- Team Giottus
Giottus will support Swipe’s (SXP) migration and rebranding as Solar (SXP). (read more)
Ratio of migration: All SXP tokens have been auto-migrated to the Solar mainnet at a ratio of 1 Swipe (SXP) = 1 Solar (SXP)
Solar in a gist
Swipe is a crypto wallet ecosystem that provides card payment infrastructure. The primary aim of Solar is to create an easy connection between different crypto assets.
Founded in 2018 by Joselito Lizarondo, Swipe has developed a range of products to provide users with easy access to crypto payments. Their ecosystem includes wallets, debit cards, a network that controls both off- and on-chain systems, a swap protocol, and staking services which are all governed by the community through Swipe Governance.
Swipe quickly launched its crypto card and integration with Apple Pay and Samsung Pay in 2019 and their Visa cards are currently accepted as a payment alternative at more than 60 million retail points across the world.
In July 2022, Binance acquired a majority stake in the company followed up in December 2022 by acquiring the remaining outstanding shares to boost crypto adoption. The project has been rebranded subsequently to Solar.
SXP: Deflationary in nature
SXP is the native token for the Solar blockchain and acts as exclusive governance and utility token to the network. SXP is deflationary in nature, thanks to its burning mechanism. SXP paid in transaction fees for creating and launching digital assets are burned in full. SXP has a circulating supply of 559 million tokens and is trading at $0.63 as of today. Currently, SXP is going through an intensive rally and has surged 130% in the past seven days. This has led to a massive buying spree and the daily trading volume has risen to ~$976 million from ~$4-$5 million.
