Swaap Governance (SAPG) is our governance token, and can be used to vote on our governance pools and decide on important coding and platform updates.
Supply Burning Notice
On 1 March 2021 the Treasury has burned half of the total supply of SAPG on the Ethereum blockchain, bringing the total supply (at the time) from 3m to 1.5m tokens. The ERC-20 tokens were burned to be reissued as BEP-20 tokens on the Binance Smart Chain. The decision to expand our platform to Binance Smart Chain was due to excessive transaction fees on the Ethereum network, which we consider very detrimental to retail users operating small transactions, and wipes away most of the benefits and advantages that our platform aims to provide to these small retail individuals. We encourage all our users to migrate to the Binance Smart Chain, and we will allow all token holders to convert their balances for free, using Nova Bank's platform.
Swaap Governance tokens can be used to vote on our governance pools and help on shaping the future of the Swaap platform. Differently from our utility tokens, SAPGs have a fixed maximum allowed inflation rate of 1% per year, which means that only 1% of the total supply can be minted every year, and the decision of rather or not to use this right, will be subject to the result of a governance pool, conducted yearly.
Tokens Initial Distribution
The governance tokens will be distributed throughout the initial stages of the project and the yearly minted inflation tokens - if any - will be sold to the community through decentralized exchanges.
Staking & Bounty Rewards
Used to pay for the bounty campaign and staking rewards.
Founders & Early Supporters
Tokens to be distributed to founders and early supporters.
Seed Investors & Venture Capital
To be sold during the presale round. Any unsold tokens will be burned.
Project Costs, Research & Development
Will be used to pay for R&D and general expenditures.
Community & Broad Market
To be fully distributed to the community.