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.
Binance Smart Chain
Supply Burning Notice (01/03/2021)
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, subsequently reissuing these tokens on the Binance Smart Chain as BSAPG tokens. Our users can migrate to the Binance Smart Chain at any time, for free, using Nova Bank's platform.
Supply Burning Notice (02/03/2021)
On 22 March 2021 the Treasury has burned 392,550 BSAPG tokens (on Binance Smart Chain) as a result of unsold tokens in our presale round. These tokens were permanently burned, taking the total token supply (at the time) down from 3m to 2.6m.
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.