Binance Ecosystem will distribute $16 million worth of Swipe (SXP) for 12 weeks to users who hold Binance Coin (BNB). The campaign started on 17th of August and a total of 4 million Swipe Tokens will be credited to Binance users who hold a weekly average of at least 0.1 BNB. Breaking down in weeks, approximately 333,333 are allocated weekly. The individual BNB holding ratio will be equal to the BNB holding divided by the daily average of the total BNB holded on the platform. The reward can be checked by clicking > Account Center > Wallet > Distribution History. The Swipe Token (SXP) is built on the Ethereum platform, and powers the services delivered by Swipe. It has a deflationary financial supply as all transaction fees will use SXP. Swipe is currently ranked 77 in the Market Cap Rank and has a value which soon go back to $3
The share of SWP for Week 1 of the promotional campaign was credited on Wednesday, without any issues. The share I got for holding 5.3 BNB during the week was 0.02588 SXP, which makes the rate for the first week at 1 Swipe Token per 204 BNB.
The 5.3 BNB value was $110 and the value of the distributed SXP was $0.074. From the above weekly rate, the approximated distribution rate is $3 for $4500 worth of BNB. Users will be credited their share of Swipe even if the Binance Coin is kept into the Flexible Savings account, tested and verified by me.
The reward rate was 0.067% of the BNB amount, but the rate can get smaller or bigger, depending on the total amount of BNB users are holding on the Binance platform. At the current rate, I forecast that I will be rewarded 0.32 SXP, approximately $1. I plan to invest some residual income in BNB, to hold them for 12 weeks and get more SXP, and then swap for whichever project I find interesting.
Why holding Binance Coin (BNB) for 12 weeks is triple-win?
- Binance Coin value will keep an upwards trend, because Binance is the most used exchange and they also offer some discounts for using and buying BNB. Therefore the value of the initial investment will grow at a steady. All assets on Binance can be bought with BNB so the coin was great flexibility and utility. The previous 12 weeks period recorded a 39% growth, when the BNB price went from $16.10 to $22.40, adding $6.30 to the value.
- Binance Savings offers 0.27% estimated Annual Yield for Binance Coin, this may look low but at the end of the day is extra revenue for keeping the asset in there, ready for new investments. The flexible savings system offers instant withdraw from the pot so the BNB is never locked in there, adding easy access to the flexibility and utility.
- The Swipe (SXP) airdrop and the great potential of Swipe gives BNB holders an extra incentive, and the chance to add another asset to the portfolio. After spending the most of 2020 under $1, the price per unit started to rise since mid-July and reached the All-Time High on 13th of August, at $4.98. Now being a valuable member of the Binance ecosystem, Swipe will become more attractive and will maintain the upwards trend.
My author page: PV Mihalache
Join Publish0x to earn crypto (Ethereum, BAT & Loopring) while you read or write!
* If you decide to join any, please consider using my referral link