How SWC fits in
SWC (Sweetcoin™) is an ERC-20 digital token used to activate service provider licenses.
Providers of Sweet Commerce services must maintain a minimum level of SWC on deposit with the Sweetbridge Foundation inorder for their license to remain activated.
The amount of SWC needed to activate a license varies by the type of license. Once a provider no longer wishes to utilize their license, their SWC is returned. If a licensed provider violates the terms of their license agreement some or all of the SWC may be forfeited to cover fines.
SWC may also be converted to Squares. SWC is the only means of obtaining a Square other than earning it by increasing the amount of CROP harvested by a Participant. When SWC is converted to a Square it is burned and this process can’t be reversed.
How to buy SWC
SWC (Sweetcoin™) is not sold by Sweetbridge but can be acquired on crypto currency exchanges or through the soon to be launched Sweetbridge 4AllWallet app. SWC is a fixed supply token that is designed to become scarce.
This will occur as the economy grows and more parties either burn it for Squares or lock it up to activate licenses.