2.3.0 - Circulation Epoch

When the final auction phase Epoch day ends, the Circulation Epoch begins. At this point, no further token reservations can be made.

Reserved SWAPP and referrer bonus SWAPP may now be minted by users, as they choose to claim. Users may begin staking SWAPP. 95% or more of all ETH sent into the auction phase smart contract and a matching batch of SWAPP is automatically sent to Uniswap, so users may begin trading SWAPP and ETH there. All standard ERC-20 functions involving minted tokens are also now available. At the start of the fifteenth day of the Circulation Epoch, there will be a one-time automatic INTR$T price increase of 10%.

Once the auction phase Epoch has ended, there is a public function in the contract that may be called by anyone to trigger the following one-time sequence of actions to start the Circulation Epoch:

  1. Calculate the total ETH sent into the auction phase smart contract. Set aside 5% or 500 ETH, whichever is less, for the Swapp Foundation reimbursement performed in Step 4 below. The remaining 95% (or more) of this ETH is the “Uniswap Provision Ether”.

  2. Calculate the total SWAPP that is available to be minted due to token reservations and referrer bonuses. Calculate the same fraction of this SWAPP (95% or more) that was used to determine the Uniswap Provision Ether in Step 1 above. Immediately mint this amount of new SWAPP. This is the “Uniswap Provision SWAPP”.

  3. Transfer the “Uniswap Provision Ether” and “Uniswap Provision SWAPP” to the SWAPP/ETH Uniswap exchange pair contract, forming its initial liquidity pool. As part of this transfer, the SWAPP contract receives back from the Uniswap contract an amount of UNI-V2 liquidity tokens and immediately burns these by transferring them to a known burn address.

  4. Transfer the 5% (or less) of LT ETH set aside in Step 1 to The Swapp Foundation’s ethereum address.