Many people are asking this question today due to the sudden rise in the price of its native token "SXP" after a great crash last year. Many have started to believe it is heavily undervalued in terms of other similar projects when compared fundamentally.
So what Swipe Wallet actually is? Is Swipe Wallet's native token "SXP " really undervalued heavily ?
Let's Dive into the Swipe World to find some answers to the most asked questions in the space right now. What the fundamental value of the native token of Swipe Wallet should be.
Swipe Wallet ??
Swipe Wallet is a Decentralised Finance Application [ DeFI ], DeFi is the most searched word on google and most trending topics of twitter this bull run. In this application one cannot just buy and sell cryptocurrencies but can also spend cryptocurrencies they hodl on real world purchases.
As it is being called a decentralised finance app, it for sure does have many other features apart from these two mentioned above. One of these features are the VISA backed Debit Card they offer their users to spend their cryptocurrencies.
Swipe Cards??
Swipe call it " The ultimate cryptocurrency to fiat funding Debit Card ". These cards are backed by one of the leading giants in the card space named "VISA ". According to data over 60 million merchants all across the world accepts "VISA" cards. Therefore you can spend cryptocurrencies using swipe wallet cards at 60 million merchants across the world. These cards comes in multiple options with different benefits and charges. But one thing is common among each of these cards, They all give cash back in bitcoin ??.
The following are the different cards offered by Swipe Wallet :
Image source: Swipe Wallet
Image Source : Swipe Wallet
Image Source : Swipe Wallet
Image Source : Swipe Wallet
To read more about cards please visit : Swipe Cards
Swipe Token - SXP??
The Swipe (SXP) Token is the native cryptocurrency that powers the Swipe ecosystem of products and governs the decentralised protocols.
- Swipe Token will be upgraded to a new v2 token contract to remove centralised control and enable all of the DeFi apps to be launched on the Swipe Network.
- Key Utility Users may use SXP towards transaction fees on the Swipe ecosystem of products such as the Swipe Wallet and Swipe Card.
- SXP can also be used for discounts on fees. Fees & Discounts SXP token holders have the ability to create proposals and vote for protocol changes on the Swipe Network.
- SXP can be bonded within the network to secure the protocol and receive staking rewards.
- Governance & Staking Swipe users can utilise SXP to pay at over 60 million merchants worldwide and transfer within the Ethereum & BINANCE blockchains.
So basically Swipe Token (SXP) is a utility based cryptocurrency designed to be the gas and fuel of the Swipe Network
Swipe Credit ??
Swipe Credit is the platform that powers the future of Swipe’s credit card products. Swipe Credit enables users to get access to an instant credit line with crypto collateral with interest rates as low as 5.9% .
- To take an instant credit, user needs to deposit some cryptocurrency as collateral in the swipe vault, after which they can take max credit line of 50% worth of the collateral deposited, at that time.
Swipe Savings ??
Crypto Savings Account
Swipe Savings enables users to earn up to 14% on their idle crypto holdings on the Swipe Wallet application. Users who utilise the Swipe Savings have the ability to deposit their cryptocurrencies and stable coins in interest-bearing accounts on the Swipe Wallet platform. Swipe Savings gives users options to utilise flexible accounts with no lock-up period or utilise higher interest-rate lock-up accounts to gain maximum interest on their cryptocurrencies. Swipe cardholder staking lock-ups will be included in Swipe Savings automatically.
Swipe Issuing
Swipe Issuing is a Card-as-a-Service (CaaS) platform that allows you to create, manage, and distribute virtual and physical cards while Swipe manages all the regulatory, compliance, and network responsibilities to quickly launch your program.
Swipe Networks??
A Decentralized Finance (DeFi) ecosystem.
Image source : Swipe Road map
As we know DeFi is the main boom in the crypto world right now, most probably every one currently trading in the crypto world is aware of DeFi. So why should swipe stay left behind in the latest tech of crypto era.
Hence they launched the DeFi Network, here they will be launching there own DeFi products. Few named above in the image. Currently there are 3 products live in the Decentralised application network of Swipe. SXP will act as a major fuel for this DeFi network of Swipe.
The Swipe DeFi network is working on two biggest blockchain currently via interoperability. These two networks are Ethereum and Binance Smart Chain.
According to the road map
Swipe will include cross-chain support for both Ethereum & Binance Smart Chain. Creating this bridge will enable users to participate and utilise decentralised applications that will be made available on both chains. Users will be able to swap their Ethereum based SXP token with a Binance Chain based SXP token for free at a 1:1 (one to one) ratio or vice versa without any fees.
***Support of this will be done via the Swipe Wallet App, a Decentralised Bridge App, and Binance.com.**
Swipe Governance ??
Swipe Governance enables SXP token holders to vote and initiate proposals on the Swipe Network. According to the road map with this protocol and with the SXP token upgrade, all centralised control and admin keys will be destroyed and the protocol will only be governed by the community.
Some of the governance protocol mentioned below from the road map.
- SXP Required to vote: 1
- SXP Required to submit proposals 300,000 SXP
- Governance will also be able to adjust all smart contract dynamic parameters such as but not limited to:
- Burn Rates Ecosystem
- Rewards Distributions
- Rewards Rates
- SXP Requirement minimums
- Transaction & Trading Fees
- Interest rates
- Adding Tokens
Swipe Swap ????
Image Source: Swipe Roadmap
Swipe Swap is an automated marketing making protocol that lets users swap tokens/coins from both Ethereum and Binance on-chain and enables participants to earn trading fees for providing liquidity. Pricing will be set by the originating providers and will fluctuate based on the open markets. Liquidity providers will earn a 0.25% trading fee on the protocol for supplying on-chain liquidity.
Swipe Staking ??
Swipe Staking is an on-chain protocol that enables users to participate in the collateral of the Swipe Network that powers real-time cryptocurrency to fiat conversions. Users will be able to wrap their Ethereum based SXP token with a Binance Smart Chain based SXP token for a 1:1 (one to one) ratio or vice versa. SXP that is staked within the staking contracts can be used to vote through a voting proxy contract to be implemented at a later date.
Conclusion
With so many products live and many more lined up and a current circulating supply of around 85 million ~ out of which a lot are being staked and
burned, it seems heavily undervalued in terms of price sitting at 3.95$ and rank 153.
If compare the charts in terms of USDT and BTC it looks like there is a lot of room for SXP to grow here, especially in the BTC chart if you look closely it has just started to break out in the below chart.
Also let's compare SXP with one of it rivals in fundamental.
Image source: coin marketcap { The image is bit old } but the prices are pretty similar as of today.- As you can see above in the comparison section of SXP and UNI tokens, swipe's SXP token is bit more scarce. The total volume trade is 2x less than Uniswap.
- Even the circulating supply is nowhere near the UNI token which is sitting at a massive circulating supply of 301 million ~.
- The image is bit old if you compare it with today prices. But we needed the constant information like supply.
- This comparison doesn't mean that SXP will overpower UNI, but to give you an idea how undervalued SXP is in terms of price when compared to a similar project.
So this basically means that the price per SXP token could very well be predicted to be somewhere around 50$ taking minimum price in concern, but this won't happen overnight. That's my call and not an investment advice.
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