A Decentralized Digital Currency
Swipe's SXP is the protocols native digital currency and used for throughout the Swipe ecosystem of products to operate and secure the network. Users may use SXP to stake by bonding SXP on the Ethereum blockchain to secure the payment network, use it towards Swipe Visa Card lock-ups for higher tier cards, redeem it for discounts on the platform, convert it to fiat and use on the Swipe Visa Card, and stake SXP to run a commercial node for Swipe Issuing.
SXP utilized on-chain will enable the Swipe Network which collects the processing fees of the protocol. 80% of these protocol fees that are generated within the Swipe Network smart-contracts will be burned and 20% will remain in the oracle contract.