FibSWAP DEx Announces a 145,641,076 Token Burn, Bringing the Total Supply of the FIBO Token down by 10%!
As you consider trading with valuable cryptocurrencies, FibSwap DEX is one of the safest options. Launched in 2021, FibSwap DEX operates on the Binance smart chain platform (BSC), utilizing the FibSwap smart algorithm. This multi-channel decentralized exchange platform allows users to swap assets immediately, safely, and seamlessly from one chain to another.
Easy Swap in 10 seconds
By using DEXs like Uniswap and PancakeSwap, the company aims to make the swapping process easier for users. Now swapping between Ethereum ERC20, Binance Smart Chain BEP20, Polygon, and Fantom takes 10 seconds without prior experience or comprehensive knowledge.
Gives back to its users
By charging an 8% tax fee, FibSwap also gives back to its users. The 4% fee goes back to the FibSwap holders, 2% goes to the developers and the marketers, 1% to locked liquidity, and 1% to a children’s charity.
According to FibSwap owner Fibonacci, FibSwap is loyal to its holders, which gives them ample opportunity to thrive exponentially, making them the most reliable DEXs in the crypto world.
$FIBO is the governance and utility token of the FibSwap DEX system, underpinned by numerous Binance wallets. However, it is not compulsory to use $FIBO to utilize the FibSwap DEX. Traders can use $FIBO tokens to finish asset swaps between the chains on the platform.
Apart from offering flexibility, $FIBO FibSwap DEX’s native token also ensures a low transaction fee, and the whole ecosystem is benefitted, alongside the growing number of FIBO token users.
The system charges a 0.5% transaction fee, which is then internally exchanged for FIBO tokens using the chart. The $FIBO token holders can further benefit from an upsurge in the charts and the token value. Moreover, the burning mechanism of the FIBO token decreases the token supply with an increase in the token value.
The black hole address, a public wallet, automatically accumulates tokens from the 4% reflections rooted in the FIBO token tax with every transaction and burns them, thereby benefiting the FIBO token holders by gradually increasing the price.
How to start with FibSWAP DEX Fibo token: To begin, purchase $FIBO, which will cover the fees. You can then choose the tokens you want to trade. Fees and internal accounting will be handled in $FIBO tokens.
Buring is the process of purposely making crypto tokens unusable. As a result, few tokens remain no longer in circulation. The tokens should be transmitted to a wallet address to accomplish this. Most importantly, no one has access to the place, where the burning takes place. The power of blockchain technology is reaped, to record the activity and maintain transparency.
First-ever FibSwap’s token burning occurred in July 2021
The first time 500 million unissued FIBO tokens were burned by the exchange was on July 26th, 2021. As a result, The total number of coins dropped from 10 billion to 9.5 billion, and the price of FIBO tokens jumped by 164% soon after the burning announcement. The FIBO token price, which was sold at $0.0012, increased to $0.0102 in August 2021.
The current update
FibSwap DEX has burned 854,358,924 tokens so far. As outlined in a recent statement, the company will burn 1,000,000,000 tokens by the end of today. It is, in fact, 10%of the overall supply of the tokens.
FibSwap is dedicated to all of its investors, promising to provide a secure environment for cryptocurrency trading. Not only did it reduce the overall swapping time to 10 seconds, but it has also resolved several other issues related to crypto token trading. High transaction costs, trust concerns, and technical difficulties are just a few of those issues. FibSwap’s goal is to bring revolutionary change to the crypto trading market by making it as simple as possible for all holders.