Boss Swap Finance is a decentralized exchange that allows peer-to-peer transactions without a central authority. It has combined features of PantherSwap, ViperSwap, DefiKingdoms, and Apeswap with some original codes to create a unique platform. You will notice the clean interface and amazing graphics that make transactions easier and quicker. It also features their very own BOSS token ($BOSS), which is a revenue generating token that has built in burn and liquidity tax.
Here are some features of Boss Swap Finance that you must know before using it…
This is the page where you trade-off liquidity pool tokens that are of the same value. It allows you to exchange different tokens, but they need to have equal value.
Here, you can create a liquidity pool of tokens of the same value to allow users to swap off of liquidity. If you add your tokens to the raid, you will be given 0.2% of all trades that are made using your tokens. It may sound appealing, but know that depositing your tokens into the raid comes with its own risks, such as Impermeant Loss. Liquidity providers experience this loss when the prices of their deposited tokens change compared to what they were when they deposited them initially.
This is where you can create three kinds of liquidity pools by depositing your tokens. These pools are ONE & BUSD, BOSS & ONE, and BOSS & BUSD. You will get different rewards for depositing your tokens in the dungeon. If the platform has more liquidity, its users will be able to swap better.
If you don’t want to become a victim of impermeant loss, but still wish to earn passively by using your tokens, then you can lock your tokens in the horde for a certain period of time to support the network and earn 0.1% of all the transactions that are made via DEX.
The Spawning Pool
The spawning pool is for users who want to earn different rewards by staking their tokens. Both, the horde and the spawning pool allow users to protect themselves against the impermeant loss by using single-staking tokens.
The platform uses a dynamic system for withdrawals. Users who withdraw their assets from the same block will be asked to pay a 25% slashing fee. The fee amount will drop with time. A pool will charge a 0.1% withdrawal fee when it becomes inactive.
There is also a deposit fee to make non-Boss pairings easier and more flexible.
Breakdown of the Boss Treasuries
The crypto industry keeps on evolving and expanding. Boss Swap Finance uses Harmony Multisig to create treasuries to allow the platform to expand according to the changing demands.
- Boss Swap Finance will use 6% of the minted tokens for the technical development of the platform.
- Similarly, 6% of the minted tokens are planned to be used for marketing and management.
- The platform has introduced a Boss reward program. It will use 4% of the minted tokens to provide rewards in this program.
- 4% of minted tokens will be utilized for incentives.
Head over to https://www.bossswap.finance/ to find out more about them.