Cryptomustar
Wednesday, May 18, 2022
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
Cryptomustar
No Result
View All Result
Home Press Release

BurgerSwap Introduces V2 Protocol With New Burning Functionality

by admin
September 22, 2020
in Press Release
0
BurgerSwap Introduces V2 Protocol With New Burning Functionality
0
SHARES
9
VIEWS
Share on FacebookShare on Twitter

BurgerSwap is an open-sourced democratized automated market maker (AMM) that focuses on decentralization. The protocol hit the DeFi space by storm, reaching a liquidity of $400M with the staking of 12 million BNB tokens in ​​just one day. 

The platform launched on September 10th at 16:00 PM UTC and is already hailed as the very first Uniswap-like application to launch on Binance Smart Chain (BSC). By leveraging BSC, BurgerSwap benefits from faster speeds and lower trading fees compared to similar ETH-based DeFi projects.  

RELATED POSTS

LetsExchange Acquires Crypto Aggregator Alligat0r…

ElonCoke (ELNCO) Announces Listing on PancakeSwap and Upcoming P2E Game

The BurgerSwap team sees BSC as having the potential to be one of the top Proof of Stake (PoS) ecosystems. Thus, they have applied for Binance’s $100 million DeFi and CeFi Accelerator Fund to foster the BurgerSwap AMM and ecosystem expansion.

BurgerSwap V2 Can List bTokens 

On Sep 22, the Burgerswap team unveiled V2 of its protocol that introduced a Burn Mechanism where a percentage of the BURGER tokens converted from trading fees will be burned forever. 

Under BurgerSwap V2, traders will also be able to swap ETH and BSC-based assets via a unique custom built cross-chain BEP20 bridge. 

The bridge facilitates the conversion of any ERC20 token to a wrapped bToken issued on BSC. This wrapped token can then be listed on BurgerSwap to trade and provide liquidity. 

Burgerswap’s team is currently working on tutorials for how to list bTokens and interact with other important features on the BurgerSwap platform. 

LP’s Get More Control Over their Assets

Another hot feature integrated into the V2 protocol is an enhanced ability for LP’s to redeem their rewards at any given time, creating instant liquidity without the need to remove liquidity.

BurgerSwap V2 also offers liquidity providers more control over their assets by allowing them to choose the currency they want to receive their rewards. LP’s can currently receive rewards in BURGER, BNB and USDT.

Since BurgerSwap doesn’t have an LP token, it can implement even more unique elements. For instance, projects on the protocol can opt to reward liquidity providers on their token pairs with their own project token or any other token. 

The new BurgerSwap protocol introduces a new default distribution setting for staked rewards. Under V2, 40% of the rewards will be allocated to liquidity providers on the platform, while 30% of the rewards will go to governance/voting participants. The remaining 30% of rewards are burned forever. 

User Interface (UI) Improvements

BurgerSwap V2 is built on BSC, and so all tokens will have BNB pairs. Each asset is also required to have a BURGER pair, accounting for a minimum of 1% of the asset’s liquidity to be eligible for mining rewards. 

The protocol recently improved the UI around it to empower users to trade BEP20 assets in a decentralized and democratic way. 

The platform continues to call on community members interested in joining its UX/UI designers and smart contract dev team to send their applications at twitter.com/burger_swap. 

Governance 

BurgerSwap V2 emphasizes on community and governance to bring more users, traders, and liquidity to DeFi. 

The platform’s BURGER token is the first fully community governed token with no maximum supply. Each block produces 40 Burger tokens, with users getting a share of the rewards relative to the liquidity they provide.  

Users can add any pair by providing liquidity, but only BNB and BURGER pairs can mine BURGER tokens.  

Unlike SushiSwap, users on BurgerSwap can vote to change the platform’s parameters such as trading fees, staking rewards, and mining speed.  Of course, even the reward allocations for LPs and participants in voting can also be changed by voting.

BurgerSawp’s community governance has been a success, with numerous proposals already created and executed since launch. Currently, 2 million staked BURGER tokens are pledged per vote. 

The project now seeks to improve its governance system to ensure the model’s sustainability and enhance voting and access to liquidity.

Their dev team is currently working to integrate more DeFi functionalities to the protocol to build a comprehensive DeFi experience on BSC.  

Burgerswap is also looking to cap the maximum supply of BURGER tokens to determine the project’s long-term value. Currently, BurgerSwap has an upper limit set at 120 BURGER per block and the lower limit of 1 BURGER.  

Users can vote on the number of tokens produced per block, but the amount needs to stay within the set range to maintain a healthy state of the protocol. 

Tags: BurgerSwapCryptoDeFi
ShareTweetShare

Related Posts

LetsExchange Acquires Crypto Aggregator Alligat0r…

LetsExchange Acquires Crypto Aggregator Alligat0r…

by admin
May 18, 2022
0

LetsExchange Acquires Crypto Aggregator Alligat0r... UNITED STATES Mon Apr 11 2022 04:00:00 GMT-0400 (EDT) (Blockchain Wire)  Roger Santos Media Contact...

ElonCoke (ELNCO) Announces Listing on PancakeSwap and Upcoming P2E Game

ElonCoke (ELNCO) Announces Listing on PancakeSwap and Upcoming P2E Game

by admin
May 18, 2022
0

ElonCoke (ELNCO), a token on Binance Smart Chain, has announced its listing on PancakeSwap as well as having revealed some...

You won’t believe what cannabis company Melee Dose did with their Mutant Ape Yacht Club #4573.

You won’t believe what cannabis company Melee Dose did with their Mutant Ape Yacht Club #4573.

by admin
May 18, 2022
0

You won't believe what cannabis company Melee Dose did with their Mutant Ape Yacht Club #4573. The two teamed up...

Sylvester Stallone NFT “Golden Signature” Exclusive Edition Coming to OpenSea

Sylvester Stallone NFT “Golden Signature” Exclusive Edition Coming to OpenSea

by admin
May 18, 2022
0

Sylvester Stallone NFT "Golden Signature" Exclusive Edition Coming to OpenSea One lucky fan can win an Ultra Rare Golden SLYGuy!...

Ninja Fantasy Trader Announces Its First Trading Contest of NFTraders or Samurais

Introducing Relation, A Multi-chain Social Graph Data Explorer On Web3

by admin
May 18, 2022
0

Introducing Relation, A Multi-chain Social Graph Data Explorer On Web3 SHANGHAI, CHINA Mon Apr 11 2022 08:30:00 GMT-0400 (EDT) (Blockchain...

POPULAR NEWS

4 Cryptocurrency that Blow Bitcoin Out of the Water

4 Cryptocurrency that Blow Bitcoin Out of the Water

September 25, 2020
Memoriae – Next Generation of Decentralized Cloud Storage Based on Blockchain

Memoriae – Next Generation of Decentralized Cloud Storage Based on Blockchain

July 1, 2021
Apollo CBDC: The CBDC Platform that can Power Economies

Apollo CBDC: The CBDC Platform that can Power Economies

October 6, 2020
Stratus: The Most Feature Rich Social Media Network

Stratus: The Most Feature Rich Social Media Network

September 9, 2020
Binance Coin (BNB) erupts above $270 as the whole Smart Chain ecosystem soars

Binance Coin (BNB) erupts above $270 as the whole Smart Chain ecosystem soars

February 19, 2021

EDITOR'S PICK

Markets Performed Well, Scaling Projects Thrived and Regulators Flexed Their Muscle: CoinDesk’s Q3 Review

Markets Performed Well, Scaling Projects Thrived and Regulators Flexed Their Muscle: CoinDesk’s Q3 Review

October 5, 2021
Coinbase Brokered MicroStrategy’s $425M Bitcoin Purchase, Companies Reveal

Coinbase Brokered MicroStrategy’s $425M Bitcoin Purchase, Companies Reveal

December 1, 2020
Bitcoin may suffer several corrections on its way to $200k, suggests Peter Brandt

Bitcoin may suffer several corrections on its way to $200k, suggests Peter Brandt

February 22, 2021
Social Media Crypto Advice, Gamification Targeted by Global Standard-Setters at IOSCO

Social Media Crypto Advice, Gamification Targeted by Global Standard-Setters at IOSCO

March 21, 2022

About

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Follow us

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Press Release
  • Regulation
  • Uncategorized

Recent Posts

  • LetsExchange Acquires Crypto Aggregator Alligat0r…
  • ElonCoke (ELNCO) Announces Listing on PancakeSwap and Upcoming P2E Game
  • You won’t believe what cannabis company Melee Dose did with their Mutant Ape Yacht Club #4573.
  • Sylvester Stallone NFT “Golden Signature” Exclusive Edition Coming to OpenSea
  • About Us
  • Privacy Policy
  • Contact Us

© 2020 cryptomustar.com

No Result
View All Result
  • Home
  • Altcoin
  • Bitcoin
  • Ethereum
  • Litecoin
  • Cryptocurrency
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO

© 2020 cryptomustar.com

  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • yfBetayfBeta(YFBETA)$4.27-0.10%
  • IDLEIDLE(IDLE)$1.44-12.39%
  • WPP TokenWPP Token(WPP)$0.006826-3.49%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Werewolf CoinWerewolf Coin(WWC)$0.098082-2.58%
  • PolkaBridgePolkaBridge(PBR)$0.439784-6.92%
  • Dev ProtocolDev Protocol(DEV)$1.76-16.14%
  • EvidenZEvidenZ(BCDT)$0.122949-3.85%