Swipe Token (SXP) is the native cryptocurrency that powers the Swipe Network. It is used for staking, payments, governance, and more.
The Swipe Network is a decentralized finance application that enables users to bond Swipe Token (SXP) to a smart contract to guarantee the conversion rates between crypto-to-fiat. The way this is performed is that each conversion that occurs on the Swipe Payment rails occurs in real-time. SXP is then held as a bond between the conversion to guarantee the conversion from crypto to fiat on the payment networks.
*Users who stake SXP and bond it to the Swipe Network will receive their proportionate share of the Network Rewards currently set at 20,000 SXP per day. This number is dynamic and can be controlled later through the Swipe Governance protocol.
*Swipe Network collateral bonded is controlled only by the supplier as the smart-contract has no administrative control over your funds. Users are able to supply and withdraw SXP collateral on-demand.