🔸Liqudity Burnt Provider

The first product

Liquidity Burnt Provider is the first Telegram bot built by BonfireLabs, designed to monitor all burned LP tokens on selected EVM networks. Initially, the team introduced support for two of the most well-known networks, namely ERC20 and BSC (Binance Smart Chain). In subsequent stages, the team is considering adding support for other EVM-based networks such as Arbitrum, Avax, Fantom, Solana, PulseChain, and others.

The Liquidity Burnt Provider bot operates by tracking and collecting information about burned LP tokens on the mentioned networks. Burning LP tokens re fers to the process of permanently removing those tokens from circulation, usually to provide greater stability and increase value for holders of other tokens.

With Liquidity Burnt Provider, members of the Bonfire community can track and monitor the amount of burned LP tokens across different EVM networks. The bot provides transparency and access to real-time burning information, enabling investors and community participants to follow progress and assess the impact of burning on the Bonfire ecosystem.

The consideration of expanding Liquidity Burnt Provider's functionality to other EVM-based networks like Arbitrum, Avax, Fantom, Solana, PulseChain, and others demonstrates Bonfire's team's aim to support a wider range of blockchain platforms. This way, a larger number of investors will have the opportunity to monitor and track LP token burning across various networks, potentially increasing interest in the Bonfire project on different platforms.