It is the name I give to the original Bisq, in contrast to Bisq2 is which is the new application that will one day inherit the multisig trading protocol.

There is confusion around about Bisq1<>2, as people think Bisq2 is a newer replacement to Bisq(1), which isn't the case for now, as they use two different protocols.

Currently:

- Bisq1: larger traders, lower premium, BTC required for deposit

- Bisq2: smaller traders, higher premium, no BTC required for deposit, used to get first BTC to trade on Bisq1