After 3 years of fine-tuning Swarm 1.0, growing our team, connecting with experts from diverse fields, and working hard on creating something new in the crypto space, Swarm 2.0 is finally here. In this article we will talk about the new Swarm and introduce you to an app we’ve built to convert your old SWARM tokens into new ERC20 ones.
Swarm 2.0 fundamentally repurposes the initial concept of Swarm 1.0 to create new market infrastructure to act as a gateway for fiat money to invest in the growing field of crypto finance. The ideas and projects that the original Swarm started exploring have now been validated by experts in the fields of finance, cryptography, law, and others. We are convinced that our model for investing in real assets through cryptocurrencies will essentially reformulate the way people invest today.
With our new ERC20 tokens, members will receive access to opportunities to own cryptos backed by real-world assets. Our investment professionals have secured syndicate deals, so that within months, anyone, anywhere, can invest as little or as much as they want into opportunities such as distressed real-estate using digital currency. Participate now and we will democratize finance together.
How to convert Swarm 1.0 into the new ERC20 tokens?
To those that decide to convert their old SWARM tokens into new ERC20 ones before our contribution period, we will give you a rate of $0.50 per token, which represents an approximate 1,150% return off the original crowdsale. This means you will burn 2 old tokens and receive 1 new SWARM token in return. The process will open starting July 26 and run until August 23, 2017. Visit our token transfer page here and convert your tokens today!
Swarm 1.0 was instrumental to gain a great deal of insights of what works and what doesn’t. While the industry and blockchain tech has improved to make Swarm a reality now, the key new ingredients to new Swarm initiative are a new and highly experienced team, a new token model, and most importantly an impactful and tangible go-to-market that will show results within months.
Due to problems with locked Swarm coins on Poloniex we have decided to extend and modify the tokenswap process.
- We are adding an additional week for token redemptions. You may follow the official token swap process on https://tokenswap.swarm.fund/ ending on Sept 1st.
- Anyone with coins that are locked in Poloniex may send us a screenshot of their holdings to [email protected]. Please also add a valid ERC20 wallet address. This will allow us to reserve the corresponding amounts of Swarm 2.0 tokens for the 1.0 token holders at the current redemption rate.Subsequently, we will try to work with Poloniex to resolve the matter. Once we succeed with them, the token swap process for the tokens registered before Sep 1st will presumably be the same as currently exists, but depends on the technical response of Poloniex, which has currently stated they are having some problems with supporting the counterparty protocol.
We hope this accommodates for the difficulties our members have had in the past weeks in finding a resolution with Poloniex and are looking forward to try to contribute to the resolution. We are excited to have you along for this new journey. We value your early involvement and look forward to you joining the new Swarm 2.0. Get started with the token swap here.