A group identifying themselves as the SatoshiStreetbets has announced plans to launch their own cryptocurrency token in February. The group identifies itself as the equivalent of what WallStreetBets is, only that this one focuses on crypto.
The cryptocurrency already has a name set out for it. Satoshi Tokens will be distributed to members according to upvotes on their Reddit posts. Customers using Uniswap and SushiSwap decentralized exchanges can get the tokens sent to them before distributing them to liquidity providers.
Little Eagle Explains
The SatoshiStreetBets moderator identifying themselves as the Little Eagle comes out in a blog post to explain the reasons behinds their new vision.
Humorously, one of their reason is YOLO! You Only Live Once, right?
You might as well launch a crypto asset.
Alongside that sideline, Little Eagle explains the remarkably rate decentralized exchanges are growing. Now that the base work is done and the world has accepted decentralized financial systems, Satoshi Tokens will solve the few market’s desires not currently addressed.
What is to the Rescue?
Little Eagle notes glaring market limitations that need to be addressed. Among them are high gas fees, lack of margin trading, scalability concerns, and a lack of interoperability.
These WallStreetBets ‘self-acclaimed equals’ now dream of solving the current problems and bringing a fresh perspective to the game.
SatoshiSteetBets is a famous group of community traders that have a pretty much-set camp on Reddit. Like any group with varying loyalties, the Reddit group risked division. Satoshi Tokens will now be able to rally up all the participants behind one coin unitedly.
Is there Hope For the SatoshiSteetBets?
Yes actually. This Reddit group was created this month and has been able to amass more than 300 thousand users. Here is why;
The group was created as a crypto alternative to WallStreetBets, which recently helped pumped GameStop stocks’ prices to unimaginable figures.
With the traction crypto has gathered throughout the globe, a similar group providing similar incentives to the market will undoubtedly catch attention.