SWAY tokens to be released directly to airdrop participants instead of xSWAY tokens, simplifying the process
As we reported back in July when we launched our airdrop program, our objective at Clout.art is to attract an engaged content creator community, spread the word about Clout.art, and infuse the platform with quality NFT drops.
Comprising 10% of the total SWAY supply, the original plan was to airdrop xSWAY tokens to users that would vest over time to become SWAY tokens. In the first tranche, we allocated 3% for the first users joining our community and minting an NFT on our public beta.
What are xSWAY?
Before the TGE, we allocated xSWAY tokens to all our airdrop recipients. Not transferable outside of the Clout.art platform, their purpose is to allow users to stake with their favourite creators as soon as possible, claiming rewards in the process. As the xSWAY unlocks, they are converted into SWAY tokens — tradeable on exchanges.
However, we realise now that this process can be optimized. We therefore decided to airdrop the SWAY tokens directly with a 3 month vesting schedule.
If you are eligible and qualify for the airdrop, you will be able to claim your first installment of SWAY tokens via Xportal today at 11:30 UTC.
Check this 8 step guide on how to claim your SWAY tokens.
New in-platform token
With xSWAY on the way out, we will therefore be introducing a new and more powerful in-platform token to be used on the Clout.art creator pools. This will make the process far easier and simpler for our community. More details to follow!
About Clout.art
Clout.art powers the creator economy of the future by turning the most valuable content, such as your most successful Instagram posts, into unique NFTs. As a microservice, a marketplace, and a staking platform, Clout.art is where creators and fans come together to create, grow or exchange social capital through the $SWAY token.
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