Cardano Ecosystem





Token Spotlight: BTN

BTN is the governance and utility token of Butane, an upcoming multi-collateral next generation synthetics protocol on the Cardano blockchain.

Token Spotlight: BTN

BTN is the governance and utility token of Butane, an upcoming multi-collateral next generation synthetics protocol on the Cardano blockchain. To date this token had the highest pre-sale on Cardano with over 49 million ADA raised. BTN looks to bring high throughput cardano defi through the power of the Aiken smart contract language. This article delves into BTN, its distribution, utility, and more.

BTN Distribution & Tokenomics

BTN Distribution Pro page on TapTools

BTN has a total supply of 25 million tokens. Currently, 12 million BTN are in circulation, equivalent to 48% of the supply. At 1.130 ADA per token, this gives BTN a Market Cap of $8,382,895 Diluted Market Cap of $17,464,365, placing it at #24 in the Top 50 tokens in the Cardano ecosystem.

Currently, there are 5,403 wallets holding BTN, up 20.90% in the last 7 days. The median holder balance is 0.17 BTN equivalent to 0.17 ADA, and an average holder age of 16.70 days.

BTN Tokenomics

The above image details the tokenomics of the BTN token. Over 40% of the supply was allocated to the fair launch which was a record-breaking pro-rata token sale.


BTN Liquidity Pro page on TapTools

BTN has 1.3 million ADA in liquidity across 5 Decentralized Exchanges on the Cardano blockchain. The vast majority of this liquidity is on Spectrum Finance, which holds 98.58%. The second most liquid DEX for the BTN token is VyFinance which holds 0.56% of the total liquidity.


BTN Volume Profiler Pro page on TapTools

BTN has a Lifetime Trading Volume of 32.83 million ADA, equivalent to 75.62 million BTN. 16.52 million ADA of this was buy volume, while 16.31 million ADA was sell volume. The fish wallet size (5–25K ADA) leads this token in trading volume, followed by the swordfish wallet size (25–100K ADA.


We’ll now delve into the various utility the BTN token has to offer its holders.

Governance Staking

BTN holders will be able to stake their tokens to participate in governance of the Butane protocol.


BTN can be used as collateral when opening a CDP on the Butane protocol.

Governance Proposals

Submitting new proposed governance actions requires the staking of BTN.

Interest Payments

Protocol users will have the option to pay CDP interest at a discount by burning BTN.


In conclusion, BTN is instrumental to the Butane ecosystem, supporting the development of cutting-edge synthetic protocols on the Cardano blockchain. It looks to offer substantial utility, aligning with Butane’s aim to expand the horizons of Cardano’s DeFi landscape. This discussion has illuminated BTN’s significant role and potential influence, marking it as a vital component in the ongoing evolution of decentralized finance.

You can find out more about BTN and the Butane Protocol at the following link: https://butane.dev/


SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!

Read Original Article on TapTools



Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.

Genius Yields DEX Launched!

More from TapTools

See more
Open Source Software MBO Launched on Cardano
Open Source Software MBO Launched on Cardano




Related News

See more
Genius Yields DEX Launched!

Featured News

See more