SMT Token Sale Information
The Swarm Markets SMT payment token will be sold to the public in two phases starting July 12, 2021.
Hype surrounding the launch of the world’s first licensed DeFi platform exploded with the early success of the Swarm Markets launch liquidity program and excitement is increasing in advance of the platform’s August launch.
Swarm Markets is pleased to announce details of our public token sale which will take place in two phases prior to the launch of the platform.
The SMT public sale begins July 12th with a pre-sale on the Launchpool platform, followed by a token auction starting July 21st.
What is SMT?
The SMT token is the backbone of the payment system powering the Swarm Markets regulated DeFi platform. Swarm Markets is a unified exchange licensed for the trading of both regulated securities and crypto assets.
SMT facilitates simplified transactions on the Swarm Markets platform, reducing complexity and gas fees for certain types of transactions. SMT is also used as a reward and incentive mechanism for Swarm Markets users who receive SMT for platform activity and pay reduced transaction fees when paying with SMT.
How to earn and save money with SMT
Loyalty Rewards
Loyalty Level Rewards are paid to SMT holders just for holding SMT in their wallet. Rewards are calculated according to the ratio of SMT to other crypto assets a user has connected to Swarm Markets, e.g., $10,000 worth of SMT / $100,000 worth of ETH equals a ratio of 10%.
Fee discounts
Traders get a 50% discount on protocol fees when they choose to pay using SMT.
SMT token model — key data
Ticker: SMT
Type: ERC20
Smart Contract: to be announced
Supply: 250 million (250,000,000 SMT)
Initial circulating supply: 10.3 million tokens (10,304,259 SMT)
Private sale: 12%
Public sale: 8%
Team allocation: None → 0%
Vesting: Yes
Read the SMT Token model documentation.
How to buy SMT?
Auction
- Onboarding: July 14, 2021 — or earlier
- Start: Wednesday, July 21, 2021 4:00:00 PM CET, Epoc 1626876000
- End: Wednesday, July 28, 2021 4:00:00 PM CET, Epoc 1627480800
Token price and sale amount
All SMT allocated as Token Sale tokens remaining after the pre-sale will be auctioned to the public via batch auction on the Gnosis Auction platform for a price determined by participants in the auction.
What is required?
Auction participants must first onboard via the Swarm Markets platform. Onboarding will be possible at least one week prior to the start of the auction.
Who can participate?
Everyone eligible to use the Swarm Markets platform may participate in the batch auction.
Pre-Sale
- Onboarding: Open now via Launchpool
- Start: Monday, July 12, 2021
- End: Monday, July 19, 2021
Token price and sale amount
Up to 5 million SMT tokens will be sold at a purchase price of USD $0.10 per SMT token.
What is required?
Participants in the Launchpool Pre-sale must onboard via the Launchpool platform.
Who can participate?
Requirements for joining Launchpool can be found on the Launchpool website.
SMT tokens in circulation may be traded freely outside the Swarm Markets platform without restrictions imposed by Swarm Markets.
What is a batch auction?
A batch auction is a manipulation-resistant way of determining a fair price between token buyers and token sellers where sellers indicate the minimum sale price for a quantity of tokens and buyers submit a maximum purchase price and their desired quantity.
At the end of the auction, an algorithm sorts the bids and sets a single per token sale price at which all the cumulative bids at or above that price will purchase the total amount of tokens available for sale.
Buyers who bid above the final price will pay the same price as those who bid at the sale price. Buyers who bid below the final price will not be able to purchase any tokens.
Read the SMT Public Sale documentation.
Where to trade SMT
SMT is a payment token that can be purchased and traded on any exchange. SMT will be listed for trading on the Swarm Markets platform directly after the public sales are concluded and the platform is launched.
Where to keep your SMT
SMT is an ERC20 token which can be stored using any Ethereum wallet.
