SWYFT is pleased to announce that we have launched the SWYFTT Dividend contract on the Ethereum Mainnet. We are currently testing functionality via Metamask and the Android Mobile Wallet created.
We are actively establishing the Swap tool while continuing to contact exchanges to communicate when and how the new SWYFTT token will replace STQ.
The Token Contract Address Is: 0xA1248c718d52752b2cC257eeb0eBa900408dAeB8
There are a few things to cover in this document for review. We have had some long conversations about the topics covered below and hope you will join us in understanding our thought process.
1-Timeline on Swap Process and Exchange Transition
We will be asking all exchanges to block STQ deposits and withdrawals on the Friday the 13th of December for a swap commencement date of the Monday the 16th of December. Any exchanges that have yet to respond to us with will be notified of a due date of communication back to us.
In the absence of any response, we will be asking community members to withdraw their tokens from these exchanges to use the automatic swap tool.
This will require to send your STQ to a smart contract that will handle the whole process automatically and return you SWYFTT dividend Tokens.
2- SWYFTT Circulating Supply
As we have now launched, we currently have only 1000 tokens minted for testing purposes. Please find details below of where we will pitch the current circulating supply for the STQ to SWYFTT Dividend ERC20 Token which will be minted upon commencement / approval of the swap.
The new token contract allows us to Burn and Mint tokens accordingly to keep us flexible against the value and demand. Our aim is to make sure both current assets (SWYFTT Dividend Token and SWYFT Coin) stay relatively on parity with each other minus any Dev Team holding that we class as non-circulating.
Current Circulating Supply of STQ at 25/12/2019 was 11,287,544,272 at $0.000018 USD
We believe that this supply is beyond extreme for a payment method for any merchant operation: