Unveiling Swash Smoke: Community-driven mechanisms to burn 10% of the total $SWASH supply🔥

To get $SWASH into the top 200 tokens by Q4 2022, and drive value back to ecosystem stakeholders, Swash is giving community members the power to launch an array of token burn campaigns, kickstart the Swash DAO, and propel the Swash movement to new heights.

Token burning is an effective mechanism for incentivising ecosystem stakeholders and limiting the supply of tokens, typically with objectives-based or time-based conditions. Swash is launching 6 different burn mechanisms based on $SWASH tokenomics.

The tokenomics-based incentives within the Swash ecosystem will be taken from the Ecosystem & DAO Growth and Community & Platform Rewards pools which, combined, amount to 28% of the total supply, 280 million $SWASH.

Taken from those pools, 10% of the total supply will be burnt (aka 100 million $SWASH). The rest will be for referrals, airdrops, staking programs, and to launch the Swash DAO!

🚀 What to expect

Rapid user growth has made the Swash Data Union app one of the biggest apps in the Web 3 space. As a people-powered movement, Swash is always exploring new ways to benefit its members and token holders as the true owners of the project to multiply its impact.

Swash Smoke — the group of token burn mechanisms for the Swash ecosystem — is a result of thorough research of proven best practices by notable projects with successful token burn initiatives, such as Binance, Polkadot, Shiba Inu, and IoTeX.

By implementing Swash Smoke, you will:

• Scale up the Swash community through tokenomics-based incentives
• Enable the community to impact the performance of the Swash token
• Drive value to ecosystem stakeholders
• Supercharge new product releases and return their generated value to strengthen the Swash token
• Kickstart the Swash DAO

Stay informed on the launch of each burning mechanism by following the Swash blog and social channels. You can also track the status of each Swash Smoke burn here.

Keep reading to learn more about each token burn structure, when they’ll launch, and why you should be pumped about Swash Smoke!

A closer look at Swash Smoke token burn campaigns

🌋 User Growth Burn: Heating up Swash app community growth by burning 30M $SWASH

Indicative launch date: Live and counting, triggered when Swash reaches 1M active users
How to trigger burn: Install Swash app and invite your friends to reach the first 1M users sooner
How to stay informed: Track the status of each Swash Smoke burn 👉 here 👈
Number of tokens to be burnt: 30,000,000 $SWASH

This token burn mechanism will be ignited through active user growth of the Swash ecosystem. An active user is someone who has the Data Union app installed and switched on for 30 days or more.

Starting from when Swash reaches 1M active users, Swash will burn 4M $SWASH tokens for every million new users, amounting to a total of 20,000,000 $SWASH burnt by the time 5M active users are reached.

After 5M active users have been reached, a further 10M $SWASH tokens will be burnt on the route to 100M users.

Early Adopters are highly valued by Swash, which is why more tokens will be burnt in the first half of the User Growth campaign (until the first 5M active users are reached). As the community grows to 100M active users, new joiners will still be able to benefit but not as much as the Early Adopters.

The tokens will be burnt using a decreasing function, starting by burning 550K tokens and gradually decreasing until 55K tokens are burnt when reaching the 100M user mark, according to the following function:

💸 Ecosystem Revenue burn: 40M $SWASH to be repurchased from project earnings

Indicative launch date: Now live, track it here
How to trigger burn: Install Swash app and keep it switched on to generate more data
How to stay informed: Track the status of each Swash Smoke burn 👉 here 👈
Number of tokens to be burnt: 40,000,000 $SWASH

The Swash ecosystem is set to generate various direct and indirect revenue streams. These include earnings made from the sale of data products to businesses and through subscriptions plus developer use cases such as fees required to access sApps and sCompute. You can read more about the different types of Swash value streams in the whitepaper.

Currently, 70% of profits generated goes to members and 30% to Swash to cover operations. Members will continue receiving their rewards as normal while Swash’s portion of earnings will be periodically burnt until reaching the cap of 40,000,000.

👨‍🍳 Alternative Revenue burn: Baking-in burns for new revenue streams

Indicative launch date: Continuous (as new revenue streams are created)
How to stay informed: Track the status of each Swash Smoke burn 👉 here 👈
Number of tokens to be burnt: 15,000,000

As the Swash ecosystem expands, new developments and unforeseen innovations that will create additional value chains within the platform or by exchanging value with other ecosystems are to be expected. Swash is dedicated to staying ahead of the curve of rapid innovations in the Web 3 space by continuing ongoing research and development around emerging trends.

To bake-in incentives for Swash stakeholders, Swash’s Alternative Revenue burn campaign will ensure that the revenue Swash receives from these new streams will be assigned to buying back $SWASH and burning them, until the cap of 15,000,000 $SWASH is reached.

🌐 DAO Ignition burn: Sparking the biggest DAO campaign in 2022

Indicative launch date: Q1 2022
How to trigger burn: Register for the grand prize, hodl to trigger Swash to burn more tokens
How to stay informed: Check this webpage for the latest info and track the status of each Swash Smoke burn 👉 here 👈
Number of tokens to be burnt: 5,000,000

As part of Swash’s road to decentralisation, the Swash DAO will enable $SWASH holders to vote on the future direction of the movement.

Decentralised Autonomous Organisations (DAO) are an exciting evolution of Web 3 governance and hold vast potential for decision-making and innovation at a societal level. However, as they remain in their infancy, one hurdle yet to overcome is to attract large volumes of people to DAOs for true decentralised decision-making.

Swash’s DAO Ignition campaign is to jumpstart the Swash ecosystem DAO. This will also boost $SWASH token adoption and encourage holders across all chains — currently Ethereum, Gnosis Chain (xDai) and, most recently, Polygon, with others coming in the near future.

DAO Ignition is a one-of-a-kind competition with a grand prize where you can enter by holding a minimum number of Swash tokens for a set period of time.

Everyone who participates will become Swash DAO members and 10% of the monthly average of the amount held by the community for the duration of the DAO campaign will be burnt by Swash until reaching the cap of 5,000,000 $SWASH.

Details on DAO Ignition and the rules to participate can be found here.

Follow the latest stats on the number of burnt tokens and their transactions right here. Soon, you can also monitor the prize pool and see how many participants are taking part in the DAO Ignition campaign so everyone in the community can keep track!

If the total prize amount of $300K is met, Swash will also make a generous donation to charity as part of the Swash Data for Good program!

🐼 Donate-to-burn: Swash to match EVERY single Data for Good donation

Indicative launch date: Q2 2022
How to trigger burn: Donate to charities through the Data for Good feature
How to stay informed: Track the status of each Swash Smoke burn 👉 here 👈
Number of tokens to be burnt: 5,000,000

The Data for Good feature — found within the Swash app — will not only enable Swash members to donate to their favourite charities, it will also help to grow the Swash Data Union by attracting new and diverse audiences.

Once installed, Swash allows people to earn for the value of their data as they browse, without having to do anything differently. This ease of use is crucial for adoption which is why the donations feature is equally as frictionless.

For every 1 $SWASH donated by the community through the Swash app’s Data for Good feature, the Swash team will burn 1 $SWASH until the max cap of 5,000,000 has been reached.

Here’s the dedicated webpage showing all of the latest stats on the number of burnt tokens and their transactions, providing full transparency.

🌊 Stake-Smoke: Maximising earnings with $SWASH staking

Indicative launch date: Q1 2022
How to trigger burn: Stake your $SWASH in the upcoming native Swash pools
How to stay informed: Stake your tokens and track the status of each Swash Smoke burn 👉 here 👈
Number of tokens to be burnt: 20% of total $SWASH staked in the upcoming native pools

Swash staking has taken place both natively and through various CEXs and DEXs. Major exchanges listing $SWASH, like KuCoin and Gate.io have hosted staking competitions already with plenty more lined up for the future.

The new Swash staking program is now live! Connect your wallet to start staking and earn rewards. You will see the pool info after connecting your wallet.

Staking is available on all 3 chains. Swash is available on (Ethereum, Polygon, and Gnosis Chain/xDai).

APY: 100%
Stake token: $SWASH
Rewards in: $SWASH
Lockup: 3 months
Cap on Ethereum: 4M
Cap on Polygon: 6M
Cap on Gnosis Chain/xDai: 2M

By staking your Swash in the upcoming native Swash staking programs, stakers will not only receive rewards but they will also trigger Swash to burn the equivalent of 20% of the total amount staked, until a cap of 5,000,000 has been met.

💰 What’s in it for me?

The token burn mechanisms are centred on driving value to the Swash ecosystem stakeholders.

Swash is a community-driven project. To get closer to decentralisation and truly balance the future data economy, Swash app members and token holders need new ways to make an even bigger impact.

If you want in, here’s what to expect:

• Join the Swash Data Union by installing the Swash app and inviting your friends to join and remain active for at least 30 days.
  This will not only help to grow the ecosystem, it will also activate the first token burn campaign. That means you will be earning $SWASH by joining the app, earning referral rewards by inviting others, and increasing the scarcity of the Swash token.
• Participate in the Swash DAO Ignition competition when the program goes live. Not only will you be in for a chance to win the prize, but you will also be accepted as a Swash DAO member!
  By taking part in the Swash DAO Ignition campaign, you will also trigger the project team to burn more of their tokens, reducing the overall supply. Make sure to invite your friends to increase the prize pool
• Donate to charity through the Swash app Data for Good feature for Swash to burn the equivalent to your donation
• Stake your $SWASH in the upcoming native Swash pools to trigger Swash to burn the equivalent of 20% of the total amount staked in the upcoming native pools.

Be sure to follow the DAO Ignition webpage while the campaign is live and keep track of all token burns as they happen here!

Disclaimer:

This blog does not constitute an offer of securities or a promotion, invitation or solicitation for investment purposes. The details of this blog are subject to change at the sole discretion of the team. The terms of the contribution are therefore not intended to be a financial services offering document or a prospectus. The purchase of tokens represents a high risk to any contributor. Tokens do not represent equity, shares, units, royalties or rights to capital, profit or income in the network or software or in the entity that issues tokens or any other company or intellectual property associated with the network or any other public or private enterprise, corporation, foundation or other entity in any jurisdiction.

About Swash
At Swash, if it’s your data, it’s your income.

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.

As the world’s leading Data Union, 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.

Join the biggest data movement in Web 3:

Let’s connect:Twitter | Telegram | Reddit | LinkedIn | Website | DAO Ignition

Originally published at https://swashapp.io on December 24, 2021.