Derived from Biji Wang, Pacifica has seen its daily trading volume surge to $1 billion in less than three weeks, driven by a temporary halving of transaction fees. The DeFi project on Solana aims to reduce exposure to the native token's volatility through token utility, fee rebates, and a focus on Bitcoin and Ethereum trading pairs. Solanafloor reports that 45% of new deposits occurred after the fee cut, and 70% of Pacifica’s volume is now in BTC and ETH. However, concerns remain about the sustainability of growth and the low open interest of $68.8 million.
Pacifica on Solana Grows Volume 5x in 3 Weeks Amid Tokenomics and Fee Cuts
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