Introducing the New Swace Token

Dovydas Riasnojus
Jun 18 · 4 min read

New SWACE utility token to be launched via IEO; previously KYC/AML-accredited investors to immediately receive new SWACE tokens

Say ‘hello’ to the new SWACE token

In 2018, Swace planned to carry out an ICO with the SWA token. However, we decided to hold back and delay the fundraising process in order to fully develop our product, the SWACE app, before launching any further fundraising campaigns via the SWACE community.

We are happy to tell you that the new SWACE app is almost finished, and we are finally ready to launch the new SWACE utility token via an Initial Exchange Offering (IEO) whose date and our partnering exchanges we will let you know about soon.

Also, as part of our moral, legal, and financial commitments to you early adopters who took part in our pre-sale stage last year, KYC/AML-accredited investors, partners and SWACE community members who participated in the Swace bounty campaign will be eligible to swap their old SWA to new SWACE tokens. Similarly, we are more than looking forward to welcoming new members into our fold, too!

To discover how both existing and new SWACE community investors and fans can become part of the re-launched Swace project, check out the article below!

SWA vs. SWACE — the differences

In addition to making a really awesome SWACE app, taking care of you — the community — is one of the most important things to us. If you’re one of the early investors or community members who, last year, participated in our pre-sale, the following information will let you know about how you can receive your new SWACE tokens, as well as the difference between the two coins.

Following the SWACE token’s launch later in the year, private or ‘pre-sale’ investors will immediately receive the amount of tokens they purchased in SWA as part of our customer commitment. This includes an additional 25% bonus. However, we would like to let you know that only KYC/AML approved partners and bounty participants will be eligible for this.

Only those who pass these financial and due diligence security checks will get their SWACE tokens 30 days after they become listed on the crypto exchanges we have partnered with. Meanwhile, bounty participants will have to wait a further six months before they can swap their SWA into SWACE. This is due to bounty tokens are being locked-in with a six month vesting period. A more precise step-by-step procedure of how the old SWA tokens will be converted to the new SWACE token will be announced soon.

SWA token safety

The biggest difference between the SWA token and the SWACE token is the token distribution model and security measures. Thanks to the mechanics of the IEO, not only will all investors have to pass KYC/AML procedures, the SWACE team, foundation and bounty wallets will also be vested for the specific periods. A vesting wallet means that tokens on there are locked, and cannot be dumped in order to manipulate and thus devalue the new SWACE coin. These conditions will create a safer and transparent environment for everyone. We also hope that this distribution model will lead to the quicker funding of the SWACE app, meaning we can launch globally sooner than later.

Official Swace token wallets

The following list will outline official Swace wallets:

What else is new?

Over the last year since we withdrew from the ICO market, we have had time to re-develop the SWACE app to make it even better. Our team of engineers have completely re-built the product codebase, API and the mobile applications in order to introduce more functionality and features including social games build in with augmented reality and ‘Tinder’-based voting system across a number of compatible devices. Swace App iOS prototype

If you feel your questions have not been answered, please get in touch with us via the official Swace communication channels.

Swace Ratings on ICObench 4.4, FoundICO 5.9, TrackICO 4.8

Swace

Swace is a unique, blockchain-based social gaming application which rewards its users for engaging with and advertising associated brands in a fun and interactive way. Via the Swace app, any brand, product, or service provider can launch a social gaming campaign.

Dovydas Riasnojus

Written by

Entrepreneur, executive, international business development, SaaS, blockchain enthusiast, ICO advisor

Swace

Swace

Swace is a unique, blockchain-based social gaming application which rewards its users for engaging with and advertising associated brands in a fun and interactive way. Via the Swace app, any brand, product, or service provider can launch a social gaming campaign.