Wault Finance Continues to Lowers Emissions as Token Inflation Takes a Toll
Inflation Hits Wault Hard
Wault Finance has seen better days. Over the last week, Wault Finance’s $WEX token has experienced a severe plummet in value, falling 39% over last week, according to CoinGecko. Wault Finance’s Polygon token $WEXPOLY is also down roughly 38% during the previous seven days. Wault Finance is a decentralized exchange running on the Binance Smart Chain network. Although the last week has been especially hard on Wault Finance and frustrating for investors, the protocol looks ready to combat the protocol’s token inflation issue to drive the price of coins back up.
Wault Finance announced on July 2nd that it is reducing emissions on $WEXPOLY for the first by 2.5%. Reducing emissions means that a protocol, like Wault Finance, will reduce the number of tokens they produce to drive up the price of tokens long term.
The $WEX token has already been experiencing a reduction of emissions as well as massive token burns. As of now, Wault Finance for both their $WEX token and their $WEXPOLY token will experience a 2.5% reduction of emissions each week.
Some Wault Finance supporters seem thrilled about the continued efforts to battle inflation and help raise the price of the tokens. Twitter comments revealed that others remain skeptical and even say that 2.5% a week is not enough to battle against the current emission rate. As time goes on, it should be interesting to watch how Wault Finance continues to update its protocol to help improve the price action of its tokens.
What is Wault Finance?
Wault Finance is a Decentralized Finance (DeFi) platform that serves as a hub on Binance Smart Chain (BSC). Wault is open-source and focuses on making things as simple and convenient for consumers as possible. The team hopes to create a relaxed and comfortable interface that will make investing as hassle-free as possible. Wault Finance aims to make the benefits of DeFi accessible intuitively, saving investors and new users from the confusing interfaces, high fees, and unknown risks of other projects.
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.