Decentralized Global Payment System
What is Swaap?
Swaap is a globalized blockchain-based payment system. This system can be used by anyone anywhere, it is an open-source and decentralized system. SWAP tokens or SAP are backed by fiat or an equivalent range of assets so you will get enough liquidity in the market to convert your tokens into fiat.
Why Swaap?
Cryptocurrencies have captured the major mindshare of the investor, especially in recent times. We have seen an assortment of different projects that have come to the fore, some have been promising, some have defused with time, but certain projects stand out because they address problems. It is important as an investor or a true crypto enthusiast to ask a relevant question which is — are the present tokens serving as an authentic global exchangeable currency that offer reliable fiat-liquidity in local currencies as and when required?
The answer is that to date it has not, but here comes a new concept that bases its concept on solving the problems.
Swaap — the ultimate problem solver
Swaap is a unique initiative that is hell-bent on solving this problem by associates and aligns blockchain technology with a robust financial framework that will help to serve its customers by presenting a global payment and asset redeployment solution that is secure and not heavy on the budget. In its quest to solve the problem, Swapp focuses on providing borderless transactions that can be settled in a jiffy. All of this happens on a peer-to-peer system that will use the Ethereum chain to validate and store an entire lot of information in the most secure and transparent manner.
Benefits of the Swaap platform
- Swaap uses the Ethereum network and blockchain ledger which are well established, reputed, and reliable platforms that give a great reason to the user to establish trust.
- Since it is built as an ERC-20 token, it stands compatible with most Ethereum wallets allowing the users to augment their experience with finer integrations.
- It is less volatile because it is backed by a gamut of collaterals.
- It also will have a free-floating exchange value making it an attractive investment option.
- It is a one-of-a-kind platform that will offer reliable, multi-currency liquidity which will eliminate scams and fraudulent dealings.
Technology and Processes
Issuance and Acquirement of Swaaps
Clients will have the option to mint Swaaps whenever by storing insurance against it, and it they will be capable. The insurance will be estimated against the current market cost and the client will be credited with the Swaaps, straightforwardly on their ERC-20 wallet. The guarantee will be pooled and put away in our Swaap Exchange Tokens
Swaap Governance Tokens
A limited amount of governance tokens will be issued and rewarded to community leaders, volunteers, team members and supporters that will help on developing and managing the Swaap platform. These tokens will be freely exchanged between users and will give voting rights to its holders, which will be called ‘Governors’, and governance will be exercised through governance pools, published on our official website.
Liquidity Pool
The liquidity pool will provide collateralization and liquidity to the tokens, being a key-element for the functioning of the whole platform. It will host a range of currencies and assets, which will be held secure and accessible only for token redemption purposes.
Flow of Funds
The charts below demonstrate how funds and tokens are issued, exchanged, held, and destroyed within the Swaap framework.
Flowchart: 1. User deposits collateral; 2. SAP tokens are issued and credited to the user; 3. Mirroring SAPX tokens are issued and credited to the company; 4. SAPX tokens will remain under the company’s custody until future redemption by a user
User requests to exchange SAP for SAPX; 2. SAPX held by the company is transferred to user on a 1:1 exchange ratio; 3. The exchanged SAP tokens are permanently destroyed by the company
Conclusion
We have brought in truly overall cash that can be used on a borderless and reasonable path while so far giving a strong wellspring of liquidity in close by money related structures for its customers. Swaap runs on Ethereum, which is a completely genuine and all-around attempted blockchain stage. It makes our token practical with a couple of wallets, modules, and integrators that are correct now open to general society.
For More Information Click Links Bellow:
- Website: https://swaap.org/
- ANN Thread: https://bitcointalk.org/index.php?topic=5291587
- Telegram: https://t.me/swaapcrypto
- Facebook: https://web.facebook.com/Swaap-102275471847846
- Twitter: https://twitter.com/SwaapCrypto
Author: ket tumbar
My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2202323
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