Seasons change for Swash: The IDO and Beyond

This weekend marked a turning point for Swash.

Swash

Nov 1, 2021 — 3 min read

This weekend marked a turning point for Swash.

After over a year in the making, the $SWASH token was born, jumpstarting the evolution of Swash from a data monetisation app into a fully-fledged data ecosystem.

Swash was born as a solution to the problems of today’s data economy, driven by the urgent need to reform the current way we do data. Instead of a system that bleeds agency from individuals, we’re replacing it with one where people can reclaim their data dignity, businesses can thrive, and developers can innovate with ease.

Expanding from the successes and learnings of the live Swash application, the enhanced Swash ecosystem will bring individuals, businesses, and developers together through revolutionary incentivisation mechanisms that cater to the needs of everyone. Unique tools and innovations will make it possible for all actors to cultivate fresh realities of data ownership and value creation.

The Public Sale

The much-anticipated IDO saw over 45,000 people register for whitelisting. The IDO started several days later at 00:00:01 on October 29 and closed at 23:59:59 on October 30, and was the final stage of Swash’s fundraising activities ahead of launching the native ecosystem utility and governance token, $SWASH — the fuel for the Swash universe. The IDO, much like the private round that closed at $7MM several weeks ago, was oversubscribed and met with unprecedented interest.

The response from the existing and new Swash community reveals a keen appetite for better data standards. Swash’s position as the solution to the data scandals, shady scraping, and tightening regulation offers people, businesses, and developers a way to collaborate and benefit in a transparent and sustainable way, without compromising on security.

However, with this grand mission and support comes great responsibility. We’re committed to delivering on our promises as the mission Swash strives for is something bigger than all of us. Swash is a movement for changing the data paradigm and that’s going to take a lot of people power.

The $SWASH IDO in numbers

Total raised: $19MM
Public sale: $12MM
Private sale: $7MM
Auction initial price: $0.09
Final clearing price: $0.24
Number of unique bidders: 2426
Number of winners: 1429
Tokens sold: 50M $SWASH
24h volume post IDO: $100MM+
24h Avg. price post IDO: $0.7

What’s next?

Right after the auction was settled and the clearing price was determined, $SWASH was listed on KuCoin, Gate.io, MEXC, Uniswap, and Honeyswap.

Other upcoming activities include the release of the brand new version of the Swash app complete with a new referral program and Data for Good feature, more media features and events, deep dives into Swash’s First Wave Solutions, and introducing you to the advisors and partners in the Swash network.

Longer term, the Swash ecosystem roadmap is heavily focused on development, partnerships and market expansion. Taking our learnings from the already-live Swash app, the technical team have already begun development for the sIntelligence platform — a Competitive and Market Intelligence web-based platform — catapulting Swash into the Surf stage of the roadmap.

Along with sIntelligence development, Surf will also bring:

Continued user growth for the Swash app
Integrating the Data for Good feature technically and through partnerships with social impact global organisations
Expanded browser integrations and web store publications
Data buyer outreach through aggregator and marketplace integrations
Develop the Data at Rest and Integrator layers to manage collected data before building the Query and Search capabilities
Launch the first version of Swash smart contracts to enable equal revenue distribution between Swash members

A huge thank you to the Swash community, partners, advisors, and friends who supported the Swash mission and made this possible.

There’s a long list of supporters to thank, but here are some of them:

About Swash

Swash is an ecosystem of tools and services that enable people, businesses, and developers to unlock the latent value of data by pooling, securely sharing, and monetising its value.

People share their data to earn while retaining their privacy. Businesses access high-quality, zero-party data in a sustainable and compliant way. Developers set up and build systems within a collaborative development framework with ease.

Swash is reimagining data ownership by enabling all actors of the data economy to earn, access, build and collaborate in a liquid digital ecosystem for data.

Originally published at https://swashapp.io on November 1, 2021.