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BSCN
@BSCNews
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Joined November 2020
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ICPSwap is driving DeFi on the Internet Computer Protocol @ICPSwap is still the major DEX on the Internet Computer Protocol (@dfinity). As reported by DeFiLlama, the protocol accounts for about $3.2m to $3.3m of the blockchain's total $7.5m to $7.7m in DeFi TVL and captures all DEX volume. The $ICS token features an infinite burn mechanism, and the protocol uses all earnings to buy and burn tokens. Total burns currently stand at over 56.8 million ICS. Token owners also get ICP rewards. Recently, 2,652 $ICP from 40% of trading fees were distributed among 1,458 wallets. The amounts are small compared to other major chains, but ICPSwap rules its own niche.
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