Bullswap Exchange (BVL)

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Bullswap Exchange (BVL) Review

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BullSwap smart contracts hold liquidity reserves of various tokens, and trades are fulfilled directly based on these reserves. Each BullSwap pair stores pooled reserves of two assets, provides liquidity for those, keeping the invariant that the product of the reserves can’t decrease. In BullSwap, any user can also offer liquidity and become a liquidity provider and earn rewards in the form of BullSwap token (BVL). 0.3% of all trading volume is distributed proportionally to all liquidity providers.

Problems and Solutions

Low liquidity Low trading volume and traffic led to poor liquidity. As a result, most users of these exchanges significantly affected by high trading costs that are caused by high withdrawal fees, high commission,
and a wide spread order book. Having a slight order book means high slippage when trading. Bullswap is an automated market maker, not an order book. We use on-chain reserves designed to make sure there is always liquidity available. Bullswap pairs every ERC20 tokens in a single transaction. Since everything is paired with eth there is plenty of liquidity, trading slippage can be
controlled.

Insecure system One of the increasing anxieties with the most exchanges is the repeat occurrences of hacks. There are thousands of exchanges that went down due to being hacked. In some cases, these hacks are so destructive that some exchanges are forced into liquidation. In one case the exchange owner dies or exits scam, funds of users worth millions will be locked forever since he held all the private keys.
This isn’t a possibility with a DeFi exchange like Bullswap. That is because there are no hot wallets to aim or the risk of an individual who can steal funds from user’s wallets. Since all users are in full keeping of their own keys, the funds are so always under their control. Bullswap is built to the highest security standards, penetration tested and audited. Plus, the decentralized nature makes Bullswap more secure.

Custody The risks of the most CeFi exchanges are related to custody. CeFi exchanges hold customer deposits and control the accumulation and payment of interest. Eventually, users need to trust the companies to keep their funds safe. Bullswap is created by a system of smart contracts hosted on a decentralized protocol. The smart contracts are encoded with a set of instructions with a single purpose of autonomously fulfilling exchange orders. This means that only the smart contracts and exchange’s users are involved in executing swaps. All Bullswap users can make trade requests without needing to move funds outside their wallets; the funds are only moved when the trades execute successfully on the exchange smart contracts.

Introduction

Bullswap is a decentralized exchange protocol launched on the Ethereum mainnet. There are no dependences required outside the Ethereum blockchain for it to operate. Bullswap contains two smart contracts: Exchange contract and factory contract. We have written smart contracts in both Solidity and Vyper. Anybody can access Bullswap using web3 and embed Bullswap functionalities within their apps.

Our exchange is fully decentralized and very easy to use. It’s a 100% on-chain market making, allowing the swap process between ERC20 tokens, as well as ETH to an ERC20 token, and vice-versa. Bullswap smart contracts hold liquidity reserves of various tokens, and trades are fulfilled directly based on these reserves. Each Bullswap pair stores pooled reserves of two assets, provides liquidity for those, keeping the invariant that the product of the reserves can’t decrease. Prices on Bullswap are set automatically using the automated market maker mechanism, which retains general reserves in relative balance. Reserves are pooled between a network of liquidity providers who supply the system with their tokens in Bullswap for a commensurate share of trading fees. The exchange contracts hold a reserve of ETH and their linked ERC20. This lets trades between the two based on related supply. Exchange contracts are connected by the registry, letting ERC20 to ERC20 trades directly between any tokens using ETH as an arbitrator. Bullswap is designed to become an easy-to-use exchange, gas efficiency, censorship resistance, and zero rent extraction. It is beneficial for traders and functions particularly well as a module of other
smart contracts which require guaranteed on-chain liquidity.

Essential Information

Started Date Unknown
End Date Unknown
Acceptable currencies USD, BTC, ETH
Bullswap Exchang Price $0.018188 USD
Token Name Bullswap Exchange
Token Symbol BVL
Bullswap Exchange ROI -3.03%
Website Link Home
Market Cap No Data
Circulating Supply No Data
Whitepaper Whitepaper
Market Rank #2816
hard cap $2,000,000
 Total supply 100,000,000 BVL
Team and Founders 10% of total supply

More about Bullswap Exchange (BVL):

Our Vision

We believe that blockchain technology is improving through a network of cryptocurrency exchanges. Bullswap team aims to be the innovator that’s leading the blockchain industry to the next generation with our decentralized exchange protocol. We will release the full potential of a DeFi exchange by our newest technologies. We have launched Bullswap in the mission to support cryptocurrency market revolution. We hope that through our cutting-edge technologies, we will be able to boost the liquidity of overall market. With your help, Bullswap will build a leading global DeFi exchange, powering the future of crypto finance.

Advantages

Security

We always care about security and decentralization. That’s why we built an open-source interface for Bullswap so the community can directly build upon it. We don’t use any third party wallet service to store user’s funds like thousands of exchanges out there. Normally the centralized exchange uses the concept of hot wallets, the hot wallets are more vulnerable to hacking. If the centralized exchange is hacked, then hackers can get access to all the private keys of of the users and ALL funds will be gone within a second! With Bullswap, only you have full control over your own funds. You just connect and disconnect your own wallet. Even if a user’s wallet gets hacked, it wouldn’t lead to a mass annihilation where all wallets are associated with the exchange would be at risk.

We are fully decentralized. We have numerous servers in numerous places. This added security to our platform. It is harder to hack into a system with numerous servers spread out worldwide than a centralized system with one central server.

Gas Efficiency

Bullswap use less gas than most of DeFi exchanges nowadays like Bancor, IDEX, EtherDelta, 0X, etc. It can accomplish ETH to ERC20 trades, ERC20 to ERC20 trades and ERC20 to ETH trades more efficiently than 0x, IDEX, EtherDelta. For ERC20 to ERC20 trades, Bullswap uses less gas than Bancor.

No Spread

Bullswap applies the same price calculation when conducting both sell and buy orders. This is contrary to traditional exchanges where the buy price is usually lower than the sell price. The gap between the sell and the buy price, known as the spread, is what allows traditional market maker to make a profit. As mentioned above, Bullswap does not require this profit in order to operate, and decentralized spreads may be presented in order to inspire adoption of the crypto space.

Swapping ERC20 Tokens

Bullswap trading pairs are run by separate smart contracts in the backend. Bullswap allows liquidity providers to generate pair contracts for any ERC-20 pairs. The conversation rate between ERC20 tokens is based on the relative sizes of their liquidity pools within the contract. They deposit an equal amount of fundamental ERC-20 tokens in return for pool tokens. Users identify input/output tokens as they want, also the amounts of the input tokens. Bullswap will calculate the amounts of output tokens the users will receive. When interacting with a sole exchange contract, a user can swap between a particular ERC20 token and ETH. Bullswap allows any user to directly swap any ERC20 token to another ERC20 token with a single transaction in the blink of an eye.

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Bullswap Exchange (BVL) Scam or Not?

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