Swerri is a Decentralized Finance (DeFi) Protocol on the Polygon Blockchain which combines the power of DeFi in crypto and the functionalities of a decentralized exchange. It allows you to buy, convert, send crypto to phone number or wallet address just like any other exchange.

There is a part of Swerri that is centralized but the bigger part of Swerri is decentralized. We facilitate crypto on mobile so the mobile app and the components that facilitates transactions through users’ mobile identities are centralized. However, transactions between on blockchain are decentralized and can be exported to other decentralized exchanges if the user desires to.

Download the swerri App from the Playstore (Appstore later).You will be assigned an ERC-20 wallet address and you can begin begin transacting. Really simple !

Before you start using Swerri, you need to register: 1. Capture your phone number and email address…enter a verification code sent to either your email or phone number 2.Write down your recovery phrase. Your recovery phrase is the private key to your wallet address. It MUST be kept privately and safely and only you should have access to it, not even Swerri can help you if you lose that phrase. It gives you control to your crypto. We advise that you write it down and save it in a private and safe place, preferably offline.

Swerri does not hold your crypto, you are in charge of your own crypto assets Swerri is a decentralized exchange and does not keep any member’s crypto in custody!. If you lose your Recovery phrase and crypto keys, you might lose your crypto forever and even Swerri cannot help you recover them.

The Swerri Wallet is a non-custodial wallet issued on the Polygon chain, it is an ERC-20 wallet address. You can do this by importing your address using your Recovery Phrase. You can import the swerri wallet to any other Web 3.0 wallet such as Coinbase wallet extension or Metamask wallet extension. You can also import any ERC-20 wallet on swerri.

Currently, you can transact Ethereum, Solana, Dai, Matic, USDT, USDC, All ERC-20 tokens and the Swerri Swet Tokens. Other coins and tokens will be gradually added to the exchange.

On Swerri you can buy, send to phone number or wallet address, swap one token for another. You can create a circle of friends to trade, Lend and borrow

You can send crypto to anyone in the world who has a mobile phone number even if they are not registered on swerri. They will receive a text inviting them to download Swerri to receive their crypto once they register on Swerri. Remember to only send crypto to the correct address and the correct network it belongs. You may lose your crypto if you do not send it to the correct network where the address belongs.

You can double-check the first 4 digits and last 4 digits of any wallet Address where you want to send crypto for the first time. You can do this whether you enter the wallet Address manually, or if you copy and paste the address. We advise to always copy and paste the addresses to minimize errors while sending to an address.

1. In Swerri, click the Buy button
2. Once presented with Ramp and Onramper, click on the arrow to proceed:
3. Select the crypto you would like to buy and the amount you would wish to spend then select debit card or credit card as your payment method. You will be charged a fee by the provider and your bank may also charge an additional fee for card transactions.
4. Onramper is an aggregator who provides you with different payment platforms i.e., Coinify, Moonpay, Mercuryo, Indacoin, Utorg, you may select one that suits you.
5. The displayed amounts are an approximate calculation of the crypto that you will receive after fees.
6. If this is your first time on the platform and the first time to use the payment options available, you will be required to complete a KYC (Know Your Customer) process to confirm your identity. You will be asked to provide personal information and submit a valid form of ID by any of the provider.

Buying and selling services on Swerri are provided by third parties and the parties have conditions which you will comply. They will credit your crypto directly to your wallet.

At the point of registration, we capture your phone number and email address and the name you would like to use. Since we are a decentralized platform, we do not need any further KYC, and this is because our wallet is non-custodial, and every user is responsible and in control of their wallet.

There’s no way to cancel a transaction once it’s already happened since we are a decentralized exchange and thus cannot recover your crypto for you, so please be sure that you are sending to the correct person, phone number, or address. For every transaction that moves crypto from one address to another, we have the requirement to use a PIN, Fingerprint or OTP, once you use that then the transaction cannot be reversed.

There are several fees categories that you need to be aware of;

• Network fees – this is fees charged by different networks or blockchains to transact. We are not in control of these and we pay the same to you as is.
• Swerri transaction fees – Swerri Charges 0.025% transaction fees for a minimum transaction of $30.00 (on swerri transactions less than $30 are not allowed.) A maximum of $15.00 is charged and in any case no more than will be charged.
• Swerri convenience fees – These fees will be applicable in swerri circles when creating a new project, Lending or borrowing. It is a one off fee or 0.5% when the transaction happens.
• Interest on loans – Swerri shall keep 20% of the interest charged by lenders. If the total amount of interest is $200.00 then swerri will charge 20% of that amount.

All these fees above will be used to develop roadmap of swerri including security and development of the platform.

Swerri (SWET) Token The Swerri Token is the token that powers the Swerri Ecosystem. The token is abbreviated SWET. SWET is an ERC20 token issued on the Polygon Blockchain which has been built on top of the Ethereum Blockchain. SWET will be used as a method of payment and by becoming a member of Swerri you will be able to get discounts on loans, reduced platform fees, high yield returns and other benefits that may accrue.

For now, you can get Swerri Tokens from the app by clicking the GET swerri tokens button on your wallet page using your MATIC, USDC, USDT, later on shall be found in selected exchanges after ICO. You can buy, send, swap and pay the SWET Token just like any other cryptocurrency.

There is a fixed supply of 150,000,000 Swerri token in the market. The number of tokens will never be increased.

In the early access membership period (28th February 2022 to 21st March 2022), an address can acquire a maximum of 160,000 tokens. Going forward there will be no limit on the number of tokens one can hold

Yes, you can earn Swerri tokens when you invite friends to the platform and they are able to trade, creating a circle, making payments, lending and borrowing you shall earn 10 if the member acquires $1000 worth of swerri tokens then you earn 100 SWET tokens.

Burn mechanism will be exercised on the SWET token for a period of more than 8 years, the total fixed number of tokens issued will be 150M, 25% will be burned in year 3, 25% will be burned in a year 4. A further 25% will be burned in year 7 and year 8 respectively. After that, burn mechanism will be upon the discretion of the Swerri Community.

In the following couple of years it will be the objective of the swerri community to acquire usage of the swerri token at merchants for payment, Invoices shall be issued on the swerri platform and paid. Loyalty programs such as airline Miles and hotels benefits shall be accrued in form of Swerri token. Partnership with different blockchain communities, integration to oracles and availability on many more exchanges will be key to growth. For more check your email as registered from time to time as we update you on Swerri’s roadmap and milestones.

What is Swerri Circle? Swerri circles is the place where a swerri member will be able to invite friends and family to join together to trade, lend and borrow together. Swerri circles create DAOs (decentralized autonomous organizations) on top of the swerri framework. Swerri Circles are actually DAO’s with a social angle. Each DAO runs a smart contract with the properties that a DAO has agreed to. This means that individuals can create a circle of friends, who together can pool resources to take part in trading projects, can borrow from each other in a circle, guarantee each other for loans and much more.

In swerri circles a group of friends can create trading projects, contribute crypto to a smart contract, and achieve a trading goal. For example, a circle can contribute an amount of USDT every week to attain a goal and use that amount to acquire a position in trading on a platform. The primary aim of swerri circles is join together and take advantages of the economies of scale just like credit unions of old!

You can borrow once members of your circle have guaranteed the loan amount. Once the guaranteed amount is reached, just click borrow and using smart contracts, the crypto you have borrowed will be moved to your address. You can then send or pay using that crypto or sell it to get to get the fiat amount you needed.

You would borrow because if you sell your crypto you will lose any potential gain you accrue by holding the crypto you have. If your friends or family send you crypto, then they will also lose any advantage they have when holding such crypto. It is therefore better to borrow against such crypto.

You can borrow more than what you have as collateral depending on the value you have been guaranteed by members of your circle.

If a loan is defaulted, the smart contract will recover the principal loan amount and the interest from the guarantors of the member who had taken the loan.

In swerri you can borrow more than what you have, you however have to be guaranteed by your friends in circles to secure the loan just like a credit union. You will talk to such friends and since they know you and know if you may pay or not, then they will guarantee you.

Yes. If you guarantee someone and they do not pay, your crypto shall be liquidated and you will lose such crypto. As such always ensure that whoever you guarantee is able to pay within the time frame specified.

Yes. You can belong to many circles and borrow from other circles or lenders on the platform if you have enough guarantee for the loan.

On the Swerri roadmap, this is envisioned for Q2 of 2022.

No platform can be considered entirely risk free. The risks related to the Swerri platform are the smart contract risk (risk of a bug within the protocol ) and liquidation risk (risk on the collateral liquidation process). Every possible step has been taken to minimize the risk as much as possible-- the protocol is public and open source and it has been audited. Further, Swerri will conduct bug bounty campaigns that will call on the Swerri community to help us find bugs or vulnerabilities and earn rewards.