BiSwap announces an adjustment to its Fee Return mechanism after a thorough analysis.
The BiSwap team announced to its community that a strategic alteration to its fee rebate feature will see a downward revision to reduce the number of $BSW in circulation. The decentralized exchange (DEX) decided to reduce the percentage of fee rebates after a thorough analysis.
The team announced via Twitter that this decision was made as an adjustment to cater to the growth of the platform. It also serves to give better value to $BSW holders. The announcement was generally well-received by its community. The majority of its community welcomes the decision as a mechanism to curb inflation in the long run.
“The Biswap team has decided to slightly decrease the Fee Return percentage on @Biswap_Dex. This will positively impact the BSW holders & value of the $BSW token,” said the team over Twitter.
BiSwap uses the Automated Market Maker (AMM) model that allows swapping of BEP-20 tokens in the Binance Smart Chain (BSC) network. Every swap will entitle the user to a fee return and the platform has allocated 100,000,000 $BSW as its fee rebate.
BiSwap is a relatively new DEX that was only launched approximately 5 months ago but has a sizeable amount in Total Value Locked (TVL). Its native token $BSW has seen massive volatility and reached an all-time high of $1.91 on August 21 before plummeting to $0.42. The adjustment to its rebate is a step to bring price stability to its token holders.
BiSwap is one of the top decentralized exchanges on Binance Smart Chain. Launched in May 2021, it was one of the first BSC DEXes to offer a very low transaction fee of 0.1%. BiSwap provides a convenient platform for the easy exchange of BSC tokens.
Find BiSwap at the following links:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.