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.
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.
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