Improving BURGER Reward Structure and Whitelisting Process
BurgerSwap is the first DeFi swap platform on Binance Smart Chain, building on the principles of Uniswap, but with reduced gas fees and and enhanced transaction speed. BurgerSwap aims to be the go-to DeFi platform for users to trade the lastest BEP20 tokens in a decentralized manner.
Why has Uniswap become the most popular DEX on Ethereum? There are a couple of simple reasons:
- Users can trade the most popular and newest assets without having to wait before any centralized exchange lists them
- Users can earn trading fees by providing liquidity to any pair on the DEX
- Users can earn UNI tokens by providing liquidity to selected pairs on the DEX
Instead of trying to invent the wheel again, BurgerSwap builds on the principles of Uniswap, but for Binance Smart Chain based assets. Adding decentralized and incentivized governance to the architecture of our platform.
Optimizing Rewards for Liquidity Providers on BURGER pairs
In our most recent article, we announced the maximum cap of 21,000,000 BURGER tokens as the first of a series of improvements aiming to increase sustainability to the BurgerSwap platform and to improve long term value for BURGER token holders.
Our devs have been working 24/7 and today another significant change has been implemented. Just like Uniswap, we are looking to optimize our incentive distribution across various user types on the platform. For this reason we have made a change to the distribution of trading fees and mining rewards to liquidity providers.
Starting today, the following rules apply:
- All liquidity providers on all trading pairs on BurgerSwap will earn a portion of the trading fees of the platform. The distribution ratio will continue to be determined by community vote.
- Liquidity providers on all BURGER trading pairs will share all mining rewards, adding value for BURGER token holders and LP’s.
Listing the Most Popular Binance Smart Chain Assets
The next improvement will be around the listing process for new tokens. Each BEP20 asset can list on BurgerSwap simply by adding liquidity. But only whitelisted BEP20 assets will be listed in the swap-list and be eligible to earn mining rewards (only the BURGER pairs) and transaction fee rewards (for all pairs).
Our goal is to provide our community the possibility to trade and provide liquidity for the most popular and newest BEP20 assets. Now, how will be determined which asset is popular and should be whitelisted on our platform? The answer is simple: through community vote!
Voting for which projects to whitelist will be implemented in the coming week, and will lead to assets with the most vibrant and active communities to likely be whitelisted on BurgerSwap. We are looking forward to this functionality and to making more assets available on our platform.
In the meantime we will have a more centralized method for whitelisting, where a commission will perform due diligence on the applying assets and whitelist the most interesting ones on the platform. Please note that this centralized application method is just a temporary solution to make sure we don’t miss out on good assets to list.
If you want to whitelist your asset or suggest assets to whitelist, please contact @theburger_king on Telegram. Please note that we will not ask for direct payments to list any assets.
- BurgerSwap announcement: https://medium.com/@bnburgerking/introducing-burgerswap-a-democratized-amm-on-binance-smart-chain-ac19287b5a2a
- BurgerSwap exchange: https://burgerswap.org/
- BURGER🍔 token contract: https://www.bscscan.com/token/0xAe9269f27437f0fcBC232d39Ec814844a51d6b8f
- Github: https://github.com/burgerswap-org/burgerswap-core
- Twitter: https://twitter.com/burger_swap
- Telegram: https://t.me/burgerswap
- Telegram Announcements: https://t.me/BurgerSwapAnn