This morning of 9/14/2021, TokenSwap exchange launched their own token, aptly named TokenSwapCoin, as well as the ability to liqudity mine and farm yield by doing so.
If these terms are all unfamiliar, I can relate as I’ve been having to learn how all this works over the past few days in order to understand what the hell is going on.
Angus Adams (Deadloch) has written amazing blog posts on the subject, so please check out his latest post (and earlier ones) to get a proper introduction to TokenSwap.
The TLDR of is, some of the same degeneracy going on on other chains has inevitably made its way to the supposed LAWR and government-friendly BSV coin that has utterly failed in getting any type of enterprise adoption to date.
Don’t believe me?
Nearly 100% of the transaction volume and thus mining revenue is generated under an iGaming category, aka consumer applications. Given the amount of money put into TokenSwap over the past few days (nearly 2 million USD), this trend will only continue. Especially given the NFT craze and speculation on tokens, which are still king in the crypto space.
Of course, while decrying the same activity on other chains, it is permitted and encouraged on BSV so long as it pumps one’s bags.
TSC had a theoretical initial redemption price of 8000 satoshis - that has now 7x in only 3 hours as more and more money chases yield.
I imagine this is just the start of these products and its experimentation should be welcomed. Of course, there are those that will cry about and decry this activity as something that finally does pump their bags isn’t the way they envisioned.