Swipe SXP
the card token that grew a chain
🎭 set down the debit card it was born with and built a whole blockchain to stand on instead
💬 “I started life clipped to a Visa card, riding on other people's chains. One day I shed the plastic, grew a chain of my own, and handed the keys to 53 elected guardians. Same ticker, new body.”
- 2018: Swipe launches as a crypto debit card + wallet; SXP is its in-app token, living on other chains.
- July 2020: Binance acquires Swipe (terms undisclosed); Swipe says it keeps running independently.
- May 2021: the founder burns his own ~50M SXP (about $200M then), cutting total supply ~17.5%.
- March 28, 2022: rebrand complete, Solar mainnet goes live, its own Layer-1 chain run by 53 block producers.
📖 The Story
2018. Joselito Lizarondo, an early Bitcoin buyer, founded Swipe: a platform where you loaded crypto, tapped a Visa debit card, and spent it like cash in real time. The token behind it was SXP, and holding more of it unlocked better card tiers, cashback, and perks. At this stage SXP had no home of its own. It rode on other chains, an ERC-20 on Ethereum and a BEP-20 on BNB Chain at the same time.
July 2020. Binance announced it had acquired Swipe. The terms were never made public, and Swipe said it would keep operating on its own. It was a quiet but serious vote of confidence in a small payments project.
2020 to 2021. The founder did something unusual: he set fire to his own coins. First 10 million SXP in 2020, then in May 2021 his remaining stash of roughly 50 million, worth about $200 million at the time. Those burns trimmed the total supply by around 17.5%. It was a loud way of saying he was not in it to quietly cash out.
December 2021 to March 2022. Then came the metamorphosis. The team announced Solar, an energy-light blockchain of the project's own, and on March 28, 2022 the Solar mainnet went live. SXP holders swapped their old tokens for fresh ones on the new chain, one for one, with no surprise inflation. The card token had finally grown a body to stand on.
📊 Stats
These bands are our own beginner-friendly editorial read, not market data.
🧩 How it works
Today SXP runs its own chain, Solar, which uses Delegated Proof-of-Stake (DPoS). Instead of every computer racing to validate, coin holders vote for 53 block producers, and those 53 take turns confirming transactions. Fewer machines doing the work means it runs light on energy. SXP (now nicknamed Solar Power) pays the network fees, and is used for staking and for governance votes.
🌗 Light & Shadow
- It actually shipped a hard pivot: from a token with no chain to a working Layer-1, with a clean one-for-one swap and no surprise inflation
- The DPoS design is light on energy, since only 53 producers confirm blocks instead of a huge mining race
- Real payments roots (the original Swipe Visa card let people spend crypto in everyday shops)
- Only 53 elected producers run the chain, so power is concentrated in a small group, far from the wide-open model of proof-of-work coins
- No fixed supply cap. Unlike the old 100-million-coin plan, Solar's SXP is uncapped, so scarcity is not a selling point
- Two names and two eras (Swipe, then Solar) can confuse newcomers, and the project is small next to the chains it competes with
🧬 Evolution lineage
SXP is not a fork or sibling of another coin. Its story is an internal metamorphosis: it began as a token borrowing other chains, then grew into a Layer-1 of its own under a new name. The 53-producer DPoS shape echoes ARK-style chains, though that code link is not confirmed here.
🧭 Meet other friends
❓ FAQ
- What is Swipe (SXP)?
- SXP started in 2018 as the token of Swipe, a platform with a crypto Visa debit card and a multi-asset wallet. In 2022 the project rebranded to Solar and SXP became the native coin of its own Layer-1 blockchain, used for fees, staking, and governance.
- Why are there two names, Swipe and Solar?
- They are two stages of the same project. Swipe was the early card-and-wallet era, when SXP was just a token living on other chains. In December 2021 a rebrand to Solar was announced, and the Solar mainnet went live on March 28, 2022. The ticker stayed SXP the whole time.
- What did the founder do with his own SXP?
- Founder Joselito Lizarondo burned his own coins to show commitment. He burned 10 million SXP in 2020, then in May 2021 he burned his remaining roughly 50 million (worth about $200 million at the time), cutting the total supply by around 17.5%.
- How many SXP coins are there?
- After the move to Solar, the old 100-million-cap plan no longer applies. CoinGecko shows roughly 673 million SXP in circulation with no fixed maximum supply, so it is uncapped by design. (Figures vary a little between data sites.)
⚠️ Not investment advice. All figures are for information only