What is Swaap?
Swaap is a global blockchain payment method that can be used by anyone everywhere. It’s free-to-use open-source and decentralized. Swaap tokens-or SAPs-are supported by a variety of collateral, capital, and cash equivalents, meaning that stability is still sufficient to turn the tokens into fiat currency when you really need it.
Their project aims at developing a fully universal payment mechanism utilizing blockchain technologies. They are dedicated to providing a broad variety of solutions to allow businesses and individuals to do international business.
A community-driven project
All of their products and services seek to enhance how societies cope with cross-border transfers and redistribution of money, and all of our codes are open-source software.
They provide a broad range of resources to allow individuals to exchange internationally, in a decentralized and transparent way. Their emphasis is on joining blockchain and legacy frameworks to build a genuinely useful network for our customers.
All Swaap tokens are protected and you will still be able to gain instant liquidity in fiat currency via our online portal.
They also built a chain-on-demand principle that dramatically lowers the expense of accessing on-chain resources by combining transactions and dynamically transmitting them to the main blockchain network.
Swaap is their service token. It is the medium for moving funds and assets to the members of their website, and its value is related to the USD on a 1:1 basis. It is an open-source crypto-token built to be modular, accurate, stable, and simple to use.
We have to focus on three factors here:
1) Minting Tokens: The token mintage phase is performed by the consumers themselves, on their utility site, Nova Bank. What you have to do is deposit cash, and the comparability of tokens would be generated and transferred to your account. They have designed the system in such a way that you can also use your credit/debit card to protect and induct your tokens. It’s smooth, along with everything else with Swaap.
2) Redeeming in Fiat: In order to serve its function of being a service token and a medium of trade, they have rendered the mechanism of redemption in fiat currency smooth and effective. It’s all done by Nova Bank (their utility platform), and the transfer phase is done automatically by pressing a button.
3) Collateralization: All tokens are protected and supported by legacy funds, and they post a quarterly update on all holdings that sustain your tokens, something that you can navigate from their website at any time.
Swaap Governance (SAPG)
Swaap Governance tokens would be used to vote on their governance pools and help determine the direction of the Swaap network. In comparison to their utility tokens, SAPGs have a set limit permitted inflation rate of 1% each year, which ensures that only 1% of the overall stock will be put into circulation annually, and the choice, whether or not to utilize this privilege, would be subject to an annual governance pool.
Their governance portal is where you can practice your voting privileges and will be able to connect with other governance partners to share and explore concerns relevant to the sustainability of this venture. The platform will be introduced and made open to the public in Q4 2021.
You will also be able to stack your SAPGs and SAPs via liquidity repositories on decentralized markets, like Uniswap, and then they will introduce a stacking and reward system on Nova Bank that will enable you to stack SAPs explicitly on their platform.
All in all, their project has a long-term vision and mission, and choosing them would be a productive option.
For More Details About Swaap :
Telegram Group: https://t.me/swaapcrypto
Article by Anton De Mel