As we commenced in our litepaper, we will use 0.025% of LavaSwap’s transaction volume to buy back and burn LAVA every month. The DEX of was officially launched at 8pm on February 6, 2021. In less than 20 days since our launch, our cumulative transaction volume exceeded…
$100 million US dollars! 💥💥💥
The total fees exceeded $300,000 US dollars. According to our litepaper, the amount of LAVA buy back this time is $25,412.73 (0.025% of the transaction volume).
Our previous blog announced that we will release all the details of LAVA token burn (amount and TX hash) on the 27th of each month. As of today, we have completed the first LAVA buyback! The amount was $25,412.73, and we have already burned a total of 21,211.78 LAVA tokens. 🔥
The hash link of the buyback transaction is as follows:
The black-hole address for the token burn is as follows:
0x1111111111111111111111111111111111111111
The link of LAVA token burn is as follows:
As of Feb 6 2021, the first day that the LavaSwap Liquidity pool started, in the past 20 days, we hit total volumes over $100,000,000! Check out this detailed chart in English and Chinese:
The total transaction fees were over $300,000 and its 0.025% was $25,412 as the graph indicated. In order to continue to provide benefits to LavaSwap LP and LAVA holders, we will announce more rules and detailed reports for token buy backs and burns for future.
Also be sure to join as a LAVA liquidity pool provider here and check out some HOT APYs: https://lavaswap.com/pool 🥵🥵🥵
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LAVA is a the first interoperable decentralized cross-chain swap protocol powered by Huobi Eco Chain. We believe that DeFi should be fun and easy to use for everybody.
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