Organization Name – Biswap

Category – Banking & DeFi

About

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Biswap, based in London and live since 2021, once reported roughly $600 million in total value locked at its 2022 peak — worth holding that figure at arm’s length from where the project stands today.

No team member is named anywhere in the registry, consistent with the project’s own materials, which explicitly acknowledge anonymous-team opacity as a known limitation rather than hiding it. RMA™ status is Unverified across all seven pillars. VBTransparencyScore 6.1 at the 45.71st percentile, ranked 39th of 98 in Banking & DeFi. The $BSW token’s 24-hour market cap sits at… just $277,118.79 — essentially flat over the trailing 30 days, and a genuinely small figure set against that historic $600 million TVL peak.

X carries 285,627 certified followers. The achievement log shows real continued development — a V3 and multichain rollout in 2024, new multi-reward pools the same year, and a 2025 profit-share roadmap — though coverage located in this review was thin and duplicated, a single StealthEX price-prediction post appearing twice with no other source diversity. TVL captures activity flowing through a protocol; how a DEX’s fee-and-token design determines whether it captures the value it processes is the separate question that actually explains a gap this size between historic scale and current token value. Read More