SEYCHELLLES, Oct. 21, 2021 (GLOBE NEWSWIRE) -- (via Blockchain Wire) BUSTA (https://www.busta.gg), a GameFi platform built on the Binance Smart Chain, has launched a first-ever, fully customizable Decentralized Exchange (DEX). Through customizable swap fees and fee distribution for each token listed, BUSTA provides projects the ability to choose the percentage tx tax they want and how that collected tax will be used.
BUSTA DEX allows each token to choose its own swap fee and what that fee is used for, from the following options:
- Return to Liquidity Pools (LP)
- Auto-burning of THEIR token (not the DEX’s native token)
- Auto-adding liquidity
- Sending funds to the project’s treasury wallet
Current leading DEX's operate with a tx tax, which collects a small percentage of every trade that takes place on the exchange (roughly 0.2–0.5 percent) and then shares it between the DEX treasury, rewards for LP providers, and burning the DEXs native token. The downside in this is that tx tax is locked in from the start, which comes with inherent drawbacks, including having to pay four separate tx taxes when someone wants to buy, create LP, break LP and then sell a token. This can cost as much as 20% of the total token value if a token has a 5% tx tax. Most of all, the majority of centralized exchanges (CEX) don’t want to list tokens with a tx tax, which makes it difficult for projects to grow their community of holders.
Decentralized Exchanges are big business; the monthly trading volumes on Automated Market-Makers (AMM’s) reached a staggering $170B USD per month in May and have been consolidating around the $75B USD per month level. BUSTA DEX is the first to market with a fully customizable router (AMM). Combined with a fun iGaming experience and vision of full automation, BUSTA is seeking to stake its market share of this exponentially growing sector.
“Tailored transaction tax is a crucial step forward for DEXs as it gives projects a much better chance of listing their tokens on CEXs by allowing them to decide where and how that tax will be used,” said Fran Strajnar, Founder of BUSTA. “Many CEXs just outright don’t list tokens with transaction taxes as they have to consider that tax every time they process a withdrawal or transfer funds between wallets internally. In addition, many of these tokens are missing out on a tax that could be used to reinvest into their ecosystem. We believe BUSTA is the solution.” Stated Mark Berisha, CEO of recently launched (v1) MFRM.io token-backed-NFT marketplace. $MFRM was listed on BUSTA DEX in the first cohort of partner tokens which also includes vaulty.fi and Neural Pepe. BUSTA DEX has built the transaction tax functionality into the router of their automated market maker (AMM), making it fully customizable. Through this customization, BUSTA is working to create a utility that could go as far as to make the current model for DEXs completely obsolete.
For more information on BUSTA and the newly launched DEX, visit their website at https://www.busta.gg/ as well as their official GitBook.
About BUSTA
BUSTA (https://www.busta.gg/) is a next-generation GameFi platform built on Binance Smart Chain. It is an enormous and ambitious ecosystem populated by multiple games and tokens. Accompanied by its own DEX, Staking pools, Affiliate and Partner programs, and DAO, it is truly unique in it's intricately weaved architecture. It is capable of huge horizontal and vertical growth and expandability, while keeping all profit cycling within the ecosystem itself and managed by the community via the DAO.
