The SWAY token
$SWAY is Sway's token. Its supply is fixed, all of it went to the public launch on equal terms, and Sway's whole share of every fee buys SWAY on the market and burns it. Every payment inside Sway stays in USDC: brands fund campaigns, shoppers claim rebates and integrators earn fees in USDC, so using Sway never requires holding SWAY.
Supply and launch
| Name | Sway |
| Ticker | SWAY |
| Supply | 1,000,000,000, fixed. No more SWAY can be minted |
| Launch | 100% of the supply to the public launch, on equal terms for every buyer |
| Allocations | None: no presale, team, investor, airdrop or reserved pool, and nothing vests |
What funds the burn
Sway's fee on verified brand-direct rebates goes to the SWAY burn:
| Fee | Sway's share | When it is paid |
|---|---|---|
| Brand offers | 10% of the rebate (1,000 basis points), paid by the brand on top of the rebate | When the shopper claims, after the lock |
Sway's 20% of each affiliate commission joins it once cashback runs.
The program pays Sway's share into the Sway treasury in the same claim transaction that pays the shopper and the integrator (see Fees and settlement).
How the burn works
The treasury's USDC buys SWAY on the market, and the SWAY it buys is burned. Sway's worker runs the buyback once the treasury holds at least 10 USDC, at most once an hour:
- One transaction, signed by the buyback key recorded in the program's configuration, opens with
buyback_begin, which moves the treasury's USDC to that key's USDC account. Next come a Jupiter route that swaps it for SWAY, quoted with 1% slippage, and a burn of the quote's minimum output. The transaction closes withbuyback_finish. buyback_finishmust be the transaction's last instruction. It checks, in the same slot, that the swap spent all of that USDC and that the SWAY supply fell by at least the quoted minimum. If either check fails, the whole transaction fails and the USDC stays in the treasury.- Any SWAY received above that minimum is burned in the next transaction.
Treasury USDC has no other way out: buyback_begin is the only instruction that takes USDC from the treasury. Burned SWAY leaves the supply for good, so the supply only goes down.
GET https://api.swayoffers.com/v1/protocol/buyback returns the SWAY mint, the treasury's USDC balance, and the totals of USDC spent and SWAY burned, read from finalized transactions.
The amount burned follows verified sales. Each verified brand-offer sale adds 10% of its rebate to the burn. For example:
| Sale | Sway's share | Goes to the burn |
|---|---|---|
| A brand offer with a 15 USDC rebate | 10% of 15 USDC | 1.50 USDC of SWAY |
The figures above are examples.
Where SWAY fits
| Who | Pays or receives | SWAY |
|---|---|---|
| Brand | Pays the rebate plus 15%, in USDC | Its 10% Sway fee becomes SWAY bought and burned |
| Shopper | Receives the full rebate, in USDC | — |
| Agent developer | Receives 5% of the rebate, in USDC | — |
| Sway | Receives 10% of the rebate | All of it buys and burns SWAY |