On December 15th, Bounce Brand launched a new round of Launchpad project called BDID. After the IDO ended, its trading price reached 15 times the IDO price. However, it has been reported that there has been continuous selling in the past two days, causing the BDID price to plummet. According to data from geckoterminal, as of the time of writing, the BDID price has fallen to $0.015.

What does BDID actually represent?

BDID is the native token of the DID market aggregator GoDID, which functions include bulk search, registration, trading, and management of various DIDs. On December 11th, GoDID announced a partnership with the decentralized auction platform Bounce Brand, and subsequently, its subsidiary platform bdid.io issued the token BDID, which focuses on the BTC ecosystem. On December 18th, GoDID completed a new round of financing led by NGC with a valuation of 30 million.

What is the concept of a valuation of 30 million? At that time, the market value of BDID was 22 million, and it was only a token released by a subsidiary platform under GoDID. This amount raised questions from the community, "What does BDID represent?" "What will investors get in return for their investment? Company shares or another token issuance?"

The origin of BDID can be traced back to May 2nd of this year, when GoDID released a BRC20 token called DIDS. Until the end of last month, the official GoDID social media platform announced that it would airdrop tokens to holders of DIDs (BRC-20) according to certain rules.

Two days after announcing the airdrop, GoDID announced again that it will airdrop native GoDID tokens to holders of DIDs tokens (BRC-20), thus giving birth to BDID.

However, on December 15th, BDID participated in the new Launchpad project of Bounce Brand. There are three participation modes, which are using AUCTION to purchase lottery tickets for lottery, using AUCTION to pledge and obtain allocation proportionally, and using stablecoin DAII to pledge and obtain allocation proportionally. After the auction ended, BDID was listed on Uniswap, with a DEX trading volume exceeding $12 million.

Related reading: "Apart from the soaring AUCTION, what other "golden shovels" are worth paying attention to in the market?"

The promised airdrops were all used for IDO, and out of the total of 500 million BDID tokens, the 25 million mining airdrops were only available to MUBI, BSSB, AUCTION, and WBTC. It is not surprising that GoDID is accused of being "unambitious".

"Golden Shovel" affected, Bounce coin price drops

Currently, affected by BDID, AUCTION, MUBI, and TURT, previously known as the "golden shovel" of the Bitcoin ecosystem, have all experienced a decline.

Bounce Brand's Launchpad adopts a "kill two birds with one stone" strategy to launch token issuance, with two independent teams jointly issuing a token. The project's identity is kept confidential and participation is done through AUCTION and BitStable's stablecoin DAII, with two auction pools set up. On the day of this announcement, the AUCTION price rose sharply, with a 24-hour increase of 47.5%, but currently, the price has fallen to $40.

MultiBit is a bridging protocol that appeared in May of this year to connect BRC20 assets to the EVM network, allowing users to seamlessly transfer tokens between the ETH chain, BNB chain, and BTC network. On November 12th, Bounce Brand completed the launchpad for MultiBit (MUBI), with an IDO unit price of 0.00047 USD and a fundraising of 88 ETH, during which the return exceeded 80 times. Like BDID, another project on Bounce Launchpad, the price of MUBI fell to 0.32 USD.

As an IDO platform for the "BRC-20 Experiment" Ordinals ecosystem that incubated MUBI, TurtSat was also affected by this turmoil. According to coingecko data, the price of its native token TURT fell to $0.08.

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