Topic: SwiftRewards - Compensating Those Who HODL in Bear Markets! (Read 203 times)

SwiftRewards Tier 1, Round 3 Paid 

https://steemit.com/swiftcash/@swiftcash/swiftrewards-tier-1-round-3

Tier 1, Round 2 can give HODLers a maximum of 0.70% ROI.
https://explorer.swiftcash.cc/swiftrewards/1-2.json

Tier 1, Round 1 is gonna give HODLers about 0.55% ROI.
https://steemit.com/swiftcash/@swiftcash/swiftrewards-tier-1-round-1

Does any of them have such a thing to airdrop holders in bear markets? I don't think they do. As with bitcoin's block halvening, it happens every four years and because of that it's disruptive imo. Ours goes down every block by a few sats and it will eventually halve in 20 years. Also, bitcoin is not deflationary. It's still inflating and will be and at one point it will reach 0 inflation which is the same case with us. However, ours will take much longer and is a lot smoother so our price should not pump or dump too much and piss holders and investors off too much. Having said that, inflation is not always a bad thing. It depends on how it's spent and who gets it. With our case, stakeholders are in full control of inflation. They are currently getting most of it, and decide what happens to the rest of it. Unlike bitcoin for example in which inflation can go to those with the strongest infrastructure. They even control the security of the network and can 51% it whereas ours will be in full control of the stakeholders. I hear you with the top coins and stuff. They could be less risky and the returns are also going to be much less if they continute to thrive and survive. Some people like myself prefer to risk more, especially when it comes to projects that I have been involved from before launch and know it's legit and has a lot of advantages. Not everyone can reach the same level of knowledge about every single project because it takes a lot of time but time will expose a lot of things which is why aging is so important in this space and the main reason bitcoin is still king.

No this project did not have an ICO. It's a cryptocurrency splitforked from smartcash because we did not like the path it was going towards which was more centralization than decentralization. And we're almost six months old now if we count the two initial resets and if we count our history with smartcash, we're almost 2 years old. Thanks for your advertising tip. But I was mainly trying to raise awareness by explaining one of the great aspects of swiftcash than advertise anything per se.

If you are advertising your project. I think it's best for you to post it here https://bitcointalk.org/index.php?board=159.0. Or just move this topic to that section. Are you planning to have an ICO for this? Or IEO on a known platform like bittrex?

There are plenty of coins that are or plan to implement a proof of stake - Cardano and Ethereum, to name a couple. The next few years will have a very competitive market where only the best will thrive, so I personally will stick with the best coins. Even bitcoin, though proof of work, with its halving every four years has a deflationary effect, thus incentivizing people to hold for the long term.

It's possible new coins can arise and compete, but I wouldn't bank on it.

New section has been added to our explorer to keep track of possible airdrops due to price depreciation known as SwiftRewards!🤓 https://explorer.swiftcash.cc/swiftrewards/ 

https://twitter.com/swiftcashcc/status/1117283704039071744

Information about the latest snapshots and tiers can be found on our explorer in a json format.
The following link shows the information for swiftrewards tier 1, round 1.

https://explorer.swiftcash.cc/swiftrewards/1-1.json

Thanks! Feel free to get involved yourself. Our market cap isn't even half a million dollars yet and our total supply is still below 2%. Although I have to say we've designed everything in a way that would be very fair to future adopters like even swiftrewards snapshots start one snapshot late so right now we only have monthly snapshots and next month we'll have the start of our first 3-month snapshot! And our block rewards slowly halve over 20 years for the first time. Second halving will take 40 years! Third halving 80 years and so on! Nevertheless, I'm sure there is still huge benefits for those who get involved earlier than others as inflation still goes down pretty rapidly!

I think this might be a wonderful cryptocurrency concept that can propel the blockchain technology world of business, the whole purpose is to save the failing prices of crypto during the bear market. I want to encourage SwiftReward project owners to ride on. Thanks

There are four tiers for SwiftRewards that resemble term deposits in traditional banking. If price continues to depreciate, then yes we'll have multiple airdrops and longer-term holders will end up getting more rewards due to how snapshots work. The compensation is not going to be 100% though. Inflation for 100% compensation would be next to infinite and not ideal at all. But price is also a tricky thing and it's not always easy to predict it or sell to buy back cheaper. There is no gaurantee. Having a compensation scheme however, even if it's not 100%, is a good incentive to encourage HODLing imho, esp. in bear markets where you feel like bottom could be in any minute! It would help avoid the domino effect of bear markets imho, at least to some extent... We're the first to try this anyway! Looking forward to see how it goes

Through a long term investment that long term holders are enduring, does swift rewards provide airdrops multiple times? I think if it is just one time, then holders will not be motivated to pursue the swiftrewards project in the market. Well, they will HOLD based on their reasoning still, not considering the airdrop because the reward for them is the good harvest in tomorrow.

For those of you who don't know what SwiftRewards is, to put it simply, SwiftRewards is an airdrop mechanism adopted by the SwiftCash community in order to help us achieve a consistent and stable growth model. This end goal is achieved by airdropping holders in bear markets, and therefore compensating some of the loss in their portfolio. If you want to find out more about the details of it, feel free to have a read through our whitepaper.

The origin of this idea goes back to a smart proposal by @decentralizd during the last bear market which was for some reason censored within the smartcash community that we later split from. The proposal was suggesting that we should airdrop holders in the bear market to incentivize holding and slow down or perhaps stop the dumps.

This idea caught my attention a lot and I was like, "why not come up with a system like that from the start?" And we did exactly that with SwiftCash. Inflating even more in a bear market to strengthen the price may sound moronic to some people, but inflation is never the only reason for price to depreciate. What matters with inflation most, is who gets it and whether they deserve to get it or not?

I think psychologically speaking, we can all agree that bear markets do hurt the investors a lot as they see their portfolio shrinking and losing its value. Since SwiftRewards are airdropped on holders and not sellers, it's fair to argue that those who are airdropped won't be likely to simply dump, and if they do dump or move their funds for whatever reason, they'll be disqualified from the next possible airdrop.

The further beauty of SwiftRewards is that it's designed in four tiers and tends to resemble term deposits in traditional banking. These tiers which occur every 1, 3, 6 and 12 months, will reward holders based on the period of their faithfulness to the blockchain. That is to say the longer they've been a holder, the more they'll be rewarded in case price depreciates.

To find out more about SwiftRewards, read our whitepaper.
https://swiftcash.cc/assets/whitepaper.pdf