IBullSwap Exchange
IBullSwap is a next evolution decentralized finance exchange built atop the Binance Smart Chain (BSC). It is one of the fastest growing decentralized applications of all time.In a few months, IBullSwap has become by far one of the most competitive DEXs on Binance Smart Chain, outshining some of the oldest platforms by demonstrating meteoric growth and adoption. Read below to find out what makes IBullSwap so special.
What is IBullSwap?
Standing among the most promising DEXs in BSC, IBullSwap has become a sort of revolution in the blockchain space over the past few months. This is all attributed to the amazing opportunities for growth that the platform gives to users, including incentivizing token earning for yield maximization. So far, the exchange has achieved up to $463,081.105 in total value locked (TVL), and growing.
The platform is structured to allow users to safely and securely trade Binance Coin (BNB) and multiple varieties of BEP-20 tokens without depending on centralized services or having to lose control over their private keys. As a decentralized exchange, all trades on IBullSwap are automatically executed through smart contracts. This completely eliminates risks associated with counterparties.
As a project, IBullSwap was conceived in December 2021 and went live several months later on April 15, 2022. Since then, the platform has achieved a very remarkable growth. This applies to the number of users, the liquidity of assets that are supported, and most importantly, the extent of features that are offered on the platform.
As the platform stands, IBullSwap exchange can be considered as a sustainable ecosystem of DeFi tools, all of which are built around the platform’s native utility token — IBULL.
What is IBULL?
IBULL is the native utility token of IBullSwap, and is used for a variety of purposes within the growing ecosystem. Among the key functions of the token include, but are not limited to yield farming (bullfarming), staking, participating in the iBullSwap Lottery (bull predict), and making and voting on governance proposals through the platform’s community governance portal.
How does IBullSwap work?
IBullSwap is a type of decentralized exchange known as an automated market maker (AMM). This essentially means that there are no order books, bid/ask system or limit/market orders.The IBullSwap protocol adds incentives to earning token safely and securely for IBull Token participants by introducing revenue sharing through the classic AMM model.
As such, users trading on the platform automatically draw liquidity from one or more liquidity pools, which will re-balance thereafter once the trade is completed. All trades that are performed on an Automated Market maker model, like IBullSwap, subtract liquidity from one side of the pool and add liquidity to the other. This changes the quantity of the assets in that particular pool together with their corresponding values.
The liquidity is contributed by users, otherwise termed liquidity providers (LPs), who add equal values of both sides of a liquidity pool (e.g., BNB/USDC) targeted at increasing the total amount of liquidity available. Users receive LP tokens representative of their share in that particular pool. The LP tokens have to be returned so that it will be possible to retrieve their fraction of the pool. In return for providing liquidity, liquidity providers receive a share of the transaction fees generated by any pools they contribute.
As a decentralized application (DApp), one can generally access IBullSwap exchange through a supported Web3 wallet, e.g., MetaMask, TrustWallet, or WalletConnect. Once the wallets are set up to support Binance Smart Chain, they can be used to interact with the IBullSwap smart contracts through the intuitive IBullSwap front-end.
What makes IBullSwap unique?
Built on Binance Smart Chain, IBullSwap leverages a number of its unique properties to provide an excellent trading experience to end-users. For one, users enjoy extremely low transaction fees as well as fast-paced confirmation times. This ensures that trades are performed quickly.
IBullSwap exchange is also safe from displacement attacks such as front-running, thereby making it safer for users compared to other automated market makers on blockchains that exhibit a sluggish block time.
Beyond this, IBullSwap also offers an extensive range of secondary features, configured to provide additional utility to IBULL holders. The most prominent of these currently include:
Bullfarms
IBullSwap allows users to earn an additional yield by staking supported liquidity provider (LP) tokens in one of its numerous bull farms. By participating in a bull farm, users earn an IBULL yield on their LP tokens. This is on top of the yields generated through transaction fees.
The exact APR varies between farms, but can be as high as several hundreds and even thousand percent. Though users will need to factor potential impermanent losses into their overall yield.
Bullpools
Bullpools are the equivalent of IBullSwap’s simple staking functionality. Through the platform’s bullpools, users can stake a variety of BEP-20 tokens to earn a yield — either in the form of IBULL or another reward token.
As with its bullfarms, the APY for each pool can vary considerably, and users will need to consider the changing value of their staked assets to calculate their true yield.
Community Governance on IBullSwap
IBullSwap is partially governed by the community. This means IBULL holders can use IBullSwap’s native voting portal to vote on governance proposals. Some of these will be tabled by the IBullSwap core team, whereas others are tabled by the community.