Wault Swap Revamps Burn Process, Allocating 100% of Protocol Fees to WEX Holders

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.

By
Utulu Hope
on
May 5, 2021
Category:
BSC News

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.

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. 


About Wault Finance 

Source

Wault Finance is a decentralized finance hub that aims at connecting all decentralized finance (DeFi) use-case in one simple ecosystem on BSC. The platform believes that DeFi benefits should be made available to the masses intuitively — avoiding expensive fees, disturbing interfaces, and centralized decision-making of different platforms. With this in mind, the platform has been created with unique features that will increase the yield of its users.


Tags:
No items found.
Utulu Hope

UC Hope is a passionate fan of crypto who could weave the latest event into sparks of inspiration and information. He leaves no stone unturned to get to the core of a story. Aside from writing, he spends his hours poring over algorithms and protocols, preparing for a future career as a computer programmer.

Text Link

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.