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XcelLab Magazine

XcelDefi Destroys 400K+ XLD Tokens in First-Ever Burn Event

We are excited to announce that XcelDefi is organizing XcelDefi Burn Event on 15th May, on XcelDefi Twitter space.

As the celebration for the commencement of the burn event which will happen this Sunday we will be burning 412,291 XLD.

XLD Defi monthly token burn will depend on monthly milestones achieved by Xcellab Vertices as well as on monthly profitability achieved, under XcelPay Wallet, XcelSwap, and XcelTrip.

We are glad to announce that XLD Defi will be hosting XcelDefi Burn event on the 15th of every month, from profits, trading fees collected, and milestones achieved in the previous month.

The token will be burnt from two wallets :

Reward and loyalty wallet: 0x6bdd82940be2f8a2477ecf4ab1392d5b60c22cd7

Revenue wallet address: 0x00B7f6949AFC937B8E429f4a21985BcCa7e283eE

As a celebration for the commencement of burn event, we are burning 100k XLD from the reward wallet.

We have achieved grand milestone of 50K token holders’ in the month of April. So, 50000 XLD will be burnt additionally from the reward wallet.

10% of gross revenue from XcelTrip i.e. $1123.5 , will account for 93,655 XLD burn (bought from the market @0.011 per XLD)

10% of gross revenue from XcelPay i.e. 1855$ will account for 168,636 XLD burn ( bought from the market @0.011per XLD)

That’s total token burn of 412,291 XLD worth $4947, happening on May 15th.

Trading fees (0.03%) collected from dev addresses, from the month of May, will account for XLD burn (bought back from the market) starting from June.

The live token burn is taking place live on Twitter Space.

XcelDefi is the native token of Xcellab Ecosystem with largest mass adoption and biggest use cases. Tune in for more details. Follow us on our social media handles. Join the XcelDefi Community on Telegram, Twitter, Facebook, and Discord. Learn how you can invest, earn high returns and exciting rewards from XcelDefi.

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XcelDefi

The XcelDeFi, powered by XcelLab Ecosystem, aims to build a decentralized digital product ecosystem backed by their native token, XLD.