1ST DEXTools Token Burn from aggregator Fees
Hi DEXTools Community, As we shared in a previous medium article, we decided to remove DEXTShare and move to a burn-it-all model, where we don’t increase the circulating supply sharing team’s tokens, and also we use the profit generated by our aggregator buying tokens from the market and burning it.
The D day has arrived
We are proud to share that the initiative was far more successful than expected, this month we bought more than 900k DEXT into the markets at Uniswap and Pancakeswap, and also we received more than 200k DEXT from subscriptions to the app. O
Our growth was especially big on the BSC side where the fees are lower and the performance of the aggregator is much better. The expectations for the next months are to continue growing and increasing at least to 2x of the current income, as the trading volume of DEFI keeps growing.
We burned 900k DEXT tokens in 2 transactions, reducing our total supply in that amount.
We expect to exceed our expectation of burning 5M per year in the next 6 months.
Adding Liquidity to Pancakeswap Pool
We have the main part of our liquidity at Uniswap at this moment, with a pool of over 6M liquidity. DEXTools
As we shared also in the previous medium we reserved part of the funds bought and received in subs to increase liquidity in Pancakeswap, a thing that was already done. We added 150BNB + 172k DEXT to the pool, almost doubling our current liquidity. DEXtools
Community Rewards and Admins
The rest of the remaining DEXT Tokens will be saved into the DEXT Force Community Chest and used for Contests or future rewards, also to reward people in the community that helps and supports the DEXTools growth.
This is all by now. See you at our Telegram group for any questions or feedback: https://t.me/DEXToolsCommunity