Token sale victory lap — when & where to trade SMT

Swarm Markets’ public token sale was a hit and we are building momentum in the coming days with exchange listings, the platform launch, and a massive marketing campaign.

Token Sale Results

SMT exploded right out of the gate with our Launchpool pre-sale. The Launchpool community showed their support for the Swarm Market’s platform in a big way — staking 3x the nominal value of the pre-sale allocation to secure their chance at getting SMT.

Over $1.5 million worth of LPOOL was staked in the first 24 hours and Swarm Markets was a top 5 project by the end of the pre-sale. ​​399,358 USDC was raised from 810 participants. Impressive results for Swarm Markets, especially considering the market conditions.

The action during the batch auction followed a different path, with bids trickling in slowly as participants completed the onboarding process and the biggest bids coming in during the final hours before the end of the auction. In the end, the auction raised 609,242.06 USDC at a closing price of USD $0.10 per token — outperforming the pre-sale and allowing everyone who bid to go home with some SMT. One deep-pocketed Swarm Markets fan even placed a bid for $2.09/SMT!

The preceding private sale concluded at selling 6,515,226 SMT for $488,642. The entire token sale raised a total of $1.5M for 16.6M SMT.

Next steps for Swarm Markets community members

Auction Participants
Auction participants can claim tokens from the Gnosis auction page now. The tokens will appear as vSMT (vested SMT) in your wallet. In order to have a fair distribution of tokens and ensure long-term price stability, all token sale tokens are vested and appear as vSMT.

vSMT tokens can be “unwrapped” and converted to SMT using the smart contract function “ClaimMaximumAmount” according to the vesting schedule of 20% at the Token Generation Event (TGE) and then an additional 20% each quarter after TGE. There is no time limit to claim your vSMT or convert to SMT.

The Token Generation Event (TGE) will occur on Monday, August 2nd at 12:00 noon CET. vSMT can be unwrapped by visiting https://swarm.markets/unwrap.

After vSMT tokens have been converted to SMT they can be traded instantly on any platform without restriction.

Launchpool buyers
Launchpool pre-sale participants will get SMT delivered to their wallets directly from Launchpool. Launchpool will act as the custodian of their vSMT until the vesting schedule allows the tokens to be unwrapped to SMT and distributed to buyer wallets by Launchpool.

Community Boost Airdrop and Early Bird Campaign
Swarm community members who took advantage of the Early Bird Campaign and Community Boost participants will have SMT tokens distributed to their wallets at the time of the TGE. These are not vested tokens and they can be traded immediately after they appear in your wallet without requiring any further actions.

Launch Liquidity Program
Our team is diligently assisting liquidity providers with the process of adding liquidity to trading pools. The platform will launch only after that process of working through our Launch LP sign-up list is complete.

The Launch Liquidity Program will remain open until the platform’s public launch. Liquidity providers who want to benefit from additional rewards by adding liquidity prior to the public launch of the platform can still sign up.

Note: Rewards decrease the later you add liquidity, so do not wait! Only liquidity providers who actually add assets to the platform will receive rewards. There are no rewards given to those who sign up for the program, but who do not complete onboarding and add liquidity.

Product Launch

The Swarm Markets platform opens to the public after launch liquidity has been added. This will occur sometime after trading begins on outside platforms — giving everyone a chance to get SMT.

In the interim, Swarm Markets has made a beta version of the platform open to select individuals from the traditional finance and crypto community so that they can share their experiences using the platform. The launch will also be supported by a global marketing campaign to build excitement for the launch.

Where to buy and sell SMT

The team is working with exchanges and market makers to ensure immediate listings for SMT on platforms where anyone can buy and sell tokens without needing to onboard to the Swarm Markets platform.

Expect to see trading pools on Uniswap and other DeFi/DEX exchanges immediately after TGE.

Swarm Markets will announce listings on DEXs and CEXs to the community via e-mail and social media.

Stay tuned by following us on Twitter & Telegram Announcements Channel for the latest information on listings.