Danake is a market where any project can pay the holders of a dead token to burn their bag and join it, priced on what each wallet actually lost.
What Danake is#
On a launchpad chain almost every token dies. Holders are left with a bag that is worth close to nothing. Projects that want real holders can only airdrop by balance, which rewards snipers and bundles who bought cheapest.
Danake prices a proven loss instead of a balance. A project opens an offer, called a Fare, on a dead token. Holders who burn their bag during the Fare window are paid in the project's token, in proportion to what their wallet paid for the bag minus what the bag is still worth. A wallet that bought cheap and holds a bag worth more than it paid has no proven loss and gets nothing.
Every Fare is a voluntary offer made by a third party. Nobody owes a holder anything. The protocol only makes the offer precise, public and checkable.
The name#
A danake was the small silver coin the Greeks placed in the mouth of their dead to pay the ferryman. Danake runs on Elysium, an L2 named after the Greek afterlife. Here it is the coin that carries holders of a dead token across to a living project.
The four terms#
| Term | Meaning |
|---|---|
| Roll | The loss ledger of one dead token at one snapshot: for each wallet, what it paid in HYPE for the tokens it still holds, minus what they are worth. Only tokens the wallet bought itself count; tokens received by transfer cost zero. |
| Fare | An offer. A payer deposits a budget (any ERC-20, or WHYPE) and sets the rules: target dead token, snapshot in the past, max rate per HYPE lost, cap per wallet, vesting duration, optional Stay clause. |
| Crossing | A holder burns their bag during the Fare window. At close, the budget is shared pro rata to proven losses, never above the max rate; surplus returns to the payer. Payment is streamed over the vesting period. |
| Stay | Optional clause: the stream continues only while the wallet still holds what it has already received. If it sold, the rest returns to the payer. |
A fifth term is planned. The Ferry is one free crossing per week, funded by protocol fees, to a dead token chosen by stakers. It needs $DANAKE, which does not exist yet. See The Ferry.
A burned bag is used once. When two Fares target the same dead token, the holder picks the better one, so payers compete.
Who it is for#
- Holders of a dead token. If your wallet bought a token that died, your proven loss may be worth something to a project that wants you. See Crossing.
- Payers: a live project courting a dead rival's community, a team relaunching as v2, a community takeover, or a launchpad courting traders rugged elsewhere. See Fares.
- Integrators and launchpads that want their trades to be readable by the Roll without an indexer. See Integrations.
Where it runs#
Danake is live on the Elysium testnet (chain id 99801). Testnet tokens have no value and testnet timings are shortened. Start with the Testnet guide, or read How it works first.
$DANAKE is not launched. See $DANAKE token.
Follow#
The only official channel is X.