SatoshiStreeBets, a subreddit group, is launching its very own cryptocurrency. The group that describes itself as “the crypto version of WallStreetBets,” is planning to launch SatoshiSwap (SAS), a utility token that will be distributed to its members based on the upvotes on their posts.
The token, which is expected to be launched sometime in February, will also be airdropped to the users of the popular DEXs Uniswap and SushiSwap and those who provide liquidity.
This is because the SatoshiSwap, a cryptocurrency, and DAO is inspired by the popular UniSwap and SushiSwap projects, and the DEX market is “shaping up to be wildly successful and lucrative” but with the glaring problems of high gas fees, scaling issues, among others, as per the Reddit post.
Besides “YOLO,” the community of traders wants a token of their own to “rally behind and throw all our support towards.”
Created in February 2020, SatoshiStreetBets is a spinoff of WallStreetbets, which was behind the pump of popularly shorted stocks like GME and AMC. The SatoshiStreetBets subreddit currently has 3.15k members who are called “degens.”