Ninja Swap - A promising project that died slowly due to inactivity
Ninja Swap DEX on the Binance Smart Chain started the promotional campaign by highlighting the Automatic Minting Offering (AM0) and the fair Tokenometrics set-up. Was at the time when new project where blooming on BSC and this looked promising and innovative, with Yield Aggregators and Lending-Borrowing Platform to be implemented.
The dashboard was user-friendly with DEX, Farms, Stake, Bounty, AMO, CAKE Airdrop, Ninja Starter, Analytics, One Pager easy to access. Everything was powered by the $NINJA token and compared with other existing DEXs, Ninja Swap was supposed to make an impact.
Got some $NINJA airdrops, and made sure I will get some bounties thorough their bounty page. I even recommended others to check it out and wrote the Ninja Swap bounty program - create content and earn rewards ninja style!
I staked all the $NINJA tokens I had and left them there for months, because the much expected market penetration didn't make the big impact as the timing was the worst possible. The big event took place at the start of the long market crash and the $NINJA price went from $0.40 to $0.10 as a result. Nothing new happened since then and I forgot about Ninja Swap until few days ago!
The place looked abandoned, like the team just abandoned the project. I unstaked my NINJA stash and headed to the exchange to see if there was still value in the tokens. Will I get anything for 68 Ninja tokens or I will keep them in the wallet as an ancient artifact that has no use.
I am not sure if the whole project was created to be a rug pull or not but was weird to see that liquidity was still available and I could still sell the tokens. If this was a scam project destined for a rug pull, the market crash ruined the evil plan as no one had interest to invest into Ninja Swap. The value per NINJA was $0.122 and I was able to cash out for $8.33 USD. It's strange to see that a project that looked promising is now just a shadow of the past.
I am still wondering why money was still available in an abandoned place but to be honest... I don't care! The small bag of BUSD went to Pancake Swap, where I bought half of CAKE.
* NinjaSwap made a comeback in December 2021 but for me that's few months to late. The rewards, which were supposed to be sent in August, were sent to the contributing users ... but again... few months to late. For me the shadow of doubt remains and is nothing that can change my mind.
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Though I never followed through, I appreciate your update on how it ended, or not ended. It seemed to me to be a lack of faith by the creators. There's more to a successful project than a good launch!