What Is Swipe (SXP)? - Kakiforex.com - Financial Market Media No. 1 in the World What Is Swipe (SXP)? What Is Swipe (SXP)?

May 6, 2021

What Is Swipe (SXP)?

 Swipe was launched in 2018 before being owned by Binance in June 2020.

Unlike other cryptocurrencies, Swipe is quite unique in that it features as a software and digital wallet ecosystem designed to allow its users to use fiat or crypto money either in the real or virtual world.

Swipe offers a variety of services and products.

Among them are Visa debit cards and multi-asset DeFi applications capable of converting between cryptocurrencies, fiat and stablecoins quickly. However, the Visa Swipe card is only available in Europe and will enter the American market.

What is SXP?

The Swipe token known as SXP is synonymous with a ‘powerful’ utility token throughout the Swipe ecosystem. It is up to you to use or keep as both have benefits.

SXP token holders have the opportunity to get an exclusive card which has rewards such as Netflix or Spotify subscriptions, no overseas transaction charges and discount offers for Starbucks, Uber, Apple Music and Airbnb.

Keep in mind, the benefits are only ‘unlocked’ depending on the current SXP ownership. The more SXP tokens are unlocked, the more rewards can be enjoyed.

The maximum supply of SXP is limited to 300 million. However, the number of these coins is getting smaller with the burning of coins, at least until the remaining 100 million.

The supply of these tokens also changes periodically:

600,000 SXP is allocated to the firm’s operations each month

10,000,000 SXPs are available annually to the Swipe team and founders

1,200,000 SXP as ecosystem rewards, including staking and other incentives for each month

The number of these tokens will continue to increase until it reaches the maximum level. But don’t worry because through coin burning, SXP is indirectly a deflationary asset.

Swipe has the potential to jump higher, again they have a lot of projects to launch.

Among the closest is the launch of the Initial DEX Offering (IDO) on May 12th.