BDID, known for "saying one thing and doing another," has also affected the "Golden Shovels."
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BDID, known for "saying one thing and doing another," has also affected the "Golden Shovels."
BDID prices plummeted, with the platform GoDID and its project team accused of being "short-sighted."
Navigating Web3 tides with focused insightsAuthor: Luccy
On December 15, Bounce Brand launched a new Launchpad project, Bdid (BDID). After the IDO concluded, its trading price surged to 15 times the IDO price. However, in recent days, continuous selling has been reported, causing BDID’s price to plummet sharply. According to data from Geckoterminal, at the time of writing, BDID had dropped to $0.015.
What exactly does BDID represent?
BDID is the native token of GoDID, a DID marketplace aggregator offering features such as bulk search, registration, trading, and management of various DIDs. On December 11, GoDID announced a partnership with decentralized auction platform Bounce Brand. Subsequently, its sub-platform bdid.io issued BDID, a token focused on the BTC ecosystem. On December 18, GoDID completed a new funding round led by NGC at a $30 million valuation.
What does a $30 million valuation mean? At that time, BDID already had a market cap of $22 million—despite being merely a token issued by a sub-platform under GoDID. This raised questions within the community: “What exactly does BDID represent?” and “What do investors receive in return—the company's equity or another newly issued token?”
The origin of BDID dates back to May 2, when GoDID initially launched a BRC-20 token named DIDS. By the end of last month, GoDID officially announced on social media that it would conduct an airdrop to holders of the DIDS (BRC-20) token according to specific rules.
Two days after announcing the airdrop, GoDID posted again stating that holders of the DIDS (BRC-20) token would receive an airdrop of GoDID’s native token—thus BDID was born.
However, on December 15, BDID participated in Bounce Brand’s latest Launchpad event. There were three participation methods: purchasing lottery tickets using AUCTION, staking AUCTION for proportional allocation, and staking the stablecoin DAII for proportional allocation. After the auction ended, BDID was listed on Uniswap, achieving over $12 million in DEX trading volume.
The promised airdrop was entirely redirected to the IDO. Moreover, out of the total supply of 500 million BDID tokens, only 25 million allocated for mining rewards were designated for MUBI, BSSB, AUCTION, and WBTC holders. Given these circumstances, suspicions labeling GoDID as “scammy” and accusations of lacking integrity are hardly surprising.
“Pickaxe” tokens dragged down as Bounce suffers fallout
Currently, due to the impact of BDID, previously celebrated "pickaxe" tokens in the Bitcoin ecosystem—AUCTION, MUBI, and TURT—have all declined together.
Bounce Brand’s Launchpad uses a “two birds, one stone” strategy for token launches, where two independent teams jointly issue a single token. Project identities remain confidential, participation requires either AUCTION or BitStable’s stablecoin DAII, and there are two separate auction pools. On the day this news was released, AUCTION’s price surged significantly, rising 47.5% within 24 hours. However, it has since retreated to around $40.
MultiBit, a bridge protocol launched in May enabling BRC-20 assets to connect to EVM networks, allows users to seamlessly transfer tokens across ETH, BNB, and BTC chains. On November 12, Bounce Brand successfully completed the MultiBit (MUBI) Launchpad at an IDO price of $0.00047, raising 88 ETH, delivering over an 80x return during that period. Like BDID, MUBI is also a Bounce Launchpad project; however, its price has now fallen to $0.32.
TurtSat, the IDO platform behind the “BRC-20 Experiment” and Ordinals ecosystem that incubated MUBI, has also been affected by this incident. According to CoinGecko data, its native token TURT has dropped to $0.08.
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