Moving half of SWM rewards to Polygon

The token issuance app has been ported to Polygon, including the actual SWM which has been bridged too. With this, there comes a need for the SWM token to be available on the new network.

The crucial aspect of a token-backed ecosystem is token liquidity. For users to be able to use our platform on additional chains, they need to be able to purchase the token on an open market.

We expect that some users will migrate liquidity on their own, mainly because the costs of operating on Polygon are much lower making it more attractive for transaction-heavy apps like ours. On the other hand, we think it's fair to incentivize liquidity in the same way we do on Ethereum.

We propose splitting the staking 1:1 between Ethereum and Polygon to incentivize the liquidity bootstrap. We expect that this will shift about half of the liquidity to Polygon to naturally even out the rewards distribution. Rewards on Polygon will be distributed starting February 2021. Monthly rewards don’t change and follow the current allocation plan.

The liquidity pool has already been created on QuickSwap with initial bootstrap liquidity and the staking app has been updated to support staking on Polygon exactly the same as on Ethereum.

Links: Staking app: https://stake.myswarm.app Liquidity pool: https://quickswap.exchange/#/add/ETH/0x3505F494c3f0fed0B594E01Fa41Dd3967645ca39 Pair analytics: https://info.quickswap.exchange/#/pair/0x644ff224f291dc30cadadc6b66d5dac21c3560bf