Data Ownership as a Form of Universal Basic Income. Meet Swash.
Swash, a data monetization movement that just closed a successful IDO, are launching a new Data Union app release, catapulting the project into their ecosystem products and solutions – or First Wave Solutions. Launching in 2019 and growing to over 90,000 users at the time of writing, the Swash app enables everyday internet users to earn SWASH tokens for something they already do – browsing the web. Swash works by pooling the captured non-sensitive data together with the rest of the Swash Data Union and, when purchased, redistributes the profits back out to the Swash users, making Universal Data Income a reality.
The new app will include brand new UX to simplify the experience and to appeal to a wider audience of people beyond the cryptosphere, putting mass adoption at the forefront of Swash’s offering. This is supported by Swash’s upcoming donations feature – Data for Good. The Data for Good feature will allow for Swash’s users to make automatic donations to the social goods organisations of their choice, upgrading the Swash offering and plugging into the global audiences of the likes of Unicef, Oxfam, Save The Children, and any other causes that accept donations in crypto.
The SWASH Token – Use Cases, Rewards, and Uniswap V3 NFT Liquidity Mining
The launch of the SWASH token jump-started the evolution of Swash from a data monetization app into an all-inclusive data ecosystem, building upon four core principles: incentivize, transact, multiply, and govern.
SWASH is used to reward Data Union members for the aggregated power of their data from normal web browsing, while providing seamless integration across sIntelligence, sApps, and sCompute.
Users can also multiply their rewards by using SWASH to stake liquidity, and token holders can participate in the Swash governance process to influence future development decisions and the use of DAO growth funds.
SWASH’s availability on Uniswap V3 under the SWASH/USDT trading pair, meanwhile, provides both a DEX listing and yield farming opportunity for liquidity providers. In addition, a liquidity mining reward program has been established for SWASH/USDT LP tokens, further incentivizing Uniswap liquidity providers by returning an NFT token that can be staked in the native Swash liquidity mining pool.
The pool offers a dynamic APY based on the value and duration of NFT tokens staked, whereby SWASH can be withdrawn at any time.
The Dawn of a New Age of Data
Following the success of the initial Swash data monetization app, Swash is evolving into an all-inclusive data ecosystem, incentivizing individuals, businesses, and developers with new tools and monetization mechanisms to encourage their involvement.
The first wave of these ecosystem solutions will include the Data Union, sIntelligence, sApps, and sCompute products, powered by the native SWASH token and building on Swash’s core principles: incentivize, transact, multiply, and govern.
Data Union builds on the app, providing users with greater control over the collection, access, and usage of their data, enforcing data rights while rewarding users by eliminating intermediaries.
Using high-quality aggregated Swash data, sIntelligence will furnish businesses with the comprehensive, customizable, and compliant insights they need to stay ahead of their rivals. sApps, meanwhile, allows developers to build new apps atop Swash technology, paving the way for direct communication with users to better appreciate their needs and redistribute rewards.
Last but not least, sCompute improves data access without compromising privacy or security by allowing data scientists to deploy algorithms on Swash data without purchasing or moving it – instead only paying for the computation and results.
Jumpstarting the evolution into this all-inclusive data ecosystem, SWASH tokens will be used to reward Data Union members for the value of their web browsing data. Cross-chain interoperability with Ethereum, xDai, and Binance Smart Chain, as well as integrations across sIntelligence, sApps, and sCompute, enables SWASH to fuel all transactions within the ecosystem.
Token holders can also multiply their rewards via staking and liquidity mining programs, and participate in the platform’s governance and growth fund deployment via the Swash DAO.
The Roadmap Ahead: Product Development, Ecosystem Partnerships, and Expansion to the Metaverse
With the release of the new app this week, the Swash team continues delivering on promises by focusing on the long term vision through further ecosystem and product development, partnerships, and market expansion, having already begun sIntelligence development to embark on the “Surf” stage of its roadmap. Surf sets out to generate continued user growth for the eponymous app, expand browser integrations and web store publications, and launch the first version of Swash smart contracts to enable revenue distribution between Swash members.
Conceptually, Swash elevates users into a new level of ownership within the metaverse, allowing everyday individuals to claim ownership over their identity by practicing their data rights and celebrating the impact of people power within a digital realm in a concrete way, readily available today.