Sway Protocol introduces a web3 proxy for social capital, helping NFT projects and individual wallets establish trust, reputation and goodwill through staking and rewards distribution.
# How Does It Work?
Sway Protocol is a decentralized protocol that enables users to deploy proxy staking pools for their NFT assets. Other participants can stake tokens in these pools in order to earn rewards based on NFT sales and royalties, and to establish the social capital of the NFT asset holder. This is similar to how traditional social media platforms use the number of likes or followers to establish the value of an influencer's social capital, but it is adapted for the web3 and decentralized finance (DeFi) ecosystem.
A proxy pool is a staking pool on Sway Protocol that is created by an individual or a project and is paired with their wallet holding NFTs. Other users can stake tokens in the proxy pool to earn rewards based on NFT revenue and royalties.
How to Buy SWAY on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing SWAY. Some reputable platforms include MEXC、KuCoin、BingX, and others.
Step 2: Register an Account
Here, we'll register an account on the KuCoin(registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing SWAY.
Step 5: Purchase SWAY
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of SWAY you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy SWAY.
Step 6: Store Your SWAY
After purchasing, you can choose to store your SWAY in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and SWAY assets, be sure to use a strong password and enable two-factor authentication.
SWAY Price:Sway Protocol introduces a social capital web3 proxy that helps NFT projects and individual wallets build trust, reputation, and goodwill through staking and reward distribution.The price fluctuates daily, you can go to the exchange: KuCoin to check the price.
Recommended Similar Coins: GSE、DILI