Hey gang,

This is our regular update where we drop the latest news on different aspects of SatoshiSwap - development, marketing, milestones, stuff happening in the pipeline and more.

Token Swap

For compatibility with our upcoming margin dex release, there will be a token swap of all existing SatoshiSwap tokens to a new smart contract address.

You don't need to do anything, this is an automatic process. The full details will be in next week's update

This is a 1:1 swap and everyone will receive exactly the same amount of tokens that they currently have.

No extra allocations are being created for anyone

Liquidity Increase

We will be significantly increasing USD liquidity by injecting more funds into the liquidity pool. This will be done as a surprise announcement.

Benefits In A Nutshell

Approximately a 15% reduction in the immediate total supply. Read more about this below

Enables us to simplify our multi-chain approach

Enables us to deploy a far superior trustless staking rewards contract (it was a recent code review of our upcoming rewards system that brought us to this conclusion)

Enables us to "future proof" certain aspects of the token so we have easy future compatibility with other DeFi products that are built by us in the future

Basically, it helps us do our job better and will result in a superior platform.

When Is The Token Swap Happening

All of the precise details will be released in next week's Friday's update. This is a pre-announcement of sorts, so it's not a complete shock.

What If I Buy SatoshiSwap Now, Tomorrow Or If I Bought It 5 Minutes Ago?

It doesn't matter when you buy it or when you bought it. Everything is handled automatically by us.

As per the landing page of our website, the SatoshiSwap ecosystem fund currently contains 15% of the total supply of SatoshiSwap. The intention of this fund is for it to be used for liquidity rewards to incentivise certain actions with the margin dex ecosystem (in DeFi, liquidity is king). The new token will no longer have this 15%, thus immediately bringing the total supply down by 15%. Instead, the new token will gradually release this 15% algorithmically over the next 12 months approximately, in accordance with the formula coded in the smart contract. To be clear, these tokens go to participants within the SatoshiSwap ecosystem and do not go to the team or anyone lurking in the shadows in the background.

So in summary - immediate coin supply reduction of 15%. Gradually replenished over the next 12 months according to the code algorithm. Beyond that, no emissions.

General Notes About The Future

The upcoming new SatoshiSwap token won't allow us to do a swap like this, as it won't have a pause function. And in the margin dex smart contracts themselves, upgradeability will limited and secured behind a time-locked, multi-sigged smart contract.

There will be a permanently running staking pool being deployed soon. Later in the year this will form the basis of future governance of the project.

Any currently locked tokens will remain locked on the new token

SatoshiStreetBets Brand

Instagram have transferred us ownership of the "@SatoshiStreetBets" account, recognizing us as the genuine and original SSB

TikTok have shut down the "@SatoshiStreetBets" account upon our request and we are in talks to get it transferred to us

Telegram is a work in progress and we will share an update on this soon. Note our Telegram username is "@SatoshiStreetBetsOriginal". A bad actor is currently squatting on the "@SatoshiStreetBets" handle.

We successfully blocked a bad actor from registering a US trademark for SatoshiStreetBets

Re-energising and unifying our SatoshiStreetBets brand will be a key part of our marketing strategy in the months ahead and these are important first foundational steps to help us mazimize our efforts. The glory days of SatoshiStreetBets will be coming back!

Margin Dex

Next week's update will be all about the margin dex and will include our marketing strategy.