October on Biswap - Time To Harvest the Multi Reward Pool
October ... Biswap ... October ... Harvest and Autumn! Biswap is the place to celebrate both the Harvest Festival and Halloween, with the best package of DeFi tools. It's more then a DEX, having direct peer-to-peer crypto trading, launchpools, NFT market and NFT staking, dual-earning pools and the farmers favorite ... the Multi-Reward Pool!
October is the best time to harvest the Multi-Reward Pool
All the Biswap DeFi farmers and traders enhanced their rewards based on staked BSW and trading volumes. Just remember this words of wisdom from PVM ... the OG DeFi farmer harvests the Biswap Multi-Reward Pool!
I started using it when it was first introduced, planting $BSW seeds in the Multi-Reward Pool fertile soil. The roots went deep into the BSC chain and the rewards started to grow as the crop grows after the rain. You usually harvest what you sow but the Biswap Multi-Reward Pool is special! I planted BSW only and I farmed 4 cryptocurrencies!
The Multi-Reward Pool is available Biswap that locked $BSW and had trading volume on the platform. One staked BSW will be activated for every $20 trading volume achieved in the 30 days following the stake. The locked BSW has a 60 days locking period, and a 10% fee for early withdrawal.
The Multi-Reward-Pool income depends on the user's trading volume on Biswap, with a ratio based on trading volume/BSW tokens. If the user doesn't reach the full trading volume income required by the staked BSW, the reward will be the exact percentage of trading volume achieved in the 30 days.
The mechanics behind the Multi-Reward Pool are powered by the Biswap innovative framework, and the TVL growth will bring positive benefits to the whole ecosystem. The number of stakers, traders and LP providers will record organic growth as a direct result of the Biswap trading fees addition in the rewards pool. Every trade will send 10% of the commission to the Biswap Earn features, including Multi-Reward Pool.
To take direct advantage of the new feature, I had to stake BSW and swap eligible trading pairs to activate the tokens. The dashboard helped me track the trading volume and active BSW, helping me to achieve the trading volume required to maximize my income.
But why I stayed focused on Biswap over the summer? Because Biswap is the best on Binance Smart Chain, with the best crypto opportunities. It has the 3-type referral system, the lowest exchange fee 0.1% in the Cryptoverse and a top NFT marketplace.
It's a cornucopia for DeFi farmers, Crypto explorers, day traders and also content creators. Biswap invites content creators and crypto influencers to trade, stake and create content about Biswap. If you have the skills and the network you could earn a share of the $5,000,000 in $BSW allocated to the Space Agents Program!
Join the Space Agents Program to showcase your skills and you could earn $BSW for creating content. Boost the audience and get up to 20% in BSW via the Multi-type Referral Program Options. There are $10,000 in $BSW shared each month!
There are $5,000,000 in $BSW tokens allocated for the campaign. You can become a Space Agent if you are you passionate about Biswap and have more than 5000 subscribers on your social media account.
October is about the Harvest Festival and Halloween!
I will break down the October Harvest Festival in weeks of activity, and expand on my journey across Double-Reward Pools and the Multi-Reward Pool. The innovative reward system implemented by the Biswap double-reward pools require the users to have at least 500 BSW staked in the Holders Pool. All pools have a limit of 1500 BSW staked, to keep farming fair and equal for everyone.
The Multi-Reward Pool was introduced at the end of the summer, and users were invited to stake BSW tokens and will have activate them through trading volume. The income growth was linked to the trading volume and the users earned Biswap tokens ($BSW), wrapped Binance Coin ($wBNB), Binance USD ($BUSD) and Betfury ($BFG). It's the best place to flex your muscles and work hard to earn big bags of crypto.
Week 1 - Getting Ready For The Harvest
The Holder Pool generated BSW at an accelerate rate, and the auto-compounding made the farming as efficient as the best John Deer tractor. I farmed BSW in 5 Double-Reward pools, adding TWT, EOS, ATOM, MSL and XRP in my portfolio. The weekly bounty reached 30 dollars, with the Ripple pool being the high-earner.
I like Ripple ($XRP) and I decided to hold what I farmed in the BSW+XRP pool, sending all to Binance. The transaction was quick and straight forward, as the 26.1 XRP reached my account in less than a minute.
The amount of BSW staked in the Multi-Reward Pool reached 300 tokens, which required a bigger amount of trading volume. It was a good opportunity to increase my BSW stash, and also improve my trading volume. I had 0.21 BNB available, and I bought more BSW based on the "go bigger or go home!" principle.
The APY in the Biswap Multi-Reward Pool was at 1392% and the rewards were piling up. My rewards reached $8 in BSW, wBNB, BUSD and BFG, while the active BSW was getting closer to the maximal value of locked tokens.
Week 2 - NEAR and LITECOIN growing and blooming
The ATOM and MLS pools ended, as all the rewards were claimed. New pools were added and I tapped into them immediately. The Harvest Festival brought NEAR and Litecoin double-earning pools.
NEAR Protocol (NEAR) is a blockchain DApp that aims to power the future open web and serves as a collective, a foundation, and a development platform. NEAR Protocol can be used to create new coins, applications, and industries without the need for a central authority to oversee the process.
Litecoin is a decentralized peer2peer cryptocurrency and open-source software project released under the MIT/X11 license. It was inspired by Bitcoin and shares a slightly modified Bitcoin codebase
The earnings started to pile-up day by day and I decided to keep all the farmed cryptos due to their huge potential of growth. NEAR, Litecoin, TWT and EOS have great utility and an important role in the Cryptoverse.
I decided to swap the farmed ATOM and MLS and boost my trading volume for the Multi-Reward Pool, earning a bigger slice of wBNB, BSW, BUSD and BFG. The trading pair was obviously with BSW, adding more and more tokens in my portfolio.
Nearly all of my 350 staked BSW were active, and the farming was enhanced by the 1669% APY. The total amount of wBNB, BSW, BUSD and BFG reached 14 USD and was growing at an accelerate rate.
Week 3 - Infusion from Binance and voting for Rewards Distribution Change
My 60 days subscription on Binance finished, and I had 217 BSW ready to boost the Biswap farming. I staked 204 tokens two months ago and I earned 12 more during the 60 days locked period. Was no point to keep them there for 2% APY so I sent them all to my Metamask Wallet and looked for the best pool.
The Betfury sponsorship ended and the APY dropped to "only" 620% after that. I must remind all DeFi farmers that the APR for staking stablecoins is between 2 and 8%, while banks offer under 1% for fiat deposits.
It's no better place to trade and earn then the Biswap Multi-Reward Pool! In this pool I earned four top cryptocurrencies and educated myself about crypto trading. I staked 50 BSW to round it up at 400 tokens, and the total amount of wBNB, BSW, BUSD and BFG reached 16 dollars.
October was also the first time when I participated in a Biswap community voting. Between 17th and 18th of October, the BSW holders voted for Rewards Distribution Changes.
The daily distribution in the NFT pool was 5,000 BSW and 2,500 USDT, allocated from the team funds. The proposal was to replace the USDT allocation with 10,000 BSW, to balance the budget for the bear market.
The changes in distribution will reduce BSW selling pressure and will add 1,500,000 BFG in the pool for 30 days. The new distribution model will increase the holders' possibilities to earn more BSW.
I had 5368 voting power and I use it to vote in favor of the distribution changes, and in favor of a more dynamic reward system. After I voted I checked the stats, and 1,222,090 votes where in favor of the changes and only 188,243 against. Over 86% of the holders voted pro-changes, including myself.
Week 4 - Ethereum and Celebrations
No more EOS and TWT, replaced with fresh ETH and wBNB pools. I personally think this are the best pools up-to-date, as we all need Binance Coin for transaction fees and Ethereum is the hottest crypto since The Merge!
I had to add add a big slice of $BSW in the Auto-BSW Pool, locking the tokens for 3 days but earning at 28% APY. This move was done as I reached the maximum 1500 tokens staked in the four Double-Reward Pools that are currently live.
I already miss farming BFG and noticed my active BSW dropped to 166 tokens. I have to increase my trading volume or my earnings will be reduced to a fraction of what I had most of October.
I set a 20 USD goal from the Biswap Multi-Reward Pool and will harvest the bounty when the target will be achieved. I forecast that this will happen close to Halloween, as the current rewards are are 18.50 USD.
October 2022 is the 17th month of Biswap activity! The stats are stellar, with over $50 billion Total Trading Volume, over 142,000 BSW Holders and 40,000,000 BSW burned. The community reached 603,000 members and I am proud to be one of the Biswappers!
Conclusion
Biswap brings freshness to DeFi, providing a wide range of tools for active and passive crypto income. All users can trade cryptocurrencies at the lowest fee, stake in Double-Reward Pools, Launchpools or the innovative Multi-Reward Pool. The community is vibrant and Biswap was rated by CoinMarketCap in the TOP 10 projects due to engagement rates.
The users are invited to bring constructive feedback on social media or in the local communities. Join me on Biswap and let's have the biggest Cryptoverse party!
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