According to a tweet from BabydogeSwap.com LIVE, the total value locked (TVL) on BabyDogeSwap surpasses $18 million.
The data from the decentralized exchange reveals that the TVL on the BabyDogeSwap bypasses $18 million and at the time when the news is being filed, the Baby Doge Swap’s TVL is currently worth $18,287,096 ($18.28 million).
Facts About BabyDogeSwap
- BabyDogeSwap is a DEX launched last week to increase the project’s use case. Recall that the DEX I built on the Binance Smart Chain, making it easy for the users to perform token swaps for all Binance Smart Contract-based tokens which include BNB and BabyDoge.
- BabyDogeSwap is also designed to offer yield farming on BUSD/USDT pairs, with users entitled to receive up to 6,000% APY rewards for providing liquidity.
- The Decentralized exchange was audited by leading cryptocurrency security firm CERTIK as part of efforts to keep users safe from malefactors
- The team see that users pay meagre fees when using the platform so far the DEX is built to make token swaps and yield farming to be lessened and smart.
It is worth noting that even though transaction fees on the babyDoge platform are low, part of the fee is still allocated to buying and burning the BabyDogeCoin.
However, long before this time, the community have been beckoning the team to reduce the supply of the BabyDoge to enhance the price.
BabyDoge has a total supply of 420 quadrillion tokens, with a circulating supply of 160.9 quadrillions.
In the quest to reduce BabyDoge supply, there was a proposal voted in favour of by the community which says that the community would be allowed to burn a total of 50 Quadrillion worth $88 million.