Swaap
Swaap: A Global Payment Network
A trusted global cryptographic currency would allow financial transactions to be settled among companies and individuals across the board, on a secure, rapid, and cost-efficient way, without going through a financial institution and eliminating any need for currency exchange among transactions taking place between different jurisdictions. Direct and unbiased processing of these transactions by the blockchain is part of proposed solution, but the main benefit is the accessing of liquidity in different local currencies, through our liquidity pool, where users will be able to redeem their Swaap Tokens (SAP) in fiat currency at any time, and have their funds deposited directly in their bank accounts. The liquidity pool will work as a currency basket where all funds will be secured and locked away until a user decides to redeem it. We intend to make this process transparent and trustful, with procedures being validated in the blockchain and regular independent audits being conducted, with all this information made available to the public, always. Having a multi-currency and multi-asset cryptographic currency also comes makes it less susceptible to volatility, with the liquidity pool balancing itself even in case of severe devaluation or debasement of an individual currency or asset class.
What is Swaap?
Swaap is an universal blockchain payment system, that can be used by anyone, anywhere. It is free to use, open source and decentralized. Swaap tokens - or SAP - are backed by a range of assets, cash and cash equivalents and this ensures that will be always available liquidity for you to convert your tokens in fiat currency when you need it.
Our project aims to create a truly universal payment system using blockchain technology. We endeavor to offer a wide range of solutions to enable companies and individuals to do business globally.
A community-driven project
All of our products and services aims to improve the way communities deal with cross-border payments and funds relocation, and all of our codes are open source.
Empowering businesses
We offer a wide range of tools to enable individuals to trade globally, on a decentralized and democratic way. Our focus is to join blockchain and legacy systems to create a truly useful platform to our users.
Liquidity and compliance
All Swaap tokens are collateralized, and you will always be able to access immediate liquidity in fiat currency through our online platform.
Chain-on-demand concept
We have created a chain-on-demand concept, which drastically reduces the costs of using on-chain services by aggregating transactions and selectively communicating them to the main blockchain database.
INTEGRATION
Our main goal with the project is to create a truly usable and useful product, designed to facilitate financial transactions for merchants and individuals around the globe. For doing that, we will be releasing a series of development tools and plugins that will help you on integrating our platform to your web or physical store, allowing you to pay and get paid seamlessly. We already have a page dedicated to developers, where you can access some IDEs, APIs, testnet and our source codes, but we will be implementing new features as the project unfolds.
TOKENOMICS
- Swaap (SAP) Token:
- Name: Swaap
- Ticker: SAP
- Decimals: 4
- Initial Issuance (non-circulating): 2,000,000,000 (2b)
Description
Swaap Tokens are the native utility token of our platform. It is an open-source cryptographic token, designed to be scalable, reliable, secure and easy to use. Being a payment utility token, its holders can redeem them in fiat currency immediately after getting paid, or exchange them freely outside of our platform - if so they want. The redemption value is perpetual and pegged to the value of the USD on a 1:1 basis, which means that when redeeming your tokens in fiat, you will always get the equivalent of 1 USD per token.
Minting Tokens
The token mintage process is all done by the users themselves, in our utility platform, Nova Bank. All you need to do is to deposit collateral and the equivalence of tokens will be created and deposited in your account. We have built the platform in a way that you can even use your credit or debit card to collateralize and mint your tokens. It is seamless, as everything else with Swaap.
Redeeming in Fiat
To fulfil its purpose of being a utility token and a medium of exchange, we have made the redemption process in fiat currency seamless and efficient. It is all done through Nova Bank (our utility platform), and the conversion process is immediate and done with the click of a button.
Collateralization
All tokens are collateralized and backed by legacy assets, and we issue a quarterly report on all holdings backing your tokens, which you can access through our website, at all times.
Price and Trading
These tokens are utility tokens, and they were not conceived with trading in mind, but being an ERC-20 token, they can be freely exchanged between users outside our platform. As far as the price goes, when redeeming your tokens in fiat, you will always get the exchange rate of 1:1 USD, but at times, there might be people out there willing to pay more, or less, in order to have access to the liquidity of our platform, and we won't exercise any kind of price control over the trading value of the token on the free market.
Swaap Governance (SAPG):
- Name: Swaap Governance
- Ticker: SAPG
- Decimals: 4
- Initial Issuance: 3,000,000 (3m)
- Allowed Inflation Rate: 1% p.a.
Description
Swaap Governance tokens can be used to vote on our governance pools and help on shaping the future of the Swaap platform. Differently from our utility tokens, SAPGs have a fixed maximum allowed inflation rate of 1% per year, which means that only 1% of the total supply can be minted every year, and the decision of rather or not to use this right, will be subject to the result of a governance pool, conducted yearly.
Tokens Initial Distribution
The governance tokens will be distributed throughout the initial stages of the project and the yearly minted inflation tokens - if any - will be sold to the community through decentralized exchanges.
Governance Platform:
Our governance platform is where you will exercise your voting rights and will be able to interact with another governance token holders to share and discuss topics related to the future of this project. The platform will be launched and available to the public on Q4 2021.
Price and Trading
All pre-launch tokens had their price set by us, but we won't exercise any kind of price control on the free market. After these tokens reach the open community, you will be able to trade, buy and sell them for the price you see fit.
PRESALE/ICO/IEO
As our utility token is meant to be used as a medium of exchange, and can be minted directly through our online platform, there won't be any presale or ICO. Though, we will be creating an Uniswap pool where you will be able to exchange it for other ERC-20 tokens outside of our main platform. As for our governance tokens (SAPG), the token distribution schedule will be as specified below.
Presale:
The presale funding round will run from January 20th, 2021 until March 20th 2021. During this period, all negotiations for purchasing the tokens will have to be done directly with us, and you will be given the status of early investor when doing so. Early investors will be eligible for future airdrops for the governance tokens. We intend to use most of the funds acquired during this round to fund our liquidity pools.
IEO:
We will conduct our IEO in two stages, starting in April 2021 and ending in May 2021. On the first stage, tokens will be offered with different pairs on LedgerDex and ForkDelta, and users will be able to purchase them directly from our treasury. On the second stage, a liquidity pool will be created on Uniswap, where users will be able to access liquidity for their pre-purchased tokens and exchange it for other ERC-20 tokens.
ICO:
We will not conduct an ICO, as most of our project has been already funded and developed, and the funds raised during the presale and IEO should be enough to cover our expenses and investments to date.
STACKING
You will be able to stack your SAPGs and SAPs through liquidity pools on decentralized exchanges, such as Uniswap, and we will launch a stacking and rewards program on Nova Bank for you to stack SAPs directly on our platform.
Our team
Paulo Baronceli - Founder
Luis Baronceli - CFO
Amrit Mirchandani - Marketing Manager
Samuel Osuala - Community Manager
Goin Merry - Bounty Manager
For more infor visite us on:
- Website: https://swaap.org/
- Ann Thread: https://bitcointalk.org/index.php?topic=5291587
- Twitter: https://https//twitter.com/SwaapCrypto
- Telegram: https://t.me/swaapcrypto
- Facebook: https://web.facebook.com/Swaap-102275471847846
- Discord: https://discord.gg/RqAfFx6n5p
AUTHOR
Bitcointalk Username: Stefan Sergei
Telegram Username: https://t.me/Biroh2
Bitcointalk url: https://bitcointalk.org/index.php?action=profile;u=2682540
Wallet address: 0x3DA9cfDb8B211A166893b635786CACA6505b1bE3
