Wault Finance has announced that 100% of WSwap’s trading fees will move to buy back and burn WEX. Currently, the protocol will use approximately $32,000 to buy and burn WEX daily — 0.02% of the daily trading volume.
Introduction
Several protocols do all they can to burn their tokens to drive value to its users. WSwap will drive value to its users by making 100% of its trading fees accrue to holders of WEX.The protocol announced this new feature in a Tweet made on May 3rd, 2021.cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=96f1f04c5f4143bcb0f2e68c87d65feb&schema=twitter&url=https%3A//twitter.com/wault_finance/status/1389302035519057931&image=https%3A//abs.twimg.com/errors/logo46x38.png
To do this, Wault Swap will use the trading fees to buy back and burn WEX tokens daily. In essence, this process will ensure that the supply of WEX is reduced and its value is redistributed to the remaining WEX holders. Thus, WEX will constantly have a bidding pressure to counteract the inflationary yield incentives.
Buyback and Burn Process
WSwap has some of the lowest transaction fee’s on the Binance Smart Chain (BSC). Its trading fees of just 0.2% have helped it get to an extraordinary trading volume of $160 million per day in the first week of launch. Out of the 0.2% fees, 0.18% are distributed to Liquidity providing, while the rest — 0.02% are used as protocol fees. The protocol fees will then be used to buyback and burn the WEX token.
This means that the protocol will use approximately $32,000 to buy and burn WEX daily — 0.02% of the daily trading volume. Interestingly, this amounts to over $200,000 weekly and the trading volume continues to increase.
Therefore, holders of WEX tokens will not only swap tokens at very low fees, but the fees will also be heading right back into the pockets of LP holders and traders.
Wault Farming With 100% Profit
One unique trait about Wault farming is that it offers 100% profit. Unlike most platforms, farming on Wault Finance has no deposit fee, no withdrawal fee, and no performance fee. It is purely open to every user. So just like swapping, the benefits of the protocol will go to its users as they farm.
Source : bsc.news
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