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Author Topic: Decentralized Lotteries & HODL Deposits - SwiftCash [POS] [SWIFT]  (Read 3923 times)
msg768
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December 20, 2019, 12:04:30 AM
 #101

SwiftRewards 1-9 Paid:
https://steemit.com/swiftcash/@swiftcash/swiftrewards-tier-1-round-9
https://explorer.swiftcash.cc/tx/8a3b88cd07825a9bfa025ace30ea44afd677362b53c8a1766a3cd00de087c391

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December 20, 2019, 03:20:21 PM
 #102

wondering when will the 10-sat for this coin will come? though they are maintaining the 5-7 sat range, i guess it's time to move to the next level. any plans on the line that may change the current course?

Patience is key. Enjoy the low price and accumulate while it lasts Tongue
How did you make your signature? Do you know anyone who can make a good one for SwiftCash?
right now the biggest obstacle is the cheap price of tokens because they are caused by abundant tokens in the market, but it seems the team needs to take other steps to anticipate so as not to continue to decrease the price of the token swift in the market, and one of them is by trying to register swift tokens in several other markets because I see this swift token only has one market in crex24, and even then without any transaction volume that occurs.

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[            DECENTRALIZED GAMING AND NFT ECOSYSTEM            ]
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//  WEBSITE  //  WHITEPAPER  //  TELEGRAM GROUP  //  TWITTER  //  GITHUB  //  MEDIUM  //  YOUTUBE  //
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msg768
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December 21, 2019, 12:35:37 AM
 #103

wondering when will the 10-sat for this coin will come? though they are maintaining the 5-7 sat range, i guess it's time to move to the next level. any plans on the line that may change the current course?

Patience is key. Enjoy the low price and accumulate while it lasts Tongue
How did you make your signature? Do you know anyone who can make a good one for SwiftCash?
right now the biggest obstacle is the cheap price of tokens because they are caused by abundant tokens in the market, but it seems the team needs to take other steps to anticipate so as not to continue to decrease the price of the token swift in the market, and one of them is by trying to register swift tokens in several other markets because I see this swift token only has one market in crex24, and even then without any transaction volume that occurs.


We're trying to get on ATAIX. Here's the link if you wanna help by voting: https://ataix.com/voting?v=SWIFT
There will be 100K SWIFT airdrop evenly distributed among all votes.
You can cast one vote every 24h and it's completely free you just need to sign up!

Gash
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December 21, 2019, 02:01:03 PM
 #104

Having 20% of the block reward go to token holders in the form of "banking" interest is a sound idea. Too bad this reward model is not novel, and since a lot of coins already use similar approaches to rewarding bagholders, this idea is nothing new. These days people wish to be presented with radically new and unique concepts. Which makes us greedy of innovations because we are already tired of this featureless environment we live in. I suggest that u enkindle your hair to attract bystanders. People will see a flare and come to light like flies.
msg768
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December 22, 2019, 04:06:51 AM
Last edit: December 24, 2019, 12:16:04 AM by msg768
 #105

Having 20% of the block reward go to token holders in the form of "banking" interest is a sound idea. Too bad this reward model is not novel, and since a lot of coins already use similar approaches to rewarding bagholders, this idea is nothing new. These days people wish to be presented with radically new and unique concepts. Which makes us greedy of innovations because we are already tired of this featureless environment we live in. I suggest that u enkindle your hair to attract bystanders. People will see a flare and come to light like flies.

There will always be room for development and new features and ideas. What matters in my opinion is building value and building value doesn't really depend on development or features or ideas. It only depends on strong buyers, strong miners, strong holders, and strong hands. So what if almost no one wants to touch SwiftCash until it hits top 100? That's fine by me and everyone else who wants to buy as many and as cheap as possible.

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January 20, 2020, 01:55:32 AM
 #106

SwiftRewards - New Snapshot: https://explorer.swiftcash.cc/swiftrewards/1-11.min.json

msg768
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February 18, 2020, 02:43:11 AM
 #107

Happy anniversary to all swifties! We're now in an important grace period between SwiftRewards snapshots. In less than 1400 blocks, our very first annual snapshot will be taken! $BEESWIFT! 🚀

https://twitter.com/swiftcashcc/status/1229524242825220097

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February 21, 2020, 08:15:08 AM
 #108

Hello from MasterNodeCap Team,

SwiftCash wallet has been updated to the latest version (V2.2.0)

Masternodes Statistics
Check out our Masternodes statistics for SWIFT on https://masternodecap.com/coins/SWIFT

Masternodes Monitoring
Be warned by e-mail when :
  • the status of a node changes
  • your nodes get rewarded
  • an upgrade of your wallet is available

Masternodes Setup Guide
We can now follow our Masternode Setup Guide on https://masternodecap.com/guide/

   
If you have any concerns and questions or just want to chat with us, you are always welcome on our Discord server:
https://discord.gg/JEQJKaC

Happy masternoding!

MasterNodeCap - Monitoring ,Statistics,Rank and Setup Guides for Masternodes
msg768
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February 21, 2020, 11:18:22 AM
 #109

New emergency and mandatory wallet update for all of our #Masternodes aka SwiftNodes and Miners! Highly recommended that everyone else also updates! If you need help, feel free to ask us on Discord/Telegram! #Blockchain #Bitcoin #Litecoin #Dogecoin #Dash #Altcoin #Cryptocurrency #Masternode https://twitter.com/swiftcashcc/status/1230188296258506752


msg768
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February 22, 2020, 08:25:26 AM
 #110

SwiftRewards Tier 2, Round 3 paid: http://bit.ly/38Q2YiW
SwiftRewards Tier 3, Round 1 paid: http://bit.ly/2T1fJAq

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February 24, 2020, 05:03:57 AM
Last edit: February 26, 2020, 12:16:49 AM by CaVO32
 #111

SwiftRewards Tier 2, Round 3 paid: http://bit.ly/38Q2YiW
SwiftRewards Tier 3, Round 1 paid: http://bit.ly/2T1fJAq

If nothing else, SWIFT is not falling from 5 sat buy order level, is the SWIFT rewards helping in sustaining its price not to go below 5sat? what are the plans for this year that might help in increasing its value from the current level aside from the SWIFT rewards program? how about increasing the number of users by promotion?

one thing that you can increase the number of users is getting actual partnerships with merchants. even if it is not a big player, smaller shops or merchants would do. maybe, start from the local coffee shops, integrate your coin as one of the payment methods. start small and once it is doing good, you can tap other merchants and show your guinea pig. because without merchants, users will not be interested in buying your coins.
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February 24, 2020, 06:53:32 AM
 #112

SwiftRewards Tier 2, Round 3 paid: http://bit.ly/38Q2YiW
SwiftRewards Tier 3, Round 1 paid: http://bit.ly/2T1fJAq

If nothing else, SWIFT is not falling from 5 sat buy order level, is the SWIFT rewards helping in sustaining its price not to go below 5sat? what are the plans for this year that might help in increasing its value from the current level aside from the SWIFT rewards program? how about increasing the number of users by promotion?

I don't think it's SwiftRewards. It's probably the ridiculously low price and marketcap. Selling here is a bit of a suicide and that's probably why almost no one is selling. If you have any ideas about promotion that can actually work and not just give some free coins to a few people who would instadump it on the market, do share it with everyone on Discord or Telegram.

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February 25, 2020, 01:16:44 PM
 #113

SwiftRewards Tier 2, Round 3 paid: http://[Suspicious link removed]/38Q2YiW
SwiftRewards Tier 3, Round 1 paid: http://[Suspicious link removed]/2T1fJAq

If nothing else, SWIFT is not falling from 5 sat buy order level, is the SWIFT rewards helping in sustaining its price not to go below 5sat? what are the plans for this year that might help in increasing its value from the current level aside from the SWIFT rewards program? how about increasing the number of users by promotion?

I don't think it's SwiftRewards. It's probably the ridiculously low price and marketcap. Selling here is a bit of a suicide and that's probably why almost no one is selling. If you have any ideas about promotion that can actually work and not just give some free coins to a few people who would instadump it on the market, do share it with everyone on Discord or Telegram.
Good suggestion . There is no need to sell in hurry as it will be not a correct step.
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March 17, 2020, 10:33:01 AM
 #114

Imagine if #Bitcoin was giving more than half of its block rewards to people who simply HODL by locking their coins in the blockchain, kind of like traditional term deposits! That's what $SWIFT v3.0 will be doing folks. Stay tuned for the Hard Fork coming up soon! Rocket #Blockchain

https://twitter.com/swiftcashcc/status/1239843442022166529

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March 19, 2020, 08:36:21 AM
Last edit: March 25, 2020, 02:52:40 AM by msg768
 #115

HF v3.0 Snapshot
As the proposal for v3.0 HF/Reset has passed and has received the first round of funding from block 561600 to block 561604, we're going to fork at block 583K appx. the end of this month. That's when a snapshot from this chain will be taken and all addresses will be airdropped 1:1 and the community multisig address will receive the second round of funding from the budget which will be mined at block 604800 if we continue on with this chain.

New Addresses & Private Keys
The new chain will use SHA256 for addresses and private keys so your address and private keys will change. However, the new wallet will recognise old private keys and will be able to convert them into new private keys. You can use use dumpwallet in your old wallet to dump all your private keys and then use importwallet in the new wallet to import and convert them into your new wallet. New private keys will start with P while new addresses will start with S just as old addresses.

Third Party Services
Your coins on STEEM-Engine and Crex24 as well as Tipbots will automatically roll over to the new chain and you won't need to worry about them. But feel free to withdraw them to your own wallet before the snapshot if you wish to do so.

What Is Going To Change in v3.0


Draft of The New Whitepaper
A draft of the new whitepaper is available at the following link:
https://docs.google.com/document/d/1vD3p_tuZRqqzDINiTvrbYsl-nafXDHSn4TprFZxIpCo/edit

Funding The Fork/Reset
If anyone wants to help raise the funds needed for this HF/Reset by buying SWIFT OTC from our community budget, feel free to contact msg768 on Telegram or Discord.

Link: https://steemit.com/altcoin/@swiftcash/swiftcash-v3-0-hard-fork-reset-important-announcement

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March 28, 2020, 03:55:38 AM
Last edit: March 28, 2020, 10:36:02 PM by msg768
 #116

OP has been updated to reflect the new changes coming up in v3.0

SwiftCash v3.0.0
Digital Store of Value
Peer-To-Peer Cryptocurrency
Blockchain-Based & Cheat-Proof Lotteries
HODL/Term Deposits & Rewards
Decentralized Governance & Economy
Proof-Of-Stake Everything

Whitepaper: https://www.swiftcash.cc/assets/whitepaper.pdf

Introduction - Peer-To-Peer Cryptocurrency
SwiftCash is an open-source, self-funded system of decentralized governance and economy, born out of a desire to create a digital store of value and a peer-to-peer cryptocurrency for daily transactional use along with cheat-proof lotteries that can be played by anyone in the blockchain without any custodian or third-party service getting involved, as well as on-chain HODL/Term deposits. SwiftCash uses the Proof-of-Stake algorithm to reach consensus and allows up to 10% of maximum inflation to be spent on proposals that are embraced by enough stakeholders. Another 10% of maximum inflation goes directly to stakeholders who help secure the network aka Miners and Masternodes, and the rest of maximum inflation which is 80% can go to HODL/Term deposits; coins that are time locked in the blockchain between 1-12 months.

The revolutionary Proof-of-Stake algorithm offers a solution to the problem posed by the exponential increase in energy consumed by Bitcoin, and other Proof-of-Work cryptocurrencies. Proof-of-Work mining is environmentally unsustainable due to the electricity used by high-powered mining hardware and anyone can attack the network and double spend by acquiring 51% of the network’s hash power. SwiftCash utilizes the green protocol, an energy-efficient Proof-of-Stake algorithm, which can be mined on any computer, and will never require specialized mining equipment. The green protocol offers a simple solution to sustainability issues posed by Bitcoin and other Proof-of-Work cryptocurrencies, and provides a faster, and more scalable blockchain that is better suited for daily transactional use.

Mining - The superiority of Proof-of-Stake over Proof-of-Work
A lot of Proof-of-Work cryptocurrencies have come under what is known as 51% attacks, since their invention. These attacks are possible only when the exploiter can acquire more than half of the network’s hash power, often by renting this power from online businesses such as nicehash. Proof-of-Stake mining on the other hand, which is also known as “staking”, depends on the Miner’s balance rather than the Miner’s hash or computational power. Anyone with enough stake in the blockchain can find and register new blocks and be rewarded for doing so, and a 51% attack in Proof-of-Stake blockchains is going to require the attacker to acquire 51% of the network’s active stake that is online and staking.

Therefore, the more stakeholders participate in mining or staking, the more secure the network becomes, as the cost of an attack increases. This is reflected in what is known as the difficulty. With Proof-of-Work mining, the attackers can invest in a strong mining infrastructure once, and use it to attack as many Proof-of-Work blockchains as they want, whereas with Proof-of-Stake mining, also known as “staking” or “minting”, the attackers will have to invest in each blockchain individually, and each time they attack a blockchain, they also attack their own investment! Another thing that makes Proof-of-Stake mining a better solution, is saving money on energy costs and being friendly to the environment. To give an example of how extraordinary the difference is, it might be noteworthy to point out that Bitcoin mining for example, at the time of writing this, consumes more electricity a year than the whole country of Ireland! And last but not least, the revolutionary Proof-of-Stake algorithm gives the inflation to stakeholders rather than third-party miners, who may not be invested in the blockchain.

Technical Specifications
Block Time: ~10 minutes
Maximum Block Size: ~10 MB
Difficulty Adjustment Timespan: Over 24 hours
Difficulty Adjustment Interval: Every block
Mining/Staking (Hash): Keccak256
Private Keys & Addresses (Hash): SHA256
Maximum Supply: 5,000,000,000
Maximum Block Rewards: (4×2000×52560)÷(4×52560+nHeight+58300-2000)
Minimum Block Rewards: (4×200×52560)÷(4×52560+nHeight+58300-2000)
Distribution: SwiftNodes: 2%, Staking: 8%, HODL Deposits: 80%, Proposals: 10%
Masternode/SwiftNode Collateral Requirement: 50,000 SWIFT
Minimum Mining/Staking Collateral Requirement: 10,000 SWIFT
Minimum Mining/Staking Age/Depth Requirement: 24 hours or 144 confirmations
Minimum Transaction Fee: 0.001 SWIFT [100% Deflationary]
Minimum Lottery Ticket: 0.01 SWIFT [5% Deflationary]
HODL Deposit Fee: 0.1 SWIFT [100% Deflationary]
Proposal Fee: 10 SWIFT [100% Deflationary]
Budget Fee: 1 SWIFT [100% Deflationary]

Initial Distribution - Fair Launch
1:1 airdrop on all addresses of the previous blockchain - SwiftCash v2.x. Addresses with less than 1 SWIFT were excluded from the forkdrop. For initial distribution in the previous versions of SwiftCash, please refer to the previous editions of the whitepaper(s).

Decentralized Governance
SwiftCash uses a decentralized system of governance to reach consensus about the direction and scope of development, support and outreach activities. Higher stake will have higher voting power and so this way, all key decisions will ultimately be made by active stakeholders. In order to be able to vote, stakeholders need to set up and maintain a SwiftNode, also known as a Masternode. SwiftNodes require 50K SWIFT, plus a VPS, as well as a unique IPv4 address.

Our vision of governance is that proposals can even be submitted to hard fork the main chain, and if enough stakeholders want to fork, who can stand in their way?! After all, the blockchain belongs to stakeholders and therefore, it is crucial for stakeholders to continue to be actively involved in key decisions by voting yes, no or abstain to proposals. SwiftCash does not have any hard-coded address that is going to continually get paid, no matter what. Each payment from the community treasuries needs approval from stakeholders through proposals and onchain voting. This includes any payment made to developers, or anyone else involved in the community. Everyone has to go through the same process to get paid anything from the budget. Stakeholders will have the final say at the end of the day, and will hire and fire contractors as pleased.

Proposals & Budgets - Proof-of-Stake Everything
The cost for submitting a proposal is 10 SWIFT and once a proposal passes, 1 SWIFT will be required to finalize the budget in the blockchain, so that passed proposals can get paid in the next superblock. Superblocks are a few blocks, in which proposals that have passed get paid, and this happens every 4,320 blocks or appx. every month. Proposals need to be submitted and available on chain for at least 10 days before they can be finalized and get paid. Finalization happens 2 days before each superblock; therefore, the deadline for each submission is 1,728 blocks or appx. 12 days before each superblock.

Each proposal can ask for a maximum of 50% of the available monthly budget for up to 12 months. In case there are more winning proposals than the maximum available budget, proposals with more votes will be finalized and will get paid. Each proposal will need a minimum of 10% of the network in yes votes(Yeas), minus no votes(Nays), in order to pass. That means if there are 1,000 SwiftNodes, a proposal will need at least 100 Yeas vs. 0 Nays, or 150 Yeas vs. 50 Nays in case of a 20% participation rate. Therefore, the lower the participation rate, the more the required passing point. This means that in the case of 100% participation, the required passing point will be 55%, whereas in the case of only 10% participation, which is the minimum participation rate required for any proposal to pass, the required passing point will be 100%. That is to say if only 10% participate, everyone who participates must vote yes for the proposal to pass.

Blockchain-Based & Cheat-Proof Lotteries
Lottery tickets can be bought with as little as 0.01 SWIFT. Winners are picked randomly based on a future blockhash. Draws take place every 5,000 blocks - appx once a month, and each time 3 tickets win; the winning tickets can all belong to the same person, bought in just one transaction, as buying more tickets is the only thing that results in higher chances. 80% of the coins spent to buy tickets will become the jackpot and will be distributed between the winners. First winner will receive 60% of the jackpot, second winner will receive 30% of the jackpot and third winner will receive 10% of the jackpot. Buying tickets within 20 blocks before or after each draw will not enter any draw! The core wallet does not allow users to buy tickets within 40 blocks before or after each draw; twice the protocol limit. 15% of the coins spent on buying tickets will be given to SwiftCash Miners and SwiftNodes. And last but not least, 5% of the coins spent on buying tickets will burn in a deflationary fashion, just like transaction fees!

HODL/Term Deposits & Rewards
HODL deposits immitate term deposits in the traditional banking systems, however unlike traditional term deposits, HODL deposits are not lent to any bank, government, centralized authority or individual, but are rather locked in the blockchain and made unspendable for a set period of time. This action reduces the available supply in circulation for the set time and should therefore, technically, boost the value of the coins that are available for sale during that time. It also shows long-term faith in the blockchain, which can further increase the value of all coins, both in the long-term and in the short-term.

HODL rewards are paid instantly to the locked deposit and they cannot be spent until the deposit reaches maturity. The best annual rate is paid to 12-month deposits which is calculated by the block rewards during that period divided by 80% of the total supply at the time the HODL deposit is made. The annual rate for HODL deposits that lock less than 12 months is penalized 7% for each month less. If for example, the best annual rate is 50% for a 12-month deposit, it will be 46.5% for an 11-month deposit and 43% for a 10-month deposit, and so on. There is no minimum requirement for creating a HODL deposit, but HODL deposit transactions cost 0.1 SWIFT.

Block Rewards & Inflation - Digital Store of Value
Block rewards are set to be only 10 SWIFT per block up to block 2,000. This is to make the launch fair and give the community about one week to set up their wallets for staking and/or servers for SwiftNodes. From block 2,000 rewards will start with 2,000 SWIFT per block theoretically, but only 10% of this amount will be mined every block, which will be split between SwiftNodes and PoS miners, with a ratio of 1/5th to 4/5th respectively. The rest of the theoretical block rewards are set aside for HODL rewards and proposals, and will only be mined on demand. Keep in mind that in v3.x, this amount starts lower because of 58,300 added to the formula in order to account for the reset that took place at block 583,000 in the previous chain - v2.x.

Minimum block rewards are set to fall gradually to 5 SWIFT per block and stay there; the gradual curve is very slow and becomes even slower as time goes by. It will take 4 years for block rewards to halve for the first time; second halving will take an additional 8 years, third halving will take an additional 16 years, and so on. This gives us a maximum inflation of appx. 105% in the first year, 43% in the second year, and so forth. Maximum inflation however is most likely not going to occur due to unused treasuries which turn into future reserves.

Furthermore, as an example, Bitcoin has mined over 80% of its maximum supply in less than 12 years, and Litecoin has mined over 70% of its maximum supply in less than 8 years, while if we consistently use the maximum inflation, which is very unlikely by the way, it is going to take us 35 years to reach 20% of our maximum supply! That is great news for future adopters and we do this because we have a long-term goal; what we want is a decentralized cryptocurrency and economy to benefit a lot of people in the world for decades or centuries to come. The following chart depicts the annual inflation of SwiftCash within the first 22 years, with the assumption that 40% of our maximum inflation turns into future reserves. As depicted below, annual inflation in the first year would be about 63%, and would go to below 2% in the 22nd year.



SwiftCash monetary base with the assumption that maximum inflation is continuously achieved will look like below, which is very unlikely as ideally 40% should turn into future reserves. As it can be seen below, it will take us more than 1400 years to reach 5 billion coins, after which there should be more than enough fees to fund and support the blockchain.



Website & Social Media:
Website: https://swiftcash.cc
Facebook: https://www.facebook.com/swiftcashcc
Github: https://github.com/swiftcashproject
Twitter: https://twitter.com/swiftcashcc
Telegram: https://t.me/swiftcashcc
Discord: http://discord.swiftcash.cc
STEEM: https://steemit.com/@swiftcash
Reddit: https://www.reddit.com/r/swiftcashcc

Relevant Tools:
Block Explorer: https://explorer.swiftcash.cc/
Wallets(Windows, Mac, and Linux): https://swiftcash.cc/wallets.html
Web/Mobile Wallet: https://wallet.swiftcash.cc/
Coinbin: https://coinbin.swiftcash.cc
Paper Wallet: https://address.swiftcash.cc/
CoinGecko: https://www.coingecko.com/en/coins/swiftcash
CoinMarketCap: https://coinmarketcap.com/currencies/swiftcash/
MNTrend: https://mntrend.com/en/currencies/SWIFT
MasterNodeCap: https://masternodecap.com/coins/SWIFT
MNO: https://masternodes.online/currencies/SWIFT/

Exchanges:
https://steem-engine.com/?p=market&t=SWIFTP
https://crex24.com/exchange/SWIFT-BTC
https://wallet.bitshares.org/#/market/SWIFTCASH_OPEN.BTC
https://wallet.bitshares.org/#/market/SWIFTCASH_OPEN.LTC
https://wallet.bitshares.org/#/market/SWIFTCASH_OPEN.DOGE
https://wallet.bitshares.org/#/market/SWIFTCASH_OPEN.BTS


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March 30, 2020, 12:54:09 AM
 #117

SwiftCash v3.0 binaries are now available on our Github. This post has all you need to know for updating.
https://bit.ly/2QRXwoQ

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March 31, 2020, 04:11:58 PM
 #118

DeLott : Decentralized Lottery
Jackpot now available on the explorer: https://explorer.swiftcash.cc/jackpot

MNRank
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April 04, 2020, 11:05:29 PM
 #119

SwiftCash (SWIFT) has been listed on #MNRank

https://mnrank.com/coin/SWIFT/

Welcome
@swiftcashcc


MNRank.com - maternodes ranking, stats and monitoring service.
-10% for listing on https://crex24.com/     -10% for listing on https://stex.com
msg768
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April 07, 2020, 12:34:38 AM
 #120

Come play your first cheat-proof lottery for FREE on the #SwiftCash blockchain!

1. FOLLOW @swiftcashcc on Twitter
2. LIKE and RT https://twitter.com/swiftcashcc/status/1247109329213259776
3. Get a $SWIFT address from http://wallet.swiftcash.cc
3. TAG 3 friends below the above with your address
4. Join our Telegram or Discord

HURRY UP! Jackpot: 8084.8 #Bitcoin


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