What Is Sway Protocol (SWAY)?

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.