LocalCoinSwap uses 20% of the trade fees collected on the platform to buy back LCS on the open market. These LCS will be subsequently burned. Buybacks occur every 2 weeks and take place on Uniswap.
This buyback and burn process creates forced demand for the LCS tokens and continually increases each holder %-ownership through a constant reduction in the total supply.
Update September 13th 2022:
Please note that currently the rotating schedule between Uniswap and Hotbit is paused due to the current issues with Hotbit. All burns will temporarily proceed on Uniswap alone.