The purpose of the SWAPP token is two-sided (yes, like a coin!)
The DeFi Launch - The initial purpose of SWAPP is to create a thriving DeFi ecosystem consisting of token holders who can participate in various forms of yield farming and who will ultimately become founding users of the forthcoming SWAPP mobile app.
The SWAPP Mobile App - Upon launch of the subsequent SWAPP mobile app, users will then enjoy powerful, new features including turn-key data monetization and privacy-enhancing capabilities.
Core DeFi Capabilities - Yield Farming and Staking
Staking on the SWAPP platform — is similar to both bonds and CDs (certificates of deposit): rewarding the holder with earned interest in exchange for locking up their funds for a period of time. SWAPP incorporates some of the features from both of these traditional instruments but improves greatly upon them.
CDs tend to be lower risk, lower return, and only pay out interest on their maturity date.
Bonds tend to be somewhat higher risk, higher return, and pay out interest regularly on a set schedule (typically every six months).
SWAPP is most similar to a bond, in that it earns relatively high interest, but allows users to withdraw it whenever they want.
SWAPP VS bonds and CDs:
SWAPP gives the staker complete flexibility in choosing exactly when to withdraw their interest during the life of the stake. You can withdraw interest daily, irregularly, wait until maturity, or whatever you like!
SWAPP stakes have higher return, much lower risk (due to being decentralized and trustless), and far higher flexibility than both bonds and CDs. No more trusting banks and governments to stay solvent and not change their rules. No more worrying that a bond issuer may default on you.
The SWAPP Mobile App - What will it do for me?
By simply installing the forthcoming mobile app and "authorizing" it to sync with your social media accounts, users enjoy powerful data monetization in the form of earning SWAPP tokens.
For much too long, the tech giants have been earning billions of dollars off of your online behavioral data. Now its your turn. Simply install, authorize, and earn.
Enhance your privacy, with just one tap - If monetizing your personal data isn't for you, you can instead elect to tap the "forget me" button in the app. This sends a signal to all major global-opt-out databases blocking your data from advertisers. Mobile app coming in Phase 2 - during Q4 2021.