What is Swipe?
The Swipe Wallet has been designed to require Swipe Tokens SXP to perform all functions of the Wallet. Users on the Swipe Wallet will be able to buy, sell, and pay with their cryptocurrencies to fiat directly within the wallet application as well as purchase Gift Cards and make instant exchanges between all supported assets.
Users will be able to use their SXP tokens at launch with tiered benefits based on the SXP balance in the Wallet Contract. All Swipe Wallets require a 1 SXP deposit to activate and utilize on-chain functions based on an audited Smart Wallet-Contract to perform its duties. The protocol has been designed and built on Ethereum.
How Does Swipe Work?
Swipe was created with one mission in mind: Enabling Millions of Users access to Use Crypto.
With this vision, Swipe creates a platform that will be accessible to users worldwide via an Apple or Android device which enables them to buy, sell, or pay with cryptocurrencies at millions of locations worldwide. The plan to execute this vision starts with creating a highly-secure bank-grade digital Wallet infrastructure that will host multiple blockchain systems tied to a traditional debit card. With these two products users will be able to buy or sell cryptocurrencies to traditional fiat and they may link it to their traditional bank accounts while having the ability to store these cryptocurrencies on the Wallet to spend it via the debit card at millions of locations worldwide.
The Swipe Network is a proprietary system designed by Swipe to provide real time market data, prices, and liquidity for cryptocurrencies and within seconds convert them to local fiat being used on the Swipe Wallet or Swipe Card. The Swipe Network is also responsible for the interoperability of the Swipe product line. There will be both on-chain and off-chain versions of this protocol.
Swipe Network consists of:
- Liquidity protocol: The purpose of the Liquidity Protocol is to connect the Swipe Network to its exchange and OTC providers with a real time engine designated to source conversions and orders appropriately to the best platform to ensure the lowest slippage of any size order.
- Pricing Module: This system provides Swipe Wallet users with the best pricing available in the market which is sourced from the most liquid exchanges and OTC providers in the industry via our Swipe Network. When an order is executed it will source the best price available in real-time.
- Compliance A.I.: The Compliance Artificial Intelligence (CAI) is a system Swipe built from the ground up to ensure it meets all regulatory rules and procedures while ensuring smooth userexperience and user safety. CAI processes a series of fraud and risk rules to ensure frequently transactions and high-risk transactions are being blocked with geo-location features. CAI is also responsible for real-time automatic KYC directly built into the Swipe Wallet and connected via the Swipe Network to various global KYC providers.
- Banking Layer: The Swipe Wallet is powered by a backend banking layer to give users access to multi-currency banking systems. Have this banking layer built into the Swipe Network we are able to offer users crypto-to-fiat and fiat-to-crypto services through our banking networks and providers. These services can be used to make Wire/SEPA payments and local payment channels like ACH where available.
- Debit Card Processing System: This part of the Swipe Nework is essential to operating the Debit Card connected to the Swipe Wallet. This system allows users to control their debit card directly from the Swipe Wallet and link it to the cryptocurrency they plan to spend which will be converted at point-of-sale in real time. It will also support the issuance of virtual and physical cards with the adding to Apple and Google Pay digital wallets.
The Swipe Wallet has been architected and designed to offer users an unparalleled user experience and on-boarding process to mitigate any issues of use. The original availability of the Swipe Wallet will be on the Apple iOS App Store and Google Play Store for iPhone and Android based devices. It will give users the options to buy, sell, store, spend, and pay with cryptocurrencies while giving them market data, news, and insight for all supported assets on the platform.
The Swipe Card will be a major based debit card that will be able to be accepted at millions of locations worldwide. This Cryptocurrency Debit Card will be linked to the users Swipe Wallet and enable them to spend their cryptocurrencies with real-time conversion powered by the Swipe Network, which will be explained later in this white paper.
The Swipe Card will have the following features:
• Security Settings to Freeze and Un-Freeze the card
• Real-time spending history with geo-location of merchant
• Change PIN directly within the Swipe Wallet
• Utilize the Swipe Network for real time conversions
• Virtual & Physical Debit Cards
• Apple Pay & Google Pay compatible
• Swipe Rewards Program that gives users anywhere from 1%to 5% cash back on all purchases and with future enhanced cash back percentages at select retailers through our Swipe Offers program.
The Swipe Card will be a major debit card that will be useable at millions of locations worldwide. This card will be issued through a program manager and issuing bank with an existing debit card platform.
The Swipe Token is the ecosystems native cryptocurrency which fuels the services that are performed on the Swipe product line. The Swipe Token will be minted on the Ethereum Platform as an ERC20 standard token. There will be in existence 300,000,000 SXP tokens as a fixed supply. The SXP token is designed with a deflationary monetary supply as all transaction fees will consist the use of SXP via the Wallet Smart Contract powered by the Swipe Network autonomously with the code published publicly and audited.
Swipe (SXP) will be Listed on Atomars
Swipe (SXP) has announced that it will be listed on Atomars on the 30th of March and trading pairs will be: SXP/BTC and SXP/USDT.
About Atomars Exchange
Atomars exchange is a digital assets trading platform launched in June 2019. Atomars exchange is a fast, safe, secure, and user-friendly platform that seeks to make everyone enjoy their time. Most of the popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and many more are available on the platform. Their web and mobile apps provide ease of easy and fun trading on the go. Unique features include decentralized private user wallets, quick exchange, enhanced user portfolio and market barometer section.