SWYFT – Boldly Setting Sail for 2020!
To address questions for investors and newcomers looking into our project, we will write a bit about what we are trying to achieve over the month of January and our vision for 2020 and how we think cryptocurrency can disrupt markets.
Since the formation of SWYFT from the merge of SATC and BiFrost, the project team has been working diligently to develop a vision for the future of our ecosystem and how we think cryptocurrency can disrupt markets to benefit the general public. This process has been difficult at times, since we’ve had to examine the very foundations of what we know about the current state of crypto and then apply some hard lessons that we’ve learned over the past two years.
We had general ideas about how we, as consumers, would want to use cryptocurrency, but the path from where we were as a project to where we want to go was not clearly in focus. The goal is to demonstrate how cryptocurrency will disrupt markets.
This self-examination process led to some unexpected revelations that have caused the team to pivot from the philosophy of a stand-alone boutique blockchain project to an ecosystem approach that leverages our strengths as a business team. The highly technical detail of the blockchain infrastructure will be left to project teams with dozens of specialized programmers and millions in funding.
While we admire the teams building the foundations of blockchain technology, we feel that those projects lack the time or ability to properly apply those technologies to solving real-world business problems for consumers. The vision of how to apply blockchain to help consumers is where our strength as a project lies. It is in this area where we have concentrated our efforts in the creation of the SWYFT ecosystem.
We are elated to share the following details of what we have been working on as a team. This is the foundation that will pave the way to what we want to accomplish in 2020 and beyond! Disrupting markets.
Activity levels are highly energized in developing infrastructure, writing content, road map / White-paper updates, a re-examination of the website design and a multitude of other actions to better delineate and differentiate SWYFT.
We intend to conclude the previously mentioned transformation no later than the 20th of January. This transition will then lead to the the deployment of our new Eco system Model and culminate to the coin to token swap for this community by the end of January.
From Blockchain to Token Approach -Disrupt Markets
The idea of running our own island blockchain trying to compete with multi-million dollar corporations with dozens of developers creating and enhancing technology seems ludicrous. In reality, aside from a very small group of projects, Masternodes have done little to enhance the utility or scaleability of cryptocurrency systems.
Masternodes have been little more than a weak method to control supply by paying people to lock up significant amounts of coins in exchange for larger blockchain rewards. This methodology to control supply has been a relative failure as Masternodes can be decommissioned at will and their collateral liquidated; most often to the detriment of the overall market. The reason we are trying to find ways for cryptocurrency to disrupt markets.
The fact that SWYFT can replicate a Masternode type reward system within a tokenized ecosystem should force investors to question the very existence of the Masternode system . This may be exactly why the Masternode blockchain space has been flooded with scams and failed projects over the past 2-3 years.
The scheduled Reward System built into the algorithm of the block chain leads us to be completely inflexible when it comes to controlling the ROI for price stability without a hard fork and wallet update. These challenges face all Masternode coins, since their outlook is completely estimated against a backdrop of market conditions and competitor advantages.
Masternode systems are also riddled with technical tasks such as checking and maintaining local wallets, ensuring VPS servers are running, the VPS Server costs (often overlooked when calculating returns). This includes service provider server updates and scheduled maintenance, delayed frequency restarts while setting up new collateral when rewards allow.
The biggest concomitant factor against today’s mobile orientated society is that it restricts investors to a local machine. This outdated approach moves in the opposite direction to the standards being set by most industries today. It’s time to disrupt markets.
Considering the above, becoming a completely mobile orientated tokenized business led to the thought processes and delivery points below:
The STQ takeover was a strategic move to increase the footprint, reach and expansion of the liquidity of our project for the entire coin community. This will exponentially grow the foundation of our reach as to the deployment of our vision for 2020.
By contributing to the improvement of the crypto market in general by orchestrating one of the largest and most significant takeovers of 2019, SWYFT now has the ability to look inward at our business model. Making paramount strides in creating a USP (unique selling point) for ourselves and Personal/Institutional Investors is our mission and intention.
ETA Conclusion of Coin to Token Swap (EST ETA JAN 2020)
Mobile SWYFT Wallet (IOS / ANDROID) Tokenized passive income
Everything we are delivering will now be based outside of a local computer and within a mobile orientated App. The SWYFT Mobile wallet will make it easy to deploy new smart contract additions, push out updates, push out notifications on news and make it an easier entry point to anyone coming into the market to earn a passive and a controlled ROI. It will also come with a lot of extended features to be touched on later.
The SwyftT token has been designed to still reward a passive income to all investors. This is paid out in two ways:
A Dividend type function where you will call your rewards monthly when announced from a smart contract redemption function (time frame restricted) within the mobile wallet. It is a simple call to have dividend rewards delivered directly to your wallet.
Unlike staking, which is a competition model against each block, this is a pure weight-distributed dividend for doing nothing but holding. It’s important to note that dividends are paid by address, so if tokens are held on an exchange, dividends will not be available the the exchange account holder; providing a strong incentive to hold tokens in wallets instead of exchanges. Disrupt markets.
Written Waiting Platform EST ETA JAN 2020 (Redemption Fees apply <$1)
The second passive income method will be vesting contracts. Much like Masternodes, these will have a minimum collateral deposit, but with no maximum. Users get to choose the time frame of which they want to lock up their tokens. Longer contracts paying an increased ROI. This will also give users flexibility to take advantage of several contracts at the same time, including leaving some in their main balance for dividends.
To make informed decisions about liquid availability, a dashboard will help you understand the expiry and volume of tokens released in any current month. Plan what time frames to take advantage of.
While users will not have the ability to directly remove their tokens from the contract, they will have the ability to request a breach of the terms of the contract via the project dashboard. This however negates them receiving any reward other than their initial stake. The longer-term plan is to be automated and will RSS feed into the dashboard upon request and be completed within 7 days allowing others to understand the additional volume not represented on first view.
It’s worth noting that the ROI dictated on contract acceptance is an exact representation of what you will receive; unlike Masternodes which rely on how many nodes are on the network and frequency of reward selection.
SCOPING ETA FEB 2020 (Setup fees apply from $1)
Other Features will be deployed within the Mobile wallet on Launch by end of January including the continuation of the STQ to SWYFTT Swap, the Coin to Token Swap call and the token purchase function we have already created for new investors.
Helping With Investor Value and Initial Delivery
One of the major initiatives we are reviewing is laid out in our “Blue Sky” document (See our blog entry “The SWYFT Vision – Long Term with Bold Projects” on swyft.network.) We will be introducing a non fungible token that is tethered to fiat. This will be available within the mobile wallet (ETA 2020)
Investors will have the ability (in a bear market) to swap their SWYFTT for a tethered token locking in their value. At that point you can buy back into SWYFTT enhancing your position which will offset any price volatility.
Recovery of tether tokens to fiat will only be available for merchant settlements. The principal will remain the same and will be a guaranteed return of $0.96 cents to the $1 payable back in Tokens.
While the Tether token will be a payment method alongside our token, it does offer Merchants a guaranteed buy-back as opposed to the potential price volatility swings with a floating currency like SWYFTT. That said, we would suggest this has been designed specifically to keep control on a flexible pay out design. This to be alongside liquid availability with a growing backdrop of project delivery and adoption.
The SWYFTT will offer a discount when utilized as a payment method but will be price related. These two Tokens offer our business to a wealth of investor care.
An investible option into the tether token will be available which in the future locks the serials against the origination purchase address. This will allow for 4% the business receives through merchant use recovery. 2% of this transaction will be returned in ETH back to the original investor. IF the serial cycles 10-20 times a month the origination address could receive 50% of the value that the individual 4% return gained through those cycles.
However, we have the option to replicate this model against the Token to Tether swap to gain further position within the token also.
Collaborating with the designed payment gateway modules to support Shopify, WooCommerce, Magento alongside others will allow us to reach out to adopt crypto-based payments within e-commerce businesses while gaining confidence by backing the recovery. We are currently in talks to a large Australian e-commerce business by way of testing and verifying our method.
IMPORTANT – We have decided that we will grow in the Payment Gateway space before we conceptually look at a design for a store. The Store concept design will need a review on all models (Craigslist, Shopify, eBay and Amazon). We intend on making an advancement into this within 2020. A Craigslist (peer to peer) type system based on pinned location within our mobile wallet will be the first integration to a store deployment (EST ETA 2020)
Conclusion and Coin to Token Swap
We firmly believe that we looked at Dash as a business model as they were one of the first Masternode coins to succeed in that space with the duplication that followed.
The above, simply based on a mobile orientated investor passive income platform, will lead us into a great USP against entrants to our market and the ease of use to have fully informed earning. The model definitely incorporates accessibility with the removal of constant support to ability and will enable us to bring DAPPS and use cases to the market a more quickly and efficiently.
January will be a busy month to prepare ourselves contextually, build upon our marketing plan on what we are delivering and physically deploying it. We can say with confidence we are currently on pace be on target with our plans. Disrupting markets.
The coin to Token swap will happen when the mobile wallet is ready. The platform for dividend redemption calls has been created (contract already written) and the swap platform has been completed.
There will be an incentive regarding the price swap consideration to the token for the coin community to enhance your current position. Keeping the supply low is essential, however it will settle where it is likely to end up as the forces of the Token or Coin making moves will obviously affect this.
At the time of this communication, Graviex will be asked to cease trading on an exact date so that it stays stable. We will fork the coin wallet to stop any large rewards to ensure that the supply stays relatively static and the incentive for profiteering is removed. The SWYFT coin swap will run until the end of March; aligning to the STQ timeline.
Following the 31st of March, if you have not swapped, you can ask for is a good will gesture for what you have. Again, this will be a fraction of what you could have earned if you stay engaged in your investments. The incentive will be announced once finalized as a team.
The immediate importance for us is to ensure the processes are described clearly and that the delivery of what we have committed to is completed by the end of the month.
Hopefully, considering the above, everyone looks to protect the price against your investment if you wish to continue to support the project based on the value we will obtain. Due to a change in leadership and the expansion of the team, we have reached huge milestones in developing something revolutionary for the industry. SWYFT is strategically changing the direction of the business to include the market needs as opposed to what we think it wants.
This WILL be a very successful year and we look forward to sharing our success with you as we determine how we can use cryptocurrency to disrupt markets.
We are always available for direct questions via DM.
Mike Havard (SWYFT CEO)