RottenSwap (ROT Token), a fork of Sushi Swap, has announced their airdrop. The airdrop will be running through October 31st. With the announcement of the airdrop, ROT hit a peak of $8.6 million in Uniswap trading volume.
A HODLer’s Airdrop
This is a different type of airdrop than the ones generally seen across the cryptosphere. Instead of users signing up to follow or join a coin’s social media and receiving coins at a specified date, users must hold at least 7,500 ROT tokens and participate in the airdrop snapshot.
As promised, here are the #airdrop details :
– #Follow us, #like and #RT this tweet,
– Join our #TelegramGroup https://t.co/NcYYETgvQF,
– Hold 7,500 $ROT tokens minimum at snapshot time,
– Fill the form : https://t.co/EeHOBtX3EE$ROT $ETH $BTC
— RottenSwap (@RottenSwap) October 1, 2020
The twist is that the snapshot date will not be announced until the 31st so that holders will be encouraged to hold ROT throughout the airdrop period.
As of today, the developers have not specified what specifically will be distributed in the airdrop.
ROTTEN Pieces of Sushi
As a fork of Sushi Swap, RottenSwap is a yield farming token (though probably not a safe to eat one). The features of RottenSwap, according to its Medium page, are as follows:
- The ROT token does not have a premined dev fund, making it impossible for the ROT founders to pull a Chef Nomi-style market sell.
- The pools are intended to promote farming by supplying the ROT itself with liquidity instead of a low-risk route for whales to drain smaller holder assets.
- The SUSHI is “rotten.” With every ROT transaction, 2.5% is burnt and transformed into MAGGOT tokens. The MAGGOT are inflationary while ROT tokens are deflationary. With increasing volume, this creates a positive feedback loop for ROT prices.
RottenSwap also has a governance feature that allows users to vote on community proposals using their tokens. Down the line, RottenSwap devs plan to implement NFT trading, a gambling DApp, and an overhauled governance system.