Greetings and courtesy of the great ICP community
The BABYAROF project has been operating on the ICP blockchain for more than 1.5 years. BABYAROF is funded by the sale of AROF artworks.
In the first step, BABYAROF’s only goal was to pump and accelerate the development of the AROF token idea, but after many other events and challenges, the creation of the AROF token was stopped.
Today, the BABYAROF token has been active for more than 7 months as one of the most decentralized tokens on the chain. BABYAROF token standard is DIP20.
BABAYAROF token has one of the most special transaction structures. Transferring BABYAROF tokens between wallets has no fees, but each transaction will deduct 3% of the BABYAROF token volume.
The BABYAROF token controller is abandoned in the black hole. Also, BABYAROF token liquidity documents were burned. Therefore, there is no access to the controller, nor the possibility of transferring the liquidity of this token.
In the last 1 year, the ICP chain experienced many changes and had a significant growth. As one of the first tokens on the chain, BABYAROF has always done its best to inspire and help the community grow.
The BABYAROF team intends to provide this token to the community in full, but there are challenges for such an action, in this regard, an idea has been proposed that we intend to share with the community to discuss this idea.
Creation of BABYAROF token with ICRC-1 standard
Note: BABYAROF team had less than 4% liquidity, this share was spent after creating a trading pool with COE tokens, today, whatever amount BABYAROF team keeps COE tokens, money has been paid for these tokens and It is not part of the development team.
We hypothesized that if BABYAROF creates a new token with ICRC-1 standard, it can create a 1:1 pool and enter SNS.
But it is impossible to realize such an idea with the conditions of BABYAROF token, the nature of BABYAROF token is deflation, you can never make a 1:1 pool with this token because in any case it will deduct 3% fee for each transaction and the balance in any way from 1:1 mode is exited.
We think BABYAROF token as a classic token with DIP20 standard and with a different structure can remain in the chain and be used as a support for new tokens.
BABYAROF can continue to burn up to more than 90% liquidity, in such a situation in the future and with the growth of BABYAROF token transactions, we can imagine a bright future for BABYAROF on the chain.
Now there is an issue that causes concern, is the DIP20 standard always supported? Can we hope that in the future we will be able to store standard DIP20 tokens in NNS?
Please guide BABYAROF, if there is a way we can make this token fully available to the community with BABYAROF token conditions, be sure to suggest. And of course, express your opinion about this topic, do you think we can one day store DIP20 tokens in NNS?
Our opinion is that currently, with the current conditions, the transparency of DIP20 tokens is much higher than the ICRC-1 standard.