FibSwap Burns 5% Of Total Supply

2 min readApr 27, 2022

FibSwap have successfully implemented their first token burn reducing their total supply from 10 Billion to 9.5 Billion.

Why are we burning tokens?

Token burning is a deflationary mechanism that benefits the holders of the FibSwap token. It is an added incentive for investors to keep a hold of their tokens whilst the team works on the project in the background.

Token burns reduce the overall supply of tokens and add to the scarcity of the $FIBO token. It also helps to sustain a healthy and positive development of the project, which balances the value of each token and its use within the platform.

How many tokens will be burned?

We have burned a total of 500 million FIBO tokens from the total supply.

Transaction ID 1:

Transaction ID 2:

The new total supply of $FIBO Tokens is now: 9,500,000,000

When will the next token burn take place?

We will update you when the next token burn is to take place. Please join our telegram group and announcement channel for more details

We always appreciate the amazing support of the entire community and we will continue our efforts to bring more exciting news to you.

About FibSwap

FibSwap is an Interoperable Multi-chain Bridging System where holders of tokens can swap tokens from one chain to tokens on another chain. This is done with the click of a button and will greatly enhance the DeFi space by allowing multiple chains to cross swap their tokens.

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FibSwap — A New Type of DEX where you can swap and ERC20 token with a BEP20 Token with the click of a button.