Launched in September 2020, Burger Swap is a democratized, decentralized automated market makers (AMMs) hosted on the Binance Smart Chain (BSC). It operates solely through the use of smart contracts and without the control of any centralized authorities. This cross-chain aggregator combines rates and prices from the leading DEXs and CEXs. It allows for versatility by combining the switch protocol which allows users to access the integrated CEXs, DEXs, and DeFi deals into a single platform. This allows users to access any digital asset or transact funds between any chains with the best prices on one platform.
The developers of Burger Swap use the ERC2917 EIP proposal which was published by their community of developers to create a swapping mechanism with democratic procedures that allows the entire BurgerSwap community to change system parameters through a transparent voting module.
BurgerSwap has its unique token called the BURGER token. The BURGER token offers loads of benefits like allowing users to create proposals or influence the adjustment of transaction fees, block rewards, and other system parameters of the Burger Swap exchange through governance and voting.
The BurgerSwap decentralized governance system was designed for perfection as it helps prevent control or limitation by any centralized entity and functions with the combined efforts of the community.
Who is the founder of BurgerSwap (BURGER)?
Technically, there is no acclaimed founder of BurgerSwap as it is a community project consisting of a group of developers; hence, this group of developers can be called the founders.
BurgerSwap was founded by Tony Carson, Dr. Mehmet Sabir Kiraz, and Dr. Suleyman Kardas.
Dr. Mehmet Sabir is a Program Leader of UG Cyber Security and Digital Forensics with immense knowledge in cryptography, Foundations of Cyber Security, Cyber Security Management, C Programming, and Multi-Service Network. He had a bachelor’s from Mathematics Department at Middle East Technical University in 2000 and started his M.Sc. studies at International Max Planck Research Institute for Computer Science, Germany which he completed in November 2003. He received his PhD. from the Computer Science department at Eindhoven Technical University, the Netherlands in March 2008.
Tony Carson and Dr. Suleyman Kardas are both influential personalities in the crypto space. They have separately developed profound projects that solve real-life problems.
Overall, the three partners aim to improve UniSwap’s implementation of ERC-2917 by altering the incentive and governance model. To do this, the team studied and arrived at a. argument that concludes BurgerSwap’s code oozes originality and is entirely not a fork or copy.
What is BurgerSwap (BURGER) used for?
Mining
BurgerSwap allows for mining and the mining incentives serve as the key growth of the platform.
Receive LP tokens
Users provide liquidity to a pool and in return receive liquidity provider (LP) tokens that represent the portion of a stake that a user has in the pool.
Rewards (usually in form of transaction fees)
To claim transaction fees, users are required to stake BURGER tokens and participate in governance every week; this proves can be performed easily with the Binance Smart Chain-MetaMask integration.
Voting and governance
With the BURGER token, the holders have bestowed the right to vote. Each time a new governance proposal is created, the total balance of BURGER tokens is transferred into a proposal contract. Also when a user participates in the voting of a proposal, they will receive a share of this reward pool at the end of the proposal.
In governance, users are eligible to vote to keep mining distribution fair through the increase or decrease in the speed by which rewards are issued to help promote healthy adoption and protocol growth.
Gaming
BurgerSwap is also positioning itself into the metaverse with a game project called the burger game.
What is the Unique Point of Burger Swap (BURGER)?
An automated market maker is a BurgerSwap has loads of unique properties and one of such is its entirety. Most Automated market makers run solely on Ethereum, an ecosystem known for its high lag time and expensive gas or transaction fees. Compared to the Binance Smart Chain, Ethereum is at a disadvantage as BSC offers more value and speed. BurgerSwap being the first Automated market maker on Binance Smart Chain is a unique feature.
Users can enjoy low transaction fees as BSC has an affordable fixed transaction fee. The block confirmation times are around 3 seconds per block, making it one of the fastest in the entire blockchain world. During its development, the developers combined 14 original and unique smart contracts to fully produce the platform. This is a smarter contract combined as compared to any AMM in any ecosystem. BurgerSwap shows its genuine authenticity that appeals to bother new and old users.
How many BurgerSwap (BURGER) coins are in circulation?
BurgerSwap has a circulating supply of 20.6 million BURGER tokens and a maximum supply of 120 million BURGER tokens.
How is the BurgerSwap Network secured?
The BurgerSwap uses the same security operating as the Binance Smart Chain. The Binance Smart Chain is known to have one of the most toughened security processes in the entire blockchain, making BurgerSwap equally secured. The Burger Swap team governance model was also built with security as its main prospect. In the Governance model, token pairs are added and metrics are tweaked, and a change in smart contract code is required for real change to take place, allowing token holders to vote to change parameters in the platform’s trading fees, mining speed, and staking rewards.
How do I buy BurgerSwap (BURGER)?
BurgerSwap is widely regarded as the UniSwap of the Binance Smart Chain platform. The BURGER token can be used for a wide range of uses like staking and rewards.
BURGER tokens can be easily purchased by the following steps.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy BURGER through your trading account.
Which Cryptocurrency Wallet Supports BurgerSwap (BURGER)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as BurgerSwap (BURGER). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their BURGER wallet because it offers a simple and interactive interface, making it easy for people to navigate its system.
