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ApeSwap Burns 18% of $BANANA Supply

The platform is working very hard to make sure that the rate at which tokens are made doesn’t keep going up.

Inflation? Only for the Dollar

There are more than 22 million $BANANA left in the multi-chain DEX ApeSwap. That’s about 18 percent of the tokens.

During a tweet on February 18, the team said that the platform had a lot of great statistics about burning. Banana will reward users who add liquidity to the DEX and stake their tokens in the yield farms. ApeSwap has a lot of ways to burn $BANANA and keep inflation in check, and it wants to become deflationary in the long run.

“While today’s post was just a recap on all the burns we’ve done thus far, we definitely pride ourselves in having one of (if not the) highest “effective” burn rate across all DEXs! Effective meaning we only consider token mechanics that are clawing back and burning emitted supply (not “dev wallet”) BANANA,” ApeSwap´s founder Obie Dobo commented to BSC News.

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The DEX is also adding new features to the platform in order to keep getting more people to use it. There are already about 20,000 people who use the platform every day. The new Lending Network was launched on February 7. Roadmap: In the next few weeks, there will be a partnership with MOR and stage 2 of the transformation of the UI. The Treasury Bills will be released in March, as well.

What is ApeSwap?

ApeSwap is one of the best DEXs because it started on the BNB Chain. This gives users the best trading experience. An automated market maker called ApeSwap makes trades for you. It is a decentralized exchange, yield farming, staking, and an automated market maker all in one place (AMM). In order to get BANANA tokens, ApeSwap users should participate in its liquidity pool offerings through yield farming. This is how they can get them. What’s more, the tokens you earn can be used to stake and earn more tokens, as well as unlock a lot of extra features.

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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