The Swerri Token is the currency that powers the Swerri Ecosystem. The token is abbreviated SWET.
SWET is an BEP20 token issued on the Binance Smart Chain BlockChain. The advantages of building on an existing blockchain are that projects can develop tokens much more easily, and that as more applications adopt existing standards, more applications will continue to adopt them, leading to interoperability between more tokens and protocols. Tokens built on existing blockchains also benefit from the chain’s existing scalability and security, which is a big plus for SWET.
You can buy, send, pay and swap SWET like any other cryptocurrency. SWET will play an important role in Swerri’s growth and our mission of simplifying crypto. SWET will be used to make payments on the Swerri platfrom and energize different use cases. The Swerri platform envisions a community with access to many opportunities in crypto.
This will be achieved by rewarding members of the community for their commitment and support of the Swerri Ecosystem by holding the SWET Tokens. Participation in the Swerri Ecosystem will lead to accruing long term benefits.
SWET will be the primary utility currency on the swerri Platform The SWET Token will enable members to:
Further, the SWET Token will be used for the following:
Swerri Circles enables a member to create a circle, a community , a DAO that comes together and makes contributions in a pool. Using these contributions, members of the circle can propose projects in DeFi with an aim to earn together. Such projects could be new cryptocurrencies, Auto-staking projects, Yield Farms, Nodes or any such project that has potential to grow.
In Swerri Circles, Members are also able to borrow and lend. Members can guarantee each other and allow each other to access credit that would otherwise not be possible. Members who support or guarantee others to borrow earn interest for the guarantee and for taking the risk which may lead to loss of their crypto.
Swerri Circles creates new opportunities, brings together members from anywhere in the world and allows them to grow together. Swerri circles introduces a new form of Social Engagement in Crypto. That is the power of Swerri Circles.
For every token acquired get another token during the early access period.
A total of 4 million tokens will be issued in a limited early access period from the 21st of FEB to 14th March 2022. In this period 2.7% of the SWET tokens will be acquired by a group of early access members.
Burn mechanism is a core part of mantaining a successful token economy. The law of supply and demand is one of the fundamental drivers of value, where: Less supply and more demand = rise in value.
Burn mechanism will be exercised on the SWET token for over 8 years, the total fixed number of tokens issued will be 150 M, 25% will be burned in year 3, 25% will be burned in year 4 then again will be burned in year 7 and year 8 in the same proportions. After that, burn mechanism will be upon the discretion of the Swerri Community.
The SWET Token will be the primary driver and energizer of innovation within the Swerri Ecosystem. Members who hold the token will have a chance to contribute to the mission of Swerri i.e to bring DeFi to the World and to enable many access Decentralized financial services on their phones.
At Swerri we believe in joining together and leveraging in the power of community to achieve a better tomorrow for all. Swerri Circles anables everyone to Join and Grow together.