SWFTC - The Comeback Kid?

Pumped strong last month, how HIGH can it go?

April 23, 2024

SWFT blockchain is one of those ICO Dinosaurs with an extremely low market cap. It’s the first bridge between blockchains, but grandpa is showing his age. He’s got a couple squeaky knees, but an existing customer base. The question is, with a little HGH (human growth hormone) aka alt-season, how high can he jump?

Age: ~6 yrs

Current Market Cap: $49,000,000

Total Supply: 10,000,000,000

Circulating Supply: 8,958,000,000 (90%)

Whale Holdings (> 5%): 57%

What is the project?

  • A centralized blockchain bridge that allows transfer between otherwise un-transferable tokens. This technology was cutting edge at the time, but integrated into a lot of platforms now

What is the product?

  • A platform that bridges between 800 cryptocurencies over 50 chains

  • Consumer wallet (web & mobile) and enterprise solutions (API & others)

Revenue potential

  • Fees are 0.2% per transaction and 0.1% for native transactions (less than Uniswap's 0.3%)

Model

Tokenomics

  • Very large supply of tokens @ 9 billion, chart looks like token holders have been diluted over time

  • 57% whale holdings with no DAO, and price action that has been poor for the last 5 years means a lot of bags that would probably like to unload

Team & Community

  • Ramble Lan is CEO, who is part of the North American Blockchain Association

  • Team has quite a few members throughout the US, Europe and Asia

  • The Telegram is surprisingly neglected, spammers seem to be having conversations with themselves

Financial partners

  • Draper Dragon & Berkley Blockchain Incubator

Risks & Downsides

  • Top market cap limited by adoption, top competitors have out innovated and out grown SEFT

  • Price action was poor during the last cycle

  • Projections are highly uncertain due to lack of transparency / centralization. Will hurt because investors cannot track their progress in real-time, must rely on updates from SWFT

I think SWFT has some room to run, but they’re not a future blue chip. The incredibly high token supply also doesn’t bode well for them, and don’t forget the massive whale holdings. Do what you wish, but I have my reservations about this one taking off compared to their decentralized competition.

*Information is not intended to be financial advice to the reader.