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– TIMESTAMPS –
0:00 Intro
1:22 What is Swipe?
4:02 The Future of Swipe?
8:56 SXP Use-Cases
12:34 Swipeโs Crypto Cards
16:03 Swipe Vs Crypto.com Cards
18:35 Partnerships
19:53 Final Thoughts
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Recommended Videos
โบ Uniswap video: https://www.youtube.com/watch?v=GREUQeHpQeQ
โบ All you need to know about Kava: https://www.youtube.com/watch?v=I5iPTyfitZA&t
โบ Chainlink price prediction: https://www.youtube.com/watch?v=EFRr6JjEZek&t
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Useful Links
โบ New Swipe whitepaper: https://www.swipe.io/Whitepaper.pdf
โบ Binance acquires Swipe: https://www.coindesk.com/binance-acquires-crypto-debit-card-provider-swipe-for-undisclosed-sum
โบ Swipe Binance research report: https://research.binance.com/en/projects/swipe
โบ Binance SXP listing announcement: https://www.binance.com/en/support/articles/4ef2d3389f4143c2986c685a88501939
โบBinance card issued by Swipe: https://www.financemagnates.com/cryptocurrency/exchange/binance-ceo-unveils-beat-transactions-using-branded-crypto-card
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Overview
Swipe has been thrust into the spotlight recently and has seen an epic price increase. However, is the hype real?
In this video, I tell you everything you need to know about the Swipe project.
What Is Swipe
Recently, Binance acquired the crypto card provider and listed SXP on the worldโs biggest exchange. It also came out that Binanceโs highly anticipated card would be issued via a whitelabel solution using Swipe.
In short, Swipe is a decentralized finance platform that aims to provide access to a plethora of crypto finance products. As things sit, there are a couple of key components of this growing ecosystem.
โบ Decentralized finance app: sporting a multi-crypto wallet supporting 30 coins, a fiat wallet supporting USD and GBP and an inbuilt exchange to buy or sell crypto.
โบ Crypto cards
So is Swipe Safe? Well, the mobile wallet has BitGo and Coinbase Custody insurance, which is good for $200 million. On top of that the app is secured by the Binance Safu fund. On top of all that, Swipeโs platform is PCI DSS Level 1 certified and smart contracts have been audited by Certik.
The Future of Swipe?
The chaps at Swipe have recently released a new whitepaper and there are a ton of new services coming to the ecosystem shortly.
โบ Swipe Pay: Allows merchants and customers to pay or be paid in crypto. 20 fiat currencies are planned to be supported.
โบ Swipe Credit: Instant overcollateralized crypto loans.
On top of that is the Swipe network. This aims to give SXP holders full control over the platform.
โบ Swipe governance app
โบ Swip Swap is an automated market making protocol
โบ SwipeFi allows people to borrow crypto. It is very much like Aave.
โบ Swipe Staking essentially collateralizes the entire Swipe network
SXP Use-Cases
โบ Governance token of the Swipe ecosystem
โบ Total staking rewards are set a 20,000 SXP daily
โบ To get access to Swipeโs premium crypto cards
When it comes to tokenomics there is going to be annual inflation of 31.6 million SXP a year. Thatโs a serious amount of inflation when you consider that only 66 million SXP are in circulation today.
However, there is a deflationary mechanism as well.
โบ 80% of all SXP fees are going to be burned until there are 100 million SXP left.
Another thing to note is that people need to stake to get those crypto cards. This takes tokens off the tradable supply and I think we know how successful thatโs been for Crypto.com.
Swipeโs Crypto Cards
Watch my video for my overview of these cards and my comparison with Crypto.com.
Partnerships
Swipe has recently teamed up with Chainlink and Kava. Iโm super interested in both of these projects and canโt wait to see how these partnerships develop.
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Disclaimer
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#swipe #sxp #crypto #binance #cards #visa #mco #cro
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