai (DAI), and Tether (USDT). Users can deposit these and start earning interest (plus a cut of the transaction fees) in return for pooling your tokens. 

Binance exchange Referral ID Code

Binance, like many other centralized exchanges, are being forced to adopt DeFi tokens, or else risk being left behind. By providing the convenience of being a few clicks away from their centralized exchange, plus having the security and userbase of Binance, they hope to bring some of their users back to their platform and encourage more growth in the DeFi market.

Binance Referral ID Code

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