Friendly Market will be burning 100% of its shares of fees accrued from the DEX.
Fees, in the form of LP tokens, will be used to buy CSPR then burned.
Currently, a 0.3% fee is applied on every swap transaction. Of which, 0.25% go to liquidity providers while the remaining 0.05% goes to the Friendly Market treasury.
We are burning the full 0.05%. This means that 0.05% of every swap transaction on our DEX will be burnt. More volume equals more CSPR burned.
Burning CSPR will be done by sending the tokens to the DEAD account.
A page displaying total CSPR burned will be available soon.
CSPR burn will stop after REI launch. Instead, the 0.05% fees will be distributed evenly between superREI holders and the Friendly Market treasury.
About Friendly Market
Your gateway to decentralized finance on the Casper network giving you access to multiple products and one ecosystem.
Telegram announcements: https://t.me/friendlymarketann
Telegram public group: https://t.me/friendlymarketofficial