12 Million $DEXT Tokens Burned in 2024 –Our Biggest Year Yet!

08/10/2024

3 min.

The year 2024 was amazing, with 12 million $DEXT tokens burned. The latest burn event was a new record!

We successfully held our last token burn event in October, where 7,000,000 $DEXT tokens were burned during the DEXT FORCE Festival.

This was the largest $DEXT token burn ever, representing 9% of our circulating supply, made possible by our robust tokenomics model.

The Deflationary Model

Our platform’s utility token, $DEXT, is often regarded as one of the most deflationary and sustainable tokens in the DeFi market. What drives this? It’s all about continuous buybacks and burns made possible by our platform’s aggregator and updated social fee services.
Since our operating expenses are covered by advertising and other income, we’ve committed the majority of our additional revenues to $DEXT token support. Specifically:
100% of aggregator fees across all chains will go toward buybacks and burns of $DEXT.
100% of updated social fees paid in $DEXT (roughly 40% of the total) will also be burned.

Here is a summary of the latest significant burns, with the date they were conducted and the amount of tokens burned in each one:

You can easily check our burn metrics here: burn.dextools.io.

A quick glance at the Burn Dashboard reveals why $DEXT has one of the strongest tokenomics around. Here’s a breakdown:

Dashboard Overview

Top Row: Two key charts:
- The first chart shows the rate of supply reduction, illustrating burn performance over time.
- The second chart displays recent supply reduction—over the past 30 days alone, circulating supply dropped from 86 million to 76 million tokens.
Second Row: Panels providing details on how much $DEXT has been burned over the last day, week, and month, with metrics including the amount of $DEXT, supply percentage, and estimated annual supply burn rate. Estimates suggest an annual burn of 12 million.
Third Row: In-depth token statistics and projections, including:
- The current number of unique token holders and their growth over the last 24 hours (now around 19,800 holders).
- The $DEXT price required for social network updates within DEXTools, including the discount relative to the $ETH price.
- Total burned $DEXT and projected annual burn based on last month’s activity.
- Estimated buy pressure and price impact if burn rates continue at the current pace.
Final Row: A comprehensive view of aggregator and social fee wallets, including 24-hour changes and their current holdings in ETH/BNB/DEXT.

And that’s it, it’s as simple as that!

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Trade safely and enjoy the exciting world of DeFi.