Trava Finance burned 250M $TRAVA in BSC Network to mint on Fantom
Trava held its first token burn this week, removing 250,000,000 $TRAVA tokens from the ecosystem on Binance Smart Chain network and minting 250,000,000 $TRAVA on Fantom Network.
Following these events, Trava is planning to deploy their lending pool system on Fantom Network at the early of November.
The total supply of $TRAVA tokens is 5 billion and the 250M tokens set to be burned represent 5% of the total supply. At the same time, 250M $TRAVA will be minted on Fantom Network to provide liquidity of $TRAVA tokens on FTM and ensure their tokenomics.
You can check the burn transaction at: https://bscscan.com/token/0x0391bE54E72F7e001f6BBc331777710b4f2999Ef
Moreover, within this week, they will open rTRAVA vault without locking period on BSC Network for rTRAVA holders. The APR will be announced in their official channels later.
Trava.Finance
Trava Finance is the world’s first decentralized marketplace for cross-chain lending. While existing approaches provide only one or a few lending pools with their own parameters such as borrow/supply interest rate, liquidation threshold, Loan-to-Value ratio, or a limited list of exchangeable cryptocurrencies, TRAVA offers a flexible mechanism in which users can create and manage their own lending pools to start a lending business. Trava is deployed on the Binance Smart Chain and allows for lending with BSC tokens first; we then enable cross-chain lending with various tokens on Ethereum and other blockchain networks.
