What is the BurgerSwap Decentralized Finance Project built on the Binance Blockchain?
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Answer What is the BurgerSwap Decentralized Finance Project built on the Binance Blockchain?
The craze for decentralized finance continues as currencies and projects appear overnight and achieve high numbers in an exciting way that attracts more attention to it.
The developers continue their attempts to copy and compete with Uniswap by relying on the same idea of the project and its mechanism of work with a change in the name of the protocol to the name of a popular international food.
Exchange them, and they come. I don’t know who built this, but it actually lives # BSC.
Swap Burger
– CZ Binance (@cz_binance) September 12, 2020
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Recently, a project called BurgerSwap appeared, which derives its idea and work from Uniswap, but the difference between BurgerSwap from all its predecessors is its reliance on the new “Binance Smart Chain” blockchain.
BurgerSwap is an implementation of ERC-2917, started by Mr. Tony Carson, Mehmet Saber Kiraz, and Suleiman Kardas. The project aims to improve the Uniswap mechanism by changing the incentive and governance model.
The team supervising the project says that the basic code they have adopted in making the project is their own and not a split from a previous project or a copy of any other project.
Users can already invest and lend BURGER coins since the protocol has over 12 million BNB in liquidity, roughly $400 million.
It should be noted that the code audit of the project is carried out by the developer team of the project itself, and not by specialized third parties.
One of the key differences in the BurgerSwap project is that all cryptocurrencies will have BNB pairs instead of ETH pairs (due to the Binance Smart Chain).
Users must participate in BURGER Coins and participate in voting once a week to be eligible to claim their share of the fee.
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The transaction fee is set at 0.3%, of which 10% goes to the team.
The protocol does not contain a liquidity provider (LP coins) to avoid liquidity carryover risks.
BurgerSwap may have contributed to a BNB appreciation of about 30% in the past 48 hours as users are increasingly becoming a part of BurgerSwap’s yield farming.
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