XRSwan (XRSW) is a cryptocurrency created & issued on the XRPL in Dec 2021. It will play a vital role in the core function of both our DEX & our upcoming NFT Marketplace - as the platforms’ native token For example: traditional trading pairs that use XRSwan (for lower fees) on the DEX, and requirement of the token to mint NFTs on our marketplace. Both platforms are scheduled for release this year.
Issuer Account: rUHoc9nQyZzahE5rq26QHkvBmnvCEoPAhZ
Issuer account status: Blackholed
Initial supply created: 100m Current supply: 60m (at time of writing) Post Phase 2/2 Token Burn (Complete)
The Issuer account (rUHoc9nQyZzahE5rq26QHkvBmnvCEoPAhZ) was then immediately 'blackholed' so that the company (CygnetWire) lost ALL access to the account permanently.
This means that no more XRSwan tokens can be created and/or issued from this account ever again, making the supply fixed. CygnetWire can however REDUCE the supply by burning a portion of its own tokens.
The great thing about building all of this on the XRPL blockchain, is that everything is completely transparent and can be verified by visiting places like xrpl.services or XRPscan.
IMPORTANT: Despite being advised by many, especially early community members to do so, we felt that a 'PRE-SALE' was something we were not interested in as a company. I'm sure there are perfectly legitimate cryptocurrencies that offer 'pre-sales', but we just felt it went against our company's ethos. This is why every token we have distributed so far - we have done so for free.
This has mostly been done at random to support those who set up trustlines & through a variety of social media competitions.
Transparency Note: XRSwan Dev Team at Cygnet-Wire We will be keeping a reserve of exactly 6m tokens (10% of supply post Phase 2/2 Token burn) for future funding of projects that further the use case of XRSwan. This will help fund developer costs, marketing, listings, and other use case propelling projects. eg NFT Marketplace, DEX, and more.