Swim Introduces Otter Tots NFT Collection
Swim Protocol, the Seamless Multi-Chain Liquidity Protocol for native assets, introduces its Otter Tots NFT Collection.
Swim Protocol is preparing a revolutionary IDO, combining DeFi with the NFT world, where all community members will have an equal footing to participate, leading to a fairer distribution of tokens.
Introducing Swim City
Located in a multi-chain metropolis where assets travel seamlessly across chains, 10,000 Otter Tots have emerged from the most liquid waters to lead the way to a token paradise.
But what does this have to do with our IDO?
Each Otter Tot will be physically backed by xSWIM (staked $SWIM); which can be redeemed for $SWIM tokens.
All the Otter Tots will be redeemable for the backed xSWIM tokens at any time by burning the NFT on its platform. Redeeming the Otter removes it from the circulating supply, meaning that the Otters will be a deflationary collection.
Each of the 10,000 Otter Tots will provide yield enhancements and other benefits to holders and always be backed and physically redeemable anytime for xSWIM.
This NFT collection will be closely tied to its protocol. On top of the otterly cute art that we have worked so hard on, we have an exciting roadmap once we finish our initial mint.
This will include but not be limited to:
- Redeemability of our Otters so you can burn the NFT and claim the xSWIM it’s backed by
- SWIM emissions: not only will the Otter be backed by xSWIM, but you will receive emissions every day just by holding your Otter in your wallet
- Emission boosts raffles every week, drastically increasing the SWIM emissions for various Otters.
- Royalties from trading will go into Swim Waterfall, a smart contract that takes royalties and swaps them for SWIM tokens (as well as governance fees from liquidity pools), which means over time, the backed xSWIM will be worth more and more SWIM
- Secondary market listing of our Otters on the most liquid marketplaces
- Future collaborations with other NFT projects and DeFi protocols to add exciting utility to your Otter
The IDO minting date and the mint price is TBA.
About Swim
Swim provides a simple way to transfer tokens across chains via multi-token liquidity pools and Solana’s Wormhole. No more delays, centralized bridges, or wrapped assets. Swim’s goal is to provide the tools necessary for users to swap from native assets on one chain to native assets on another and reduce the community’s reliance on current bridges and centralized exchanges.
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