Tech

BabyDoge To Introduce Feature To Accelerate Burns on DeFi Swap: Details

11/19/2022
Bitcoin Ethereum News

According to a recent announcement, a new feature on BabyDogeSwap to estimate the number of tokens to be burned through each swap might soon launch. The new feature will help give an estimate of the amount of BabyDoge tokens that will be burned from swaps on the DEX.

Notably, the new feature will apply to all trading pairs on the BabyDogeSwap DEX, including USDT/BNB. This comes as Baby Doge Coin continues to work on accelerating burns. The team earlier hinted at plans to launch an official burn portal, allowing users to burn their BabyDoge.

This month, it called on the community to suggest ways it could incentivize users to burn more tokens. It presented ideas of an NFT or tiers of NFTs to be received for burning tokens.

Recently, holders voted almost unanimously to initiate monthly burns for Baby Doge Coin. The burns will help decrease the huge supply of Baby Doge Coin and are expected to boost prices in the long run.

Billions of BabyDoge tokens are already being sent to the project’s official dead wallet. According to BabyDogeBurn, in the past 24 hours, 4,078,924,733,000 BABYDOGE tokens have been burned. So far, 199,382,489,654,578,784 BABYDOGE tokens (47.472%) have been burned from the initial total supply of 420 quadrillions.

New milestones and listing

BabyDogeSwap has surpassed $30 million in total volume locked (TVL), achieving this milestone in less than a month since launch.

Also, BabyDogeSwap has officially been listed on BNB Chain’s dApp Bay. The listing, announced earlier in the week, is expected to give BNB Chain users more accessibility to BabyDogeSwap and allow them to rate it like all other decentralized applications (dApps) on the platform.

Meanwhile, the community continues to grow. The total number of BabyDoge holders is now 1,640,048 after the addition of new users.

Source: https://u.today/babydoge-to-introduce-feature-to-accelerate-burns-on-defi-swap-details