What is SwapSteem
SwapSteem is a peer-to-peer, no custodian exchange platform built on the Steem blockchain. The main vision behind Swapsteem is to create a platform to enable Steem users to trade their STEEM/SBD for Fiat, Cryptocurrencies tokens, or pretty much anything with other users. It is a completely open source software licensed under AGPL and the license and source code can found on our GitHub repo.
We have installed a dynamic system on the SwapSteem UI, where trading parties signal each other for instant trading, and we connect the trading parties together to relate their terms and conditions of trade, and upon agreement, a trade is initiated between the users. For each trade, a trusted escrow agent is assigned for the cases when a dispute arises between the parties involved in the trade.
You can Log in and Trade on our exchange with your steem account or create a new one using the Sign up button on the Home Page at https://swapsteem.com
What do we offer in our Beta
Insta Crypto Swap
Insta Swap is a term that means exchange of assets between individuals and exchange that provide a service to convert a cryptocurrency to another based upon the current market price. Insta Swap is a convention to encourage a genuine shared biological community for exchanging steem based assets to other crypto assets securely and near instantly under the moderation of a centralized exchange for quick automated withdrawals.
To swap your Cryptocurrencies instantly, you can use our Instant Swap feature powered by our partner @onepagex. The Insta Swap feature enables you to swap the largest number of cryptocurrencies provided by any instant exchange with more than 140 coins supported and counting. The best thing is that is the only instant exchange with such facility that supports STEEM as one of the main pair besides blocktrades.us that support cross-chain swap.
Please read the following post to know more about how to instantly buy or sell cryptocurrencies for the lowest fees online.
SwapSteem - Swap Crypto Currencies Near Instantly!
Peer to Peer Fiat Swap for STEEM and SBD
FIat Swap is a term that means exchange of fiat currency between two individuals where Steem based assets are stored in a steem escrow transaction. Swap is a convention to encourage a genuine shared biological community for exchanging anything for STEEM blockchain based assets.
Swapsteem utilizes the inbuilt Escrow feature provided by the Steem blockchain for the security of funds. The STEEM/SBD is locked with a third party Escrow agent account until successful processing, who will have the authority to release the funds to either side in case of a dispute between the traders.
There is a time window of 2 hours for the Seller and Buyer to Initiate the escrow transaction and approve the escrow transaction. If the traders fail to complete the transaction until the deadline, the trade is canceled/rejected and any locked funds will be released to the Seller.
If the Escrow is transferred and approved by the traders, the agent will need to confirm the escrow too within the same deadline.
After the agent approval, again there is a window of 3 days from order creation for the Buyer and Seller to confirm the payment and Release the escrow respectively. If a dispute arises where the seller doesn't release funds after confirm payment or Buyer confirm payment without making a real deposit, or in case funds not released within the deadline, the escrow agent will have the authority to release the funds to either party depending upon the proofs presented by both parties.
SWEET ISO: First Ever IEO on a P2P Exchange
The SWEET Token IEO is already in progress at the swapsteem website! Please read more about the IEO in the post Swapsteem - Announcing First Ever IEO Hosted on A Peer to Peer Exchange!
Rate : 0.100 STEEM / SWEET
Soft Cap: 5000 STEEM
Hard Cap: 30000 STEEM
** Bonus: 25%, No Minimum Amount**
How to Participate in the IEO
For All the Buyers who Buy SWEET during the IEO from @swapsteem will get an additional 25% bonus SWEET Tokens based on the amount of SWEET bought.
For example, Buying 1000 SWEET for 100 STEEM at the IEO rate will also get you 250 Bonus SWEET tokens raising your total tokens to 1250.
Why Should You Buy SWEET
SWEET is the native coin for Services offered by @swapsteem which includes @swapsteem (Peer to Peer Exchange for Steem), @steem-tip (Tipbot for Tipping with Steem based coins on multiple social networks), @steem-automation( Easy automation of Steem and Steem-engine related transactions) and some more projects in incubation.
SWEET holders are eligible for discounts up to 100% on our services as well as other HODLer perks. SWEET can also be used to Buy services provided by @swapsteem including Token Listings on our applications.
What's Next on the Roadmap
- More Pairs and Markets : We already have some more markets ready to be launched including the most awaited Steem-Engine tokens market with token/token and token/fiat pairs along with regular p2p markets for steem and SBD against ERC20, TRC20, EOS20, and BTS UIAs, etc. We will keep adding those markets gradually as we spike up in volumes on existing markets with better liquidity.
- Adding SWEET staking perks SWEET Token early adopters and stakers will be eligible for Hodler perks including discounted trades worth up to 100 % of the sweet staked and different token distribution by the sweet SCOT bot.
- Exchange Launch on 16th June As announced in the older posts, we are still hoping to launch the full-fledged exchange by 16th June.
- Swap-Witness @swapsteem is going to set up their own witness node via the @swap-witness account. We will make an announcement post as soon as the witness is set up and ready!
- Swapsteem - Introducing SweetBot - A Tipping Bot for Steem-Engine Tokens on Discord
- Swapsteem SWEET'Drop - Now you can earn SWEET Tokens for participating in discussions on our forum!
- Swapsteem - All You Need to Know about SwapSteem and the SWEET'Drop!
- Swapsteem SWEET'Drop: Increased and Automated Rewards