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What is SWFT Blockchain (SWFTC) Token, SwftCoin and Cross-Chain Platform?

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Did you know that daily crypto trading around the world accounts for over $40 billion? No doubt, this is one of the most significant aspects of the crypto market. Now, what if I told you that despite this huge trading volume, there are still many problems faced by the crypto trading industry? Now just imagine if those problems were to be solved. Imagine how much would be traded in cryptocurrency every day

SWFT blockchain is the one-stop solution to the common problems faced by crypto traders. Crypto assets usually have different price listings on exchanges. The prices are affected by many factors including network fees of the blockchain in the case of decentralized networks. More importantly, the prices are affected by how much a particular asset is traded actively.

Cryptocurrencies with high trade volumes have more stable prices since the demand for them is more stable. Traders, knowing the following factors have a hard time finding the best prices to execute trades.

Often, they spend time combing through different networks and exchanges looking for the best prices to buy cryptocurrencies. The time spent as well as the network fees for using decentralized networks is not always a good thing.

SWFT blockchain is an infrastructure provider that fast tracks crypto trading as well as buying and selling of several assets including gamefi and metaverse assets.

Swftcoin(SWFTC) is the native token of the SWFT blockchain. It gives holders benefits like discounts on swap transactions on the SWFT blockchain, as well as discounts on other services offered by the network.

What is SWFT Blockchain?

The SWFT blockchain is an all-in-one network that features a cross-chain wallet, a centralized exchange, and a payments platform. The SWFT blockchain makes currency trading, payments and sharing of cryptocurrencies quick and simple. SWFT blockchain was one of the first networks to achieve cross-chain transactions.

As many of you know, cryptocurrency trading is one of the most important parts of the currency market. One of the bottlenecks faced by traders is having to buy and sell several different cryptocurrencies. Leaving one network to another is not only time-consuming but also expensive as the gas fees tend to increase.

This was the problem that the SWFT blockchain was created to solve. SWFT was to make currency swapping easy and boost the integration of other blockchain assets. SWFT blockchain was built to facilitate the transfer of defi, gamefi, and other metaverse assets.

SWFT has a variety of services that make currency swapping smooth and cheap. The first is the SWFT AllChain Bridge. The AllChain bridge is a one-stop cross-chain swap that can be connected directly to a user’s crypto wallet. Users can also swap currencies via the click of a button. The SWFT AllChain bridge also has an NFT section where users can access NFT marketplaces like LooksRare, Rarible, Bakeryswap, and Treasureland.

They can also access popular NFTs like CryptoPunks. Blockchains that are supported by SWFT allow users to swap NFTs with one click using any token. This smoothens transactions of several blockchain assets for both defi and NFTs.

Next up is the SWFT NFT Aggregator. An NFT aggregator gathers price listings for several popular NFTs from different marketplaces and displays them in one platform. This makes it easy for buyers to compare the prices of different NFTs. NFT aggregators also come with a simple interface that also makes buying NFTs from different marketplaces easy. This also reduces the cost of buying NFTs as the user has access to several marketplaces from one platform.

SWFT also has a decentralized trading platform called SWFT bridgers. This platform has been launched on multiple public blockchains including Binance Smart Chain, Heco, Polygon, and ETH five EVM chains.

SWFT bridgers solve the problems of exchanging assets between single-chain and dual-chain public networks. Some of those solutions include security, cheap network fees, and speed.

The SWFT Cross-Chain Swap API allows users to integrate their wallets with third-party platforms. It also allows people to share transaction fees.

The token is also expected to function as the governance token for the SWFT blockchain decentralized exchange aggregator expected to be released in the future.

Who created SWFT and when?

SWFTcoin was created in Silicon Valley in 2017 by Ramble Lan who then partnered with GooCoin in China to launch SWFT.

Ramble Lan and the rest of the team had been using arbitrage to profit from differing prices of the crypto assets on different exchanges. All though they enjoyed profiting from arbitrage, Ramble Lan saw that kind of arbitrage as a barrier to mainstream adoption of cryptocurrency and that would stop the progress of blockchain technology. Ramble Lan set then out to remove that barrier through SWFT. He wanted to get rid of the illiquidity that results in arbitrage. Luckily, he also created a cross-chain exchange that would make currency swapping easy and quick.

What role does the native SWFT token play in the SWFT ecosystem?

The SWFT token(SWFTC) is the native token of the SWFT blockchain. It was first launched as an ERC-20 token making it Ethereum based. The token has been upgraded to work on BSC and HECO.

The SWFT token serves as the sole payment currency for transactions on the SWFT network. It gives holders a 50% discount on transaction fees charged by the SWFT blockchain. It allows SWFTC holders to trade currencies across several chains for a transaction fee of 0.1%.

SWFTC also acts as a trading pair on several currency exchanges. This gives extra liquidity to the SWFT blockchain. This liquidity is partly responsible for the SWFT blockchain’s ability to offer speedy cross-chain swaps at excellent rates.

SWFTC has a maximum supply of 10 billion tokens. When the token was launched, a private token sale was held from August 2017 to January 2018, and almost 17 million dollars was raised. 30% of the token’s total supply was sold off in the private sale. 19.9% was set aside for executing community initiatives. Another 20% was given to the team while 25% was allocated for business development. Finally, 5% was set aside for research and education.

SWFTCoin (SWFTC) has been listed on more than 20 popular cryptocurrency exchanges. Some of them include HitBTC, CoinBene, OKEk, and Coinbase. It has also been listed on decentralized cryptocurrency exchanges.

What are the benefits of using SWFT?

Now, we’ve talked about low fees and speedy transactions as some of the benefits of using the SWFT network. But let’s briefly look at some other benefits;

1) The biggest benefit of using SWFT is convenience. SWFT doesn’t rely on fiat currencies. This makes it easier to make and receive payments as they are no delays caused by banking processes associated with Fiat currencies. The process of buying and selling cryptocurrencies is made easier thanks to the host of products offered by the SWFT network.

SWFT allows users to connect their wallets to a comprehensive cryptocurrency exchange. This allows users to buy cryptos straight into their wallets, reducing time spent on switching between platforms. SWFT also offers a similar service for NFTs. Not only will users be able to buy popular NFTs, from renowned market places like OpenSea and Rarible straight into their wallets, but they would also be able to compare price listings from different sellers and market places.

Even better is the fact that SWFT has a comprehensive app that makes all buying and selling easy. The app makes buying and selling cryptos and NFTs so easy, they are often completed between 1 – 2 clicks.

Wide access to different markets and products

SWFT is a cross-chain solution that brings together several networks and tokens. It supports more than 350 cryptocurrencies. It also connects more than 10 blockchains and 2 networks. This makes it the perfect platform to explore the world of cryptocurrencies. It connects several marketplaces for gamefi, defi, and metaverse assets.

This includes centralized and decentralized marketplaces. So for instance, a person can go to the metaverse and buy an avatar which the person then uses as a profile avatar in a play-to-earn game. The person might win some bitcoins from the game and decide to invest it in a defi-saving protocol with a yield of 30% per year. To do that, the person would simply need to look for a suitable defi protocol from a SWFT-supported network. The best part is that all the buying and selling can be done from the SWFT blockchain via the app.

SWFT is also protected from regulatory issues as no fiat currencies are involved. Remember that SWFT only accommodates the swapping of cryptocurrencies which are mostly unregulated in many countries.

How is SWFT evolving?

SWFT is one of the exciting blockchain projects out there because it caters to one of the most significant activities in the crypto market which is trading. More than $40 billion is traded around the world every day.

A significant part of that amount goes to fees spent on different trading platforms as well as the network fees of the various blockchains. These fees increase significantly when a user needs to visit multiple networks and trading platforms at the same time. This is the problem SWFT solves for the crypto marketplace.

SWFT is set to increase in utility as the trading of crypto assets increases. Gamefi and defi are also critical aspects of the crypto market. SWFT makes sure to cater to these two aspects as well by building a platform that compiles price listings from multiple sources into one convenient place.

SWFT has partnered with several companies and big brands since its launch in 2017. Some of these partnerships include wallet providers, centralized exchanges like Coinbase, and other businesses and payment platforms.

SWFT is in developing a decentralized exchange aggregator that would show users a range of trading pools from different marketplaces in a single dashboard. This DEX aggregator would combine all the market experience gained from other SWFT applications to provide a comprehensive trading experience.

SWFT is quickly becoming the go-to platform for professional traders. Professional traders need high-quality market information from different sources delivered to them in real-time. Most trading platforms cater to beginners and regular traders alike.

For professional traders, however, few platforms offer the range of products and services that will best cater to their trading needs like SWFT.

Not only does SWFT have a comprehensive range of trading tools, but it also makes those products and services easy to access and navigate.

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