SwapSteem is a peer-to-peer exchange built on the Steem blockchain.The main vision behind Swapsteem is to create a platform to enable Steem users to trade their STEEM/SBD for anyhthing with other users securely. We have built a dynamic system on the SwapSteem UI, where trading parties signal each other for instant trading.We connect the trading parties together to relate their terms and conditions of trade, during trading a trusted escrow agent is assigned for the cases where there is a dispute in trade.In peer-to-peer trading, individual parties trade with each other directly. Such as our everyday transaction are mostly peer-to-peer: buying lunch in a cafe, selling wares on eBay, or buying electronic gadgets from Amazon. These are examples of private trades between people or businesses, where each party chooses whom to transact with at a specific period.
Swap is a term that means, the exchange of trade between two individuals. Swap is a convention to encourage a genuine shared biological community for exchanging tokens on the blockchain.
The SwapSteem platform is built on the Steem blockchain and uses SteemConnect and will support Steemkeychain in beta.
Advantages of using SwapSteem
- Easy to use - The SwapSteem UI is built to work on virtually all browsers without the need for any extra software. We have a dedicated FAQ section on the UI to assist users to trade smoothly. We also have Progressive web application for mobile phone users to enable them trade with ease from their mobile phone browser or a home screen shortcut.
- Non-custodian platform - SwapSteem is decentralized and does not hold/store traders crypto or fiat. To avoid security issues involved in storing traders funds. Traders Steem/SBD are stored in an escrow system on Steemsmartcontract provided by Steem blockchain itself. The funds in escrow can never be moved to anyone ther than the traders involved, not event to the agent.
- Super fast transaction - The peer-to-peer platform system on SwapSteem allows for quick and smooth exchange between traders if both of them are online, we are working on an email/discord/telegram notifications feature soon to enable notifications on order status updates.
- Payment methods flexibility - SwapSteem has a robust payment system for the exchange of Steem/SBD. Traders can exchange their Steem/SBD through bank transfers, PayPal, and crypto exchange. Payments occur outside of the platform between traders and are invisible to SwapSteem team. We do not monitor payments between traders, and we only get involved when a dispute is raised.
- Free for all - We do not collect any form of registration fee in making use of the platform. Once you own a Steem account, you can log in and trade on our platform. We ware soon moving to an email based approach soon so that users dont need an steem account in beta.
- Worldwide adoption of crypto - The platform encourages mass adoption and use of crypto for our daily transactions, most especially the adoption of Steem/SBD. Which will, in turn, bring more users and investments into the Steem ecosystem.
The Swapsteem Forum
It requires some familiaty with steem to be able to trade on swapsteem. Since a lot of users are not so comfortable with the technical details we get a lot of questions by the community in our discord and steemit blog.A forum is centralized platform for keeping track of such queries so that others can also see the questions previously asked without having to chase people for answers.
Tokenbb is a forum manager which enables steem users to create and manage community forums. Tokenbb incentivizes both forum owners and users with steem upvotes. You can access the swapsteem forum at swapsteem.tokenbb.io and create a new topic to talk about. This topic will be visible to others and can be curated and commented by other users.To use the Swapsteem Forum, you will have to log in to swapsteem.tokenbb.io with your steem/email account. Users can also choose to stay anonymous on the forum.
What is steem engine
Steem Engine (https://steem-engine.com) is a platform that allows creation of custom tokens on the Steem Blockchain. Steem Engine uses the Steem Smart Contracts software, which is a smart contract enabled sidechain platform built on top of the Steem blockchain. Steem Engine Tokens are different than Smart Media Tokens (SMTs) currently being developed by Steemit, Inc. SMTs will be tokens that are native to the Steem platform and their transactions will be validated by the same software which currently runs the Steem blockchain. Steem Engine, on the other hand, will have all transactions posted to the Steem blockchain, so that they will all be available on a public, immutable ledger with deterministic, consensus-based transaction ordering and finality, however the validation of the transactions will be done by a separate piece of software .Just as with the Steem software, the Steem Smart Contracts (SSC) software is free and open source and anyone may run their own SSC node and independently verify the transactions and query the current state of the system. You can read more about steem-engine on the blogs of @aggroed, @yabapmatt and @harpagon, the team behind steem-engine.
A token is a representation of something in its particular ecosystem. It could be value, stake, voting right, or anything. A token is not limited to one particular role; it can fulfill a lot of roles in its native ecosystem.
How Does a Token Gain Value?
there are three tenets to token value and they are:
By taking possession of a particular token, the holder gets a certain amount of rights within the ecosystem.
- Value Exchange
The tokens create an internal economic system within the confines of the project itself. The tokens can help the buyers and sellers trade value within the ecosystem. This helps people gain rewards upon completion of particular tasks. This creation and maintenance of individual, internal economies are one of the most important tasks of Tokens.
It can also act as a toll gateway in order for you to use certain functionalities of a particular system.
The token can also enable the holders to enrich the user experience inside the confines of the particular environment.
- Types of Tokens
- Utility Tokens
Because most of the ICOs are investment opportunities in the company itself, most tokens qualify as securities. However, if the token doesn’t qualify according to the Howey test, then it classifies as utility tokens. These tokens simply provide users with a product and/or service. Think of them like gateway tokens.
- Security Tokens
A crypto token that passes the Howey Test is deemed a security token. These usually derive their value from an external, tradable asset. Because the tokens are deemed a security, they are subject to federal securities and regulations. If the ICO doesn’t follow the regulations, then they could be subject to penalties.
What is SWEET
Swapsteem has created our token called SWEET on the steem-engine token platform. The purpose of this token is to reward anyone who helps @swapsteem grow. It may include developers, bug hunters, advisors, influencers, marketers or pretty much onyone! These rewards will be sent by @swapsteem. We will not have any ICO or STO for these tokens.
Usecases for Sweet
- SWEET will be used to reward the contributors to the platform by @swapsteem
- SWEET can be used to trade against STEEMP on steem-engine.com
- SWEET can be used to trade against anything on swapsteem.com
- SWEET can be used to access varius service peovided by @swapsteem incuding Steem-automation, Steem-tip, steem-referral and swapsteem.
More use cases will pop up as the @swapsteem team grows and builds new products!
Distribution of SWEET
All of The SWEET that csn exist is already mined and sent to accounts as per the distribution rules.
The SWEET tokens will be distributed as explained below :
@aneilpatel - full stack developer and CTO - 400,000 SWEET
@svijay1692 - Full stack developer - 250,000 SWEET
@bunnybugs - front end developer - 250,000 SWEET
@agrawalayush - front end developer - 100,000 SWEET
@vj-93 - Project Manager - 250,000 SWEET
@bobinson - Advisor - 50 SWEET
@firepower - Advisor - 100 SWEET
@swapsteem - Owner and CEO - Rest of the tokens for issuing future rewards
After the beta release, SWEET will be rewarded to :
- developers for solving issues of add features on repo.
- Bug hunters for testing the application and reporting bugs.
- Advisors for guiding us in the right direction
- Marketers for advertising swapsteem to a greater audience
- Influencers for promoting the platform
- Community members for doing anything that helps swapsteem grow
- Add Steemmonsters Market
- Add Vote Selling Market
- Add ERC20 tokens Market
- Add EOS tokens Market
- Add more pairs in existing markets
- Add subscription plans for discounted fees
- Referral Program
- Beta Launch on 18th March as scheduled
We are now offering early and to our alpha for onboarding fee which can be paid in STEEM.
We have three plans for early access
- Noob ( 20 STEEM) - Trade amounts limited to 100 steem weekly
- Pro ( 50 STEEM ) - Trade amounts limited to 300 steem weekly
- Legend ( 100 STEEM ) - Trade amounts limited to 1000 steem weekly
To get the early Access, please visit our alpha at https://alpha-swapsteem.herokuapp.com and log in with your steem account. or fill this Google Form and send the fee applicable for your desired plan to @swapsteem account.
Call to Bug Hunters
You can test the Fiat and Crypto pairs on our Demo by creating a new listing or simply buying/selling from existing listings as shown in below screenshot. Please find the tutorials on the process in the links below. Bugs acknowledged by us will be rewarded by utopian and other supporters. We will also give early access to our alpha to 5 bug hunters for quality hunts.
Call for Delegation
Swapsteem is an open source project, recognized and supprted by @utopian-io and @fundition. Please consider delegating to @swapsteem to help us with the Development and maintenance of the application. The delegation will be used to upvote the Development and other contributions towards @swapsteem.
The delegators will be eligible to get an early access to our alpha which is already live where they can trade unlimited amounts on the alpha with discounts on trades upto the SP delegated weekly.
- Swapsteem - Steem-Engine Tokens market is now live!
- Swapsteem - Crypto Markets are now live!
- Swapsteem - The Fundition Campaign is now live!
- Swapsteem - Steem account creation is now live!
- How to Post a Trade Listing On Swapsteem
- A 12 Step Guide on How to Buy STEEM/SBD for Fiat on Swapsteem
- A 12 Step Guide on How to Sell STEEM/SBD for Fiat on Swapsteem