As we outlined in our litepaper, we will use 0.025% of LavaSwap’s transaction volume to buy back and burn LAVA every month. According to our litepaper, the amount of LAVA buy back this time is $25,487.15 (0.025% of the transaction volume).
Our previous blog announced that we will release all the details of the LAVA token burn (amount and TX hash) on the 27th of each month. As of today, we have completed the second LAVA buyback! The amount was $25,487.15, and we have already burned a total of 71,590.28 LAVA tokens. 🔥
The hash link of the buyback transaction is as follows：
First buyback:
Second buyback:
https://hecoinfo.com/tx/0x26369ae55d9c2e540ede94cdaa7c159cd78b39a2f12f14b5157cde50b468d8fb
The black-hole address for the token burn is as follows:
0x1111111111111111111111111111111111111111
The link of LAVA token burn is as follows:
First burned:
https://hecoinfo.com/tx/0xcf1e40b8326e694914098c089035b7e9d8e6af8cb4ff51647c0a4bb8f6c0649f
Second burned:
https://hecoinfo.com/tx/0xd3869e4ca094d643e013c28d78f0772ded44c3ede3d81351a822afc2efcc5606
Check out this detailed chart in English and Chinese for date from Feb 27 to March 26,
The total transaction fees were $305,845.82 and its 0.025% was $254,871.51 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.
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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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