The cryptocurrency equivalent of the WallStreetBets subreddit is called SatoshiStreetBets. The community is planning on creating its own token, as declared by a group moderator. Via airdrop, liquidity mining, or forum involvement, individuals may obtain the token.
SatoshiSwap (SAS) tokens would go to participants for their Reddit posts dependent on upvotes, and will act as governance tokens for the community.
It would also be airdropped to members of the Sushiswap and Uniswap open exchanges and spread to liquidity suppliers, according to today’s Reddit update. The token launch is reportedly scheduled for a date in February that has yet to be decided.
A Token for WSB Apes
In the thread, u/little-eagle, moderator of SatoshiStreetBets, gave many explanations for creating a token.
As a spinoff of WallStreetBets, the subreddit that helped pump the price of GameStop up to dizzying heights last month, SatoshiStreetBets was founded in February 2020.
The subreddit is host to the normal collection of memes of cryptocurrencies and bullish predictions of tokens including Cardano (ADA). During Dogecoin’s latest price rise from under a penny to an all-time peak of $0.08, national media organizations began reporting the group.
Subreddit users were attempting to drive the price to an astronomical $1.
The subreddit is up to 313,000 members as of publishing, and since tweeting for the first time today, the Twitter handle for the new token has over 1,200 fans.
The Full Announcement
The announcement is as follows:
Our crypto trading community has gone through an incredible explosion of popularity. We’ve grown to a huge amount of subscribers in a short span of time and have been featured in news publications all around the world (CNBC, New York Post, Cointelegraph, Yahoo Finance, Forbes to name a few). And we’re still growing. Fast. At the time of this post, our two biggest trading communities have 300k+ subscribers (Reddit) and 38k+ members (Discord). This is just the beginning!
So today I’m proud to announce the initial development of SatoshiSwap, a cryptocurrency and DAO inspired by the popular UniSwap and SushiSwap projects and made for the members of SatoshiStreetBets. SatoshiStreetBets is launching this token for 3 reasons:
The decentralized exchange (dex) market is shaping up to be wildly successful and lucrative. Yet there are glaring problems which need to be addressed – high gas fees, scalability issues, lack of interoperability, lack of margin trading etc. We can make a difference and offer our own fresh perspectives.
As a community of traders, we’re always looking for a token to unite us, that we can all rally behind and throw all our support towards. Here it is. And there is so many ways the community will be able to get involved.