The first DEX trading Bitcoin has arrived - will it succeed? - SatoshiDEX
A few hours ago I was tempted to make a significant investment in a project that promises to be something big for 2024, because it is the launch of the first DEX to operate with Bitcoin in its L2, don't you think it is something interesting, the idea of having a DEX available in Bitcoin layer 2 is something that would be useful for many of us.
But before any investment we always have to make a previous investigation of each project, for this reason here I will be showing you useful information that you can take into account in case you want to invest in this project, because at this moment there are only a few days left for the presale of your token to end...
Image by SatoshiDex - Edited in Photoshop CC
Table of contents for this article:
♦️ What is SatoshiDEX?
♦️ Why so much interest in the Project?
♦️ Are there similar projects running on the Bitcoin network?
♦️ Why does it have so much support by the community and what milestones has it achieved with pre-sale fundraising?
♦️ What could be the value of the SatoshiDEX SATX token after the presale?
What is SatoshiDEX?
The name of the project I will talk about today is: SatoshiDEX.ai, this is a decentralized exchange (DEX) that operates on Bitcoin layer 2 (L2). This means that it offers the security and decentralization of Bitcoin, with the speed and efficiency of a L2, plus commissions or fees much cheaper than operating directly in the $BTC network, currently, the SatoshiDEX project is in development phase, and that is where the interesting point comes in, because if we become users who have some kind of participation from the beginning, we can have good profits when this DEX can become popular and very useful, but there is also the risk that it does not work as well as we hope.
And I say this because so far I have not been able to find information about the founders of the project, let alone know what is the total team that makes up all this, that's already a negative point, because transparency is crucial in the Crypto world, and it would not be bad to know who are behind this DEX ....
But still, I have my reasons to see a potential in the project, otherwise I wouldn't be writing this article, so let's move on to show you a little more about SatoshiDEX.
Why so much interest in the project?
My interest, as well as that of many more users in SatoshiDEX lies in their innovative proposal to bring the flexibility and innovation of the exchange to the Bitcoin blockchain, and this is something that has not been seen before, what's more, in their initial description of the project they proclaim themselves as: The world's first Bitcoin DEX.
Furthermore, the project has successfully raised $700,000 in Stage 1 of its pre-sale in just 48 hours, that is absolutely insane, and in large part, this is what highlights the interest in Bitcoin Ecosystem projects in the crypto space, as BTC is the main currency in everything, only there are very few applications or Dapps that can use its network for some kind of activity other than buying and selling, and when new ideas come out hosted with the use of the Bitcoin network, users are interested in seeing what it is all about.
And much of the interest in the project is the presale of its native token which will be the $SATX, a token which has different stages of presale and in each of them a higher value is reached, currently the token is in the presale of round number 12, with a value of 0.01966$, and this round is about to end to start round 13 which will be with a value of 0.02163$ for each $SATX token, and for its completion of presale there are only 6 days left at the time of writing this article.
This token will have a utility, according to its roadmap, because with this token you can have the possibility of:
♦️ Staking Rewards.
♦️ Greater governance in the platform.
♦️ Discounts on transactions.
Among others, besides this project will give us the option of liquidity pools, in which you can contribute your liquidity and in return they will give you the $SATX token as a reward, that is something interesting to see.
Similarly, this project is much more extensive, but I recommend you to investigate it further on its official website.
Are there similar projects running on the Bitcoin network?
To date, SatoshiDEX stands out as a pioneering decentralized exchange operating within the Bitcoin network, as I am not aware of a similar project, and that is what makes it so special for many users, and part of that motivates them to invest in the pre-sale of their token.
But this project reminded me a bit of the great impact that had at the time the issue of Bitcoin Ordinals with the $SATS token, they are not similar things or projects with the same ideology or use cases, but it is to get an idea of what to expect.
Why does it have so much support from the community and what milestones has it achieved with the pre-sale fundraising?
SatoshiDEX has managed to raise $9,809,081 in total up to this point, and this is certainly a large amount of money raised in a very short time for a project that has not yet launched its token, keep in mind that this amount of money has only been raised with the presale, and very soon it will reach $10M.
This financial backing has allowed the SatoshiDEX team to advance in the development of its Bitcoin DEX, now we just have to wait for them to really fulfill their roadmap, because we have to keep in mind that in the crypto world there are many scams, and no matter how good a project appears to be, it can end up being a total farce, so I will limit myself to just say (Research very well on your own every investment you want to make)
Could this be a Scam with the SATX token pre-sale issue?
While it is true that there are risks associated with any cryptocurrency investment, especially in the pre-sale stages, it is important to perform thorough due diligence before investing, and I say this again as I have found something a bit curious, this may not make much sense, or not be something strange to see for many, but I have noticed that while researching about the project, in a period of 2 months ago, the articles that talked about it referred to the project with the name: de Satoshiswap.ai, a domain name different from the current one which is - SatoshiDEX.ai, I will just leave that as a curious fact and it would be good to know your opinion in the comments of what could be the reason for this change in a period of 2 months.
This may be something insignificant, but we could be facing a possible scam, or not exactly a scam, but the impact of the token at the time of public sale, may not be the expected by many, all this I do from a neutral point of view so you can see the two versions of the project, both in a prosperous vision where everything goes well, and a somewhat darker vision where everything goes wrong.
What may be the value of the SatoshiDEX SATX token after presale?
Determining the future value of a token is a complex task that depends on many factors, including project adoption, market demand, and general economic conditions. In the pre-sale, the SATX token sold for $0.00154 at its initial values, so whoever has bought in that range, as of today are already making gains on the appreciation of their tokens, as the current sale value is much higher.
However, the final value of the SATX token once it is available after the pre-sale is uncertain and will depend on market dynamics, plus if you participate in the pre-sale of the token you will not yet visually have the token in your Metamask wallet, as a contract has not yet been created to host the token.
I would say that it is a promising project with the potential to revolutionize the DeFi space in the Bitcoin network, but I still recommend to analyze everything very well, in the end, I have not invested in its presale, but I bring you this information, maybe later everything ends up being a total success and that is where I will create another article to tell you about it, but for now I end my article today, thank you very much for reading and I hope you have a happy day.
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