Written by Logan Smith

On May 24, 2022

Now on Proton Swap and Yield Farms: Snipcoins (SNIPS)

We are excited to announce that Snipcoins (SNIPS) is now available on Proton Swap! Snipcoins is a unique project built on the Proton blockchain, and we are so happy to see them take steps to introduce themselves to our community.

About Snipcoins

Snipcoins is a remarkable made-for-crypto social media experience that rewards you for engaging with other cryptocurrency enthusiasts. Users on Snipcoins.com can share “snips” of their cryptocurrency trades, their thoughts and strategies, and the latest news from their favorite projects. When you post and interact on Snipcoins.com you’ll earn points, which you can trade in for SNIPS.

Although you get rewarded in points for using Snipcoins.com, you don’t have to pay anything to get started. With a Basic (free), Lite, and Pro membership, each offering different capabilities and benefits, users can unlock the membership type that is right for them.

About the token: SNIPS

SNIPS is a utility token minted on the Proton blockchain for use in the Snipcoin ecosystem. As previously mentioned, users can trade in their points on Snipcoins.com for SNIPS. There is a maximum total supply of 100 billion SNIPS, and there are ongoing discussions regarding additional future use cases for the SNIPS token.

Snipcoins and Proton Swap

Now that Snipcoins is on Proton Swap, users can swap any of the Proton-wrapped cryptocurrencies available on Proton Swap for SNIPS. That means XPR, XUSDC, XBTC, and many other coins can be swapped back and forth for SNIPS without paying a gas fee.

Additionally, the Snipcoins team has committed 10 billion SNIPS to supplying rewards to Yield Farmers on Proton Swap. In this way, SNIPS holders can earn more SNIPS by contributing to the SNIPS/XPR liquidity pool on ProtonSwap.com/farms.

Why SNIPS chose Proton

Originally designed for the ERC-20 blockchain, the Snipcoins Team quickly recognized the need to switch to a more affordable, flexible, and easy-to-use blockchain. As they summarized with Broton BP:

“Undoubtedly, Proton’s lack of fees was the initial reason we looked at moving to its blockchain and is a significant contributor to Snipcoins.com’s overall viability. However, there are other exciting, real benefits to Snipcoins.com’s integration with Proton.”

The ability for Snipcoins to interact closely with the Proton blockchain allows them to leverage our verified identity technology to make their social media experience far richer than other contemporary social media platforms. 

We’re so glad Snipcoins chose to shift over to the Proton blockchain, and we think our community will be excited about them, too. Be sure to give them a warm Proton welcome!

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New to Proton and ready to get started? Get WebAuth on Web, Android, and iOS for free with just a few clicks. Setting up your WebAuth Wallet gives you access to NFT marketplaces, cryptocurrency swapping, staking, yield farming, decentralized lending and borrowing, and so much more – always without gas fees.

Be sure to follow us on Twitter to let us know how you’re doing, keep up to date on the latest announcements, and meet more people from the Proton community. 

Welcome to Proton, we’re glad you’re here.

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