Swarm is a crowdfunding platform powered by Bitcoin 2.0 technology. It allows the users of a product to also be its investors. Everyone benefits as the platform grows.
On 17 June, Swarm made 24 million SWARM coin available in a limited-time crowd sale that ran until 20 July. Every holder of SWARM coin will share in the success of future projects launched on the Swarm network.
Phase One consists of 4,000 Bitcoin; people participating on day one will receive 5,250 SWARM coin per Bitcoin. As more Bitcoins are received, the number of SWARM coin distributed will decrease to 4,750 until the end of Phase One. After a short cooling-off period, there will be a Phase Two with a 17,000 Bitcoins cap with a conversion rate of 4,250 SWARM coin, decreasing to 3,750 per Bitcoin until they are all gone. UPDATE: We listened to early backers feedback and cancelled the second phase (for now).
Swarm’s projected 18-month expenses include developing the core infrastructure and usability to allow for the creation of new coins. With a full raise of 21,500 BTC, Swarm will be a true incubator, helping get projects and new coins off the ground.
We raise 1,000 BTC, majority goes to salaries.
We raise 10,000 BTC, 1/3 to salaries, 1/3 to SWARM coin launch funds, and the rest to Swarm Agents and miscellaneous.
Make it rain with 21,500 BTC? More than half goes into coin launch funds, which means we make more projects happen on our platform.
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