In today’s world, technology and innovation are constantly evolving, leading to new trends and opportunities. One of the most significant changes we’ve seen in recent years is the rise of cryptocurrency and blockchain technology. Among the many cryptocurrencies, Sweep Token stands out as a unique community meme utility token that aims to solve a problem in the market. Launched in September 2022 on the Binance Smart Chain, Sweep Token offers a solution to the divide between Ethereum NFTs and BSC NFTs, increasing media interest and holders, making BSC chain NFTs more valuable, and offering a safe option for investors. This article will delve deeper into the Sweep Token project, exploring its vision, mission, and offerings.
Introduction
Sweep Token, a community meme utility token built for the community, was launched in September 2022 on the Binance Smart Chain. The token is decentralized, with a renounced contract and fixed tokenomics. The Sweep Token community comprises dedicated volunteers and a community team passionate about the token’s vision and mission.
The Problems They Solve
The market has a significant divide between Ethereum NFTs and BSC NFTs, with Ethereum dominating the NFT market with examples such as CryptoPunks and Bored Ape Yacht Club (BAYC). The price difference between the two chains is immense, and Sweep Token aims to solve this problem by giving BSC chain NFTs more recognition, media interest, and holders. The token’s mission is to close the gap between the two blockchains, making BSC chain NFTs valuable, and Sweep Token holders can participate in NFT draws and NFT staking hub for holding Sweep Token, run by the Community Team on the Sweep Project website.
So How Do The Sweep Reflections Work?
Every transaction on the network redistributes a percentage back to holders, with the amount of SWEEP received proportional to the amount held. The reflections automatically drop into the holder’s BSC wallet, with the rewards increasing as the amount of SWEEP held grows.
And How Does this help the price of SWEEP Token?
As a deflationary token with a fixed supply, Sweep Token’s reflection rewards also go to the dead wallet address, reducing the circulating supply as the dead wallet balance increases. Results of the circulating supply may vary after launch, and buyback and burn/trading volume can make significant differences to the circulating supply.
Use Cases
- Sweep Project Draws: Holding SWEEP Tokens enables participation in draws for BNB, blue-chip NFT collections, and other prizes run by the community team of Sweep Project. Participation in the draw does not require the SWEEP Token to be traded; holders need to hold the required amount to participate.
- Sweep Hub: Sweep Hub is an NFT and token staking platform for Sweep Token, offering a safe option as no tokens leave any wallet. Users can stake NFTs and earn Sweep Utility Tokens on the staking hub.
Unlocking Exclusive Features with Sweep Token: A Look into the Sweep Members Club
Sweep Token, the community meme utility token built for the community, offers its holders exclusive access to the Sweep Members Club (SMC). The SMC is an exclusive membership club with features such as balance checking, multiple entries to the draws, and earnings in Sweep Points.
To access the SMC, you need to hold the SMC NFT and Sweep Token. Members of the club can earn Sweep Points, which do not have monetary value but come in handy in the club. The club offers a unique and rewarding experience for its members, creating a sense of community and appreciation. Visit the Sweep Members Club here: https://www.sweepproject.com/vip.php.
Safe and Secure Earnings with Sweep Token: A Look into the Sweep Hub
Sweep Hub is the ultimate BNBCHAIN learning platform that offers a safe and secure opportunity for earning Sweep Token. The platform allows you to hold BNBCHAIN NFT collections or BNBCHAIN Tokens and earn Sweep utility token. The best part is that no NFTs or tokens leave your wallet, making it extremely safe.
To take part in the Sweep Hub, you need to hold Sweep Token. The platform offers a way to give utility to NFT collections, reward users, and attract new holders to collections. With Sweep Hub, you can create earn pools and generate passive income while holding your favorite NFT collections or tokens. Check out Sweep Hub here: https://www.sweepproject.com/sweephub/.
Tokenomics
The total starting supply of SWEEP TOKEN is 100,000,000,000,000,000 – 100 Quadrillion tokens
Breakdown:
- 54% Was sent to the dead wallet address on launch
- 0.8125% sent to team wallet – locked for 1 year
- 20.1875% Added to Liquidity – Locked for 10 years
- 25% allocated to the fair launch
Although these tokens were created for free by the Community team, the team chose to freeze them for one year.
When the Sweep Token contract is renounced, no one can alter the tokenomics since the owner’s wallet is now defunct.
- You can view the change of ownership on BSCSCAN: https://www.bscscan.com/tx/0x8acc90801a3bf4c92f4256da32c0fd5a1facdd3b1abf7686d7da588d025ab824
Security
- Official Contract Address: 0x09c704c1EB9245Af48f058878e72129557a10F04
85% of liquidity is frozen for ten years. Maintaining the launch price of a reasonable product. After a decade, the funds associated with a defunct wallet address will be permanently locked. Current Liquidity is secured inside a Pinksale locker: https://bscscan.com/token/0x928ff790f8009b7bc33b0b5addaf5ab29fb1461f#balances
There was no pre-sale, but a fairlaunch was held through Pinksale. Even members of the Community team had the opportunity to participate in the fairlaunch.
The quantity of sweep tokens per BNB contributed was proportional to the number of participants and the quantity of BNB submitted, giving everyone, including the community team, an equal opportunity to participate.
In addition, 54% of sweep tokens (54 quadrillion) were delivered to a dead wallet address at launch, and the Community team has undertaken several Buy Back And Burning to date: https://www.sweepproject.com/sweepburns.php
The contract has been audited by Contractchecker and Techrate.
- https://github.com/ContractChecker/audits/blob/main/Sweep_Token_0x09c704c1EB9245Af48f058878 e72129557a10F04_Smart_Contract_Security_Audit_By_ContractChecker.pdf
- https://www.sweepproject.com/techrate.pdf
As Sweep Token Evolves, they may do additional Audits. Dead Wallet Address: https://bscscan.com/token/0x09c704c1eb9245af48f058878e72129557a10f04?a=0x000000000000000000000000000000000000dead
Locked Liquidity Address: https://bscscan.com/token/0x928ff790f8009b7bc33b0b5addaf5ab29fb1461f#balances
Conclusion
Sweep Token offers a solution to the divide between Ethereum NFTs and BSC NFTs, making BSC chain NFTs more valuable and increasing media interest and holders. The reflection rewards and staking hub make holding SWEEP Token a profitable and safe option for investors, with the community team actively engaging with the holders through draws and other utility offerings.
Official Links
- Website: https://www.sweepproject.com
- Twitter: https://twitter.com/sweeepnft
- Telegram: https://t.me/sweepproject
Disclaimer
Opinions stated on CoinWire.com do not constitute investment advice. Before making any high-risk investments in cryptocurrency, or digital assets, investors should conduct extensive research. Please be aware that any transfers and transactions are entirely at your own risk, and any losses you may experience are entirely your own. CoinWire.com does not encourage the purchase or sale of any cryptocurrencies or digital assets, and it is not an investment advisor. Please be aware that CoinWire.com engages in affiliate marketing.
