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[SPONSORED REVIEW] SWAPPIT - a high-efficient crypto currency loan service provider

Đăng bởi: Christina  - 11/09/2018 - 2986 view
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*Disclaimer: This is sponsored article. All the information is for reference only. Always DYOR “Do you own research” before making any investment decision. Cryptocurrency investment is a venture capital investment. You should only invest with your idle capital

It’s the crypto backed loan platform, allowing users with the Bitcoin collateral to 4.8%. There are a lot other platforms out there, but how Swappit stands out is that their interest is much much lower, and they don’t mash users and provide trading algorithm, to allow for such low rates.

Let’s see whether they can be the most affordable crypto-backed loans platform in the market, as they claimed.

General information:




As of now, they don’t have any channel yet, so what we should do is to stay tuned.

What is the problem?

The current competition on the market has treated cryptocurrencies simply as collateral, requiring third party lenders thus introducing unnecessary risk premiums causing their interest rates to be as high as 18%.

What can Swappit solve?

As a crypto-backed loan project, they aim to provide the most efficient solutions with the lowest interest rate on the market (4.80% APR) - The efficient solution to crypto-backed loans.

How can they do it?

They do it by allowing users to leverage their cryptocurrency assets to attain loans in their local currency. Through the use of derivatives, Swappit creates synthetic borrowing rather than relying on lenders. This innovative method affords the users the lowest possible rates while creating the most scalable solution.

As mentioned, Swappit system can make the current loan using Cryptocurrency to guarantee. In fact there was a similar project call Salt, with the loan system. Cryptocurrency with Derivative Systems.

What is it?

Derivative is a financial contract in various forms. It can be used to manage risk.

Example: I bought a phone which was $300, I paid forward $100 and will pay the rest in 4 months. 4 months later, the price of the phone is $350, but I signed the bill so I have to pay only $200 rather than $250. Other types of currency risk include currency fluctuations. And this instrument can also be traded.

So Swappit?

Swappit is a platform that allows users to borrow general currency such as dollars. By using digital money, such as Bitcoin, you can get a guarantee of only 4.8% per annum and a certain amount of fees.

Problem holder in Cryptocurrency

It’s normal in the industry, cryptocurrency, many users will hold dollars for speculation. In fact, in the financial system, having a Hold user is not a good thing because the money is not being circulated to add value to the system. Swappit’s instrument system will allow us to leverage the value several times depending on the amount of money we borrow. And the instrument can also be sold to investors as well. Create value and liquidity cryptocurrency.

Fees and interest

Swappit’s fees will be 3% and will be deducted from the value of money on the expiration date. The interest rate is 0.3% per month and can be paid as SWAP token or other currencies.

For example, we have a $1000 loan contract for 1 year with Bitcoin 1 BTC.

We will pay interest on a $48 SWP Token if the SWAP Token is worth $1 and a further 0.03 BTC is charged.

SWAP contract

Swappit has an interface on both Android and IOS that allows users to choose a contract model, with the following steps.

  1. Choose the form of contract
  2. Choose the payment type
  3. Confirm contract details
  4. Get paid

Blockchain and Smart Contract

The Swappit system uses the Blockchain of Ethereum as the main network and uses the Smart Contract to transfer the contract. The user can conceal part of the contract using their private key.

All available Token in the system is 1,000,000.00.0 SWAP by 50% or 500,000,000 SWAP is sold in the ICO with a Hardcap of $50,000,000.

Token metrics

The Swappit system is used for the various parts of the image, as the Token is sold for 50% of the system. I think they go for both referral and airdrop campaign, 10% for Marketing and Promotional material will be suitable if the Airdrop + Referral is not much, because original hype is important. Because of the unique feature of this ICO, I think 50% for trading platform and other ratios would make sense.


The Swappit Roadmap is detailed below.

The token sale will begin in Q4 2018 and the platform will be launched in Q1 2019. 2year roadmap is understandable for an ICO project, and they are on their way now. As of now, they keep their progress as private sale. The lock-up time for investors is rather long, with 1-year lock-up. They need the percentage of 19,5% for emergency liquidity reserve, it’s appropriate for a crypto-backed loan project.

Team and Advisor

Most of Swappit’s team has experience in finance and banking. Furthermore, they are related to investment field also. CEO Rulin Zhao is the founder of Lion Capital, which might be the initiatives for forming Swappit because of its similar target, he experienced as Proprietary Trader at Genesis Proprietary Trading Ltd also, and Hai Ting Yan, Advisor, was formerly head of Bank of China in Europe. They also have Jichao (Michael) Li, CTO, BA. University of Virginia, He has time working in Google, Senior Software Engineer and Tech Lead.

We have also Xinyuan (Victor) Chen, CSO, Shenzhen WD Investment Management, Investment Manager, and a Founder of Shenzhen Qianhai Dongkexun Supply Chain Co., Ltd

CFO Austin Cheng was a CFA Charterholder, CIO at Chicago Investment Management

Chen-Shao (Steven) Hou, MS. Cornell University background, is Swappit’s Head of Business Development. Deloitte and Touché, Digital Strategy Consultant is some names that makes him related to investment.

Po-Yu Kung, also worked at Lion Capital as COO, and now also COO of Swappit, experiencing Associate at Company PwC, Senior Associate

Company Shanghai Prosperity Holdings

  • Participated in all stages of equity, debt and mergers & acquisitions transactions, including the development of bidding offer letters, financial models, due diligence sessions..

There are 3 general points from team: firstly, some members are from Lion Capital, the capital of CEO Rulin’s foundation; secondly, all are experiencing in investment before, even legal advisor Dr. Jason Corbett has experienced as CIO from Silver Accord Advisory; and thirdly, they used to be a lead for some organizations.

There is only one point that should be considered more, is about tech team, we know the CTO is from Google, but the team should have more coders. The team has all convergent point, which is good for mutual development because all have experience in investment, easy to understand the project goal, which is one of the best advisory for the technology division to make a right product that works. However, for some specific position such as marketing, they may need a more specialized person in this field, say, each division should have more specialization.

In my view, I think the team has potential for the product they are creating. However, whether the product is able to widely used is still a question, if the code staff are lacked.

You can watch a short interview from CEO Rulin via this video AMBLE TV-CEO RULIN ZHAO, SWAPPIT


Loan system cryptocurrency: it is very interesting because in the long term, this kind of instrument will help to create more value for the financial sector. However, this system has a very famous project competitor: Salt has made out before, which Swappit has reduced the interest rate and other functions to look interesting. One thing that seems worrying is that even though the Team and Advisor are experiencing financing, having a hardcap of $50 million is a very high figure today. And team should have more coders. For those who are interested can visit the main page. Swappit is the crypto-backed lending platform that eliminates the need for a lender to borrower match. Users for the first time can get loans in their local currency, without paying the steep interest rates charged by third party lenders. Instead of relying on lenders, Swappit creates synthetic borrowing through the derivatives market and enable users to get money in your pocket in as little as one business day.

The idea is to solve, can solve, but it's not large, cryptocurrency market generally focus on ICOs which have use cases. Swappit can profit but also depends on market condition. That was quick glance though, but the team is qualified with the right expertise in loan, they see problems, and find a way that users can benefit. Swappit seems legit and might be a good project, but doesn’t really that good for investment point of view compare to Nexo (*) and Salt (**)

We should stay tuned and see.


Now Swappit has a campaign for users who join, let’s check it:

In this Swappit Event, they will randomly pick 4 entries, who joined their telegram + follow their twitter to give away 0.1 / 0.2 / 0.3 / 0.4 ETH

Recently, Swappit team also spreads the hype by attending some events, they just attended 2018 Blockchain Technology Summit was Successfully Held in Shanghai, Sydney at the Crypto Investment and ICO Summit 2018 for re-shaping the global financial service from Sydney, Australia. and others. We can see that they care for their hype.

(*) Nexo - The World’s First Instant Crypto Overdrafts. Powered by Credissimo - A Leading FinTech Group serving millions of people across Europe for over 10 years.

(**) The SALT Lending Platform allows holders of blockchain assets to leverage their holdings as collateral for cash loans. SALT is the first asset-backed lending platform to give blockchain asset holders access to liquidity without them having to sell their tokens.

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