2021-10-26 16:35 |
BUSTA, a GameFi platform built on the Binance Smart Chain launched the first fully customizable decentralized exchange last week.
Two typical features are configurable transaction tax and automated fee functionality, which give projects the ability to choose specific swap fees and distribution for each token.
Invezz talks to Fran Strajnar, founder of BUSTA, about the solutions the platform offers.
Many CEXs don’t list tokens with transaction taxes as they have to consider that tax every time they process a withdrawal or transfer funds between wallets internally. In what way is BUSTA the solution to this, put in simple terms?
Fran Strajnar: BUSTA brings the benefits of transaction taxes to all listed tokens. Instead of that feature being on the token-level, which causes issues like listing on CEXs later, this benefit is now on the AMM level, leaving tokens free of this burden and enabling the minting of standard BEP-20 or ETC-20 tokens.
DEX is a very dynamic space, of which cutthroat competition is typical. How does BUSTA plan to stand out?
Strajnar: Having developed the first fully customizable AMM, there is little reason for token projects to list on conventional AMMs, where all the fees go to the AMM token. “We burn, you earn”.
Does BUSTA have any major competitors in the space?
Strajnar: Nobody has developed a customizable AMM yet. Our competitors are Sushi, Pancake and Uniswap, broadly speaking, and we are striving to win a market share through innovation. We’re only getting started.
BUSTA DEX is the first to market with a fully customizable router (AMM). Can you provide some details surrounding this?
Strajnar: With a conventional AMM, anybody can list any token and provide liquidity / earn some LP tokens from there. With BUSTA DEX, token projects can also list anything they want and provide liquidity, but they also get to choose how much the swap fee % is and what to do with that swap fee. We have some pre-configured solutions such as:
Auto burnAuto lock-liquidityAuto stream to project’s wallet/DAO addressBy listing on BUSTA DEX, tokens can also upgrade to become a partner token, which means all the games our iGaming solution develops become playable with that partner token. This brings instant utility to 3rd party tokens. There are no projects today that offer a turnkey and self-service way to increase utility and decrease supply for 3rd party tokens.
BUSTA DEX allows each token to choose its own swap fee and what that fee is used for from options like return to Liquidity Pools (LP), auto-burning of the token, and more. What does this mean to the average user?
Strajnar: The user experience is the same as other DEX’s. All it means to users is that they are incentivised to trade their favorite token on BUSTA DEX because all transactions there benefit the token they hold. There is also a baked-in affiliate program where they can earn a rebate on all trades they make on BUSTA DEX.
The post Q&A with Fran Strajnar, founder of BUSTA: the first fully customizable DEX appeared first on Invezz.
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