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HomeCrypto NewsMarketOver 2,000,000,000,000,000 Babydoge Burned By Team

Over 2,000,000,000,000,000 Babydoge Burned By Team


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Baby Doge Coin burned over two quadrillion BabyDoge on the BSC network in the past 24 hours.

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The team behind Baby Doge has burned 1,900,000,084,918,561 (1.90 quadrillion) BabyDoge, worth $2,357,145 ($2.35 million) in farm rewards and an additional 113,000,000,000,000 (113 trillion) tokens, worth $140,188 ($140.18K) through transactions on the BSC network in the past 24 hours. That’s over 2,000,000,000,000,000 (2 quadrillion) tokens.

The development was officially made public via tweet.

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The move comes in response to a snapshot proposal initiated by the Baby Doge Coin team on July 13th, which proposed the burn of farm reward tokens. The proposal garnered massive support, with 96% of votes in favor.

Upon the proposal results, the team discontinued sixty-one (61) farms on the BabyDogeSwap decentralized exchange (DEX) on July 21. This move facilitated the systematic removal of approximately 1.9 quadrillion farm reward tokens, all set to be incinerated on August 1.

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Baby Doge Coin is a deflationary token. This means that it has built-in mechanisms to reduce its supply over time. BabyDogeSwap DEX implies a 10% fee on each transaction, with 5% being distributed to holders as reflections, rewarding them for their support and holding. The other 5% is allocated to the Pancakeswap liquidity pool. The LP tokens generated through these fees serve multiple purposes, including burns and fueling the project’s growth.

BabyDoge boasts a limited supply of 420 quadrillion tokens. According to BabyDogeSwap’s official website, a whopping 208.5 quadrillion have been removed from circulation forever. Consequently, the current circulating supply now stands at 156.1 quadrillion BabyDoge tokens.

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Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

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