On March 11th, RelayX announced their decentralised peer-to-peer exchange that enables trust-less exchange of tokens that are using on the Run protocol. since then there has been an explosion of Run tokens being traded on Bitcoin SV. You do not need to be a developer to create tokens on the Run protocol, Cryptoacorns built https://mint.tique.run/ that mints Run tokens easily without any coding knowledge and RelayX have recently implemented a token minting service on their platform alongside the wallet and exchange.
All of this can only be achieved using the Bitcoin SV blockchain with its incredibly low fees, trading and minting tokens becomes affordable to all and opens the door to so many exciting possibilities for the future.
I had a few people on Twetch reach out for help finding information about some of the tokens that are listed on RelayX so i thought it would be helpful to make a post going through the types of token markets that have increased in number over the last 6 weeks. At times the mornin.run has shown over 50 actively trading token markets and it can be hard to find information on all of these tokens.
Some tokens are backed by assets, future profits, future earnings and much more, you DO need to trust that the creator of the token will honour the agreement of the contract but this is a legally enforceable contract.
This token is a trial, it was announced on 22nd March 2021 and will end in 20 weeks. REX1 was the first loyalty token on Bitcoin SV, It is distributed to users who take trades (Buyers) on the RelayX exchange. 50% of all exchange trading fees during the 20 weeks will be put into the publicly auditable Bitcoin SV backed reward pool for REX1 holders.
Distribution of 800,000 tokens involved an airdrop initially to existing RelayX users based upon usage and then every 2016 blocks (~2 weeks) will be an airdrop of 100000 REX1 – 90000 – 80 – 70 – 60 – 50 – 40 – 30 – 20 – 10 to traders pro-rata based on fees paid to RelayX.
This is the first creator / influencer token that has been launched by Isaac Morehouse , Isaac is part of Numpties, Bitcoins Got Talent and more. This token is backed by multiple revenue streams from % from Issac’s books on canonic, 100% of Numpty Streamanity videos, 50% of Isaacs Streamanity videos and 50% of the The Soon Times revenue on Twetch. So far the NPC public wallet contains over 6 BSV, this can redeemed at any time, but there is no time limit on redemptions from this wallet like the REX1 so this wallet could potentially earn a share of these revenues for many years to come.
Distribution of the 10,000,000 NPC was carried out via direct market listing and was completely sold out within minutes with the open market now in control of the price.
This is a loyalty token from the skill based game Haste, it is available to play through Handcash. Players earn HST tokens every 24 hours based on the satoshis spent through gameplay on the app. 10% of all outputs from gameplays are added to the Haste Loyalty Wallet and will be redeemable to token holders for 5 years. This loyalty program rewards users for their usage of the app with tokens, as the number of users grows the rewarded tokens will be split among more users. By offering a 5 yr profit sharing loyalty program, the users can share in the potential success of the platform over the next 5 years. If HST tokens are redeemed they are burnt leaving remaining tokens with a larger future share.
Distribution of the 200,000,000 HST is broken down into 80,000,000 for gamers, 70,000,000 for Founding Team, 30,000,000 for Developers and 20,000,000 for Investors. The 80,000,000 for gamers is distributed as described above through gameplay, i could not fin what the actual circulating. supply is.
A bit of shameless self promotion here, but it is a great example of a redeemable token on Run. HAT tokens are backed by FIVE Twetch Rare Hat NFTs (#5,#10, #20 #41 & #45), Twetch Rare Hats are minted on a different protocol and cannot directly be traded on RelayX. There are only 101 Twetch Rare Hats and over 50,000 Twetch users. By tokenising the potential returns of this collection on Run, this offering enables users who would not usually be able to purchase a Twetch Rare Hat to share in any potential upside of the Twetch Rare Hat Market without investing into a whole Twetch Rare Hat. (Current lowest asking price of a Twetch Rare Hat is $11,500)
The terms of $HAT token are that 50% of the sale of each Twetch Rare Hat (#5,#10, #20 #41 & #45) goes into a public HAT Redemption wallet and held in BSV, HAT token holders can redeem their tokens from the redemption wallet after the first Twetch Rare Hat sale or continue to hold for more Twetch Rare Hats to sell. When HAT tokens are redeemed, they will be burned in a public address.
Distribution of the 1,000,000 tokens is controlled at a set BSV price 0.0008 BSV per token, there have been and may be more airdrops of these tokens to Twetch users until the initial distribution ends.
This is an interesting project from [email protected] on Twetch, He is also the person behind the website you have probably used https://bsv.run. Doriancoin is an old Litecoin fork that is still mineable, DSV is Doriancoin wrapped on BSV that allows DSV to be redeemed for Doriancoin. The thread below from Output Intern analyses DSV in more detail.
DSV – Doriancoin Satoshi Vision
DSV is one of the coins listed on the RelayX front-page.
Output Intern was recently requested analysis on DSV so here it is
— Output Intern (@Outputintern) April 26, 2021
Some tokens are made for fun or to support the creator of say an original piece of artwork, these tokens are not redeemable for anything and are to be thought of as collectables.
This is the first ever user created art NFT released through RelayX, the artist behind the PewPewRelayX GIF is ArtOnChain. I have been looking forward to seeing what ArtOnChain could bring to the BSV art sector for some time so its great to be able to purchase an extremely limited edition piece (1 of 100) that will support the artist not only from the initial sale but the artist also receives 2% of all future trades of their artwork through the market! This really changes the game on the secondary art market with the original artist receiving a royalty payment from all future purchase of their artwork.
Distribution of this token took place on RelayX, at 0.03 BSV per NFT Gif. The individual numbers (1 – 100) of the NFT GIFs where revealed after the sale concluded. The sale was a sell out over 30 mins and was instantly trading at a premium. Within hours the price had gone from the initial sale price of 0.03 BSV to all time heigh at the time of writing of 5 BSV per GIF.
This was the first ever token created on Bitcoin SV by Cryptoacorns, initially this was created with a low supply using SFP but a token swap took place onto the Run protocol and increased the total supply just over 65,000,000. The power of the “first” will always be with SHUA but there are no apps or stores currently accepting SHUA as a payment method, although i do believe Crypto acorns himself may take them for his services.
Distribution of all of the initial SHUA using SFP, was airdropped to Twetch users upon the tokens creation and then was token swapped onto Run at a rate of 700,000:1 in March of 2021.
The Weed Fiendz tokens that i released for 420 are another different type of token, These are mass produced original artwork novelty collectable NFTs but as there is not a dedicated art NFT solution on Bitcoin SV yet i have released them as Run tokens as a temporary solution. The tokens are a collection of 4 original images released together for 420 in 2021, there are 420,000,000 in total with 105,000,000 of each image. Total market cap of each of one of tokens upon completion of the sale would be $811.
Distribution of the 420,000,000 tokens included a 20,000,000 airdrop on 420 and then remaining tokens are available at a set BSV price 0.00000003 BSV per token.
Markets: Weed Fiendz
This is Banana Stickers from @uxcat, it is a token for a bit of fun. The 🍌 is backed by the pathos of the Republic.It is pegged to the cultural hegemony of parthenocarpy.🍌 represents participation and proliferation of a small-world-network that is welcome to anyone but greyface. Take that statement as you will, there is no road map but they boast an organic 🍌 distribution plan.
Distribution of the 1,000,000 token appears to be through airdrops and sales on the market, i did not get much more info from the creator.