Unveiling: SWTR — The Swisstronik Token
We’ve been thrilled to share our vision for Swisstronik and the groundbreaking products we’re building. Today, we want to dive into what will be powering this entire ecosystem: the Swisstronik token, or SWTR for short.
What is the Swisstronik Token: SWTR?
SWTR is more than just a token — it’s your all-access pass to the Swisstronik universe. Here’s the functionality of SWTR:
1. Enabling users to pay transaction fees (gas)
2. Launching and running decentralized applications (dApps)
3. Verifying and securing data
4. Accessing a wide range of Swisstronik services, including ZK-tokens which open access to regulated tokens and tokenized assets, secure messaging through our Decentralized Messenger, and more!
By staking your SWTR, you’re not only getting rewards but also playing a crucial role in keeping the network secure and efficient. Plus, with our adaptable inflation mechanism, we’ve created a balanced and sustainable ecosystem that can grow and evolve alongside our community.
What makes SWTR a safe, regulated token?
We know that trust and compliance are essential in the crypto world, and that’s why we’ve gone the extra mile to verify that the SWTR token can be treated as a utility token, in terms of the Swiss law. We designed the SWTR token in such a way that it enables Swisstronik network’s operation rather than grants control over it. There is no centralized control over the token and it is not bonded to any physical asset. It is also not intended to be a payment token (for instance, even the Issuers within Swisstronik SDI can set their fees in any other cryptocurrency).
Our tokenomics model is the result of countless hours of research, collaboration with industry experts, and thorough analysis by market makers. We’re confident that we’ve created a well-balanced system that caters to the needs of all our users.
Tokenomics: A Recipe for Success
We’ve put a lot of thought into our tokenomics model, and we’re pretty proud of the result.
Our goal is to strike the perfect balance between security and liquidity, and we’ve done that by focusing on staking rates. If the amount of staked SWTR changes, our protocol jumps into action, adjusting the issuance rate to keep things running smoothly.
Issued tokens will be distributed among our hardworking validators and delegators as a reward for keeping our network secure, and some will be donated to the Swisstronik Treasury to help fund the network’s growth and development. Don’t worry — we’ve got strict controls in place to ensure the Treasury is used fairly and responsibly, and the community also has a say.
Using SWTR to participate in governance
We’ve implemented an on-chain governance mechanism that allows SWTR holders to participate in the decision-making process. If you’re a validator backed by SWTR from other network users, you’ll play a crucial role in shaping the future of the network. You can join our Swisstronik validator program here.
There are three types of proposals you can get involved in:
- Parameter proposals:
Want to change key on-chain parameters, like rewards distribution? This is your chance! - Community Pool proposals:
Got a great idea for a new service or feature? Pitch it to the community and see if you can secure funding from the community pool. - Text proposals:
Have a vision for the future of Swisstronik? Share your plans, strategies, and commitments with the community and see if you can win their support.
The proposal process is divided into two periods: the Locking Period, where you can publish your proposal and gather support, and the Voting Period, where the community decides whether to give your idea the green light.
Network Fees and Rewards
Every time someone makes a transaction on the Swisstronik network, a small fee is collected and split between the community pool, validators, and delegators. The exact distribution is decided by our governance mechanisms, and validators have the freedom to choose which transactions they accept and set their own exchange rates. The community can also adjust the distribution through governance proposals.
If you’re a bonded stakeholder, you’ll receive a percentage of the collected fees every hour, based on how much SWTR you have bonded. And if you’re a delegated validator, you’ll also earn a commission from SWTR holders who have entrusted you with their voting power.
2% of all transaction costs go straight into the community pool, which is used to fund initiatives that improve the security and value of the Swisstronik network. Community governance can influence fund allocation procedures.
Token Offering and Listing Plans
Following all your requests, we’re finally ready to disclose more details about the SWTR offering:
- First, we’re opening access to SWTR for VCs, angel investors, and other accredited investors who pass a verification process. This stage is already ongoing.
- Next, we’re planning to offer SWTR to the general public through a public offering at a major launchpad. Per the current plan (which may be subject to change due to market conditions and other factors), this should take place in Q4 2024 — Q1 2025. To access the offering, the participants will have to follow the launchpad’s verification rules — meaning that some users may not be able to participate due to their location or other criteria. But don’t worry: we’ll do our best to go live at as many launchpads in as many locations as possible. However, it may take some time, given the not-so-fast compliance processes.
- Finally, after the public offering, we’re planning to list SWTR on a tier-1 exchange at an initial value of $0.60 per 1 SWTR (which is still subject to change). The general public will have access to the token, yet similarly to the launchpads, some limitations may apply. Don’t worry though: this will be just the first of many listings. Eventually, the plan is to make SWTR available all across the world.
Why did we choose such a careful, gradual approach to opening SWTR tokens to the public? First, because this way, we can fully comply with the law and hence make SWTR a safe option for the holders. Second, because we want to ensure the stability and comfort of all participants of the offering. As soon as we have more updates on the specific dates, we’ll share the news in our social media, so stay tuned!
How you can get SWTR today
We know not everyone is capable of accessing tokens at the public offering. But we still want to let you be part of our future vision. That’s why we’re offering our community numerous opportunities to earn SWTR as a reward.
We believe in rewarding our community members for actively contributing to the growth of our project. Earning SWTR through a reward scheme bonds the community and the project, so here are a few ways you’ll be able to get SWTR in the near future:
- Ambassador Program and Competitions:
Spread the word about Swisstronik and receive tokens for your efforts through our Ambassador program or our numerous social media contests. Our Ambassador Program (SAP) has just been launched — it’s the perfect time to apply: https://link.swisstronik.com/mlz - Validator Program:
Help validate the network before the Token Generation Event (TGE) and receive significant rewards, then continue validating post-launch to earn a portion of the transaction fees. Here’s more info: https://swisstronik.com/validators - Grant Program:
Got a great idea for an innovative project to be launched on the Swisstronik network? Apply for a token grant and bring your vision to life! Here’s the info about our ongoing grants: https://swisstronik.com/grants-program
As the Swisstronik ecosystem grows, we’ll be rolling out even more opportunities for our community members to get involved and get tokens.
Don’t miss out!
As we approach the token offering and listing, stay tuned to our official channels for the latest updates and announcements: https://twitter.com/swisstronik
