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Swarm Token: Here’s everything you need to know

Swarm token has gotten many crypto investors pumped!

Swarm foundation proudly announced Bee Mainets soft launch on June 13, 2021. Soon after the soft launch, a public token sale will take place on CoinList on June 14, 2021. 

What is Swarm Token?

Swarm is a peer-to-peer (P2P) networked computing node that creates a “decentralized” storage and communication service. Because of a built-in incentive mechanism enforced by smart contracts on the Ethereum blockchain, the system is economically self-sufficient. Token distributed during the token launch is known as the Swarm Token or SWM. The SWM token is a standard ERC20 token (on the Ethereum platform) that allows one to use the Swarm software platform. 

Objective of Swarm

Swarm aims to empower anyone, anywhere in the world, to participate in value creation within the crypto-asset category and to capture opportunity in new types of asset-backed tokens, including in real estate, hedge funds, solar installations, and many more. Swarm transforms financial opportunities from exclusive to inclusive. They provide access and tradability so that anyone can take part and have their crypto funds work for them.

Token Offering

The Swarm organization created 100M tokens and budgeted 33M tokens to sell to purchasers. Of these, 8.2 M Swarm Tokens were sold in Q4 2017. The Swarm Foundation currently intends to sell 20 million tokens to raise USD 23.75 million in ETH.

Fundraising history of swarm

Token Sale Information

As noted by CoinList, the sale has two different options:

  • Option 1 will “run from June 14 2021, 17:00 UTC to June 15 2021, 04:59 UTC.”
  • Option 2 will “run from June 15 2021, 17:00 UTC to June 16 2021, 04:59 UTC.”
  • Option 2 will only occur when there are excess tokens from option 1.

Sale Details

Here are some of the reasons why CoinList expects more updates from Swarm:

  • Persistent Technology — Swarm data is “readily accessible due to cross-node replication and erasure coding.” Specifically, information is “divided into “chunks” and redundantly stored throughout the network.” This redundancy “provides continued data delivery when nodes go offline.”
  • Data Sovereignty — All node operators “participate in a fair data economy in which no central party controls or monetizes data.” Instead, users “own their data while node operators ensure the availability and integrity of this data.”
  • Aligned Economics — Users “pay for storage and communication on their own terms, rather than having their data sold to cover costs.” On the other hand, node operators are “motivated by BZZ tokens to run and maintain network nodes.”

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