Good morning Publish0x community and welcome back in this new article of my “Easy & Short Cryptocurrencies Made Accessible” area.
In this article we talk about more features of Swipe!
In the last E&S article I introduced you Swipe (SXP) and I said that Swipe wants to position itself as a company that provides users with prepaid cards that allow them to spend their cryptocurrencies directly. Swipe is a company which offers a host of cryptocurrency related services including a multi-currency wallet, cryptocurrency debit cards, cryptocurrency payment solutions for merchants, cryptocurrency borrowing, cryptocurrency savings, and custom cryptocurrency debit card issuance.
For those who have been following Swipe for a long time will have noticed about its recent update, made in May 2021, where it revolutionized the plans a bit. Before, in fact, Swipe gave you the possibility to choose between 4 different cards, each of which had specific advantages. Now, instead, it offers two types of cards: Standard and Premium.
The Swipe (SXP) Token is the native cryptocurrency that powers the Swipe ecosystem of products and governs the decentralized protocols. SXP has had full utility since deployment and continues to add more utility.
- Fees & Discount: Our business partners must use SXP to pay for our services provided to them and it will give them eligibility for discounts by staking.
- Governance & Staking: SXP token holders have the ability to create proposals and vote for protocol changes on the Swipe Network. SXP can be bonded within the network to secure the protocol and receive staking rewards.
- Transactions & Payments: Swipe users can uilize SXP to pay at over 60 million merchants worldwide and transfer within the Ethereum and Binance blockchains.
- Liquidity Mining: SXP is available on the Venus Platform where users can earn a yield curve rate based APY and participate in the liquidity mining programs available. SXP is also available for liquidity mining on other protocols not affiliated with Swipe.
The Swipe Token (SXP) is the fuel and native cryptocurrency of the Swipe ecosystem of products and services. The token economics have been designed where the total supply decreases over time as the network is utilized.
Swipe Governance enables SXP token holders to vote and initiate proposals on the Swipe Network. With this protocol and with the SXP token upgrade, all centralized control and admin keys will be destroyed, and the protocol will only be governed by the community.
Swipe Governance will also be able to adjust all smart contract dynamic parameters such as but not limited to:
- Burn Rates
- Rewards Rates
- SXP Requirement minimums
- Transaction & Trading Fees
- Interest rates
- Adding Tokens
Swipe Staking is an on-chain protocol and single asset vault that enables users to participate in the
collateralization of the Swipe Network that powers real-time cryptocurrency to fiat conversions.
Users will be able to wrap their Ethereum based SXP token with a Binance Smart Chain based SXP token for a 1:1 (one to one) ratio or vice versa. SXP that is staked within the staking contracts can be used to vote through a voting proxy contract to be implemented at a later date.
If you've been following me for a while, you probably know what is staking. We have already talked about it in several articles and I personally published a couple of video-tutorial, where you can earn up to 11% on TRX staking and up to 8% on ALGO staking. If you missed these two tutorial I leave you the link below.
A fully decentralized NFT Marketplace that anyone can deploy NFTs on and list them for sale exclusively to purchase with SXP & SRT only. 5% of this SXP is burned automatically by the smart contracts and 10% goes to content creator royalties.
With this second article about SXP we have discovered new things about this project! I would like to know your opinion about Swipe!
Next week I’ll introduce you a new cryptocurrency!
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See you soon!