Blackswan Token $SWAN Re-Launch
Cryptocurrency markets are heavily correlated and full of downside tail risk. While there are many tokens competing to achieve the highest positive growth during these periods, virtually none of the projects plan for the opposite, extreme contraction during market cycles.
Blackswan maintains stability not only during market growth cycles but unleashes growth during contractionary market periods with the aim to move as an anti-fragile asset or uncertainty index.
Blackswan has seen an eventful 20 days since launch, and for the team a monumental learning experience on multiple fronts. We have made the decision to pivot the project based on what we have learned and what we believe to be the most beneficial to our users in order to sustain the long term success and vision we are aiming for.
Below we outline some of our plans, major changes coming to the project, and the reasons for doing so. Remember, plans are always subject to change, and we will do our best in constant communication through medium article updates, YouTube videos and Telegram announcements.
Moving Away From MATIC
From day 1, we believe Polygon Matic has been an extreme bottleneck to our project for multiple reasons. Our users have seen trading issues on Quickswap even during periods of minimal load. The MATIC network is unreliable and experiences periodic connection issues from wallets like MetaMask. The network is constantly under full load, and requires that users consistently increase gas cost manually or resend transactions. And finally, MATIC adoption simply is not comparable to competing chains making it a huge barrier to entry for our community.
Due to these reasons and many more, we have decided that Blackswan will be moving to BSC as its home base, and scaling to further chains down the line as we see fit. This will give us access to a much larger user base eager to learn more about the project on a chain that is substantially more mature.
Capped Token Supply
We believed an elastic supply would be integral to how Blackswan would bring value to investors, however we were proven wrong during live trading. Blackswan rebalances dilute token supply far too aggressively and are a negative externality to the users as a whole. With this in mind, we have decided to set a 10,000,000 $SWAN token hard-cap for the re-launch on BSC. Rewards will instead be derived 100% from ecosystem revenue and will no longer include token price dilution.
How Will Tokens Get Distributed?
Existing token holders will receive $SWAN v2 tokens 1:1 to their existing holdings, and the remaining token supply in order to reach the full 10,000,000 will be used as passive LP rewards on BSC.
A more in-depth announcement will be made when the transition is ready to occur.
Putting a Pause on Rebalances
Due to the nature of these extreme changes, Blackswan rebalances will be put on hold until the launch of $SWAN v2 in order to prevent further supply expansion. Current rewards being distributed in the Lake will continue until they run out for approximately 30 days.
Revenue First Goal
Before the launch of $SWAN v2 on BSC, revenue generating systems will be in place with an existing user base. In order for $SWAN to sustain it’s anti-fragile nature, an increasing pool of value must be held in the Blackswan Fund, and this is only achievable in a sustainable way by creating applications that generate external revenue and value. Not creating this before-hand was a major mistake in the launch of $SWAN v1.
This will include the launch of the Blackswan hedging platform, Blackswan Stablecoin and potentially a cross-chain bridge before the launch of the Blackswan v2 token.
UX / UI Focus
We have heard community suggestions loud and clear, and are working on a new UI ground-up that will support the revenue generating applications we create. This means that Blackswan will have a whole new look and feel far before the token is fully migrated.
Blackswan V2 Whitepaper
A new whitepaper is in the works detailing the full adjustments made to the $SWAN token in order to achieve anti-fragility, and features included in the Blackswan hedging platform and other revenue generating applications we have planned.
This is just the tip of the iceberg, and we have ample resources in order to make this happen. In the interim, $SWAN v1 will remain on Polygon free to be traded as speculation to the success of $SWAN v2.
