$SMT sees explosive growth in staking

Swarm

Published in

Swarm.com

3 min readMar 14, 2024

In Q3 2023, we introduced staking for $SMT holders as an additional way to earn rewards.

And in just a few months, the adoption has exploded.

In the past quarter alone, the number of stakers has increased by 300%, with a whopping 10% of all $SMT currently in circulation locked up in staking.

The new category of stakers are $SMT holders who lock up their tokens by staking against the tokenized RWAs that are traded on app.swarm.com earn rewards each week.

And some weeks we’ve seen APY hit triple figures on some stocks.

Stakers receive a prorated share of the rewards generated from trading volume in their chosen RWAs on the Swarm platform.

SMT staking is available to anyone who holds the ERC-20 token. Staking is done on a dedicated platform, which does not require onboarding.

How it works

Rewards are calculated based on the trading volume of the tokenized assets on Swarm’s platform, which requires user onboarding.

As long as users stake SMT, they will earn rewards. After a warm-up period of seven days, token holders will start to earn rewards on their staked assets and users can unstake their assets at any time.

APY is dynamic based on the amount of SMT staked against a particular asset and the trading volume of that asset on the Swarm platform. This will be updated in the UI of the staking platform.

Image: The dedicated SMT staking platform

Tokenized real world assets on Swarm

Swarm is the only venue to have liquidity pools with tokenized assets and crypto assets that can be accessed by both retail and institutional investors.

All tokenized assets are prospectus based. All published prospectus and notifications for the Stock Certificate Tokens can be found under the ESMA prospectus registry (search for keyword “SwarmX”)

For more information, visit our website or join the SMT community on Telegram.

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FAQs

What is SMT’s utility?

Launched in August 2021, SMT holders get discounts on trading fees and rewards boosts for providing liquidity on Swarm’s regulated blockchain platform. SMT holders can also earn rewards by staking.

2. How many vesting periods from the initial sale are left?

Vesting is complete.

3. How many SMT tokens does the Swarm team have?

No team allocation.

4. What networks is the Swarm platform available on?

Ethereum and Polygon

5. How can I bridge tokens to Polygon on Swarm?

Use the Polygon bridge: https://wallet.polygon.technology/

6. What is available to trade on Swarm?

Swarm is a DeFi platform that has launched tokenized public stocks, like Apple and Tesla, and US Treasury Bond ETFs. Users of the platform can also trade native crypto assets like Bitcoin and Ether and stablecoins like Dai and USDC.

7. Where can I buy SMT?

Uniswap:

👉Eth: https://app.uniswap.org/tokens/ethereum/0xb17548c7b510427baac4e267bea62e800b247173

👉 Polygon: https://app.uniswap.org/tokens/polygon/0xe631dabef60c37a37d70d3b4f812871df663226f

MEXC

👉https://www.mexc.com/es-ES/exchange/SMT_USDT

Gate.io

👉https://www.gate.io/trade/SMTX_USDT

Swarm Markets (KYC required)

👉 app.swarm.com

Open dOTC

👉 https://dotc.eth.link/#/dotc