Recap of our listing policy, a story behind DegenSwap and BSCswap, and the 1500$ airdrop per person.
This is the recap of our DegenSwap launch and the airdrop of DEGEN token, a story that how we decided to give 1500$ worth $DEGEN airdrop per each victim of $MANGO, $CZ, $SAFU, $FUNDS incident.
Past of DegenSwap
Until we launched DegenSwap, we tried to support as many as Binance Smart Chain based projects as possible since the ecosystem was small and the projects were new.
Here are the previous announcements for new listings made from our twitter account.
We have made more, however, we have only uploaded some announcements on our Twitter to make more engagements.
Although some listed tokens executed the so-called rug pull ( dumping huge shares to investors and exit scam ), it wasn’t a big problem since there was a little engagement for them. Until we found that there was an ongoing hype of $SAFU token and we decided to list them since many of our community asked ( You can search them on https://t.me/bscswap ), and since there was a big hype created by someone on twitter as well.
The listing announcement of $SAFU and related tokens were made https://twitter.com/BSCswapProtocol/status/1312478265127305217 https://twitter.com/BSCswapProtocol/status/1312478576369831936 after the alleged shiller started to spam about $SAFU https://twitter.com/CryptoBethany/status/1312332916538535937 https://archive.is/aY8SC 1 day ago before listing made and since we couldn’t examine every new project we have decided to list them based on the community’s trust.
However, like the previous $BAMP or $BEBE token incident, $SAFU and related tokens did a rug pull and dumped the shares to the investors, and ran without notice.
After then we noticed the community delist the alleged tokens https://twitter.com/BSCswapProtocol/status/1312722030832177152 and then everything turned bad, people lost trust in our new tokens listing and it went the same with the alleged shiller also.
After then, we decided to build a twin exchange and twin token for BSCswap with the community vote https://twitter.com/BSCswapProtocol/status/1312792101025792001, letting users to bet on new tokens without having trust.
Also, we have offered an airdrop to the victims as well https://twitter.com/BSCswapProtocol/status/1312722030832177152, we created the DEGEN token with more than 80% of the supply allocated for the airdrop for the victims, and then with the launch of DegenSwap platform https://degenswap.io as well as the DegenSwap LaunchField Staking Pool https://pool.degenswap.io , the market cap of DEGEN token grow fast, almost similar with other major tokens like $BAKE.
Not only having a farming pool for $DEGEN but we also offered an airdrop as well as a buyback and burn event from the fees collected from LaunchField Pool and the fees collected from BSCswap. https://bscscan.com/tx/0xa61e549f088393834f039dcaa4afb4e58b695924ef8a4e701b44fe794b5e13a9 The largest single buyback was recorded of 20,000$ worth BNB tokens buying $DEGEN for burn.
Also, we have constantly executed a buyback for the listed tokens on LaunchField which created the instant pump of the price as well. 24,000$ for BHC https://bscscan.com/tx/0x550daf20a9c6065a75637ae4a10fbc6f3c2cde626332fcdd2593466dbbe83b29, 9,000$ for EARTH https://bscscan.com/tx/0x296113272b6bb26d0a8c0c5726f62a9071eaaed3de91b2e319495a76cedf1f79, and 7,000$ for EARTH again https://bscscan.com/tx/0xea9bc8c4031faa4879c353ac5d96ca804401033749e79e96c2c84bf6ea5c1055.
After creating many tokens based on airdrop and having enough community engagements as a starting journey of BSCswap, we have decided to open a BurnPool which is similar to swapping tokens to new ones https://bscswapprotocol.medium.com/announcing-bscswap-v2-and-the-migration-from-degen-bhc-earth-moon-rabbit-to-bswap-token-cb5201a410cc in order to focus on the development of BSCswap V2.
Future of DegenSwap
As we have updated our BSCswap platform last night https://bscswapprotocol.medium.com/updates-on-bscswap-ui-listing-policy-877cd97ead32 , we have re-enabled to add custom tokens just like you do on Uniswap or Pancakeswap. Therefore, there is no unique feature for DegenSwap right now as we are not going to differentiate the listing for both platforms as well.
The existing DEGEN token supply will be migrated till November 11th as we have allocated 0.2% of the BSWAP token supply for migration. This is same as any other tokens issued on LaunchField as well.
We have learned a lot for governing both DegenSwap and BSCswap and the future of current platforms will be on BSCswap V2 as well. With the community governance function implemented on V2, we hope there will be a bright future for the platform as well.