The $SWA token

$SWA is the protocol token. It is the only asset you need to hold in order to receive airdropped positions, and it is the denomination in which redemptions are paid out. Everything the protocol does is keyed to $SWA balances.

Contract

Always verify the contract address against this page and the project's official social accounts before trading. Token impersonation is the single most common way people lose money in a launch, and no amount of protocol design prevents it.

Launch

$SWA was launched through flap.sh, a launchpad that handles token creation, the initial liquidity pool, and the bonding curve up to the point of listing. Launching through a launchpad rather than deploying independently means the initial distribution is open — there is no allowlist, no private round, and no team allocation vesting behind the public.

Practical consequences of the launchpad model worth understanding:

• Liquidity is pooled, not book-based. Price is set by an automated market maker against the paired asset, so large orders move the price more than they would on an order book.
• Slippage matters. Because of the 3% transfer tax, a trade submitted with default slippage tolerance may fail. Set slippage above the tax rate.
• Early volume is thin. Fee accrual, and therefore stock acquisition, scales with volume. Early on the pool grows slowly.

Supply and distribution

Supply figures, the liquidity position, and any lock status are published on the launchpad listing and are verifiable onchain. Rather than restate them here — where they could drift out of date — this page links to the source of truth.

How supply behaves

$SWA supply is not static in the way a fixed-cap token is. Two mechanics move it:

Redemption returns supply

When a holder redeems an airdropped position rather than keeping it, they receive $SWA in exchange. That $SWA comes out of protocol-held reserves, which increases circulating supply. A high redemption rate therefore means more circulating supply and more sell-side pressure — but it also means the protocol retains the equity position and the dividend stream attached to it.

Holding removes supply from circulation

Conversely, holders who keep their positions leave the corresponding $SWA in reserve. The system self-balances: when positions are attractive to hold, circulating supply contracts; when holders would rather have liquid tokens, it expands. Neither direction is strictly better for the protocol, which is the point — the protocol earns either way.

The transfer tax

Every buy and every sell is taxed at 3%. The tax is applied at the contract level, so it applies regardless of which interface or aggregator routes the trade. Wallet-to-wallet transfers between addresses you control are not trades and are not the target of the tax; consult the contract for the exact exemption list. Full detail in Tax.

What $SWA is not

• It is not equity. Holding $SWA does not make you a shareholder of any company referenced in the pool, and confers no voting rights, no claim on corporate assets, and no registered-holder status.
• It is not a fund unit. There is no NAV guarantee, no redemption right against a fund manager, and no regulated custodian standing behind it.
• It is not yield-bearing by itself. Holding the token does not accrue interest. Returns come from the positions distributed to you and what you choose to do with them.

The distinction matters legally and practically. Read Risks for the full framing.