SWYFT & BiFrost Announce Merger
The founders of SWYFT (SATC) and BiFrost (FROST) are excited to announce plans to merge their projects and communities into an expanded ecosystem under the SWYFT brand. This expanded community will combine the development and business resources of both teams.
We will share a growing portfolio of applications and use cases that include the Crypto Hunter Augmented Reality game, Shade My Trade, and several other existing applications.
As part of the upcoming merge, a new wallet is being created and a new blockchain will be launched in the next 4-6 weeks. The new blockchain will feature a proof of stake consensus model, a masternode network and a new cold staking feature that will allow users to stake while retaining control of their coins in local or cold storage.
The team is also in negotiations to continue listings on current exchanges. We will also have a listing on a new top-20 exchange (Bitmart) which has over $1 billion in average daily volume.
The new wallet is only a first step in a continuing development cycle that will expand the initial feature set to include a turing complete smart contract system, support for ERC20-compatible tokens, a fiat-tethered coin, and specialized sidechains.
Our goal is to create an ecosystem that will act as an incubator and lead to development partnerships for a wide array of consumer-facing applications.
Current holders of each coin will be given the opportunity to register and swap existing coins into the new system at an exchange rate based on relative market capitalizations taken just prior to the swap program launching.
The date of the final market capitalization snapshot will be announced via both projects’ Discord and alternate chat channels. As a special bonus for current holders of SATC and FROST, participants in the swap program will be offered free masternode service on the SWYFT hosting platform.
Following the launch of the new blockchain and successful execution of the swap, both existing blockchains are to be retired.
Planned Specifications for the new coin are as follows:
COIN NAME: SWYFT
BLOCK TIME: 1 Minute
BLOCK REWARD: 7.66 SWYFT (Year 1)
MAX SUPPLY: 12,000,000 SWYFT
PREMINE SUPPLY: 1,000,000 SWYFT
MASTERNODE COLLATERAL: 1,000 SWYFT
MASTERNODE REWARD: 45%
STAKING REWARD: 20%
PROJECT BUDGET: 5%
COIN MATURITY: 175 BLOCKS
For more information, please join us on Discord: