WanSwap Token Burning
WanSwap is an Automated Market Maker (AMM) and a decentralized exchange that’s part of a new ecosystem that allows for trading, compounding and yield farming. WanSwap is not just another DEX. Using its proprietary Wanchain, the platform is able to provide functionalities that other DEXs fail to deliver.
WanSwap Services:
- Liquidity: Any one can become a liquidity provider and up to 0.3% of trade commissions, in line with their proportional contribution to the pool. Depositing tokens for the pool earn providers WSLP, which they can use to claim their staked tokens and the profits generated.
- Farming: For people who provide liquidity, an extra incentive is given for specific trading pairs by letting them farm WASP, the WanSwap native token.
- Dual farming on ZooKeeper: For some farming pairs there are dual farming rewards. Next to WASP you can earn ZOO, this can be done on ZooKeeper.
- Hive: As a decentralized platform, WanSwap offers a staking feature called the Hive. Any user can stake their WASP tokens on the Hive and earn WAN.
- Analytics: The analytics page gives an instant overview of the liquidity and trading data of the listed tokens on WanSwap, enabling traders to make better choices on swapping and selecting which pool they want to invest in.
- Voting: As a democratic decentralized platform, users holding the WASP token can take part in the development and expansion of the WanSwap platform. This includes swap options for new coins, token burns, adjustments in rewards etc.
- Cross Chain: Enabling the use of non-native WanSwap tokens, Cross Chain option lets users swap assets between the Wanchain and Ethereum.
- WanLend: There’s no need to buy or sell assets when money (or cryptos) are needed.
November 5, 2021 Wanswap burned $WASP token. All the protocol fees (0.05% fees of the tradings) were used for WASP token buyback & burned program. Up till now, the total number of 1,717,953 WASP were burned.
