About Swipe Finance Lab Defi Coin
Swipe Finance Lab Defi Coin is a platform that looks to form a bridge between the fiat and cryptocurrency worlds with its three main existing products: the Swipe multi-asset mobile wallet, the Swipe cryptocurrency-funded debit card and the Swipe Token (SXP).
The Swipe wallet acts as the main access point to the Swipe ecosystem and can be used to store and manage a wide variety of assets — including both cryptocurrencies and fiat currencies. The wallet can also be used to manage Swipe’s second product — the Swipe debit card. This debit allows users to spend their cryptocurrencies at Visa payment terminals and comes in a variety of flavors, each of which offer increasing perks and benefits.
This ecosystem is powered by the Swipe Token (SXP), which functions as the fuel for the Swipe Network, and is used for paying transaction fees. Holders of SXP tokens are eligible for exclusive discounts on the Swipe app and the token can be used for making fiat payments with the Swipe debit card.
Quick Fact About Swipe Fiance Lab Defi Coin
| Coin Basic | Information |
|---|---|
| DEFI Coin Name | Swipe Defi Coins |
| Circulating Supply | 83,936,975 SXP |
| Total Supply | 289,266,978 |
| Contract Address | 0x8ce9137d39326ad0cd6491fb5cc0cba0e089b6a9 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To Visit |
| Twitter Group | Click Here To Visit Twitter Group |
| Documentation | Click Here To View |
| Project Location | N/A |
| Official Project Website | Click Here To Visit Project Website |
Swipe Token (SXP)?
While many DeFi tokens are considered to be speculative in nature, Swipe Finance Lab Defi Coin primarily serves as a utility token. It powers the entire Swipe ecosystem. By providing utility to token holders, there are multiple incentives to either use or hold SXP.
One core aspect of the Swipe ecosystem is its Visa debit card. It isn’t the first nor the only cryptocurrency debit card in existence. However, unlike similar projects, users don’t need to stake SXP to be able to use the debit card service.
There are a few different versions of the Swipe debit card. While holding SXP is not a requirement, SXP token holders are able to obtain the higher-tier cards. The high-tier cards include benefits, such as subscriptions to Netflix or Spotify, no foreign transaction fees, and discounts through Starbucks, Uber, Apple Music, and Airbnb.
How to store Swipe Token (SXP)
Like most other DeFi projects on the crypto market today, Swipe doesn’t have a native blockchain. Instead, the team decided to issue the SXP tokens on both Ethereum and Binance Chain blockchains.
The Swipe Token (SXP) is available both as an ERC-20 token (on Ethereum) and as a BEP-2 token (on the Binance Chain). As such, you can easily store SXP in any crypto wallet that supports ERC-20 or BEP-2 tokens (e.g., Trust Wallet, MetaMask).
Who Are the Founders of Swipe?
Swipe was founded by Joselito Lizarondo, an early Bitcoin investor and individual with a wealth of experience in startup businesses. Lizarondo currently serves as CEO of the platform.
In addition, former senior creator at Vibial Group John Khenneth is the Swipe’s COO, while Anecita Sotomil — a former tax and legal officer at PricewaterhouseCoopers — is its chief legal officer (CLO). Lastly, the Swipe executive team is rounded out with newly added CTO Henry Niduaza, an accomplished two-time CTO with more than thirty years of experience in banks, retail and fintech.
The entire Swipe team comprises just over a dozen individuals, including developers, engineers, marketing and community management staff. Swipe is the first crypto-oriented position for the majority of current team members.
In July 2020, it was announced that Swipe was acquired by Binance — one of the world’s leading digital asset exchanges — for an undisclosed sum.
How Is the Swipe Network Secured?
Swipe Finance Lab Defi Coin (SXP) is an ERC-20 token, as a result, its integrity is maintained by Ethereum’s proof-of-work (POW) consensus mechanism and massive node network.
Beyond this, Swipe Wallet users benefit from a $100 million insurance plan offered through Coinbase Custody, and have the ability to lock down their Swipe debit card whenever needed through the Swipe Wallet app.
Swipe is authorized to distribute Visa debit cards in a variety of jurisdictions, including over 30 countries in Europe, but also recently received the green light to launch its wallet and Visa debit card products in the United States.
Where Can You Buy Swipe (SXP)?
The Swipe token is currently available to trade on more than 50 different exchanges, including several of the largest and most reputable platforms — including Binance, KuCoin and Poloniex.
SXP is currently listed against a variety of cryptocurrencies, including Tether (USDT), Bitcoin (BTC) and Ethereum (ETH), as well as several fiat currencies, like Korean won (KRW), euros (EUR), and U.S. dollars (USD). For more information about purchasing cryptocurrencies with fiat, check out our comprehensive guide.
