Developers minted a large amount of tokens for an altcoin that was delisted from cryptocurrency exchange Binance. Here are the details.
LeverFi, the leveraged trading protocol, has minted approximately 13.7 billion new LEVER tokens, according to on-chain data.
Some of these tokens have already been transferred to the cryptocurrency exchange Bybit, but so far there has been no official statement from the project team.
This development comes on the heels of Binance’s announcement that it would be delisting the LEVER token as of July 4. The community finds the timing of the new token minting and exchange transfers noteworthy.
LeverFi announced the “LeverAI staking incentive program” on May 15 and announced that the total supply would be increased from 35 billion to 55.7865 billion. Today’s token printing may also be part of this new supply planning.
LeverFi, formerly known as RAMP DEFI, aims to provide an adaptive layer that enables AI-powered decentralized applications (deAI) to securely communicate and transact on global blockchain networks, according to its official statement.
The LEVER token is currently trading at $0.0003124, down 94.2% from its July 2022 high of $0.005333.
