Lavaswap Token Burning
A fiery event has been done! Lavaswap, a blazing DeFi playground and cross-chain asset bridge is thrilled to announce that they have successfully burned 84% of their token supply.
- Total LAVA — 100 000 000
- LAVA Burnt — 84 092 803.06
- LAVA Remaining — 15 907 196.94
- Current Circulating LAVA Supply — 14 907 194.94
- LAVA Locked— 1 000 000
So far, there is only 14.9 million $LAVA token in circulation and 1 million has been locked. It will be used for strategic investors to increase the liquidity of the LAVA/USDT trading pair on Lavaswap. The iLAVA reward will continue until June 30th, 2021.
The burning of $LAVA involves the permanent removal of existing LAVA coins from circulation. The practice of burning is quite common in the industry and is very simple. Token burning is a deliberate action taken by the creators in order to remove a certain number of available tokens from circulation. There are several reasons why tokens are burned. This is usually done in order to cause deflation. As the number of tokens decreases, scarcity increases. A certain number of tokens will be removed from the LAVA ecosystem and destroyed in order to ensure a deflationary economy.
LavaSwap is launching a new economic model. LavaSwap V2 will be upgrading its DEX platform. LavaSwap plans to introduce strategic investors to change the current problem of “mine, withdraw and sell” in liquidity mining, and to maximize the benefits of LAVA long-term token holders and ecological participants.
ABOUT LAVASWAP
Lavaswap is an interoperable decentralized cross-chain swap protocol powered by Binance Smart Chain.
RESOURCES
Medium
