Swytch Announces Integration of the Bancor Protocol

AUSTIN, Texas–(BUSINESS WIRE)–Swytch, a blockchain-based solution for accelerating a sustainable and
equitable energy future, today announced that it is joining the Bancor
Network, a decentralized liquidity network, in order to enable
continuous liquidity for the Swytch token. The integration of the Bancor
Protocol will give holders of the Swytch token the ability to convert
Swytch to any token on the Bancor Network.

“Bancor is excited to welcome Swytch onto the Bancor Network,” said
Galia Benartzi, Co-Founder and Head of Business Development at Bancor.
“We share Swytch’s vision for a more sustainable future powered by
blockchain innovations and we look forward to seeing Swytch play a role
in the evolution of clean energy production.”

Swytch uses the blockchain to bring together data, networks, and
incentives for the world to adopt renewable energy at scale. The Swytch
solution includes a Proof of Production protocol, data aggregation
layer, and an incentive token designed to accelerate and scale the
production of renewable energy.

“The Bancor Protocol provides much-needed liquidity for our incentive
token,” said Evan Caron, Swytch Co-Founder and Managing Director.
“Cities and other governments can now leverage Swytch to reward locally
responsible behavior that benefits our entire planet.”

Several cities in South Korea have already forged partnerships with
Swytch and additional Asian and European agreements are under
consideration.

Upon completion of their Token Sale, Swytch will activate a Relay Token
with 2% of its circulating token supply within a week of distributing
Swytch tokens. Users will be able to purchase and sell Swytch tokens
directly from any Web3 wallet at a formulaically calculated price.

Swytch will be releasing additional details about the integration of the
Bancor Protocol in the coming weeks.

About Bancor:

Bancor Protocol is a standard for the creation of Smart Tokens™,
cryptocurrencies with built-in convertibility directly through their
smart contracts. Bancor utilizes an innovative token “Connector” method
to enable formulaic price calculation and continuous liquidity for all
compliant tokens, without needing to match two parties in an exchange.
Smart Tokens interconnect to form token liquidity networks, allowing
user-generated cryptocurrencies to thrive. For more information, visit
the website
and read the Bancor
Protocol White paper.

About Swytch:

Swytch is a blockchain solution for accelerating a sustainable and
equitable energy future. The Swytch platform includes token-based
incentives, open-source data aggregation, and unique blockchain
protocols to secure and verify energy production data.

Swytch fills the gaps in today’s marketplace for verified renewable
production and data sharing. By utilizing an ERC20 compliant utility
token, Swytch will incentivize investments in sustainable assets. In
addition, the data aggregation and protocol layers will also
revolutionize the way information is collected and shared in the
renewable energy market. Applications in infrastructure include
grid-scale, residential, and storage systems across all sources of
renewable energy (wind, solar, hydro, etc.).

From large-scale industrial power infrastructure to small residential
installations, Swytch Tokens can be generated through the production of
renewable energy. Swytch and its partners are building out the
technologies and community necessary for ensuring data and tokens can be
freely exchanged within the network. The Swytch platform was created by
the Token Commons Foundation, a non-profit foundation based in Zug,
Switzerland.

Contacts

Porter Novelli
Greg Jawski, 212-801-8248
[email protected]