Could Saitama BSC Be Another 500x Gem?
Hogefather dives in to find out
By Hogefather, aka Jesse J Rogers
Disclaimers: This article is purely educational content sponsored by Saitama BSC, and should not be misconstrued as financial advice. The author currently owns tokens, but makes no promises of taking on a leadership role of any kind in the Saitama BSC project or community. Cryptocurrencies are an inherently volatile asset class, so never spend more than you can afford to lose on any digital asset. To learn how to get started in crypto, click here.
Forty dollars can go a long way in a young project.
That’s what I learned when Waifer took off and provided me with more than a 350x+ return. It pretty much single handedly rescued my portfolio after some terrible decisions I made throughout this year. And if you grabbed your bag when I first told you about it, then you also saw those returns. Congratulations!
Now, I can’t promise lightning will strike twice and there’s obviously no guarantee that I’m going to be able to hand you a gem like that every time.
But I am going to describe another project that I think also has explosive potential. Read all the way to the end and do your own due diligence before you make any decisions or take any actions. Crypto markets move quickly, but definitely not so fast that you can ever afford to skip doing your research.
I’ll point you to the places that I think are worth examining, and by the end, since I’ve already been paid to write this whether my sponsor loves what I have to say or not, I’m going to give you my most candid and straightforward perspective.
If so, then let’s get into it.
What is Saitama Inu?
Following in the footsteps of Dogecoin and Shiba Inu, Saitama Inu is a meme-powered, community-driven project that has seen explosive growth. Its market cap has risen to a jaw-dropping $8 billion. This is despite being only a few months old, and not yet having a single tangible deliverable to market.
Ever since HOGE pioneered the marriage of memes with deflationary reflection tokenomics back in February, just about every new project since then from Safemoon to Cumrocket has copied that model. Saitama Inu is no exception.
Much like HOGE, Saitama is a project that its community took over after the original devs abandoned the project. Moreover, Saitama emphasizes the urgency of educating people everywhere about DeFi, and building an ecosystem with marketplace utility.
I share their hopes and wish them well, but I’m convinced this iteration of Saitama Inu is eventually going to run up against the same brick wall that HOGE did when we stalled out: Ethereum gas fees.
…and that’s where Saitama Inu BSC comes in.
What is Saitama BSC?
Saitama BSC is a humorous iteration of the Saitama Inu meme running on the Binance Smart Chain. It was created by an anonymous group of HOGE community members who plan to test out new features of the HOGE ecosystem.
For example, part of Saitama BSC’s taxes will be sent to deepen liquidity, while a very small portion of the tax (0.67%) will be sent to the HOGE Association as part of an experimental revenue generation model. This will make participation in the DAO more meaningful, because there will be funds in the treasury, courtesy of speculators.
HOGE, so the hope goes, will then in turn have an incentive to back Saitama BSC despite its much smaller size. After all, Saitama BSC solves one of HOGE’s major pain points. If Saitama BSC succeeds, then that would be able to fund the DAO and finally give it functionality as a kind of community-controlled dev wallet.
According to the website, there are a total of four components to the Saitama BSC ecosystem: a wallet, a marketplace, a mint, and educational resources.
Will this ambitious plan actually get built out? I think that depends largely on how the Ethereum-based HOGE and Saitama projects respond. Will they allow it to plug together with their own ecosystems into one super-system, to the mutual benefit of everyone? Will it be a bridge between these larger projects?
Or will they see this BSC-based wolf as a competitor and go for the throat?
Maybe they’ll just ignore it?
I have no idea how HOGE and Saitama Inu will recieve Saitama BSC. No one knows. But signs point to the possibility that there could at a minimum be acceptance and support on the HOGE side. Here’s an excerpt from one of Davepool’s recent Reddit post:
What is it?
Saitama BSC started out as a generic token meant to be a real-time experiment to determine the viability of HogeSwap and all of its features. While a testnet version was contemplated, we decided that to really run the capabilities of HogeSwap a live one should be used (with real money) or else interest would have waned too quickly and it would have only been stress tested with only a few amount of people. As for the name itself, it is a tokenization, among other things, of an actual city in Japan as well as being partially tongue in cheek of a popular anime character.
This token is not made by Hoge, not endorsed by Hoge, not maintained by Hoge and not supported by Hoge. There is zero official affiliation. However, this token was was conceived and developed by some OG Hoge holders with the primary intention of using it as a full-on test bed for HogeSwap and most importantly to bring revenue to Hoge.
EverOwn Partnership — the token itself was deployed and launched and its contract was already given to a multi-sig wallet with the same OG Hoge holders. The smart contract will now be transferred over due to our newly formed EverOwn partnership — shoutout to Wasso!!
Audit — A successful audit was already done by TechAudit with a second audit being onboarded as well.
Ownership — the contract is not renounced but will give custody to EverOwn as a third party. However, the token is not really owned or ran by any one person at the moment. If anything, as inspiration would have it, the token is yet again literally a “community” token. Whatever happens to the token will be up to the community and whomever wants to run with it.
[Saitama BSC] has a 2% burn and a 2% liquidity pool provision. The LP provision is able to be subdivided into any ratio. For this liquidity pool, it was determined to put .67% of the 2% back into the Hoge DAO/Association and the rest into its own liquidity pool. In other words, any buy/sell of this token would generate .67% for every trade on HogeSwap and an additional .67% due to a buy/sell in that tokens tokenomics that were dynamically determined by the stakers. In other words, every trade made by this token would generate 1.33% back in fees to the Hoge DAO/Association.
Moreover, depending on however stakers want to pursue subdividing the LP provision, the community will be able to convert the remaining 1.33% of the LP fees (remember .67% is earmarked to the Hoge DAO/Association) to whatever they’d like — including tech development, marketing, exchanges and so forth. On the flip side, they can give the 1.33% back to the Hoge DAO/Association as well — the beauty of being both DeFi and powered by DAO features.
Still, even if all goes well there are so many possibilities of what could happen next, and many of the most impactful variables are outside of the direct control of Saitama BSC’s developers.
Therefore, my calculation is that there’s enough upside for me to be willing to place a small bet. If you want to do the same and see where this goes, then may the odds ever be in our favor, fellow degenerate. The BSC contract address is:
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