After 2018, most of us were left holding some coin we wouldn’t sell at a loss. If you still believe in an erc-20 project, one you can’t bring yourself to let go of, then BAGS might have the use case for you.

Change your bag of tokens to BAGS token

The team at BAGS will trade or “upcycle” any erc-20 you hold for up to 50 BAGS. Your token must be older than 07/02/2019 (BAGS launch) and be over a penny in value to qualify. The swap requires a penny’s worth of your holding for each BAGS token received. This currently gives users 7 times the value held as collateral in an upcycle, BAGS is trading at $0.07.

BAGS token breakdown

BAGS’ maximum supply is 1 million, with the team keeping 10%, marketing allocated 10%, and airdrop plus upcycling taking the other 80%. The deflation rate starts at 2% on transactions over 10 tokens, for the first year. Every year, the burn rate is halved until it stops at 0.25%.

BAGS, helping you feel lighter

This is an interesting form of crypto insurance, a hedge against your bet losing more value. Disinflationary supply assets like gold and BTC are usually thought of as a hedge against inflationary supply assets. Here you have a hyper deflation token hedging against ICO’s and shitcoins, like a turbo hedge.

BAGS, they hold what you don’t want to

I’m interested in how they shape and market this token. It’s clever use case could get skeptics interested in a deflationary token. With the number of crypto bag holders out there, BAGS might build some of the biggest demand in deflation. The marketing on this one could be taken in a number of directions and a creative mind should be able to poke a lot of fun at other cryptos. Too bad XRP isn’t an erc-20 token.

The community has already spread around the globe and spans many languages on social media. They have a clear website that explains the 5 steps to swap into BAGS. If you want to buy instead, BAGS trades mostly on DDEX.

BAGS Telegram

BAGS Twitter

BAGS Reddit

BAGS Medium

BAGS Discord