The Swash team is excited to announce that the private sale has officially closed, with a total of $7MM being raised in an oversubscribed round. The raise included leading venture capitalists and angel investors, including KuCoin, Outlier Ventures, and Streamr, with 60 investors from 25 countries in total, showing keen enthusiasm and belief in the Swash mission.
Swash’s public sale will open this opportunity to a new audience. If you’re reading this, you’re still early for what will be one of the biggest projects to hit the world of Web 3.
The Swash team is gearing up for the $SWASH public sale (IDO) through Gnosis Auction on October 29 2021. The SWASH token will fuel the new Swash ecosystem, enabling a range of solutions to bring the mission of a fairer, more equitable internet closer to reality.
The process begins with opening access for whitelisting, starting from October 11 2021. Keep reading to find out what you need to do to get involved.
You can find the official whitelisting link here:
https://swashapp.io/ido-whitelist
This blog tells you about:
- Whitelisting instructions
- Personal information requirements
- Important dates
- The Swash token
- $SWASH token metrics
- Next steps
- Whitelisting FAQ
TL:DR
- The public sale will take place on October 29 2021
- The platform for the public sale is going to be Gnosis Auction
- 50 million $SWASH tokens will be sold
- The auction starting price will be $0.09
- All participants must perform whitelisting and successfully pass KYC
- Whitelisting also requires the confirmation of a non-exchange ERC20 wallet that you will use to interact with the token sale (not Swash wallets)
- Whitelisting is limited to 20,000 places
- Whitelisting will be open from October 11 to October 25 or whenever the capacity is full
And finally:
- Do not panic! Do not rush into the whitelisting process — there may be no second chances to get your information updated in time, so take a deep breath, organise the information and documents you need to submit and go through the whitelisting process mindfully, so you submit everything correctly the first time. That being said, if interested, plan ahead to whitelist sooner rather than later.
Instructions: Summary of the whitelisting process
It is necessary that everyone who wishes to participate in the $SWASH token sale successfully completes KYC.
KYC Partner: Swash has partnered with Fractal as a KYC provider. They have proven success and maintain high standards around security and data protection. The Fractal team will be available 24/7 for support on the live chat, Telegram, and email. Be sure to stay calm and read all instructions thoroughly.
Whitelisting period: Whitelisting will be open from October 11th to October 25th and may be left open for a longer period at the sole discretion of the token issuer. Only 20,000 places are available and it is necessary that you conduct KYC and whitelist in order to participate in the public sale.
Personal information requirements:
For each step of the KYC, you will need to provide documents to prove your identity and address. You will be shown a list of accepted documents as you proceed through the application. If more documents are required, you will be notified by Fractal via email.
To pass the KYC process, you will need to provide:
- Proof of identity
A live photograph of one of the following:
- Passport
- National ID — EU only
- Driving License
2. Proof of address
All documents must be clear.
- Be careful to not submit blurry images
- Pay attention to the lighting
- Make sure your submitted name matches the name on the document
3. Non-exchange ERC20 wallet address
You must also provide one ERC20 wallet address that will be whitelisted to participate in the public sale.
NOTE: DO NOT USE YOUR SWASH WALLET FOR KYC. You should provide your ERC20 wallet address and it should be a non-exchange wallet, like Metamask or Trust Wallet. You should participate in the IDO and purchase/receive Swash token with the same wallet. If you have already completed KYC through a verified Fractal account, you can use that to apply but need to ensure the ERC20 address participating in the IDO is the same as the one previously added in the verified Fractal account.
It is very important that you provide us with quality submissions and the correct information the first time — we will not be able to correct errors at a later stage.
You must be at least 18 years of age to participate.
Excluded jurisdictions:
You must not reside in: USA, Afghanistan, Bosnia & Herzegovina, Central African Republic, Cuba, Democratic Republic of Congo, DPRK, Eritrea, Ethiopia, Guinea-Bissau, Iran, Iraq, Libya, Lebanon, Somalia, South Sudan, Syria, Uganda, Vanuatu, Yemen
We are not able to receive investment from within UN-sanctioned countries, the United States, or from individuals, entities of any jurisdiction or geographical area which prohibits token sales or participation therein and/or use of and/or access to the Tokens.
After completing the KYC verification on Fractal, please allow time for processing. You will receive updates on the status of your application and any requests for further documentation through email. The public sale will take place on Gnosis Auction on October 29th. Stay tuned for more information and guides relating to the public sale (IDO).
Important dates
Here are some of the most important dates leading up to the public sale:
- Apply to whitelist here
- Whitelist applications close on October 25th or whenever full capacity is met (20,000 places)
- Those who are successfully whitelisted and eligible to participate in the public sale will be notified by email
- The public sale starts on October 29th through Gnosis Auction
- The public sale closes on October 30th
Keep following Swash’s blog and social media channels for more information relating to the IDO. You can also subscribe to the mailing list to make sure you don’t miss an update.
Now that you know what to do and are ready to get whitelisted, you can begin the process here:
https://swashapp.io/ido-whitelist
Click the ‘Get Started’ button to be taken to Fractal.
The $SWASH token
The Swash value chain will be powered by its native token ($SWASH). SWASH will have a variety of use cases within the ecosystem and will be used as a cross-chain utility and governance token integrating Ethereum, xDai, and Binance Smart Chain. It will also be fused with our constellation of partners and their native currencies, allowing for cross-fertilisation of value, increased adoption, and a seamless user experience.
Once the Swash expansion is live, use cases for the Swash token will include:
- Incentivise: As an incentive system, ecosystem actors will be rewarded with Swash tokens in return for their participation.
- Transact: All data transactions across all marketplaces, platforms, and applications will be distributed in SWASH. This includes value generated within the business intelligence and analytics platform (sIntelligence), the data computation environment (sCompute), and solutions developed utilising Swash technology (sApps).
- Govern: Swash token holders can vote for projects they wish to see receive funding from the Swash DAO fund, decide on new roadmap developments or modifications, and to take part in token-related decisions.
- Multiply: People can individually and collectively contribute the value of their data to social development causes and use it for value exchange both within and outside the Swash universe, such as redeeming earnings for products or staking liquidity.
The $SWASH token metrics
Swash’s public sale will make 5% of $SWASH’s total circulation available for the public. In the public sale (October 29th), 50M tokens will be available with no vesting period in place, giving participants total flexibility from launch.
Building longevity into the token, Swash’s founders, team, advisors, and private sale investors have a vesting period of up to 36 months, ensuring a long-term perspective of the project.
You can read more about $SWASH token here.
Token Allocation
Swash is thrilled to be launching an upcoming public sale for its native token — $SWASH — while creating incentives for the long-term participation of all parties involved.
Swash’s token allocation reflects the commitment of the team members, founders, and early backers to work together to bring to life Swash as a mainstream solution in the data space.
The public sale will make available 5% of the total supply (50M Swash tokens) at $0.09/token. Early investors account for 22% of the token supply, while founders, team members, and advisors hold 25% of the total issuance. The Swash foundation will hold 15% of the total supply, while Swash will allocate 5% to liquidity provisions to ensure a sustainable approach to the runaway needs.
Swash is committed to the growth and broad participation of every token holder, allocating 14% of the supply to the DAO and 14% to community and platform rewards.
Token release schedule
The token release schedule and long-term oriented token allocations reflect the right incentives put in place by Swash, giving freedom to the community joining the public sale.
The $SWASH tokens available in the public sale will have no vesting period, allowing any holder to engage with the token right away. However, the vesting period for team members, advisors, and early investors is up to 36 months to guarantee long-term commitment to the project.
Next steps:
Now that you are well informed, you can proceed to the whitelisting phase of the Swash public sale. If you have any questions relating to the KYC process, you can communicate with Fractal directly or connect with the Swash team through Telegram.
The amount of interest and positive interest Swash has attracted is incredible and the team are thrilled to have such an engaged and supportive community of Swashbucklers!
You can start the whitelisting process here:
https://swashapp.io/ido-whitelist
Whitelisting FAQ
If you have any questions relating to whitelisting, check out the section below. If you still don’t have an answer, write to the Fractal support team in the live chat, through Telegram, or via email at support@fractal.id.
- How to get whitelisted?
Fractal does the KYC. If your KYC is approved, you will be whitelisted for participating in the IDO. It usually takes 1 day until you see your KYC result. The results are either ‘approved’ or ‘needs additional/clear/correct documents’.
‼ NOTE: If you have technical questions on the KYC process please reach out to the Fractal support team in the live chat, through Telegram, or via email at support@fractal.id
2. Why should I get whitelisted and participate the IDO?
We need to KYC blah blah. The IDO is the next best chance to buy some $SWASH before it hits the mainstream secondary market on DEXes and CEXes.
3. Do I need to KYC to receive my giveaway rewards?
KYC has nothing to do with the giveaway/airdrop! KYC is only for participating in the public sale (IDO) and purchasing $SWASH. You will still receive your airdrop in your Swash wallet without KYC.
4. How much allocation will be offered in the public sale?
Check out this blog for more details on the Swash token and stay tuned for more details about the public sale over the next week.
5. How many people can participate in the whitelisting?
20,000 will be permitted to join the public sale and purchase Swash token.
6. What if you signed up but didn’t receive an email?
Whitelisting opens to the public from Monday October 11 2021. Go here.
7. Which address do I use?
DO NOT USE YOUR SWASH WALLET FOR KYC. You should give your non-exchange ERC20 wallet address, like Metamask or Trust Wallet. You should only participate the public sale and purchase/receive Swash token with the same wallet.
8. Do I need to submit my documents again to participate with the whitelisting?
People who have already verified their KYC through Fractal won’t have to submit the documentation again but you do need to make sure the wallet address provided is the same as in Fractal.
9. My KYC is approved, what now?
When your KYC is approved, you will be notified by Fractal via email. That means you are whitelisted and can participate in the public sale on October 29 2021.
10. Is IDO going to be FCFS (first come, first serve)?
No, the IDO is not FCFS so don’t worry about front running, gas wars, rug pulls, etc.
11. Whats the minimum for entry to ICO?
100 USDT.
12. Which countries are restricted?
You must not reside in: USA, Afghanistan, Bosnia & Herzegovina, Central African Republic, Cuba, Democratic Republic of Congo, DPRK, Eritrea, Ethiopia, Guinea-Bissau, Iran, Iraq, Libya, Lebanon, Somalia, South Sudan, Syria, Uganda, Vanuatu, Yemen
We are not able to receive investment from within UN-sanctioned countries, the United States, or from individuals, entities of any jurisdiction or geographical area which prohibits token sales or participation therein and/or use of and/or access to the Tokens.
13. Is there vesting for tokens purchased during the public sale (IDO)?
No, tokens will be distributed within 2 hours after the end of the auction.
14. Is this email legit?
The following email addresses are official:
Contact@swashapp.io
Newsletter@swashapp.io
Investors@swashapp.io
15. Do I need to stake any other token in order to be able to participate in the IDO and place bids?
No.
About Swash
Swash is an ecosystem of tools and services that enable people, businesses, and developers to unlock the latent value of data by pooling, securely sharing, and monetising its value.
People share their data to earn while retaining their privacy. Businesses access high-quality, zero-party data in a sustainable and compliant way. Developers set up and build systems within a collaborative development framework with ease.
Swash is reimagining data ownership by enabling all actors of the data economy to earn, access, build and collaborate in a liquid digital ecosystem for data. The Swash public will take place on October 29 2021. Read more here.
Get whitelisted: https://swashapp.io/ido-whitelist
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Originally published at https://swashapp.io on October 11, 2021.
