Transaction Fee Mining
Last updated
Last updated
Transaction fee mining, commonly referred to as “trans-fee mining” is the process of using transaction fees to reward the community. Unlike other exchange platforms, Biswap returns the transaction fees to the users in the form of its native token - BSW. In simple terms, when you make a swap on Biswap and pay a trading fee of 0.2%, up to 50% of the trading fee will be immediately returned to your “Fee Return” balance in BSW tokens.
The maximum fee return you can ever get is 50%. However, the amount of fee return greatly depends on the trading pair. Make sure you check all the information provided by Biswap before confirming your swap transaction.
For example: let’s say you decided to exchange 1 BNB for BUSD, and the fee return for that pair is 50%. During this exchange, a transaction fee of 0.2% will be charged. Once the transaction is complete, the system will immediately return the fee you paid in the form of BSW tokens. The number of BSW tokens sent to your “Fee Return” balance will be equivalent to the amount of the transaction fee paid in BNB (on the condition that the percentage of fee return for that pair is 50%).
The fee return feature is a pleasant bonus for Biswappers. Sometimes we need to carry out a maintenance procedure on this feature, which may cause it to be unavailable. If you have made an exchange during the maintenance, no refunds will be issued for the commissions you have spent. Thank you for your understanding!
The Biswap team allocated 30 million tokens for the trans-fee mining, but those tokens would be generated uniquely. To be more specific, tokens for trans-fee mining are generated only when a user makes a withdrawal from the “Fee Return” balance. Once the number of tokens that have been allocated for trans-fee mining reaches 30 million, this mechanism will be automatically disabled.
Biswap team reserves the right to manually disable transaction-fee mining in the future. The decision to turn off this function will be based on the future development of our platform.
