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Swipe launches Initial Wallet Offering (IWO) Platform Called “Ignition”



Swipe launches Initial Wallet Offering (IWO) platform called "Ignition"

Swipe a digital wallet that allows users to buy, sell and pay with cryptocurrency today launches Swipe Ignition. Swipe announces the launch of “Swipe Ignition” via an official blog post on Medium.

Basically, Swipe Ignition is a platform which is designed for new projects to raise capital and to be listed on the Swipe wallet app. So with this, the new projects will get instant liquidity and access to payment globally.

According to the blog post, “Ignition is an “Initial Wallet Offering” (IWO) that enables new projects to raise capital in SXP on the Swipe Wallet platform and where 50% of that raise gets burned.”

Further, the blog post also added, “We realize that burning 50% of an initial raise might be difficult for new projects that need the capital to build what they are aiming to launch. Swipe Ignition only onboards projects that do a 20%-30% private sale prior/during the public sale where these funds are used to build out the ecosystem. This enables the project to have sufficient treasury to operate its goals.”

With the help of Swipe Ignition, new projects will have access to a wide range of services such as listings, marketing, partnerships, liquidity, and more. 

Joselito Lizarondo, Swipe CEO stated, “We are excited to give projects a new avenue to quickly go to market, get access to a wide user base, and become liquid to support their ecosystem and their own holders. The entire Ignition platform requires payments in SXP for the IWO public sale and half of these get burned to support the Swipe ecosystem.”

The basic criteria for the projects to be launched on Swipe Ignition platform are mentioned in the official blog post. So, please go through the official post for the basic criteria.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.