Article Summary, Automatically Generated By AI
Sway Protocol Summary
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What is Sway Protocol (SWAY)?
: A web3 proxy for social capital, enabling NFT projects and wallets to establish trust, reputation, and goodwill through staking and rewards distribution. -
How it works:
- Decentralized protocol for deploying proxy staking pools for NFT assets.
- Participants stake tokens in pools to earn rewards based on NFT sales and royalties, establishing social capital.
- Proxy pool: a staking pool created by an individual/project, paired with their wallet holding NFTs.
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Key figures:
None mentioned. - <
Introducing Sway Protocol: Revolutionizing the Future of Decentralized Finance
Introducing Sway Protocol (SWAY): A Revolutionary DeFi Solution
Sway Protocol pioneers a web3 proxy for social capital, empowering NFT projects and individual wallets to cultivate trust, foster reputation, and accumulate goodwill through a staking mechanism and strategic rewards distribution.
The Operational Framework: A Comprehensive Overview
Sway Protocol is a decentralized protocol that empowers users to establish proxy staking pools for their NFT assets, thereby unlocking a novel avenue for generating revenue. By staking tokens in these pools, participants can earn rewards tied to NFT sales and royalties, while concurrently bolstering the social capital of the NFT asset holder. This innovative approach mirrors the manner in which traditional social media platforms leverage likes and followers to quantify an influencer’s social capital, but is specifically tailored to the web3 and decentralized finance (DeFi) ecosystem.
A proxy pool, a bespoke staking pool on Sway Protocol, is established by an individual or project, paired with a wallet containing NFTs. This unique configuration enables other users to stake tokens within the proxy pool, thereby earning rewards derived from NFT revenue and royalties.