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$SXP V2 Roadmap Analysis. Is it that bad?
@JLSwipe has released a roadmap that includes updates and upgrades to v2. After the release of the roadmap, there are mixed opinions both supportive and against the plan.
and this is the breakdown
@JLSwipe has released a roadmap that includes updates and upgrades to v2. After the release of the roadmap, there are mixed opinions both supportive and against the plan.
and this is the breakdown
Key Highlights #1 - Non-Custodial
The Swipe Wallet will become non-custodial where users control their keys and funds at all times. This will allow the wallet to interact with DeFi based products directly. This makes the Swipe Wallet a gateway for new users to all DeFi products.
The Swipe Wallet will become non-custodial where users control their keys and funds at all times. This will allow the wallet to interact with DeFi based products directly. This makes the Swipe Wallet a gateway for new users to all DeFi products.
Key Highlights #2 - Card Wallet
There is another wallet for the card which will be custodial. Users can add crypto funds and use them via card with real-time conversions. There will be no fees moving between a card wallet and a non-custodial wallet.
There is another wallet for the card which will be custodial. Users can add crypto funds and use them via card with real-time conversions. There will be no fees moving between a card wallet and a non-custodial wallet.
Key Highlights #3 - DeFi Exchange
Swipe Swap, imagine Uniswap version built right in the Swipe wallet so there is no more MetaMask or any 3rd party wallet required. $SXP will be used as a governance token.
Swipe Swap, imagine Uniswap version built right in the Swipe wallet so there is no more MetaMask or any 3rd party wallet required. $SXP will be used as a governance token.
Key Highlights #4- Native Venus
(1/2) Unfortunately, Swipe Saving and Credit will be gone and replaced with integrated Venus. This probably due to complications and duplication of features between Swipe Saving and Venus.
(1/2) Unfortunately, Swipe Saving and Credit will be gone and replaced with integrated Venus. This probably due to complications and duplication of features between Swipe Saving and Venus.
Key Highlights #4- Native Venus
(2/2)
So instead of having two platforms competing for each other, it is better to co-exist and help each other.
(2/2)
So instead of having two platforms competing for each other, it is better to co-exist and help each other.
Key Highlights #5 - SXP as Gas
SXP will be utilized as gas currency for "delegated ETH wallet" which means users can pay SXP as gas for moving assets or interact with a contract through the delegated method which probably comes with Layer 2.
SXP will be utilized as gas currency for "delegated ETH wallet" which means users can pay SXP as gas for moving assets or interact with a contract through the delegated method which probably comes with Layer 2.
Key Highlights #6 - Swipe Layer 2
(1/2) There is not much information available, but my best guess is that this will use delegated wallet method to help Swipe Wallet users pay lesser gas by using $SXP instead of $ETH.
(1/2) There is not much information available, but my best guess is that this will use delegated wallet method to help Swipe Wallet users pay lesser gas by using $SXP instead of $ETH.
Key Highlights #6 - Swipe Layer 2
(2/2) This can be done by grouping transactions together and send as a batch and the fees of the batch will be paid by the delegated wallet.
(2/2) This can be done by grouping transactions together and send as a batch and the fees of the batch will be paid by the delegated wallet.
All of these features of Swipe Wallet v2 will come with a more friendly UX/UI, probably a new re-written app since the current doesn't seem to have much development for months just bug fixes and maintenance.
Key Updates #1 - SXP Tiers on Binance Cards
This could drive up demand for new cardholders who want higher rewards on Binance cards since the current Binance card tier seems to be out of reach for newcomers due to the rise of the BNB prices.
This could drive up demand for new cardholders who want higher rewards on Binance cards since the current Binance card tier seems to be out of reach for newcomers due to the rise of the BNB prices.
Key Updates #2 - Removal of Swipe Staking
(1/3) Currently, 40k $SXP is rewarding users who staked on-chain which in total is 14.6m additional new token adding to the system each year. This is extremely high emissions rates and steep inflations to overcome with any burn mechanism
(1/3) Currently, 40k $SXP is rewarding users who staked on-chain which in total is 14.6m additional new token adding to the system each year. This is extremely high emissions rates and steep inflations to overcome with any burn mechanism
Key Updates #2 - Removal of Swipe Staking
(2/3) By removing the staking rewards, the ecosystem is less inflated, and the new burn mechanisms will allow $SXP to become even more self-sustainable.
(2/3) By removing the staking rewards, the ecosystem is less inflated, and the new burn mechanisms will allow $SXP to become even more self-sustainable.
Key Updates #2 - Removal of Swipe Staking
(3/3) However, this isn't the end of $SXP rewards, there will be other protocols and systems that will give yield to SXP due to its value, which we already have Venus and Acrypto as an alternative to on-chain staking.
(3/3) However, this isn't the end of $SXP rewards, there will be other protocols and systems that will give yield to SXP due to its value, which we already have Venus and Acrypto as an alternative to on-chain staking.
Key Updates #3 - Transaction fees from farming
(1/2) Users can provide SXP-ETH and SXP-WBNB liquidity to receive to farm other digital assets including "SXP from transactions fees".
(1/2) Users can provide SXP-ETH and SXP-WBNB liquidity to receive to farm other digital assets including "SXP from transactions fees".
(2/2) I'm guessing that this method is introduced to avoid compliance with the regulation in some countries that if the token earns part of platform fees can be classified as a security token and need to be registered and will bring more limitation to the token and growth.
Key Updates #4 - Burning from any revenue will be halted
Swipe said it will be "halted" so this could also mean a temporary stop. As JL said earlier that the burn is associated with much more variables than just fees and revenues, which is currently being done manually every day
Swipe said it will be "halted" so this could also mean a temporary stop. As JL said earlier that the burn is associated with much more variables than just fees and revenues, which is currently being done manually every day
Key Updates #5 - Burning SXP from on-chain activities
(1/2) On-chain activities such as wallet contract, gas burns, IWO, swap will be a new burn mechanism for SXP.
(1/2) On-chain activities such as wallet contract, gas burns, IWO, swap will be a new burn mechanism for SXP.
(2/2) This may look like a promised land but judging from other platform's success that doesn't even have physical products or legit partnerships. I have no doubt the burn of these activities will far greater and more transparent than the revenue burn.
Key Updates #6 - SXP LP Token for IWO sales
Details should be announced soon since the IWO is coming.
Details should be announced soon since the IWO is coming.
Key Updates #7 - JL will burn 10M SXP on August 2021
A pure action @JLSwipe is devoting to the community to show his commitment to the platform. Although these tokens will be from founders unlock which some may consider as free it takes a lot of gut to throw away $25m.
A pure action @JLSwipe is devoting to the community to show his commitment to the platform. Although these tokens will be from founders unlock which some may consider as free it takes a lot of gut to throw away $25m.
@JLSwipe can keep those token when it is unlocked and dump them on us because he doesn't have any obligation to burn those tokens but he didn't last year and will do for a second time this year, so that's something to think about.
Key Updates #8 - Swipe Swap will be fully decentralized on launch
All of these analyses are based on my personal views as a holder, developer, entrepreneur, and a person who believes we're heading for a revolution of the financial system.
All of these analyses are based on my personal views as a holder, developer, entrepreneur, and a person who believes we're heading for a revolution of the financial system.
There is so much more than just staking rewards and cards in what Swipe Wallet is trying to accomplish and be in the crypto space. Swipe has accomplished many things compare to others in the top 50 or even 20. Remember,
"Price is what you pay, Value is what you get" - Warren B.
"Price is what you pay, Value is what you get" - Warren B.
