INTANGLE Burns Tokens and Locks Liquidity

IconCryptoNewsTerminal Staff16 Jul, 2024

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INTANGLE Burns Tokens and Locks Liquidity

INTANGLE (NGL), a decentralized finance protocol, has taken steps to reduce its circulating supply and increase its liquidity. On Thursday, the protocol announced via Twitter that it had "burned 25% of the NGL tokens allocated to the team vesting schedule." This move has resulted in a reduction of 3% in NGL circulating supply. In addition to the token burn, INTANGLE has also locked its liquidity provision allocation, which comprises 2.5% of its total supply. This move is intended to increase the protocol's liquidity and make it more accessible to traders and users. These moves by INTANGLE are positive signs for the protocol's long-term health and growth. By reducing its circulating supply and increasing its liquidity, INTANGLE is making it more attractive to investors and users.

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