Announcement: WingSwap Buyback and Burn Program
WingSwap is excited to announce our Buyback & Burn Program. Through the Buyback & Burn process, WingSwap has an arm to support deflationary control system and increases the value of $WIS in the long run as well as brings profits to holders.
Sources of the Fund
Below are the sources of the fund for WingSwap buyback & burn:
- 25% of the income from SHIP BOOSTER NFTs sale.
- 0.05% of transaction fee per every trade made on WingSwap.
We are going to use the fund to buy back $WIS tokens and then burn them monthly. This will continuously lower the supply, redistribute the value of the $WIS tokens to the remaining $WIS holders and push up $WIS price constantly.
Benefits of Buyback and Burn program
The stakeholders benefits from buyback-and-burn in four ways:
Firstly, buyback-and-burn programs support the growth and price stability of the token value once listed for secondary trading.
Secondly, the token will be more attractive to investors.
Thirdly, buyback-and-burn results in increased liquidity as the secondary market demand for trading the asset on exchanges will be higher. Increased liquidity in turn results in lower price volatility.
Fourthly, buyback-and-burn incentivizes long-term growth investors to HODL the $WIS token, which further adds value to the asset.
In a nutshell, we want our $WIS holders to benefit from the protocol, that is what we believe in and that is why we are doing this. Yet, it is not only WingSwap that showcases this philosophy.
Keep an eye on our monthly burn announcements on our social channels.
About Wing Swap
WingSwap is a decentralized exchange built on the Fantom Opera chain that allows platform members to provide liquidity and create a market for others to exchange their original tokens.
Apart from this, the platform is created with multiple unique features such an exchange, NFT marketplace where users can buy and trade NFTs. With this, WingSwap is set to change the narrative and redefine the DeFi industry.
We envision an ecosystem where fast, easy, and affordable decentralized finance products and services that meet the needs of users are delivered in a timely, responsible, and sustainable way.
Apart from this, we project a platform that will be the forerunner of all DeFi products and use cases in the nearest future and easily accessible assets with more use cases that will drive adoption, increase demand and value.