Data movement Swash closes public sale at $12M, raising $19M in total

Data monetization solution Swash has successfully raised $12.1 million from its initial DEX offering (IDO) that took place over the weekend. The team previously raised $7 million from an oversubscribed private round, totaling the full amount raised to $19 million.

The much-anticipated IDO saw over 45,000 people register for whitelisting. The IDO started several days later at 12:01 am on Oct. 29 and closed at 11:59 on Oct. 30 and was the final stage of Swash’s fundraising activities ahead of launching the native ecosystem utility and governance token, SWASH. The IDO, much like the private round that closed at $7 million several weeks ago, was oversubscribed and met with unprecedented interest.

SWASH builds upon four core principles: incentivize, transact, multiply and govern. It will be an integral part of the Swash universe, rewarding Data Union members for the aggregated value of their data while providing the opportunity to multiply those rewards through staking, redeeming for products, making donations and more.

People can share their data to earn while retaining their privacy, businesses are able to access high-quality zero-party data in a sustainable and compliant way and developers can easily set up and build systems within a collaborative development framework.

The SWASH token will power all transactions that take place in the Swash universe while fuelling the products and services built to advance adoption. Swash has a live product and active user base with around 90,000 users at the time of writing. The browser application allows people to claim control and monetize their data, setting the tone for a range of other solutions to be built, including a CMI platform for businesses (sIntelligence), an environment for builders (sApps) and computational infrastructure for data scientists (sCompute).

Immediately after the auction was settled and the clearing price determined, SWASH was listed on KuCoin, Gate.io, MEXC, Uniswap and Honeyswap. SWASH holders can also put their tokens to work on native and Uniswap v3 LP pools and also in trading competitions hosted by KuCoin and MEXC.

Key stats from the Swash public sale:

Public sale: $12.1 million
Auction initial price: $0.09

Final clearing price: $0.24

Number of unique bidders: 2426

Number of winners: 1429

Tokens sold: 50 million SWASH

24h volume post IDO: over $100 million

24h Avg. price post IDO: $0.7

Other upcoming activities for the project include the release of the brand new version of the Swash app complete with a new referral program and Data for Good feature, more media features, events and research, deep dives into Swash’s First Wave Solutions and an introduction to the advisers and partners in the Swash network.

In the long term, the Swash ecosystem roadmap is heavily focused on development, partnerships and market expansion. The technical team has already begun development for the sIntelligence platform — a competitive and market intelligence web-based platform — catapulting Swash into the Surf stage of the roadmap.

Along with sIntelligence development, Surf will also bring:

Continued user growth for the Swash app
Integrating the Data for Good feature technically and through partnerships with social impact global organizations
Expanded browser integrations and web store publications
Data buyer outreach through aggregator and marketplace integrations
Develop the Data at Rest and Integrator layers to manage collected data before building the Query and Search capabilities
Launch the first version of Swash smart contracts to enable equal revenue distribution between Swash members

To learn more about Swash, visit the website, follow the project on Twitter, Telegram and Reddit, and join the Swash community channel and mailing list. If you want to start earning from the value of your data, the Swash app is available to install on all major browsers today.

Contact:

Chloe Diamond

Chief marketing officer

Swash: www.swashapp.io

chloe@swashapp.io

Telegram: @chloe_diamond

Twitter: @chloe__diamond

About Swash

Swash is an ecosystem of tools and services that enable people, businesses and developers to unlock the latent value of data by pooling, securely sharing and monetizing its value.

People share their data to earn while retaining their privacy. Businesses access high-quality zero-party data in a sustainable and compliant way. Developers set up and build systems within a collaborative development framework with ease.

Swash is reimagining data ownership by enabling all actors of the data economy to earn, access, build and collaborate in a liquid digital ecosystem for data.