We are very proud to announce that DEXTools just burned 3M token more (3% of our circulating supply) thanks to our great tokenomics and we are celebrating it with a gift to our community, the Burn Dashboard
The deflationary model
The utility token of our platform, $DEXT, has been described by many as one of the most deflationary and sustainable tokens in the Defi market (here and there). But how come?
This is 100% due to the continuous buybacks and burns made possible by the on-platform aggregator and the updated social fee services.
Given that the day-to-day operations are already funded by advertising and other activities, we decided to dedicate most of the other revenues to $DEXT token.
More precisely:
- 100% of the aggregator fees in any chain will be used to buyback and burn $DEXT.
- 100% of the update social fees paid in $DEXT (around 40% of the grand total) will be burnt.
For a more detailed overview you can check this analysis made by our friends of Blockchain Army.
The Burn DASHBOARD
Our community asked for it, and we delivered.
We are proud to announce that the Burn Dashboard is officially live thanks to our partner Blockchain Army too.
Starting today, you won’t need to scan dozens of different pages anymore to check Dextools revenues and burns — you’ll just need to open burn.dextools.io.
But let’s get into the details.
By giving a quick look at the dashboard you’ll immediately notice why $DEXT has one of the strongest tokenomics out there.
Let’s describe the metrics line by line.
In the first row, you have two graphs:
- The first one indicates the speed at which $DEXT is reducing supply, showing how the burn is performing over time.
- The second one shows the supply shrinkage: just in the last 30 days the circulating supply reduced by 102.2m to 101.5m!
In the second row, you have three panels showing in detail how much $DEXT has been burnt in the last day, week, and month, in the amount of $DEXT, percentage of supply, and estimated percentage of supply burnt per year.
The estimations range from 7.72% to 18.21% per year!
The third shows further information about $DEXT token, statistics, and projections. In particular, you can find:
- The number of unique token holders and last 24h growth (around 14.8k!)
- The price in $DEXT to update the social network in the Dextools platform, and the discount with respect to the $ETH price
- The total $DEXT burnt — and the estimated annual burn based on last month’s burn
- The estimation of buy pressure and resultant price if the burn continues at the last month’s speed
The last row, instead, gives a complete panoramic of the aggregator and social fee wallets, showing their change in the last 24h and how much eth/bnb/dext they hold.
Conclusions
The Burn Dashboard is a powerful tool, that allows our holders to be informed day by day on how Dextools burns are performing.
This is just one of the numerous news that Dextools has planned for 2023.
We’ll keep you posted on our official channels!
