/biz/ - Business & Finance

>Why should I invest into SXP?

There are a couple of reasons:

First, Swipe has a properly functioning product, which is something most crypto projects don’t have. The app now works perfectly and allows you to buy, sell, and transfer crypto without fees.

>>24376319
Second, as I mentioned the ecosystem is powered by SXP. When someone uses the network, SXP gets burned. The burn rate is increasing steadily. See picture. This means more and more people are using the product.

>>24376333
Third, you can stake SXP to secure the network for 25% APY. Not only that, SXP is one of the few projects that is true cross chain projects. It uses both Ethereum’s and Binance smart chain (BSC) chains. BSC is incredibly fast and cheap. It allows you to interact with your SXP for like 1% of what it would cost on Ethereum.

>>24376353
Fourth, sometime soon the Swipe cards will be migrated to Binance Card Platform (BCP). Don’t worry, BCP also uses Swipe’s network and you’ll still be able to stake SXP for the benefits.

>>24376379
Fifth, Swipe has a very active development team. SwipeX, Venus, Initial Wallet Offerings (IWO).

>>24376319
Lastly, SXP has a very good TA. It’s ATH was USD 5. It found its bottom at around USD 1. Now its price and volume are increasing. SXP is ready for a moon mission.

There are more reasons why to invest. Pic related. But as they are only rumours I don't wanna get into them too much

Can somone explain why biz hates this coin so much?

>>24376466
SImple. See this charts >>24376429.

A lot of people from Biz invested into SXP right before it went down 75%. They fomo'd into SXP and got burned. It's very hard to see something objectively if it costed you money.

But it's not SXP's fault. At that point of time SXP was doing +20% EVERY DAY. Such growth was not sustainable.

I’m already loaded on pee pee pee

I also forgot to mention that Swipe's closest competitor CRO, has a mcap of 10x. And honestly, CRO has a worse product than Swipe.

>>24376454
Absolutely clearly photoshoped

>>24376577
FTX CEO just retweeted.

>>24376312
You're comfy in an overpriced CZ scam? Guess you get to see how low whales can take it soon. Enjoy the 80% bleed.

DMG, tho... wew. imagine not...

This shit was almost $3 now it is less than $1

>>24376702
It was 5. So what? Btc was 20k and went down to 5k. Now it's back to 18k

Fellas, I found a post about duckdao.io, the first crypto incubator. Does anyone take part in this platform?
Seems like their DDIM tokenomic shows amazing results

>bullish
Kek

My monies got swiped. How do i profit from this?

>>24376333
The burn rate is so low, it won't have any effect on the total supply. Even if the burn rate doubled or tripled

>>24377138
The burn rate should increase more than 3x after the physical binance are shipped and the promotion begins. Also, there is the IWO that will happen soon, which should burn a few million sxp each

daily reminder that Binance and Swipe have 200 million from the non circulated supply they can dump. It's nothing compared to what gets burned on a yearly basis (about 4 million). Also why does Swipe team does not provide evidence to clear this up;

https://xangle.io/project/SXP/recent-disclosure/5fa2332d75c125dc3e2f116a

I ll just copy and paste

<Background for the Request>

According to the official Swipe whitepaper, the current circulating supply of the $SXP token is 78M as of November 2020 (Founder: 10M + Reserve: 8.4M + Team: 10.2M + Public Sale: 19.56M + Private Sale: 40.44M - Burn Amount: 10.6M).

The remaining tokens are to be vested and released upon its official schedule.

Recently, allegations were made that Swipe's vested tokens were moved from their original place into a Binance-tagged address. Combined with a drastic fall in price, this led to claims and rumors that the Swipe team had sold off their vested tokens on Binance.

A look at the following Etherscan links suggest that about 61.875M $SXP tokens from the Ecosystem Reserves were sent to the Binance Exchange Wallet:

https://etherscan.io/tx/0x46c86c3273a2eef8b254abceacdb3f4f1cf386a51b0fdc00396a742ec8f9fcbf
https://etherscan.io/tx/0xa6818f6cd8164160e4371ac68ef5e62f652ac8e9b61cb9d9596a96ddac4b74bc


When questioned about these transactions on Telegram, Joselito answered that the Ecosystem Reserves portion is controlled by Binance. However, many in the community feel that a short answer from the CEO is not enough to quash the rumors entirely.

<Request for Disclosure>

Xangle asks the project team to clearly address the market rumors by providing additional information regarding the raised issue. We ask that the project team provide proof that the custodial tokens on Binance have not been circulated/sold in an official statement.

>>24378077
This is such weak fud. There are no indication that the 200 mln is being currently sold or used in any way. The fact that the total supply is 300 mln (of witch only 1/3 is in circulation), has been known since the ico

What does this mean?

>>24376353
How does staking “secure the network” here? SXP stakers aren’t nodes

>>24377782
Still peanuts, meaningless

>>24378611
My personal opinion is that sxp stakes will be grandfathered in and be multiple times cheaper than locking BNB

>>24378931
The mainnet is currently in test mode. After it goes live, you will be able to switch to SXP network, and all transactions will be handled on chain.

>>24379036
I think your thinking is too small. Swipe has basically endless possibility. Binance won't be their only client. There can be many many companies that want to have their cards. You're thinking only about double or triple incresse in transactions. What about 10x? 50x? 1000x? Currently there is like 6k users. But the number is growing every day. And they are currently only available in Europe and semi available in USA (physical cards only started shipping). They are currently working hard on going live in Africa, Asia and Australia.

>>24376312
token not needed for sure and I would go as far to say project not needed.

>>24379357
There are also countless other crypto card providers, some that don't rely on their own token, etc.

Not saying SXP can't rise / moon, just saying the token burning is irrelevant.

>>24379496
But which ones of them have enough capital to compete? Swipe is backed by Binance. Binance is big enough to compete with any bank.