Bitberry Swap

Bitberry Finance's decentralized trading platform on Ethereum network hard forked from Uniswap

Please note that Bitberry Swap is a hard-forked decentralized exchange from Uniswap. The content on this document may contain articles from Uniswap.

Overview

Bitberry Swap is a decentralized trading platform, which uses the popular Automated Market Maker(a.k.a. AMM) mechanism represented by Uniswap with referral farming reward provided to the liquidity providers and platform users.

The principle of the decentralized exchange is to use the Constant Product Market Maker (a.k.a. CFMM) model to form a trading platform and to determine the price range of the two tokens based on the liquidity provided (available quantity of each token available in the market pool) through the definite product function X∗Y=K. Since the relative prices of the two tokens in a transaction pool are changed by trading, the difference between the token price in the trading pool and the external price will create opportunities for arbitrage. This mechanism ensures that the Token price is always in line with the market settlement price.

Functions of Bitberry Swap

1. Swap

Users are allowed to exchange any ERC-20 Tokens into another ERC-20 Token (including Ethereum) through the transaction pool. However, liquidity has to be provided in the transaction pool in order to trade the tokens. 0.3% transaction fee is applied to every transaction. The LPs(liquidity providers) will receive 0.25% of the transaction fee and 0.05% will be transferred to the DEV account. 50% of the transaction fee collected by the team will be used for the buyback of the BBS token every 6 months.

2. Providing/Removing Liquidity

Users can provide two ERC-20 tokens of equal value in the transaction pair into the swap liquidity pool and obtain the corresponding LP Tokens. If the liquidity pool is not already created, the first liquidity provider can set the initial value of the two ERC-20 tokens that are provided. The LP Token represents the redemption voucher of the assets added by the user in the liquidity pool, allowing users to redeem their assets at any time. Nevertheless, as the transactions are made from Bitberry Swap, the redeemed assets may be different from the beginning.

3. Referral & Level Pool Farming

Similar to the well-known decentralized exchange Sushiswap, the liquidity providers of Bitberry Swap would be able to farm additional rewards of BitberrySwap Token(BBS) by staking their LP token. Bitberry Swap offers referral and level pool farming. In order to participate in referral & level pool farming, the users must have both BBR & fBBR tokens. Referral & Level Pool Farming will offer higher APY than the regular pool and liquidity pool related to BBS token.

4. Normal Farming

The users can participate in farming BitberrySwap Token(BBS) although they do not possess any fBBR & BBR token. Normal farming offers various LP pools to farm BBS tokens, which is similar to current farming pools offered by various DeFi exchanges. The users can provide LPs to Bitberryswap such as USDT, USDC, ETH, etc. and stake LP tokens to Normal Farming to earn BBS tokens.

For more information, please refer to Products of Bitberry Finance