Frequently Asked Questions
How is the SWAN ICO set up?
ICO will be held completely on-chain, on Solana. The ICO begins on 10th of January 2025 and ends on the 13th. There is a maximum raise cap of 5,000 SOL. The SWAN team has set up a Solana program that will facilitate the ICO. The SWAN team will also provide an interface through which investors can participate in the ICO. The details regarding the program and interface will be communicated at or near the beginning of the ICO.
To participate in the ICO, investors will need a Solana wallet (we recommend Phantom, Backpack, or Solflare), enough SOL to cover their investment plus network fees, and a stable internet connection from an eligible jurisdiction. Please refer to the whitepaper for details regarding ineligible jurisdictions. No KYC is required. If you are using a hardware wallet, please be aware of the recent blockhash expiry times in signatures on Solana.
How does the trading of SWAN begin?
From the 16th of January onwards, all participants can claim tokens from the Solana program and trade or use them however they like.
The SWAN team also plans to supply initial liquidity to major DEXes and other partner venues. Swan Team is also working relentlessly to get SWAN listed on certain exchanges, but we can not promise or disclose any details regarding this at the time of writing (January 5th, 2025).
How does a MiCA-regulated meme coin differ from regular meme coins?
SWAN is the first meme coin to meet MiCA's comprehensive requirements, prioritizing transparency and investor protection. This positions the token as a credible and accessible option for exchanges operating under EU regulatory standards.
Some of the key advantages of compliant meme coins over non-compliant ones under MiCA are:
- Investors have a claim on the offerror should the whitepaper be misleading, the offeror not acting in the best interests of investors, or in case of a so-called "rugpull"
- The SWAN team must disclose potential conflicts of interests
- Exchanges offering services to EU citizens must prioritise SWAN while non-compliant meme coins are not eligible for listings
Does MiCA give me as an investor any protection?
Yes. Refer to Articles 5, 6, and 15 of MiCA for details.
Protections stemming from MiCA are primarily related to the issuance and the activities of the offerror, in addition to the offer of SWAN on exchanges. It also provides certain legally enforceable transparency advantages over non-compliant meme coins.
The SWAN team, however, does not and cannot have control over the secondary market prices of SWAN nor potential token volatility. Refer to document number ESMA35-1872330276-1971 from the European Securities and Markets Authority for details on highlighted risks (e.g. "prices can … rise quickly over short periods").
What exchanges operate under EU regulatory standards?
All exchanges operating in the EU or offering services to EU citizens are subject to MiCA. In practice, this means that exchanges need to comply with MiCA regulations when listing new tokens, such as meme coins, stablecoins, or asset reference tokens. As SWAN is the first MiCA compliant meme coin, it can be offered by exchanges operating in the EU. The SWAN team is additionally investing resources to help exchanges with their compliance efforts in regards to SWAN by, for example, assisting with exchange specific whitepaper preparation.
Can unregulated meme coins still be listed in the EU?
No. Unregulated meme coins cannot be listed in the EU after MiCA came into effect on December 30, 2024. The game has changed.
What is the token distribution and vesting?
Please refer to the whitepaper or the below charts for distribution and vesting details. All ICO funds are liquid and unlocked on January 16th, 2025.
How much can I invest and when will the tokens be distributed?
Each person is limited to a maximum investment of 250 SOL. The total raise cap is 5,000 SOL. Tokens are claimable from the Solana program and the ICO website from January 16th onwards. Please note that you must claim the tokens yourself using the same wallet you used to invest. There is no time limit to the claim.
Where will SWAN be listed?
SWAN will be initially listed on selected decentralized exchanges, with initial liquidity provided through the funds raised during the ICO. The SWAN team is also working on multiple other exchange listings to improve accessibility beyond DeFi native users.
Does SWAN have any additional utility besides good memes?
The SWAN team has planned multiple products and features to be added to the SWAN portfolio to increase token utility. The SWAN team will aim to work with the community of SWAN holders to evaluate different opportunities and maximise token utility. Some of the current non-binding ideas for additional utility include but are not limited to:
- SwanDAO: decentralization of governance, implementation of governance processes, and democratic selection of next SWAN projects.
- Breaking the Guinness World Record for the most origami swans to increase awareness
- SWAN staking: improved tokenomics for SWAN through a ve-style governance system and staking
- SwanSwag: SWAN themed merch
- SwanSwap: noob-friendly wallet and DEX
- SwanBassador program: Swan's ambassador program to increase awareness across various jurisdictions
- ...and much more!
Who are in the SWAN team? Is the team anon?
Please refer to the swan.meme website for up-to-date details on the team members involved with SWAN. For the details regarding the issuer and its management team members, please refer to the SWAN whitepaper available at https://www.ngut.eu/whitepapers/SWAN.html