Announcing SWPR Token

SWPR Token and Liquidity Mining

DXdao
DXdao
Aug 31 · 6 min read

With the passage of a signal proposal on Saturday, DXdao is set to launch the SWPR token to attract and develop an engaged community to govern Swapr into the future. The launch comes more than a year after a governance-enabled AMM was first ideated and is the culmination of months of work between the DXdao community and the Swapr squad. The SWPR token launch also coincides with the launch of Arbitrum One, which is the third network that Swapr is live on.

SWPR tokens for the initial airdrop can now be claimed at Swapr.eth on Arbitrum One. See below for a list of eligible communities.

To coincide with the SWPR launch, DXdao governance is set to launch SWPR liquidity mining campaigns on Thursday, September 16th across Arbitrum One, Ethereum mainnet and xDai. Details on incentivized pairs can be found below.

SWPR Mainnet0x6cAcDB97e3fC8136805a9E7c342d866ab77D0957

SWPR Arbitrum0xde903e2712288a1da82942dddf2c20529565ac30

SWPR — The Swapr Governance Token

The Swapr protocol will be governed by SWPR token holders through the ERC20 Guild Structure, where tokens are locked for voting. Voting weight is directly proportional to the number of tokens locked in the governance contract. SWPR token holders can use their voting power to:

Swapr was developed and is currently governed by DXdao. The SWPR token is the first step toward fractionalization in governance and establishing sovereignty for Swapr. The bootstrapping and liquidity mining phases will create a wider distribution of SWPR to community stakeholders and further its decentralization.

Swapr’s fee structure will direct protocol fees to those who stake SWPR in the governance contract. Funds are automatically split and can be allocated to either the Swapr Treasury or the SWPR fee share, managed by Swapr Governance. In the initial proposed model, all protocol fees will be sent to a smart contract where it will be divided:

Distribution

SWPR token is a mainnet ERC20 token with a max supply of 100,000,000. The token was minted by an anonymous deployer and distributed to both the SWPR airdrop contract and DXdao Treasury. You can view the signal proposal submitted by the deployer here.

The initial distribution is meant to distribute governance rights over the Swapr protocol, attract more stakeholders into the Swapr ecosystem, bootstrap liquidity on Swapr and further engage those that have contributed to Swapr development.

DXdao Treasury: 50%

The DXdao Treasury allocation is a large portion of tokens that distribute Swapr fees to DXD holders. Swapr is a product of DXdao. If both the Swapr Guild and DXdao identify a mutual benefit, these funds will be used for new farming campaigns, partnership opportunities, Fast-exit liquidity and more.

Swapr Treasury: 18%

The treasury allocation is designed to provide initial funds to the Swapr Guild to utilize as necessary operating costs. This includes any allocation of liquidity mining rewards, deployment to additional networks, and improvements to Swapr through bounties and contribution rewards.

Liquidity Incentives: 14%

Liquidity is the absolute most important facet to Swapr’s success. The liquidity incentives allocation will focus on distributing SWPR token fairly between several chains, prioritizing relevant pairs. You can read more on the initial liquidity mining campaign below.

DXD Holders: 8%

The DXD allocation will integrate an initial group of community members that already care for the success of Swapr through their commitment to DXdao. The snapshot date for the DXD holders allocation was August 19, 2021 at midnight UTC. Locked tokens will be vested for two years with a one-year cliff. Additional information can be found in the below Airdrops section.

Note: In the initial deployment, a small number of DXD holders received less SWPR than anticipated. Smart contract wallets and some DXD Swapr LPs are affected and will have their SWPR airdrop sent manually. If you have a question about your DXD airdrop, please go to the #SWPR-airdrop Discord channel.

Swapr Builders 6%

The Swapr Builders allocation distributes SWPR token to those who were instrumental in Swapr’s initial development and future growth. This is accomplished through vesting that unlocks as milestones are achieved rather than a static timeframe.

Community Airdrops 4%

This allocation aims to attract users from relevant projects to integrate them in Swapr’s growing community. More information on these allocations can be found below.

The SWPR Airdrop

The initial “Community Airdrop” allocation targets users from relevant projects and spaces, integrating them in Swapr’s growing community. These communities share similar sentiments with DXdao on governance and decentralization.. Included in this allocation is an Airdrop Reserve; an undetermined allotment up for further discussion within the Swapr community.

The snapshot for the following Airdrops was taken on July 1, 2021. All of the above allocations can be claimed until the end of the year, December 31, 2021.

How To Claim SWPR on Arbitrum One

The SWPR airdrop must be claimed on Arbitrum One. You’ll have to switch networks in your wallet. For more information, see the step-by-step guide on How to Claim SWPR airdrop on Arbitrum One.

Liquidity Mining Campaign

Within the first year of SWPR token launching, 14% of the issuance is delegated to a liquidity mining campaign. In this initial configuration, each campaign will run on two-week Epoch’s with a base issuance of 140,000 SWPR. These values are boosted up to 8x for the first 13 Epoch’s in order to kickstart liquidity and secure an initial distribution to individuals with an early commitment to Swapr.

SWPR token will have a multi-chain distribution starting on September 16th, 2021 which targets the launch of the Arbitrum network. More specifically, the initial configuration points 80% of the issuance to Arbitrum, 10% to Mainnet Ethereum, and 10% to xDai chain. Swapr Guild Governance will ultimately be able to vote on these allocations.

The SWPR liquidity mining campaign targets distinct pairs with varying weights on each chain. This decision was made in an effort to distribute additional rewards to DXdao ecosystem pairs and incentivize a wide variety of chain-relevant pools:

About Swapr: Swapr is a multi-chain automated market maker (AMM), deployed on Ethereum mainnet, xDai, and Arbitrum. Swapr is the first AMM to allow for adjustable swap fees through governance, as well as the first DAO deployed DeFi protocol on Ethereum; developed organically within the DXdao community.

Connect with Swapr: Discord, Twitter, Telegram

Connect with DXdao: Discord, Twitter, Telegram, Keybase, DAOtalk Forum

Swapr

Swapr is a governance-enabled decentralized exchange, based on a fork of Uniswap

Swapr

Swapr is the first automated market maker (AMM) to allow for adjustable swap fees through governance and has been organically developed within the DXdao community

DXdao

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DXdao

The DXdao is a decentralized organization, owned and operated by the community. It develops, governs, and grows DeFi protocols and products.

Swapr

Swapr is the first automated market maker (AMM) to allow for adjustable swap fees through governance and has been organically developed within the DXdao community