Update January 16th, 2017: The Swish ICO has ended. The sale raised 16.36BTC, worth $13,500 at the sale’s close.
Swish is an automated POS app that leverages the power of mobile technology and the blockchain. Swish is a project of Mycelium, a Bitcoin wallet that successfully raised more than 5,000 BTC in their May 2016 ICO. Swish has been optimized for use by small to medium sized retail businesses, especially those in the foodservice industry. At a Swish restaurant, diners scan a pre generated QR code located at their table that takes them to a menu. From there, they can order and pay for their food, all without having to wait for service from a waiter. On the restaurant side, customer orders appear on smart phone or tablet POS systems where they are processed by staff members.
The Swish app is enabled to accept payments using all major credit and debit cards as well as cryptocurrencies such as Bitcoin.
What is the token being sold?
The SWISH token is an Ethereum based meta-token that gives holders a share in the Swish DAO. Holders of SWISH tokens can either trade their tokens for other currencies on an exchange platform or participate in voting and management of the Swish network. SWISH tokens don’t have any other role on the Swish platform.
What are the sale terms?
The ICO runs 4 weeks from December 15th, 2016 to January 15th, 2017. ICO participants will receive a stake in the Swish network proportionate to their contribution. There is a bonus for early participation.
Week One: 45% bonus
Week Two: 30% bonus
Week Three: 15% bonus
Week Four: No bonus
If the ICO fails to meet its minimum funding goal of 5,000 BTC, all funds held in escrow will be automatically returned to contributors. If the ICO is successful, SWISH tokens will be distributed to contributor’s wallets on January 25th, 2016.
What is the project status?
An android version of the Swish app is currently in beta testing and is available on google play.
Who is the team behind the project?
Mycelium is the creator and the initial service operator of Swish. The Mycelium team has largely chosen to keep their personal information private; their website includes pictures and names of members of the core development team, but no additional information. Smith + Crown analysts have been able to link some team members to real world identities, but Founder and CEO Alexander Kuzmin remains mysteriously elusive.
The Swish product website doesn’t provide any information about the Swish development team.