FAQ

What does BoostSwap do?

As the world's first decentralized leverage and NFT trading platform based on AMM initiated by overseas communities, BoostSwap can facilitate, fast, high liquidity and secure one click leverage and NFT trading by means of decentralization, and support users to buy or sell with one click leverage.

For the lender, you can deposit spare digital assets to earn interest. For the trader or borrower, you can borrow digital assets to carry out leverage trading. BoostSwap innovatively introduces Mdex, pancake and other external AMM to provide "unlimited liquidity" for traders in the way of Defi.

BoostSwap launches on Heco first and will launch on BSC, Okchain and Polkadot in the future. It integrates leverage trading, deposit to earn interest, staking, NFT trading ,IDO auction and other functions. Also, it has the characteristics of decentralization, DAO community autonomy, AMM automatic market making, cross chain and multi chain, and low gas fee.

Why do I need to use BoostSwap?

Boost swap focuses on serving traders /borrowers and depositors, allowing traders to leverage big wealth with small fulcrum, so that depositors can obtain income.

If you are a trader / borrower, you can set up a long or short position with 1-5 times leverage, swap and one click. When you need to close out the position, you only need to deduct the interest of the loan to obtain the income of leverage trading. If you are a depositor, you can deposit assets in the trust center and get higher income.

If you are a liquidator, you can participate in the liquidation and get a liquidation reward. All smart contracts are executed on the chain, and all users can become liquidators.

If you are an individual investor, hold the Bost token and enjoy the added value brought by the ecological development of boost swap.

Is BoostSwap only on the Heco chain?

There are no specific restrictions on the public chain of BoostSwap, which can realize multi chain and cross chain. At present, BoostSwap will first introduce Heco to reduce the threshold of users and participate in leveraged trading conveniently, quickly, with low gas cost and high security.

In the later stage, public chains such as BSC / okchain / Boca will be launched one after another, as well as self-developed public chains.

What are the advantages of BoostSwap?

The main features of BoostSwap are explained as follows:

1. One click leverage. Users who participate in boost swap leverage trading do not need to be as cumbersome as centralized exchange leverage trading. They only need to choose long and short according to their own needs. After clicking swap, they will jump to pancake for trading. With one click of swap, they can do long and short with one click of leverage. If they close their positions, they can click close them. Other procedures are executed on the smart contract chain, including borrowing, clearing, risk control, etc.

2. Unlimited liquidity. BoostSwap innovatively introduces external AMM automatic market makers (such as Pancakeswap, Mdex, etc.), which does not require users or project parties to add liquidity to ensure that the platform has sufficient trading liquidity and lower sliding point. Traders can freely choose the size of long or short positions.

3. Low gas cost. In order to reduce the transaction cost for users, before layer 2 of Ethreum launeced.BoostSwap did not choose the Ethernet chain with very high gas fee, and launched the BSC chain. Users only need about 1U BNB as gas fee for each leverage transaction. BoostSwap is free of transaction fee in the first month and will charge 0.2% transaction fee later .70% of it will be repurchased and destroy, 30% put into the treasury.

4. Convenient and safe. Compared with the traditional centralized exchange and order book trading, boost swap is more secure, free and convenient.

5. Cross chain and multi chain. Boost swap hopes to build a truly free, decentralized, convenient and efficient financial network for everyone. In order to achieve this goal, we will launch the BSC intelligent chain, and then cross the chain to support Heco, Tron, Okchain and other public chains. Our goal is to develop our own public chain, so that users can freely choose any platform to trade.

6.DAO community autonomy. BoostSwap is a decentralized project initiated by overseas communities, which is fair, open and transparent. It is all governed by the community chain. In the later stage, it will go online with voting governance function. It holds the Bost token and can put forward its own opinions on project optimization and major resolutions through proposals.

What is the maximum supply of Bost?

Bost issued a total of 1 billion pieces.

Is Bost token valuable?

Bost is the community asset of boost swap ecology. If you hold Bost, you can enjoy all the rights and interests of ecology. Including but not limited to: DAO governance, liquidity mining, gas fee mining, transaction mining, pledge mining, transaction fee discount, and other application scenarios of ecological development. At the same time, the Bost token has set up a repurchase and destruction mechanism.

Does Bost token be repurchased and burn?

In the first month when the main network of boost swap is online, all leveraged transactions are free of handling charge, and 0.2% of the handling charge will be charged in the future .In the later stage, Bost holders can vote to decide whether to change the handling charge rate.

BoostSwap will use 70% of the commission income to repurchase and burn and put 30% into the treasury for execution on the smart contract chain.

How to get BOST token?

In the early stage, you can apply to become an early community administrator and a community volunteer to obtain Bost. In the later stage, you can obtain Bost by participating in airdrop activities, pledge mining, etc., and by purchasing Bost in the CEX and DEX exchanges.

How do I get airdrops?

You need to participate in the air drop activities of Boostswap. The specific activities and details will be announced in channels such as telegram and twitter.

When can leverage be done?

It is expected that in the middle of July, the specific time will be announced in channels such as telegram and twitter.

What are the costs of leveraged trading?

Loan interest, transaction fee ,free in the first month and gas fee on the chain charged by BSC chain.

What deals are leveraged transactions supporting?

In the early stage, the mainstream digital assets, such as ETH/USDT, BTC/USDT, BNB/USDT, etc., will be supported in the early stage, and the transaction pairs will be enriched in succession.

What is the interest rate on borrowings and deposits?

BoostSwap uses the interest rate set by the supply and demand algorithm to establish the trust market. The trust pool of interest rate is calculated by the algorithm based on the change of the supply and demand of the loan and deposit of assets. The borrower and lender of the asset deliver directly through the smart contract chain, thus earning or paying floating interest rate.

Does leveraged trading need collateral?

No, as long as there are full assets in the wallet as security deposit.

Under what circumstances will it be liquidated?

When the margin is insufficient to repay the loan, it will be liquidated. The liquidation threshold and reward of different assets are different, and the subsequent announcement will be made in the liquidation section.

How secure is BoostSwap?

Security is our top priority. All our smart contract codes are publicly verifiable. We provide rewards for users who find vulnerabilities. In addition, we will invite professional audit companies to conduct security audit.

We remind users to guard against risks and carry out leveraged trading within their own risk preference and tolerance. Leverage trading is a complex tool, if used correctly, it can become a powerful hedging and income tool.

Smart contract is still an emerging technology. We remind users to be optimistic about innovative products and be cautious about their investment.

Is BoostSwap open source?

The boost swap contract will be published in GitHub, all of which are open source and searchable.