Dear KuCoin Users,
Please take note of the following schedule:
Deposits Effective Immediately
Trading: 18:00 on September 25, 2019 (UTC+8)
Withdrawal: 22:00 on September 25, 2019 (UTC+8)
Swipe is a digital application that offers a Multi-Asset Block and Swipe Oracle, which will provide real-time market data, prices, and liquidity. The company aims to bring crypto to commerce and standard banking. It intends to make paying with crypto easier by providing users with the means to use crypto from anywhere in the world. Also, the wallet infrastructure will host multiple blockchain systems, tied to a traditional debit card.
The platform is built on top of the Ethereum network, utilizing the smart contract functionality and the ERC20 type standard. The SXP token has utility purposes inside the ecosystem and is used as a gas or for discounts on fees, obtaining higher tier debit cards (by staking 300,000 SXP tokens for 3 months), and paying for gift cards. The team is relatively small and comprised mainly of mobile and blockchain developers. However, they seem capable of achieving their goals.
Whitepaper & Documentation
The whitepaper focuses mostly on the project's business presentation and platform usage. Overall, the team has made an excellent job of stating clearly what Swipe is about. The current problems are described and the solutions are given by Swipe. The revenue model is disclosed, namely generating lower transaction fees than its competitors.
Legal & Disclaimers Description
The risk section of the whitepaper states that the Terms and Conditions of the SXP Token Sale document are available, where investment, legal and regulatory, market and operational risks can be reviewed. Moreover, a legal disclaimer points out the informative purpose of the whitepaper and that it does not constitute an offer, invitation or any other sale or purchase of shares, securities or any of the assets. Overall, the whole section has plenty of information, covering the most important legal aspects of a crypto sale, such as restriction, procedures, and risks.
Platform and Token Use
Both the platform and token usage are sufficiently described. The use cases of the token are mentioned, in addition to its distribution. However, no information about the ICO is given. The platform's ecosystem is divided into a Swipe Card, Wallet, Liquidity Protocol, Pricing Module, Compliance AI, Banking Layer Platform, and Debit Card Processing System. Each is explained shortly.
Roadmap & Milestones
The roadmap is simple and easy to follow. The milestones are short but straightforward, yet more information about each milestone would be beneficial as, for example, no time period is given. Nevertheless, the roadmap addresses which milestones have been completed and which are currently ongoing.
Team & Advisors
Joselito Lizarondo – CEO
The Founder & CEO of Swipe has over six years of experience with startups and is responsible for the execution and vision of Swipe to enable millions of users worldwide to have access to cryptocurrencies tied to financial services. He started his entrepreneurship helping grow local business and seeing what it takes to provide world-class customer service and products.
Genji Sakamoto – CTO
Genji has over 20 years of software development and management and is responsible for managing and establishing a development team and executing Swipe's vision for bringing applications to production and ensuring quality for users worldwide. Genji graduated from Tokyo University of Science with a Bachelor's degree in Information Technology. Previous experience includes being a Senior System Developer at Miracle Technologies Inc, Mobile Developer and Blockchain Developer at Mascom Inc. (representing technology products for 25 years) and Top2gether. Former Executive Vice President/BlockChain Development at Aeryus (non-fungible blockchain transactional network). He is currently the Blockchain Director at No Rest Labs (creating a blockchain solution for startups and enterprise).
Zilong Sun – Mobile Director
Zilong has over 12 years of experience in mobile development, specifically native iOS & native Android applications. Sun is responsible for managing the mobile team to develop the Swipe Wallet connected to the Swipe Card on iOS and Android, alongside building future features and functions. Sun graduated from Tianjin University of Technology with a Bachelor's degree in Computer Science. He has also worked for Aimedis.
Chunzuo Wang – Blockchain Director
Chunzuo has over 9 years of full-stack senior development experience, bringing a high level of skills to blockchain applications. Chunzuo is responsible for developing the Swipe Oracle and its backend connected systems to ensure all of Swipe's services and features are aligned with its mission and vision. Chunzuo has finished Eastern Liaoning University with a Bachelor's degree in Computer Science. He has a background as a Project Manager & Web Engineer at Softline, Mobile developer and Blockchain developer for Imperial Capital LLC. and WeTrust Platform.
Bing Liu – Blockchain Director
Bing is said to have over 10 years of full-stack senior development experience and is responsible for developing the Swipe Oracle. He has worked as a System Administrator, currently as a Senior DevOps Engineer at Aimedis and No Rest Labs, and the Director/Blockchain Services at Aeryus. Bing has graduated from the Northeastern University China with a Bachelor's degree in Computer Software Engineering.
Team Skills & Experience
The team is small, comprised mostly of developers with experience in the mobile and blockchain industry. Members have previously worked together with most of them occupying senior managerial positions. Lastly, all have more than 10 years of working experience.
Advisors Background, Experience and Feedback
There is no information about the participation of any advisors.
Private Investors, Venture Capitals, Incubators
No private investors or VC have contributed to the project.
No partners have been announced yet.
Speed of Selling Out
The token sale information is limited, and details are not disclosed.
There have been no airdrops.
Talk on Project
The overall sentiment looks promising but there is not much discussion about Swipe.
Technology & Development
Type of Project
Swipe is a digital application that offers a Multi-Asset Blockchain Wallet, which allows users to store assets securely. Additionally, Swipe Oracle will be available in the future and will be a proprietary system designed by Swipe to provide real-time market data, prices, and liquidity. The Oracle will include Swipe Card, Wallet, Liquidity Protocol, Pricing Module, Compliance AI, Banking Layer Platform, and Debit Card Processing System.
Product Development Progress
The team has said that its platform is in the MVP stage.
Blockchain Technology Usage and Innovation
Swipe's system utilizes the Ethereum network and its smart contracts functionality to lock and stake tokens. It also uses Compliance Artificial Intelligence (CAI) to automate the KYC procedure and detect frauds. The Swipe Wallet itself will be integrating/operating with PCI Level 1 DSS certification and maintaining AES-256 encryption.
Dependencies to Third Party Platform or Service
The project is built on top of the Ethereum network and is dependent on it.
Decentralization of the System
There is not enough technical information available to determine the decentralization level of the platform.
System Security Measures
The smart contract has passed a security audit conducted by CertiK, which found only one small issue – outdated Compiler Version. Swipe is encrypted and maintains PCI Level 1 DSS Certification (standards governing online payments). All user funds are stored in cold storage, which eliminates the possibility of online attacks.
We sincerely appreciate your support and understanding, we hope this information proves useful to all users and potential investors.
The KuCoin Team