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SWPR Tokenomics

Table of contents

  1. SWPR — The Swapr Governance Token
  2. Distribution
    1. DXdao Treasury: 50%
    2. Swapr Treasury: 18%
    3. Liquidity Incentives: 14%
    4. DXD Holders: 8%
    5. Swapr Builders 6%
    6. Community Airdrops 4%
  3. The SWPR Airdrop
  4. How To Claim SWPR on Arbitrum One
  5. Liquidity Mining Campaign

SWPR — The Swapr Governance Token

The Swapr protocol will be governed by SWPR token holders through the ERC20 Guild Structure, where tokens are locked for voting. Voting weight is directly proportional to the number of tokens locked in the governance contract. SWPR token holders can use their voting power to:

  • Adjust and govern the protocol fee
  • Manage the Swapr Guild Treasury
  • Allocate liquidity mining rewards to targeted pools
  • Deploy the Swapr Guild and the Swapr protocol to additional networks
  • Adjust the base pairs that trades are routed through
  • Improve the Swapr protocol and Swapr dApp

Swapr was developed and is currently governed by DXdao. The SWPR token is the first step toward fractionalization in governance and establishing sovereignty for Swapr. The bootstrapping and liquidity mining phases will create a wider distribution of SWPR to community stakeholders and further its decentralization.

Swapr’s fee structure will direct protocol fees to those who stake SWPR in the governance contract. Funds are automatically split and can be allocated to either the Swapr Treasury or the SWPR fee share, managed by Swapr Governance. In the initial proposed model, all protocol fees will be sent to a smart contract where it will be divided:

  • 70% to the Swapr Treasury;
  • 30% to the SWPR Fee Share.

Distribution

SWPR token is a mainnet ERC20 token with a max supply of 100,000,000. The token was minted by an anonymous deployer and distributed to both the SWPR airdrop contract and DXdao Treasury. You can view the signal proposal submitted by the deployer here.

The initial distribution was meant to distribute governance rights over the Swapr protocol, attract more stakeholders into the Swapr ecosystem, bootstrap liquidity on Swapr and further engage those that have contributed to Swapr development.

DXdao Treasury: 50%

The DXdao Treasury allocation is a large portion of tokens that distribute Swapr fees to DXD holders. Swapr is a product of DXdao. If both the Swapr Guild and DXdao identify a mutual benefit, these funds will be used for new farming campaigns, partnership opportunities, Fast-exit liquidity and more.

Swapr Treasury: 18%

The treasury allocation is designed to provide initial funds to the Swapr Guild to utilize as necessary operating costs. This includes any allocation of liquidity mining rewards, deployment to additional networks, and improvements to Swapr through bounties and contribution rewards.

Liquidity Incentives: 14%

Liquidity is the absolute most important facet to Swapr’s success. The liquidity incentives allocation will focus on distributing SWPR token fairly between several chains, prioritizing relevant pairs. You can read more on the initial liquidity mining campaign below.

DXD Holders: 8%

The DXD allocation will integrate an initial group of community members that already care for the success of Swapr through their commitment to DXdao. The snapshot date for the DXD holders allocation was August 19, 2021 at midnight UTC. Locked tokens will be vested for two years with a one-year cliff. Additional information can be found in the below Airdrops section.

  • Locked (4% vested over 2 years with a one year cliff).
  • Unlocked (4% unvested).

Note: In the initial deployment, a small number of DXD holders received less SWPR than anticipated. Smart contract wallets and some DXD Swapr LPs are affected and will have their SWPR airdrop sent manually. If you have a question about your DXD airdrop, please go to the #SWPR-airdrop Discord channel.

Swapr Builders 6%

The Swapr Builders allocation distributes SWPR token to those who were instrumental in Swapr’s initial development and future growth. This is accomplished through vesting that unlocks as milestones are achieved rather than a static timeframe.

  • Swapr Builders (4% vested and unlocked at milestones).
  • DXdao Contributors (1% vested over 1 year).
  • Active REP Holders (1% vested over 1 year).

Community Airdrops 4%

This allocation aimed to attract users from relevant projects to integrate them in Swapr’s growing community. More information on these allocations can be found below.

The SWPR Airdrop

The initial “Community Airdrop” allocation targeted users from relevant projects and spaces, integrating them in Swapr’s growing community. These communities share similar sentiments with DXdao on governance and decentralization. Included in this allocation is an Airdrop Reserve; an undetermined allotment up for further discussion within the Swapr community.

The snapshot for the following Airdrops was taken on July 1, 2021. All of the above allocations could be claimed until the end of 2021, on December 31, 2021.

How To Claim SWPR on Arbitrum One

The SWPR airdrop was claimable on Arbitrum One. Users would have to switch networks in their wallet. For more information, a step-by-step guide is avaliable on How to Claim SWPR airdrop on Arbitrum One.

Liquidity Mining Campaign

Within the SWPR token launch year, 14% of the issuance is delegated to a liquidity mining campaign. In this initial configuration, each campaign will run on two-week Epoch’s with a base issuance of 140,000 SWPR. These values are boosted up to 8x for the first 13 Epoch’s in order to kickstart liquidity and secure an initial distribution to individuals with an early commitment to Swapr.

SWPR token will have a multi-chain distribution starting on September 16th, 2021 which targets the launch of the Arbitrum network. More specifically, the initial configuration points 80% of the issuance to Arbitrum, 10% to Mainnet Ethereum, and 10% to Gnosis Chain. Swapr Guild Governance will ultimately be able to vote on these allocations.

The SWPR liquidity mining campaign targets distinct pairs with varying weights on each chain. This decision was made in an effort to distribute additional rewards to DXdao ecosystem pairs and incentivize a wide variety of chain-relevant pools:

These allocations have since gone through various changes throughout the farming lifespan. Up to date farming information can be found within the Swapr Medium publication.