Leverfi, a leveraged trading protocol, is minting around 13.7 billion new lever tokens, according to on-chain data.
Some of these tokens have already been transferred to cryptocurrency exchange bybit, but so far there have been no official statements from the project team.
The development comes just after Binance’s announcement that it will list the lever token as of July 4th. The community is worth noting about the timing of new token mint and exchange transfers.
Leverfi announced the “Leverai Staking Incentive Program” on May 15th, and announced that its total supply would increase from 35 billion to 5,5786.5 billion. Token printing today is also part of this new supply plan.
Formerly known as RAMP Defi, Leverfi aims to provide an adaptation layer that enables AI-powered, distributed applications (DEAI) to securely communicate and trade global blockchain networks, according to an official statement.
Lever tokens are currently trading at $0.0003,124, down 94.2% from their July 2022 high.
*This is not investment advice.