Particularly in emerging economies today, according to the Global Findex report, two billion people around the world lack access to financial services, especially access to credit. The high cost of banking services has created a divide among individuals as banking conglomerates typically make their services beyond the reach of the poorest populations or those living in remote areas. The lack of access to financial services can be attributed to the high cost of capital, information asymmetry, and the high cost of banking infrastructure.
With these issues in mind, to achieve the dream of universal access to credit, the Swapy Network, a decentralized protocol that is focused on connecting the various participants within the financial industry (borrowers, creditors, insurers, data producers, data consumers, etc.) has been set up to enable individuals and/or companies to offer or consume services and work together within the ecosystem to reduce the prices of financial services. Fees for operating in the Swapy Network will be charged in Swapy cryptographic tokens (SWAPY), which will enable token holders the access rights to use the Swapy Network, benefiting from and contributing to it, and receiving tokens in exchange. The Swapy Network aims to resolve problems of access to credit by facilitating credit offers in order to lower the costs of capital, the Swapy network eliminates information asymmetry between participants via a data network that is updated and commonly shared. Also, Swapy network encourages lower cost capital and better information that can reduce entrance barriers for new companies. Swapy Network provides better data so that credit companies can make better lending decisions and offer lower rates to good clients.
SWAPPY NETWORK ESTIMATED SOFTWARE DEVELOPMENT PLAN
The Swapy’s software development started on July 1st, 2017. Our release milestones are divided into:
• Private alpha
• Public alpha
• Private beta
• Public beta
• Stable version
On July 31st, we released our private alpha as a preview containing the fund-raising contracts. By October 10th, the Swapy team open-sourced its protocol and released the public alpha of our first decentralized application on Ropsten test net, the Swapy Exchange. By mid-December, the Swapy team released an updated version of the Swapy Exchange D’App and also provided a prototype of a decentralized identity using the uPort. By January, the Swapy team provided in test net the ability to exchange fundraising assets through a marketplace and added the possibility to include Swapy Tokens as collateral when lenders create fundraising offers. Since then we are working towards Swapy Network’s own self-sovereign identity smart contracts, code libraries, and the Swapy Financial ID decentralized application. From then until the end of our TGE, we will also be reviewing requirements for the Swapy Exchange, the Swapy Financial ID and the Swapy Data Market, as well as prototyping the Swapy Financial ID and the Swapy Data Market. After the TGE, our schedule is as follows:
• 1st quarter after TGE - Swapy Financial ID public alpha on test net providing identification and attestation to Swapy Exchange tokenized assets. Swapy Data Market private alpha on test net operating 1 to 1 data sales.
• 2nd quarter after TGE - Swapy Exchange and Swapy Financial ID private beta on main net transacting real tokens. Each lender or lending company willing to join the Swapy Network will have their own timeline to start using the Swapy Exchange depending on the compliance process.
• 3rd quarter after TGE - Swapy Exchange and Swapy Financial ID public beta on main net. Public ”Connect with Swapy ID” API available. Anyone can use it for any purpose and transact real tokens. Swapy Data Market on private beta transacting real tokens and real data from Swapy Financial ID.
• 4th quarter after TGE - Swapy Data Market public beta on main net. Swapy Exchange and Swapy Financial ID improvements. Planning the following year considering the community surveys. For a more detailed list of milestones, please check our wiki at: www.github.com/SwapyNetwork/wiki/wiki/Estimated-Milestones
THE SWAPPY TOKEN (SWAPY)
SWAPY is an ERC20 token and also represents the basic unit of value in the Swapy Network. SWAPY is a utility token which can be used for the following when they become available:
• Paying for services in Swapy Network
• As collateral when requesting loans
• Pay for the individual’s information
Also, the Swapy team is building three decentralized open-source applications in which the Swapy Tokens can be used in:
• Swapy Exchange
• Swapy Financial ID
• Swapy Data Market
A single unit of the SWAPY has eighteen decimal points.
TOKEN OFFER
A total of one hundred million tokens will be minted at the launch of the Swapy Network ICO, and thereafter, there will be no new Swapy Tokens minted. The hardcap is $30 million USD. As an open-source project that is managed by the Swapy Company, owned by Credit Dream, Inc., we are seeking the collective contribution of the crypto community. In return, we pledge that the focus of our team will always be centered on developing and promoting our technology which potentially makes credit cheaper and universally accessible world over. We also pledge that the proceeds of the token offer will be used to develop, maintain as well as promote the Swapy Network protocol(s), the needed infrastructure, and the decentralized applications, to establish valuable partnerships, to engage and to leverage the community, and to cover other related costs needed to build the Swapy Network. Proceeds will not be used for any other purposes other than the needs of the Swapy Network. Also, we pledge that the Swapy Network is open source under the Apache 2.0 license, and its team will be accessible online or offline, likewise. The team will be committed to provide the DApps proposed, and up to share knowledge and resources to those who would like to contribute to the development of the Swapy Network.
We pledge that the Swapy team is committed to the highest standards of accountability, transparency and compliance.
Very importantly, founders and employees should note that there will be a mandatory vesting period of 1 year with a 6 months cliff. Also, there will be a lock up period of 6 months before early investors, partners and advisors can sell any token. All contributions will be in Ether for security reasons. Token buyers with fiat money or other cryptocurrencies will have to exchange their currency to Ether in their favorite exchange.
TOKEN DISTRIBUTION
15% - Company’s Stockholders
15% - Company’s Endowment
10% - Partners & Advisors
10% - External Developers Fund
50% - Initial Coin Offering
FUND USE
21% - Office and Infrastructure
7% - HR and Legal
6% - Marketing
14% - Management
52% - Development & Operations
TIMELINE
• In December 2014 the startup received USD$60,000 in angel investment from Tim Draper (Draper Associates)
• During 2015, the company validated the idea of credit for education. The team decided to pivot to credit in general in early 2016
• In June 2016 the startup was one of 20 to participate at Menorca Millennials
• In July 2016 the startup received USD$80,000 in seed capital from Draper Associates and L´anzame Capital
• In March 2017 the startup received USD$200,000 in seed capital from Huiyin Blockchain Ventures and Draper Associates
• In May 2017 the startup was one of five selected to pitch at Consensus 2017
• In June 2017 an angel investor the founders met at Consensus 2017 invested USD$100,000 more in the company. The investor is a Japanese FX trader with excellent contacts among other Japanese investors
• In July 2017 the company was finalist of Singularity University’s Global Grand Challenges awards in the Prosperity track and is going to Pitch at the SU Global Summit
• In September 2017 Tim Draper officially became our advisor
• In September 2017 Don Tapscott also joined our board of advisors
• In Jan 2018 we raised USD$500,000 in an angel investment round
• In Feb 2018 we signed a partnership with Singularity University Ventures to impact billions.
TEAM
Edmilson Rodrigues - CEO & Co-Founder
T´ulio Braga - CTO & Co-Founder
Plinio Braga - Lead Designer & Co-Founder
Bruna Fiori – COO
Brunno Neves – CFO
Icaro Harry - D’App Developer
Luis Philipe - Solidity Developer
Adriel Santos - D’App Developer
PARTNERS
• Blockhaus (Zurich, Switzerland)
Main Contact: Elizabeth Intsiful (elizabeth.Intsiful@blockhaus.io)
Address: Zollstrasse 58, 8005 Zurich, Switzerland.
• A Star Labs (Sao Paulo, Brazil)
Main Contact: Guilherme Carvalho (guilherme@astarlabs.com.br)
Address: Rua Joaquim Floriano, no 820/834, Itaim Bibi – CEP 04534-002. Sao Paulo- SP, Brazil.
• IT2S Group (Santa Monica, CA, USA)
Main Contact: Leonardo Goldim (goldim@it2sgroup.com)
Address: Santa Monica, CA - USA.
ADVISORS
Tim Draper
Don Tapscott
David Orban
Ryan D. Baird
Jeroen van de Graaf
Ryan D. Williams
Ratan Singh
Jordi Safont
Jordi Altimira
Gustavo Penteado
With the Swapy Network, Universal Access to Credit will be a thing of the past, and for this reason, I urge everyone to take part in the Swapy Network ICO event and share in this unique project.
For more information regarding this project and to connect with other unique participants across the globe, please feel free to click on any of the following links:
Website: https://swapy.network/
ANN thread: https://bitcointalk.org/index.php?topic=2372636
Whitepaper: http://s3.us-east-2.amazonaws.com/swapynetwork/SwapyNetwork_TokenSale_Whitepaper-EN-US.pdf
Facebook: https://www.facebook.com/Swapynow/
Twitter: https://twitter.com/SwapyNetwork
Telegram: https://t.me/SwapyNetworkChat
Published by: charleyles
Bountyhive referral link: bountyhive.io/r/charleyles
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1344011
Bountyhive username: charleyles
Ethereum wallet address: 0x69C516900e939e97C7c60Ca59bdaF15295556838