Swipe is a platform that looks to form a bridge between the fiat and cryptocurrency worlds with its three main existing products: the Swipe multi-asset mobile wallet, the Swipe cryptocurrency-funded debit card and the Swipe Token (SXP).
The Swipe wallet acts as the main access point to the Swipe ecosystem and can be used to store and manage a wide variety of assets — including both cryptocurrencies and fiat currencies. The wallet can also be used to manage Swipe's second product — the Swipe debit card. This debit allows users to spend their cryptocurrencies at Visa payment terminals and comes in a variety of flavors, each of which offer increasing perks and benefits.
This ecosystem is powered by the Swipe Token (SXP), which functions as the fuel for the Swipe Network, and is used for paying transaction fees. Holders of SXP tokens are eligible for exclusive discounts on the Swipe app and the token can be used for making fiat payments with the Swipe debit card.
First, Swipe has a properly functioning product, which is something most crypto projects don’t have. The app now works perfectly and allows you to buy, sell, and transfer crypto without fees.
Second, as I mentioned the ecosystem is powered by SXP. When someone uses the network, SXP gets burned. The burn rate is increasing steadily. See picture. This means more and more people are using the product.
Third, you can stake SXP to secure the network for 25% APY. Not only that, SXP is one of the few projects that is true cross chain projects. It uses both Ethereum’s and Binance smart chain (BSC) chains. BSC is incredibly fast and cheap. It allows you to interact with your SXP for like 1% of what it would cost on Ethereum.
Fourth, sometime soon the Swipe cards will be migrated to Binance Card Platform (BCP). Don’t worry, BCP also uses Swipe’s network and you’ll still be able to stake SXP for the benefits.
Lastly, SXP has a very good TA. It’s ATH was USD 5. It found its bottom at around USD 1. Now its price and volume are increasing. SXP is ready for a moon mission.
Can somone explain why biz hates this coin so much?
Jonathan Parker
SImple. See this charts .
A lot of people from Biz invested into SXP right before it went down 75%. They fomo'd into SXP and got burned. It's very hard to see something objectively if it costed you money.
But it's not SXP's fault. At that point of time SXP was doing +20% EVERY DAY. Such growth was not sustainable.
The burn rate is so low, it won't have any effect on the total supply. Even if the burn rate doubled or tripled
Jose Rogers
The burn rate should increase more than 3x after the physical binance are shipped and the promotion begins. Also, there is the IWO that will happen soon, which should burn a few million sxp each
Dylan Evans
daily reminder that Binance and Swipe have 200 million from the non circulated supply they can dump. It's nothing compared to what gets burned on a yearly basis (about 4 million). Also why does Swipe team does not provide evidence to clear this up;
According to the official Swipe whitepaper, the current circulating supply of the $SXP token is 78M as of November 2020 (Founder: 10M + Reserve: 8.4M + Team: 10.2M + Public Sale: 19.56M + Private Sale: 40.44M - Burn Amount: 10.6M).
The remaining tokens are to be vested and released upon its official schedule.
Recently, allegations were made that Swipe's vested tokens were moved from their original place into a Binance-tagged address. Combined with a drastic fall in price, this led to claims and rumors that the Swipe team had sold off their vested tokens on Binance.
A look at the following Etherscan links suggest that about 61.875M $SXP tokens from the Ecosystem Reserves were sent to the Binance Exchange Wallet:
When questioned about these transactions on Telegram, Joselito answered that the Ecosystem Reserves portion is controlled by Binance. However, many in the community feel that a short answer from the CEO is not enough to quash the rumors entirely.
Xangle asks the project team to clearly address the market rumors by providing additional information regarding the raised issue. We ask that the project team provide proof that the custodial tokens on Binance have not been circulated/sold in an official statement.
Alexander Morris
This is such weak fud. There are no indication that the 200 mln is being currently sold or used in any way. The fact that the total supply is 300 mln (of witch only 1/3 is in circulation), has been known since the ico
I think your thinking is too small. Swipe has basically endless possibility. Binance won't be their only client. There can be many many companies that want to have their cards. You're thinking only about double or triple incresse in transactions. What about 10x? 50x? 1000x? Currently there is like 6k users. But the number is growing every day. And they are currently only available in Europe and semi available in USA (physical cards only started shipping). They are currently working hard on going live in Africa, Asia and Australia.
