Swipe Token is a utility token designed to be the gas and fuel to the Swipe Wallet and Swipe Card.
Use your Swipe Tokens (SXP) to pay for transaction fees, network fees, spending fees, discounts and rewards enhancements, access to Swipe Slate, and more!
The Swipe Wallet has been designed to require Swipe Tokens SXP to perform all functions and utility of the Wallet including to use the services and to make withdraws. Users on the Swipe Wallet can buy, sell, and pay with their cryptocurrencies to fiat directly within the Wallet application as well as purchase Gift Cards and make instant exchanges between all supported assets.
Users are able to use their SXP tokens on launch and there are also tiered benefits based on the SXP holding on the Wallet Contract. All Swipe Wallets require a 1 SXP deposit to activate and utilize on-chain functions based on an audited Smart Wallet-Contract to perform its duties. The protocol has been designed and built on Ethereum and destroys 80% of network and transaction fees are and 20% of the fees are retained by the company. SXP will be later used to secure the Swipe Network.
Any network related transaction requires SXP as the gas for the network fees. For example, if a user withdraws Bitcoin from the Swipe Wallet, the user pays a very a small SXP network fee.
Spend SXP as a currency such as at point-of-sale or for gift cards directly within the Swipe Wallet and Swipe Card at merchants worldwide. The SXP used will be converted to fiat to perform the transaction
Discounts & Enhancements
Users are able to get the higher Swipe Card with a SXP stake of 300,000 for 6 months. Users are also able to retain higher SXP balances for enhanced discounts and enhanced rewards per the Whitepaper.