Automated Market Makers (AMM) are a type of decentralized exchange (DEX) protocol that uses a mathematical formula and game theory to price assets. This is unlike traditional exchange methods that use an order book system to pair buyers and sellers. For those who wish to learn more about AMM's check out the following article:
Cryptonomics: Automated Market Makers
BurgerSwap is a decentralized AMM on the Binance Smart Chain (BSC) network. Burgerswap is created for its community, and its growth is self-dependent on the community. Holders can easily change the structure of the BurgerSwap protocol through staking the community governance token, BURGER, allowing users to vote and initiate proposals. Burgerswap happens to be the first AMM application on the BSC network, launched on September 10th at 16:00 UTC.
The BurgerSwap bridge happens to be unique in the entire blockchain network because of its ability to swap coins from the Etherum Network (ERC-20 Standard) to the BSC (BEP-20 Standard) and vice-versa with significantly lower fees. This feature allows Ethereum users to seamlessly migrate to the BSC, where they will experience the fruits of low transaction fees and quick block speeds.
BurgerSwap was created to be a democratized decentralized exchange, which implies that governance is not optional but compulsory, and users make rules through voting. The developers of BurgerSwap believe that governance models in the DeFi space lack the presence of true democracy. Traditional models rely on coders to change contracts, but at BurgerSwap it is entirely determined by the community. Users/holders can vote to change the exchange parameters like trading fees, mining speed, staking rewards, and more. There's a clause that requires users to participate in governance voting to receive a specific allocation of voting incentives, this helps bootstrap the governance feature.
All tokens available on the BurgerSwap will have a BNB and a BURGER pair. The BURGER pair is used to generate liquidity for the BURGER token, and BNB is the native token for the BSC, making it commonly used. Since BurgerSwap is built on the BSC, it is a no-brainer to include this liquidity for BNB, as all AMM's do. To further incentivize BURGER liquidity, the protocol requires the burger pair to account for 1% of the asset's liquidity to be eligible for mining rewards. Overall this system acts similarly to most liquidity mining structures used to bootstrap initial liquidity and users.
Once a project has been mature enough and wishes to be listed, the exchange will apply a listing fee and begin its approval system where the community approves new projects through voting. This enables them to fish out scam projects and delist them quickly. All listing fees are added to a pool and shared with Burger holders that participate in voting at least once a week. Voting days are usually set out for a day by default but can be changed by voting for a higher number of days, capped at seven days.
The initial amount of burger tokens started with an infinite supply. However, changes were made after a community meeting; a conclusion was made to cap the maximum supply to 21,000,000 BURGER tokens.
Burger can only be mined through providing liquidity; each block produces 40 burger tokens, subject to change by community voting with a range of 120 BURGER token maximum and a minimum of 1 BURGER token per block. To place trades on certain BNB pairs, there needs to be a corresponding BURGER pair with at least 1% of the liquidity relative to the BNB pair. If the minimum liquidity criteria are not met, you'll need to provide liquidity to the BURGER pair to trade. The only liquidity pair that can mine BURGER is the BNB and BURGER pairs, others can mine other tokens but not BURGER. BurgerSwap is truly unique as there are no set-aside developers share; only 10% of transaction fees are sent to the team's account. This move by the team is to ensure the long-term success of the exchange.
One of the main issues of DeFi projects in the markets is the reward distribution mechanism; the mechanism resides in a smart contract that automates the process. Burgerswap introduces a new implementation of the ERC-2917 token standard to alleviate these concerns. This ERC-2917 improves the power of Uniswap using both incentive model and community governance systems of the network.
Overall this fork of Uniswap has allowed users to experience the benefits of a DEX AMM from the BSC. This move by the BurgerSwap team innovates on top of the traditional model while also bringing users the benefits of the BSC.
The entire project is self-funded; everyone involved in this project's development receives no salary for their efforts. Also, the developers announced that they have no intention of conducting any ICOs for the project. The team of developers gets a compensation fee that is 10% of all transaction fees.
This project happens to be the roadwork for AMMs on the BSC. BurgerSwap has helped draw the attention of other projects to the BSC network, where users can interact with Dapps using extremely cheap fees and seamless transaction times. Their democratic, decentralized model is top-notch and provides governance that can easily suit the community members just by voting.
In summary, BurgerSwap has strongholded its way in the BSC ecosystem and is one of the pioneers in the space. As the BSC and De-Fi continue to grow, BurgerSwap will continue to innovate on the back of the bull market.
For more information, or if you wish to stay up to date on the project, check out their media and social media pages:
The Binance Smart Chain (BSC) has gotten a lot more traction in the past couple of months. Many Ethereum projects have decided on either bridging or migrating to the BSC ecosystem. On top of this, lots of new projects are choosing the BSC, utilizing its fast and cheap transactions.
So let's dive into some prevalent BSC data, such as growth, traffic, and other network statistics. I'm also looking into some of the newly launched projects on the BSC.
First, of, a small rectification, the numbers in last week's article were not correct. Instead of 5,230,270 total addresses, the real number of unique addresses was 20,290,394 addresses. This means that the Week over Week (WoW) growth actual was 168.27% instead of the reported 1.65%!
The WoW growth was another astonishing 165.62% bringing the new total of unique addresses to a marvelous 53,896,1174 unique wallet addresses. The average increase was about 4,500,000 new unique wallet addresses per day! The Ethereum Network saw an increase in unique wallet addresses of about 160,000 per day, adding some 1,120,000 unique addresses in the last week
Although the BSC is handling well over 2,500,000 transactions per day, there is room for growth still. The Ethereum Network handled 1,200,000 transactions per day, slightly lower than in the last couple of weeks. Still, the network congestion remains very high, making transactions expensive.
Although the BSC handles much more transactions daily, it doesn't seem to be relieving the Ethereum Network much. The fact that many transactions are being handled means that many users have entered the De-Fi landscapes. Without both chains operating in harmony, its possible users would not have participated in DeFi.
The BSC network runs on an average 56% network utilization. This has surpassed last week's record high of 50.46%. The utilization is still far from capacity, so many more transactions are possible. Maybe we will never see full congestion on the BSC as I am sure Binance's engineers are already looking for scaling possibilities (if not, they should).
Transaction fees are still set at 10gwei for a transaction. This is always sufficient for a swift confirmation by the network of validators. As the block times are always 3 seconds, your confirmation will come within 3 to 4 blocks or about 10 seconds (sometimes faster).
The 21 BSC validators make sure your transactions are getting confirmed, fast and safe.
The Ethereum network relies on hundreds of thousands of miners to confirm Ethereum transactions, arguably making it more decentralized. There are currently 19 BSC validators online out of the total 31 validators on stand by; the validators verify the 28,800 daily blocks generated on the BSC.
Anyone can become a validator; if you want to become a validator or want more info, follow THIS link to the validator guideline by Binance. (Running a node requires some investment and technical insight)
PancakeSwap's $CAKE and Binance pegged $BUSD are at the usual top positions in this week's top 20 overview. We can also see a few newcomers, with $1INCH being the most prominent of the bunch. Further, ApeSwap's ($BANANA), VikingSwap ($VIKING), and StayBase ($SBS) have entered the top 20.
The JulSwap token $JULD and $JULB are still in the top 20 along with $AUTO, $BAKE, and $EGG, to name the most prominent tokens.
The list of new yield farms is huge for this week; most are clones of PancakeSwap with their own themes.
A quick overview:
Borshch Finance PancakeSwap clone
DuckSwap PancakeSwap clone
PoolToken PancakeSwap clone
Pasta Finance PancakeSwap clone
Nut Finance another PancakeSwap clone
Berry Data decentralized oracle, farming, data and more
SlavSwap PancakeSwap clone
AmmoSwap PancakeSwap clone
UFO Defi PancakeSwap clone
Hamster Defi you guessed it, another PancakeSwap clone
APOyield Yield farms and staking
HoneySwap Rugg-pulled, this is why you should always be careful where to invest your money.
Taco Finance PancakeSwap clone
Toad Farm and again a PancakeSwap clone
TripSwap PancakeSwap clone
Grape Swap Automated Market Maker (AMM) claim free Grapes
OpenDAO Create Stablecoins Backed by your Project Tokens, mint and stake
Kindcow decentralized farming and staking
Ubu Finance a platform that combines DEFI applications on the BSC
Slime Finance PancakeSwap clone
Nugget Defi Gold nugget themed PancakeSwap clone
ManySwap PancakeSwap clone
Stakd Finance Ambitious De-Fi project
KickStart PancakeSwap clone
ValueDefi Migrated and bridged from the Ethereum Network, a well-respected project with many products such as FAAS (farms as a service), yield farms, optimizers, and more.
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC, it is crucial to reference the following items, HERE and HERE.
None of our articles are advice, and all financial decisions should be made on your behalf or on behalf of a professional financial advisor.
It is no secret that I love the BSC. Seeing the growth numbers each week is outright awesome. The BSC's rapid growth only gets me more excited for the future. BSC growth has not seemed to slow, and the statistics display just that. Alongside that, great projects have bridged or migrated their activities over to the BSC. We users are thankful for the move, reflected by the record highs of users and transactions.
The future is bright; with more users come more projects, and the party is just getting started. My strategy is to find trustworthy projects, load my bags and start farming. Remember that even though a contract might be audited, crypto investments are never 100% safe. For this reason, I don't put in more money than I can afford to lose. Always do your own research and invest wisely.
See you next week.
Value DeFi initially launched on the Ethereum Mainnet in August 2020 and recently expanded to Binance Smart Chain (BSC) in late February 2021. Value DeFi has been at the forefront of creating a cross-chain DeFi ecosystem equipped with a set of high-tech products. The most prominent features being their own automated market maker (AMM) and decentralized exchange (DEX) aggregator (vSwap). The protocol doesnt stop their with integration of vaults (vSafe), custom liquidity solutions (vFarms/FaaS), Algorithmic Stablecoins (vTokens), lending, and more!
$VALUE is an ERC-20 token that has full utility only when staked in vGovernance (previously known as the Governance Vault). Users who deposit $VALUE can participate in governance decisions, which includes voting on strategies & their parameters, token emission schedules, and sharing the platform's profits. Users can also bridge their wrapped $VALUE to BSC and benefit from earning rewards on both platforms at the same time.
$vBSWAP is Value DeFi's new deflationary farming token on Binance Smart Chain (BSC). The token has a total supply of 100K that will be distributed over two years, and its emissions will reduce by 10% every four weeks. Additionally, all performance fees from vSafe and a percentage of vSwap & vPegSwap trading fees on BSC will be used to buyback vBSWAP and burn it, reducing the total supply overtime.
Additional information:
Contract address: 0x4f0ed527e8a95ecaa132af214dfd41f30b361600
vSwap is an AMM (decentralized exchange) that uses smart routing to provide its users with the best exchange ratio on the market. This offers users minimal slippage and price impact. Also, vSwap can launch new pools and swap most tokens with reduced liquidity by 'borrowing' from other DEX's such as Uniswap, SushiSwap, and PancakeSwap.
vPegSwap is a Solidity implementation of Curves StableSwap, and it allows for users to trade tightly pegged tokens with much less slippage than any other standard AMM.(https://www.curve.fi/stableswap-paper.pdf)
Our vSafes are high-tech yield aggregators that use multiple strategies and auto-compounding to provide investors with high returns on their deposited assets. In simpler terms, a vSafe will search for the best farming targets, deposit your investment, trade the deposited tokens' rewards, and re-invest automatically.
The auto-pilot nature of our vSafes makes it straightforward to use. Investors require no maintenance to increase their underlying asset size and value over time.
In line with our mission to make DeFi accessible for everyone, we created vFarm (FaaS) to allow for any project to deploy new customized liquidity pools. We have incorporated pairs with flexible ratios, customizable fees, and a token contract minter approval for the Liquidity Pool. This service is free, and it allows anyone to bootstrap their new project making it more accessible with a couple of clicks. In the spirit of making the platform self-service, the Value DeFi community is empowered to review new pools and decide whether or not the project in those pools are deemed trustworthy or not.
Our expansion to Binance Smart Chain was a strategic decision as we want to give our users the ability to choose their preferred platform when using our products. This expansion is essential for our project because it lowers gas fees. This allows our investors to save on gas fees, but it also enables our vSafes to use more sophisticated strategies. We were very fortunate to reach $250 million in TVL and $150 million in trading volume. This comes only a few days after our launch on BSC; something that was made possible because of our fantastic community.
FOLLOW VALUE DEFI:
Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
BurgerSwap is a decentralized Automated Market Maker (AMM) on the Binance Smart Chain (BSC) network
Automated Market Makers (AMM) are a type of decentralized exchange (DEX) protocol that uses a mathematical formula and game theory to price assets. This is unlike traditional exchange methods that use an order book system to pair buyers and sellers. For those who wish to learn more about AMM's check out the following article:
Cryptonomics: Automated Market Makers
BurgerSwap is a decentralized AMM on the Binance Smart Chain (BSC) network. Burgerswap is created for its community, and its growth is self-dependent on the community. Holders can easily change the structure of the BurgerSwap protocol through staking the community governance token, BURGER, allowing users to vote and initiate proposals. Burgerswap happens to be the first AMM application on the BSC network, launched on September 10th at 16:00 UTC.
The BurgerSwap bridge happens to be unique in the entire blockchain network because of its ability to swap coins from the Etherum Network (ERC-20 Standard) to the BSC (BEP-20 Standard) and vice-versa with significantly lower fees. This feature allows Ethereum users to seamlessly migrate to the BSC, where they will experience the fruits of low transaction fees and quick block speeds.
BurgerSwap was created to be a democratized decentralized exchange, which implies that governance is not optional but compulsory, and users make rules through voting. The developers of BurgerSwap believe that governance models in the DeFi space lack the presence of true democracy. Traditional models rely on coders to change contracts, but at BurgerSwap it is entirely determined by the community. Users/holders can vote to change the exchange parameters like trading fees, mining speed, staking rewards, and more. There's a clause that requires users to participate in governance voting to receive a specific allocation of voting incentives, this helps bootstrap the governance feature.
All tokens available on the BurgerSwap will have a BNB and a BURGER pair. The BURGER pair is used to generate liquidity for the BURGER token, and BNB is the native token for the BSC, making it commonly used. Since BurgerSwap is built on the BSC, it is a no-brainer to include this liquidity for BNB, as all AMM's do. To further incentivize BURGER liquidity, the protocol requires the burger pair to account for 1% of the asset's liquidity to be eligible for mining rewards. Overall this system acts similarly to most liquidity mining structures used to bootstrap initial liquidity and users.
Once a project has been mature enough and wishes to be listed, the exchange will apply a listing fee and begin its approval system where the community approves new projects through voting. This enables them to fish out scam projects and delist them quickly. All listing fees are added to a pool and shared with Burger holders that participate in voting at least once a week. Voting days are usually set out for a day by default but can be changed by voting for a higher number of days, capped at seven days.
The initial amount of burger tokens started with an infinite supply. However, changes were made after a community meeting; a conclusion was made to cap the maximum supply to 21,000,000 BURGER tokens.
Burger can only be mined through providing liquidity; each block produces 40 burger tokens, subject to change by community voting with a range of 120 BURGER token maximum and a minimum of 1 BURGER token per block. To place trades on certain BNB pairs, there needs to be a corresponding BURGER pair with at least 1% of the liquidity relative to the BNB pair. If the minimum liquidity criteria are not met, you'll need to provide liquidity to the BURGER pair to trade. The only liquidity pair that can mine BURGER is the BNB and BURGER pairs, others can mine other tokens but not BURGER. BurgerSwap is truly unique as there are no set-aside developers share; only 10% of transaction fees are sent to the team's account. This move by the team is to ensure the long-term success of the exchange.
One of the main issues of DeFi projects in the markets is the reward distribution mechanism; the mechanism resides in a smart contract that automates the process. Burgerswap introduces a new implementation of the ERC-2917 token standard to alleviate these concerns. This ERC-2917 improves the power of Uniswap using both incentive model and community governance systems of the network.
Overall this fork of Uniswap has allowed users to experience the benefits of a DEX AMM from the BSC. This move by the BurgerSwap team innovates on top of the traditional model while also bringing users the benefits of the BSC.
The entire project is self-funded; everyone involved in this project's development receives no salary for their efforts. Also, the developers announced that they have no intention of conducting any ICOs for the project. The team of developers gets a compensation fee that is 10% of all transaction fees.
This project happens to be the roadwork for AMMs on the BSC. BurgerSwap has helped draw the attention of other projects to the BSC network, where users can interact with Dapps using extremely cheap fees and seamless transaction times. Their democratic, decentralized model is top-notch and provides governance that can easily suit the community members just by voting.
In summary, BurgerSwap has strongholded its way in the BSC ecosystem and is one of the pioneers in the space. As the BSC and De-Fi continue to grow, BurgerSwap will continue to innovate on the back of the bull market.
For more information, or if you wish to stay up to date on the project, check out their media and social media pages:
