(ERC-20) 0x51Ff4c66c03CD8A95104AC4768210b8C498d3C5a

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SXP Token Deflation

When transactions occur on the Swipe Network, 80% of the fees, which are denominated in SXP, will be automatically burned by smart contract (Source). The rest of the fees will be retained by the smart contract. In the future, Swipe plans to distribute the fees collected via a Proof-of-Stake mechanism to network validators. All transactions are updated directly onchain, and then reflected within the Swipe API to notify users of the Swipe Wallet, Source.

For the calculation of the price always the last price on the respective day is calculated, Source.

SXP On-Chain Staking

Swipe Announcement

Swipe announce that after the Venus Protocol launchpool event (October 29th 2020) it will add the remaining 20,000 SXP daily off-chain staking rewards previously available on Binance to the daily on-chain rewards which will double the current rewards for those securing the Network.

The Swipe Network is a decentralized finance application that enables users to bond Swipe Token (SXP) to a smart contract to guarantee the conversion rates between crypto-to-fiat.

Users who stake SXP and bond it to the Swipe Network will receive their proportionate share of the Network Rewards currently set at 20,000 SXP per day (40,000 SXP after Venus Protocol launchpool). This number is dynamic and can be controlled later through the Swipe Governance protocol.

  • You will have to stake on SXP Network via Metamask or Trust Wallet
  • APY depends on total number of stake coins
  • The SXP are locked but can be unlocked manually
  • Rewards updated daily 00:00 UTC and can withdraw weekly
  • Minimum 1000 SXP required
  • You can withdraw your stake anytime, no bonding or lockup

How does SXP Staking work?

Swipe Network is live on the Ethereum main network. Users can access app.swipe.org or directly interact with the contract ABI to begin staking SXP on chain to collateralize the protocol to earn rewards. More info can be found on docs.swipe.org.

Twitter News

Starting today, #Swipe Visa Card holders can spend #fiat directly as a funding source.

Spend USD, GBP, & EUR while earning up to 8% cashback in #BTC, $SXP or #BNB

This will be a pilot program for a minimum of 3 months

πŸ‡ΊπŸ‡Έ πŸ‡¬πŸ‡§ πŸ‡ͺπŸ‡Ί residents can order now πŸ‘‰ http://sw.pe/Cards

This is an awesome analysis of Daily $SXP Burn made by @TheBusinessZen πŸ‘πŸ‘πŸ‘

Google spreadsheet link in comments if you want to explore more of his analysis (totally worth it)

$SXP $XVS @JLSwipe

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