The whitelisting period for Swash’s Initial DEX Offering (IDO) recently closed after two weeks, a window that saw the data ownership platform attract over 45,000 participants.
The Swash team was overwhelmed by the level of interest shown during the whitelisting period, as it gears up to spark a revolution in data value creation and management.
“We’re humbled by the community response to the upcoming IDO,” said CEO Reza Naeeni. “The overwhelming interest shown during the whitelisting bodes well for the token sale and the future prospects of the project.”
Swash’s IDO was just launched and will remain open through the end of the day on October 30. The company’s native token, SWASH, is being sold at an initial price of 0.09 USDT. Just 5% of the total 50 million SWASH tokens are available for public sale on this date, with the asset starting off with a market cap of 4.5 million.
How Swash Makes Data Rewarding for All
Swash focuses on harnessing the biggest natural resource of the online space – personal data. Attempting to reclaim the power of personal data from a small cabal of large tech companies, Swash aims to give the average internet user control over their own data, allowing them to reap the profits from the record of their own online activities.
Forming a first-of-its-kind data union, Swash makes the sale and analysis of data both consensual and profitable for all involved. Businesses and data analysts pay for access to the large swathe of personal data on Swash, with users receiving compensation in the turn for the use of that data. The same data can be sold over and over again to new data scientists and analysts, giving users potentially endless returns on their personal information.
The project looks to benefit application developers as well as end users, by providing data that is whole and untarnished. With more precise user data at their disposal, app developers can better strategize technological approaches to existing problems based on the transparent data found in the Swash ecosystem.
Potential outcomes from the success of Swash’s plans could see the end of third-party tracking cookies altogether, as the collection of personal data is pushed out into the open, and not carried out surreptitiously behind click-through small print.
Swash has received the backing of some of the biggest and most well-known venture capital firms in the cryptocurrency space, and has formed strong legal, technical and marketing partnerships throughout the industry. In its most recent funding round, the project raised $7 million after welcoming investment from 60 investors in 25 countries.
The data economy is valued at an estimated $3 trillion according to the World Economic Forum (WEF), and many analysts consider personal data to be the most important resource of the digital age. The next internet-based juggernaut to rival the likes of Google and Facebook is expected to be the project that successfully harnesses personal data for the benefit of all stakeholders.
The SWASH token will be cross-chain compatible, being able to run on popular blockchains such as Ethereum, Binance Smart Chain (BSC), as well as xDai. Early investment will be incentivized with a series of buy-backs and token burns to inflate the value of the token.