Sat. Feb 4th, 2023

The Bos Agora Foundation (Chairman Kim In-hwan) announced on the 28th that it has released BOASwap exclusively for BizNet.

Bos Agora recently launched Biznet, a business network that supports Ethereum-powered DApps (DApps) with an agreement algorithm based on the Proof of Authority (POA). Since the launch of Biznet, the ecosystem has been continuously expanding to revitalize Biznet by issuing Biznet-based NFTs and strengthening cooperation with various partners participating in Biznet ecosystems.

The functions provided by BoA Swap are divided into four main functions: My Asset, Swap, Pool, and Bridge.

In My Assets, the coins and tokens currently held by the user in the connected network are displayed. The displayed coins, tokens, and points are managed in a separate list with the ERC20 standard. In order for the tokens held by you to be displayed on your assets, you must have a Biznet network connected to your meta-mask wallet, and a trusted connection with BoA Swap must be established.

Swap is a function of exchanging one ERC20 token with another token. When a user selects an input token and an output token to specify an input amount, the BOASwap DEX Protocol automatically calculates the amount of output tokens the user will receive and swaps.

In particular, swaps do not use an Order Book to indicate liquidity or determine prices. BoA Swap uses an automated market maker (AMM) mechanism to provide instant feedback on exchange rates and slipages.

The pool represents a fluid pool for the boa swap dex protocol. In order for a pair of ERC20 tokens to be exchanged in a swap, someone must supply liquidity to the pool with an initial deposit of each token. In addition, the initial price is set according to the initial liquidity supply.

Bridge connects Ethereum mainnet and Biznet’s blockchain network and mediates transactions. Currently, it supports the transmission of Ethereum network-based BOA coins issued by Boss Agora and listed on Bithumb, Cucoin, and Gate IO exchanges to Biznet, which can be two-way pegging.

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