CoinGecko’s Internet Computer chain page also lists ICPSwap as the top DEX on the network with a 100% share of 24-hour volume. Rival DEXs on the chain, including Sonic $ICP and KongSwap, hold TVL of roughly $2 million to $3 million according to DefiLlama, while ICDex and ICPEx are far smaller.
ICPSwap describes itself as the native and earliest DEX on the Internet Computer ecosystem. CoinMarketCap notes that the platform charges a 0.3% fee per swap, of which 0.06% is directed to buybacks and burns of the $ICS token and 0.24% goes to liquidity providers.
$ICS Burns and $ICP Rewards for Token Holders
The $ICS token uses what the project calls an infinite burn mechanism. CoinGecko’s token page states that all revenue generated by ICPSwap, including swap fees, Launchpad, staking pools, farms and token minting fees, is used to repurchase and burn ICS. Total burns now stand at more than 56.8 million $ICS. ICS has a maximum supply of 1 billion tokens, according to the project’s own documentation.
Token holders also receive $ICP rewards. Recently, 2,652 $ICP from 40% of trading fees was distributed among 1,458 wallets. The project has previously published dividend rounds expressed per 10,000 $ICS held, and team allocations are excluded from those payouts.
The amounts remain modest compared with major DeFi chains. Within the Internet Computer ecosystem, however, ICPSwap continues to serve as the main venue for trading and liquidity.
