I keep trying to figure out how the time on any of this would work, but sort of tied in with what you’ve said about dropping some in favor of promising low-cap alts, I do think that some kind of method for people to pitch projects they believe in as a replacement for some of these unknown projects would be good. Obviously, there is a fine line between shilling and lobbying for a coins’ inclusion in the ETP; however, people are going to be heavily invested in the projects in which they believe. So, for what it’s worth, I strongly believe that something should be taken out of this 20 and WaultSwap should be put in.
First, I found WaultSwap by researching WSB, as they were audited by the same firm that audited WSB. WaultSwap is relatively new (discussed below) but in addition to the RD audit, Wault has just a mountain of audits: Transparency - Wault
Second, Wault existed before, but transitioned into a Dex about a month ago. It’s still in the “barfing out tokens for early adopters” phase of the launch, but look at CAKE, BAKE, etc., and their early charts and while it doesn’t mean Wault will go the same way, it seems to be following their trajectory almost exactly. It blasted out of the gate, going like 1000x from 1c to 40c and then collapsed (just like CAKE, BAKE, etc.) but has somewhat stabilized. Wault has 2 tokens based on it’s plan to be more of an “ecosystem” but WEX is the Dex yield farming token I am focusing on until other aspects of the project evolve.
Third, WEX had a “series of unfortunate events” out of the gate, but has weathered these external factors pretty well. First, that rise and collapse happened – which was to be expected – but the tail end of that collapse ran into that 3-4 days where BSC was almost unusable (causing all the DEX on BSC to drop in volume and price), and that ran into the collapse of BTC which (like all other DEX on the BSC) caused a further drop in price. In any event, they are stabilizing and have a number of things going for them, search them up on the DEX section of Coingecko: Top DEX exchanges by Trading Volume - CoinGecko
Here, you will see that they are regularly in the top 10 for Volume, TVL, and Visits. You will also see that their most traded pair is usually WBNB/StableCoin as opposed to some exchanges generating volume flooding native tokens.
WEX has a Market Cap around $60 Million; TVL around $350-$400 Million; and volume seems to be around $150-$200 Million (post btc crash).
For comparison, look at projects that are smaller like BAKE or APESWAP. BAKE’s got a $550 Million MC; TVL around $300 Million; and about $75 Million Volume. Its numbers even look favorably compared to Pancakeswap ($3 Billion MC; $1.3 Billion Volume; $7.2 Billion TVL).
It’s a risky play, as all of these DEX are, but they are still in the inflationary period (and young), and are making great headway. They’ve already partnered with 1in to drive volume and have an ALPACA partnership that should go live by June 8 driving volume for the real degens. I don’t know enough about “BTS Labs” but supposedly this should lead to a big partnership with Chinese markets. They’ve also positioned themselves as a more “professional” look vs. the cute food stuff of other CAKE competitors. I don’t know if this is going to be an advantage or not, but might help.
So, basically, I do think DEX is the future and Wault has a chance to become a top 3 DEX on BSC. Even if it doesn’t, smaller DEX on the chain like Bakery show that the MC of Wault has a ton of room to grow.
I also think taking a chance on some promising small caps positions (even if it is a tiny position) sets the ETP up to be able to say stuff like “The WSB DAPP picked WEX for inclusion in the ETP when it was only 5c” or whatever. Basically a way to “sell” the DAPP as picking winners before they were winners (like every other “stock picking” website) – so even if it is not WEX, I think taking a chance on SOMEBODY’s small cap that they really believe in is a plus and necessary.
I am HEAVILY invested in this project, but I also really believe in it. I am not associated with the team or anything though.
Anyway, to the extent that this “pitch” should be in another thread, separate thread, etc., let me know. Otherwise I’m not sure how to get this out there.