Solar

Overview

Solar (SXP), formerly known as Swipe, is a cryptocurrency that powers the Solar ecosystem, which aims to bridge the gap between traditional finance and cryptocurrencies. The project rebranded from Swipe to Solar in 2022 and operates on the BNB Smart Chain.

Purpose and Utility

Solar's primary utility includes governance rights over the Solar ecosystem, staking capabilities, and use as a payment method within the Solar network. Token holders can participate in governance decisions regarding protocol upgrades and ecosystem development.

Business Model

The business model focuses on creating a decentralized ecosystem for payments and financial services. The project maintains transparency through open-source code and regular community updates. The core functionalities do not involve interest-bearing products or gambling.

Real-World Adoption

Solar has established partnerships with various platforms and maintains active development. The token is primarily used for governance and staking within its ecosystem. While trading volume exists on major exchanges, the utility adoption is still in development phases.

Token Distribution

The token distribution includes allocations for ecosystem development, team members, and public trading. The project implemented vesting schedules for team tokens to prevent large sell-offs.