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Swarm has implemented The Graph to make indexing of blockchain data easily attainable. You can directly query the Swarm subgraph at https://thegraph.com/explorer/subgraph/protofire/swarm-markets
We live in times where technology enables individuals to come together in swarms to express collective behavior which is self-organized, decentralized, networked and adaptive. With Swarm we aim to support these swarms in their expression of collective financial behavior.
Swarm is a blockchain platform that brings unique digitization and trading solutions to the world of traditional finance. It is the first organization in the world to offer digitized US treasury bills and Apple stock via a compliant and decentralized platform. Day to day, we work with real-world-asset owners to tokenize collateral and build trading infrastructure in a compliant way. Issuers that need compliance guarantees to build secondary markets of tokenized securities, including fixed income products, choose to partner Swarm.Swarm is a hybrid, embracing the advantages of blockchain-trading - flexibility, speed and efficiency - and pairing it with the trust and asset-range typically enjoyed by traditional exchanges. Swarm aims to integrate TradFi with DeFi so that everything becomes "Fi". For more information, visit the website.
Our mission is to enable customers to conduct transactions with blockchain-based tokens representing all asset classes easily, cost-effectively and securely, in a regulatory-safe environment, while preserving the core benefits of DeFi: peer-to-peer, self-custody, on-chain transparency, and networked liquidity.
By introducing these new tools, integrations and asset onramps, we believe we can contribute to a growth of the DeFi ecosystem by 10-100x.
Imagine a single market with assets from the traditional finance world paired with the power of DeFi applications. Trading crypto assets (BTC/ETH/DAI) with asset tokens (gold, real estate or other real world assets) and with tokenized stocks and more... For the first time ever, you can trade a market like gold/BTC in a unified market infrastructure.
Questions and Answers about using the Swarm DEX on the Polygon Network
Full Time / Remote
Swarm enables digital securities on the blockchain. After our recent successful launch of a licensed high-liquidity DeFi protocol, we are looking to expand our team with a Backend developer. The successful applicant will join a small team supporting our existing product offerings, alongside helping shape our future product direction with server based services and applications.
About the Role:
As a backend developer, you will join our engineering team and drive the definition and development of our server-based services and applications. creating innovative uses of services within a licensed environment. You will articulate and translate features into services and server based applications. You will be responsible for Building, improving, and deploying services to support our product range, as well as producing scalable systems that support 1000’s of users. Since you will be working with the rest of the engineering team and across the company, strong communication skills and ability to collaborate as part of a remote team are a must!
About You:
You are a Backend developer with an intuitive feel for how to translate processes into service. You enjoy seeing code and feature development through the full lifecycle: from requirements gathering, specification and prototyping through to deployment and ongoing iteration. You are a fast learner who will thrive in a rapidly evolving start-up with continuous delivery. Experience working with Go, AWS, PostgreSQL, Docker, CI/CD are required. Previous experience with financial data preferred. Ideal candidates are comfortable working rapidly and independently and must possess strong communication skills along with the ability to collaborate as part of a remote team.
Audits of the Swarm core smart contracts
Swarm has completed first full audits successfully with Pessimistic. Links to the audit reports can be found below.
Full Time / Remote
Swarm enables digital securities on the blockchain. We are always on the lookout for frontend developers to contribute to and drive new projects.
About the Role:
You will join a growing product development team, which is responsible for all aspects of the existing platform as well as new products in the pipeline. As a frontend developer, you will help define and develop new features and iterate existing ones, always taking into account end-user needs and product vision. You will plan, prototype, build and deploy software features in collaboration with the co-founders and backend team.
About You:
You are a React developer with an intuitive feel for what makes great software. You enjoy seeing code and feature development through the full lifecycle: from requirements gathering, specification and prototyping through to deployment and ongoing iteration. You’re a fast learner who will thrive in a rapidly evolving start-up with continuous delivery. We are looking for someone with 3+ years JavaScript (React), Typescript experience would be a plus, along with experience working with Rest APIs, Ethers, GUI libraries. Fin-tech, Payments or identity management experience preferable. An understanding of backend technologies would be beneficial, full stack capabilities are a plus. Strong communication skills and ability to collaborate as part of a remote team are a must!
Benefits:
A remote first company
Dynamic and fast growth start-up
Competitive salary
Application Process:
Submit a CV/Resume to [email protected]. If we like what we see, we will schedule a technical interview with members of our current development team and head of product, followed by an interview with our co-founders. \
A remote first company
Dynamic and fast growth start-up
Competitive salary
Application Process:
Submit a CV/Resume to [email protected]. If we like what we see, we will schedule a technical interview with members of our current development team and head of product, followed by an interview with our co-founders.
It is important for users to understand that Swarm has the ability to change the proxy implementation for most core contracts on the Swarm protocol.
This project is still in beta and we advise caution - please do not put more into our contracts than you are prepared to lose if a vulnerability is found and exploited.
We are confident in the security of our contracts and have sought third-party opinions, but since the project is new and has not received extensive scrutiny from hackers or auditing firms we can not be absolutely certain that no mistakes were overlooked.
For questions, feedback, or more information about the Crypto Custody Services, please feel free to email us at [email protected]
Swarm expanded to Polygon in order to make our platform more accessible to all types of trading profiles—especially everyday investors who are more likely to be burdened by network fees when trading at lower volumes.
Polygon network transactions incur substantially lower fees than gas fees for Ethereum transactions, but rely on the same secure infrastructure of the Ethereum blockchain for settlement.
Swarm is the first comliant decentralized exchange (DEX) available on the layer 2 solution, making it one of the cheapest and safest options for people wanting to participate in DeFi with the benefit of investor protections typical of the traditional finance industry.
All users can swap assets. All future Swarm products will support Polygon as well as Ethereum.
Polygon transactions ultimately depend on the Ethereum blockchain for final verification, so activity on the Polygon network benfefits from many of Ethereum's security measures.
Polygon is one of the largest and most successful layer 2 solutions deployed to date. TVL on Polygon has grown to over $4bn in the past year and many of the best-known crypto projects have extended support for Polygon, including Aave, OpenSea, and Decentraland.
All users on the Swarm platform can now use both Ethereum and Polygon networks. As a compliant platform, every user must verify their identity (KYC) and undergo standard compliance checks before they are permitted to buy RWAs. After initial issuance, RWA tokens are freely transferable.
A list of eligible jurisdictions can be found on our General FAQ here: https://docs.swarm.com/getting-started/faq#limitations.
A Network Selector Menu now appears in the top right corner of the Swarm Application UI (user interface) allowing users to easily switch between Ethereum and Polygon networks.
The platform indicates a user's current network and will prompt the user to switch networks if necessary.
The Network Selector Menu also contains a link to the official Polygon asset bridge. The Polygon Bridge allows for the easy transfer of assets between the Ethereum and Polygon networks.
Watch our short video on how to bridge assets: https://youtu.be/hj_my2Vww6w
The Swarm Application also includes a MATIC faucet that distributes enough MATIC to pay transaction fees for around 5 or 6 transactions. Anyone can get started with their first Polygon transactions by using the Network Selector Menu to select the Polygon network and launching the faucet to claim free MATIC from Swarm.
To get started on Polygon, you will need:
Some MATIC, the gas token on Polygon. Use our faucet (see above) and we’ll send you enough MATIC for your first few transactions for free.
Supported assets on the Polygon network. Use the official Polygon bridge embedded in the platform to bridge your Ethereum-based assets to Polygon. The ETH wallet address you have for the Ethereum network will be the same address for the Polygon network as well.
Please see the section Authorized Assets
Yes, watch out for our announcements in the coming weeks about new assets we are adding to the platform
Please refer to the latest official SMT rewards policy for full details.
In brief, rewards will be calculated and distributed based on the liquidity, trading history and SMT balance of each address per network.
This means that if you have provided liquidity using the same address on both Ethereum and Polygon networks, this will be treated as two separate addresses. Rewards will be distributed and be claimable on each respective network. To benefit from Loyalty Level bonuses, you will need to hold SMT in each address/network combination.
Full Time / Remote
Swarm enables digital securities on the blockchain. After our recent successful launch of a licensed high-liquidity DeFi protocol. We are looking to expand our team with a Blockchain developer. The successful applicant will join a small team supporting our existing product offerings, alongside helping shape our future product direction with smart contracts and blockchain applications.
About the Role:
As a blockchain developer, you will join our engineering team and develop blockchain and smart contract applications. Drive innovation in the use of DeFi protocols within a licensed environment. Articulate and translate features into blockchain protocols and smart contracts. Build, improve, and deploy smart contract applications to support our product range Be the subject matter expert on different blockchains and protocols within the company. Collaborate with the rest of the engineering team and across the company.
About You:
You are a blockchain developer **** with an intuitive feel for how blockchain can empower the business. You enjoy seeing code and feature development through the full lifecycle: from requirements gathering, specification and prototyping through to deployment and ongoing iteration. You’re a fast learner who will thrive in a rapidly evolving start-up with continuous delivery. Experience working with git, ethereum and solidity required, experience with polka dot, polygon or other blockchains a huge plus. Strong communication skills and ability to collaborate as part of a remote team are a must!
Benefits:
A remote first company
Dynamic and fast growth start-up
Competitive salary
Application Process:
Submit a CV/Resume to . If we like what we see, we will schedule a technical interview with members of our current development team and head of product, followed by an interview with our co-founders.
What is Swarm?
Swarm is a blockchain platform that brings unique tokenization and trading solutions to the world of traditional finance. Day to day, we work with real-world-asset owners to tokenize collateral and build trading infrastructure in a compliant way.
Swarm is the first organization in the world to offer tokenized US Treasury bills and public stocks that are tradable on a complient and decentralized platform.
Who is Swarm for?
Our platform opens up new opportunities for retail investors and institutional market participants, such as banks, hedge funds, broker-dealers, asset managers and alternative investment industries, such as real estate, tech secondaries, carbon and music, as well as retail investors.
Those already on-chain, from stablecoin issuers to treasury managers can also use our platform to deploy into less risky assets.
Any individual or organization who wishes to onboard to Swarm must meet our Know Your Customer (KYC) and Anti-Money Laundering (AML) standards
We can integrate blockchain with financial markets because we are designed around compliance.
Our hybrid model combines the advantages of blockchain-trading with the trust and asset-range typically enjoyed by traditional exchanges.
All investment carries risk. Swarm offers investment opportunities in traditional asset classes that benefit from deep liquidity and robust price discovery. In a high interest environment, the short term US t-bills that are available on Swarm can yield up to 4.5%, which is variable.
Swarm generates revenue through issuance and redemption fees for RWAs.
Do I need crypto to buy tokenized securities on Swarm?
Users will need to purchase security tokens using USDC on Polygon.
Can I buy these tokens with fiat?
Not yet, Swarm may release this functionality in subsequent releases.
Redemptions will be processed once requests reach a value of $100k in aggregate. This policy will be reviewed, as volume grows on the platform.
Once the redemption request has settled, USDC will be distributed. Alternatively, users can place an offer against any listed asset on Swarm, using the decentralized over-the-counter (dOTC) smart contract, which can be taken by any user on the platform.
The tokens are 100% backed by real stocks and bond ETFs bought in traditional financial markets. Underlying assets are held by institutional custodians and verified by the token trustee.
The tokenization process is monitored step-by-step by a Token-Trustee, which involves tracking the delivery of the respective underlying into the custody account. Subsequently, the Token-Trustee confirms the minting and issuance of corresponding tokens.
Tokens can be redeemed for the value of the underlying asset at any time and monthly disclosures of assets in reserve will be made publicly available. Swarm is working towards a real-time asset verification model.
Can the real underlying assets be registered in my name?
Presently we don't have a license to transfer real underlying stocks directly to token holders. The current redemption process transfers you the value of the stocks at the time of redemption, in USDC.
What are the risks of DeFi?
While decentralized finance and AMMs have been somewhat battle tested, they are very new protocol technologies. Swarm is introducing new layers that could introduce both additional risk and de-risk in certain use cases. We are taking every precaution and doing extensive audits.
Is Swarm decentralized?
Swarm makes every effort to be as trustless as possible. The core protocol is built on open and battle-tested code.
Transacting on Swarm is currently not available for US persons (as defined here) or persons that hold identities from other countries not serviced. US persons and users from non-serviced countries may connect a wallet and view their assets, but will not be able to set up a trading account.
Swarm is currently available to users resident in Argentina, Armenia, Australia, Austria, Azerbaijan, Belgium, Bermuda, Brazil, Canada (crypto only), Cayman, Chile, China, Cyprus, Czech Republic, Denmark, Estonia, Eswatini (formerly Swaziland), Finland, France, Germany, Gibraltar, Greece, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Jamaica, Japan, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Macau, Macedonia, Malaysia, Malta, Mauritius, Mexico, Netherlands, New Zealand, Norway, Peru, Poland, Portugal, Romania, Singapore, Slovakia, Slovenia, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, Ukraine, United Arab Emirates (UAE), United Kingdom (UK), and Uruguay.
What is Swarm useful for?
Firstly, to serve any market participants who value the core benefits of DeFi (self-custody, transparency, participation), but want to remain compliance confident and keep their digital assets future-proof
Secondly, on the basis of Swarm's compliant protocol layer, entirely new financial products can be launched and offered, extending DeFi pretty much to any financial asset and to integrate with financial institutions.
I do not have crypto. Where do I start?
To use Swarm you will need to have at least one of the supported assets in your connected wallet. A good place to start is with USDC, Ethereum (ETH) or Dai Stablecoin (DAI).
Why is the platform not working?
If you have trouble loading the platform, connecting your Web3 wallet ,or any other kind of loading issues, please check the security settings and tracking blockers that your browser might be using. Some of these services block necessary Javascript needed to run the Swarm platform properly.
We recommend disabling enhanced tracking protections (including any adblockers) for our web app only so that other tracking protection is unaffected for other internet browsing. No cross-site tracking, cryptominers, or any hidden software are implemented on the platform web app.
Why might my transaction be expected to fail?
If you receive a general error message that your swap is expected to fail, it may be due to:
Authorization not yet set: If you just completed Quickstart onboarding, please allow the protocol a minute or two to authorize your address on the blockchain. You will receive an email as soon as this is complete.
What are proxy contracts and atomic transactions?
Swarm uses proxy contracts to save you gas fees when transacting. Creating your proxy address adds a little gas to your first transaction but results in lower fees and a better user experience over time.
When making your first transaction via the platform, the Swarm protocol checks whether you have previously deployed a proxy contract. If you have not, the platform creates one for you, bundling this into your first transaction.
Your proxy contract is a Gnosis Safe and can be used with any Gnosis Safe Application. Proxy contracts allow complex multi-step transactions to be batched into a single, atomic one, requiring only a single verification. An atomic transaction will revert if any part of the transaction is expected to fail so you won’t be charged any gas fees for a failed transaction. This saves you money over time and improves the user experience by making transactions much simpler.
Proxy contracts also hold your wrapped assets and pool tokens, saving you the gas fees that would otherwise be charged by transferring these assets to your primary wallet address.
Note: your proxy contract is created, owned, and controlled by your connected primary wallet address. No other address can instruct your proxy in any way.
Why is there a balance in my proxy address?
Some platform transactions can result in a small percentage of your assets remaining in your proxy address. This occurs when there is a difference between the estimated amount of asset being transacted and the actual amount used when the transaction is mined.
How do I use or claim the balance in my proxy address?
When swapping or interacting with liquidity pools, the platform will automatically use any relevant balances from your proxy address before withdrawing funds from your user address. Therefore, the simplest way to minimize the balance in your proxy address is by transacting. You will always have the option to simply claim your entire proxy balance through your platform Wallet at any time. In the meantime, balances in the proxy wallet count towards rewards calculations.
Philipp Pieper (Managing Director) Timo Lehes
Contact: [email protected]
Swarm Capital GmbH Landstr. 37 9490 FL-Vaduz Liechtenstein Complaints:
If you have a complaint about our products or services, it may be submitted to Swarm via the ZenDesk help widget located on http://swarm.com. You may also notify us of your complaint by email at [email protected]
EU dispute settlement / Consumer Dispute Resolution:
The European Commission provides a platform for online dispute resolution (ODR): https://ec.europa.eu/consumers/odr
We are not willing or obliged to participate in dispute resolution procedures before a consumer arbitration board.
As a service provider we are responsible for own contents on these sides according to the general laws. We as a service provider are not obliged to monitor transmitted or stored external information or to investigate circumstances that indicate illegal activity. Obligations to remove or block the use of information under general law remain unaffected. However, liability in this regard is only possible from the moment of knowledge of a specific infringement. Upon notification of appropriate violations, we will remove this content immediately.
Our offer contains links to external websites of third parties on whose contents we have no influence. Therefore we can not assume any liability for these external contents. The content of the linked pages is always the responsibility of the respective provider or operator of the pages. The linked pages were checked for possible legal violations at the time of linking. Illegal content was not recognizable at the time of linking. However, a permanent content control of the linked pages is not reasonable without concrete evidence of a violation of law. Upon notification of violations, we will remove such links immediately.
The content and works on these pages created by the site operators are subject to Liechtenstein copyright law. The duplication, processing, distribution and any kind of exploitation outside the limits of copyright require the written consent of the respective author or creator. Downloads and copies of this site are for private, non-commercial use only. As far as the contents on this side were not created by the operator, the copyrights of third parties are considered. In particular contents of third parties are marked as such. Should you still be aware of a copyright infringement, we ask for a note. Upon notification of violations, we will remove such content immediately.
The contractual opportunities presented on this site are not authorized for sale in all countries of the world. The information published on the Internet does not constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is unlawful. Persons who are not in possession of the necessary authorizations may not make any offers or requests for offers that relate to the information published on the Internet. The information is also not directed at such persons to whom such an offer may not be made by law. The information provided does not constitute an investment recommendation or an invitation to buy or sell securities and cannot replace investment advice. Despite careful analysis, Swarm Capital GmbH assumes no responsibility for the content, timeliness, accuracy, completeness or quality of the information provided. Insofar as forward-looking statements are made in the information provided, in particular with regard to the price development of markets or securities, these are forecasts. Liability claims against Swarm Capital GmbH, which refer to material or non-material damage caused by the use or non-use of the information provided or by the use of incorrect or incomplete information, are generally excluded, unless there is evidence of wilful intent or gross negligence on the part of Swarm Capital GmbH. Swarm Capital GmbH and persons or companies associated with it may hold shares in the companies mentioned or buy and sell positions in day-to-day business, which may result in a possible conflict of interest. Stock exchange futures and derivatives involve risks that can lead to a total loss of the capital invested. A negative development cannot be ruled out despite the positive results of the past and the necessary diligence of those responsible for trading. An investment in the aforementioned asset classes (stock exchange futures / derivatives) should be selected with a view to asset diversification and should only represent a small proportion of total assets. Historical returns are no guarantee of future performance. Stock exchange transactions, in particular transactions in derivatives, involve considerable risks. As a content provider, Swarm Capital GmbH is responsible for its "own information" that it makes available for use. Swarm Capital GmbH carefully checks and constantly updates the information on its web pages. Despite this careful control, data may have changed in the meantime. Therefore, Swarm Capital GmbH does not assume any liability for the correctness, completeness and up-to-dateness of the contents of this website. Any liability of Swarm Capital GmbH, especially for possible damages or consequences resulting from the use of the contents of this website, is excluded. The same applies to links to websites of other providers (so-called "external links") and their content, which Swarm Capital GmbH provides in addition to its own content. The setting of such links is not done with competitive intent. These external links are marked as such. Swarm Capital GmbH is not responsible for the content of websites that can be accessed via such links. Swarm Capital GmbH has no influence whatsoever on the content of the linked pages and accepts no liability for the content of external links. Swarm Capital GmbH does not initiate the transmission of information and does not select or change the addressee of the transmitted information or the transmitted information itself. Furthermore, Swarm Capital GmbH does not automatically store these external links for a short period of time as a result of the linking and calling method used. The responsibility for the content of the linked pages lies exclusively with the operators of the websites accessed through the external links. Binding, warranty: All offers are subject to change and non-binding. Swarm Capital GmbH reserves the right to change, amend or delete parts of this website or the entire offer.
Business Accounts are now available on Swarm
Swarm employs institutional-grade compliance checks on all users, wallets and businesses. KYB or business verification is a mandatory requirement for financial institutions and other entities to verify the identities of their corporate clients.
By automating our know-your-business (KYB) protocol, we make the customer due diligence process more efficient.
A business account on Swarm is a compliant trading account similar in functionality to individual accounts, allowing businesses to trade without limits on Swarm.
How to set up a business account on Swarm
To initiate a business verification, a Business Representative must first fully verify their individual Swarm account to have an ‘unlimited’ trading limit.
Go to Swarm Passport to check the current status of your account and to initiate a new business account.
There is currently no limit to the number of businesses an individual can verify on Swarm. Each verified business will need to link one blockchain wallet address to use as their transacting address.
The onboarding process for businesses usually takes 1-2 business days and Swarm does not charge a fee.
Documentation
As the applicant, the Business Representative is required to upload company and beneficiary data via the Swarm platform, including details of any significant UBOs or shareholders, holding over 25% control over the business.
Business Representatives are required to submit the following documents on behalf of the legal entity:
A document confirming the legal existence of the company, such as:
certificate of incorporation/registration;
recent excerpt from a state company registry;
The provided documents must, in any event, contain the company's name, registration number, legal form (type), address, and the date of incorporation.
If the entity has several corporate layers, i.e. intermediary holding companies, the relevant documents should be provided in respect of each company.
Bank statements are usually not accepted as confirmation of UBO status. For country-specific examples of acceptable documentation, please see below.
.
For more information, contact the team on
Acceptable documents based on country:
For US-based companies, the registration number is the EIN (Employer Identification Number). If you do not have an EIN, please provide evidence that you have applied for the EIN.
For Australia-based companies, both the legal address and the principal place of business address are required; the registration number is either ACN or ARBN.
For Austria-based companies, full names of the legal representatives are required.
A solution for institutions who do not have a know-your-customer (KYC) and anti money laundering (AML) provider to offer regulatory-compliant tokenized securities and trading to their users.
Swarm’s Onboarding API allows partners to onboard users to compliant digital securities’ trading infrastructure, leveraging Swarm’s compliance.
Note: Onboarding API is intended to serve partners who do not have their own KYC provider. For partners with a KYC provider, we will soon provide a KYC Sharing API.
Via Onboarding API, partners can initialize an onboarding experience embedded in their own infrastructure. The onboarding flow leads users through an identity verification flow, allowing them to submit documents and information, and also allows tracking the status of the onboarding. Once verified, users are permissioned to interact with Swarm’s digital assets on the Polygon network.
We have two environments:
Sandbox (Mumbai): This is only needed when testing out your integration with Swarm. No real checks are performed when in the sandbox environment and all transactions are executed on the free Polygon Testnet - Mumbai.
Production (Polygon): For integrations ready to go live. In order to provide you with access to the production environment, we require that the integration is tested first.
The goal of this overview is to give you an idea of how the whole flow looks. Contact us for access to the detailed technical reference documentation.
Onboarding a new user to trade real world assets requires them to obtain two permissions, granted as non-transferable NFTs to the user’s address.
Specifically, the permissions required are as follows, and obtaining both permissions is initiated via the API.
KYC
Source of Funds
Users require both permissions to trade securities (stocks, index tokens, bonds etc…).
To get started, you first need to implement Swarm’s Onboarding WebSDK into your application.
Step 1: Contact [email protected] to get access to technical documentation (API Reference)
Step 2: Obtain testnet keys from Swarm
Step 3: Add ready-to-use Onboarding SDK and Source of Funds form to your application
Step 4: Integrate with Swarm’s endpoints and use your testnet key to initiate an onboarding session
A KYC verification flow may be initiated from a user action (clicking a “Get verified” button) or upon initial registration. The flow is fully standalone and for the best experience, it should be opened in a new window. Users may select to go through the steps on a desktop or handover to a mobile device at any point. Users may track their own progress after submitting their information.
Users are required to provide a document (such as a bank statement) to verify the source of funds for the value of transactions they intend to make, and provide responses to a set of Investor Suitability and ESG (Environmental, Social, & Governance) questions. It is recommended to provide users a form which presents the questions and collects the responses, which are subsequently relayed to Swarm via API to obtain the Source of Funds permission token.
See below for implementation ideas:
Refer to for detailed API endpoints and integration instructions.
We live in times where technology enables individuals to come together in swarms to express collective behavior, which is decentralized, self-organized, networked and adaptive. With Swarm we aim to support these swarms in their expression of collective financial behavior.
Enable customers to transact with blockchain-based tokens of any kind securely, cost-effectively, easily and at attractive prices in a future-proof environment.
Provide new and useful financial instruments: Create next generation of financial products that improve, streamline and facilitate progress in processing, managing and securing financial assets.
Customers should have free choice of counter-party and assets for transactions within the legal framework.
The Swarm platform is provided by Swarm Captial GmbH (together “Swarm”).
Swarm was founded by pioneers in the area of digital securities and from the core founding team of Swarm Network. Swarm is not affiliated to the Swarm Network.
Philipp Pieper,
Timo Lehes,
Katie Evans,
Peter Schott Ghyssaert Aceves,
Dr. Wolfgang Richter,
We are looking for talented people to join our team!
Senior Frontend Engineer
Smart Contract Engineer
Full Stack Engineer
Software Engineering Intern
See our page for more information on available positions.
Swarm Markets welcomes all qualified persons to apply regardless of race, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status. Compensation will be competitive and commensurate with experience. This is a full time role which includes health insurance and other benefits.
Please note that our community groups are somewhat public and please be careful who you speak to. We will never contact you asking for personal information or financial deposits, this should all be handled by emailing
In order to onboard on the platform we need to know about a user before using the protocol. User information and onboarding processes are managed via Passport.
Passport contains a user's personal details, verifications, trading allowances, connected addresses and other important account information.
Setting up a Passport is simple and requires users to connect a wallet, verify an Ethereum address, and verify their identity.
Setting up a Business Account? .
certificate of good standing;
memorandum/articles of incorporation/association/registration;
other similar documents.
A document enabling the identification of all the UBOs of a company, showing the names of all directors and/or representatives of the company, such as:
shareholder registry;
statement of information;
recent excerpt from a state company registry;
certificate of incumbency;
memorandum/articles of incorporation/association/registration;
trust agreement;
other similar documents.
For Estonia-based companies, the names of the directors, members of the management board, other bodies replacing the management board, are required.
For Finland-based companies, the following additional information is required: field of activity, full name, date of birth and citizenship of members of the statutory bodies and the person(s) representing the legal entity.
For Germany-based companies, names of the members of its representative body or of its legal representative board are required.
For Ireland-based companies, the following additional information is required: both the legal address and the principal place of business address, a document iterating the nature of the business, and the names of the company’s directors.
For Latvia-based companies, names of the persons authorised to represent the company are required.
For Malta-based companies, names of the company’s directors (or members of another representative body) are required.
For Mexico-based companies, the following additional information is required: a document iterating the economic activity or social activity of a business; Code of Taxpayer Registration (“RFC”); the serial number of the Advanced Electronic Signature; full names of the company’s legal representatives.
For Singapore-based companies, names of the company’s directors or partners are required.
For Sweden-based companies, names of the persons authorized to represent the company are required.
Step 5: Verify correct integration together with Swarm
Step 6: Obtain production keys and go live!
Transaction metadata should be secret from third parties (with legal exceptions), but can be proven by the involved parties.
Speed of transactions should meet business needs.
Create a "trusted" financial infrastructure that is as trustless as possible and transparent to its market participants; our users can evaluate and validate its functionality and determine where it creates trust in the system beyond our organization.
Leverage community-driven open source standards software. Its core elements will be a shared asset. We will contribute to and promote the development of open source technologies and their applications.
Community Manager
A wallet connects you to the Ethereum blockchain. Wallets enable users to easily associate and verify an Ethereum address with their Swarm account. Wallets are further used for easy viewing and transfer of asset balances, as well as interacting with smart contracts and protocols like Swarm.
It's important to understand that wallets don't have custody of users' funds. Wallets are simply a tool for managing assets held on the blockchain in a specific address. This is called self-custody. Users are responsible for their assets, private keys, passwords and any other information they have used or provided to set up a wallet. Other than the data users are required to share for identification purposes, Swarm will never request access to any other private information such as private keys or passwords.
Swarm currently supports Metamask, Coinbase Wallet, Ledger, Trezor and many other web3 compatible wallets via the WalletConnect protocol. Learn more about wallets from ethereum.org.
Linking an existing MetaMask wallet:
Enter the password for the MetaMask account you would like to use. Then choose the address within your MetaMask account that you would like to connect to the Swarm Wallet. Connect this wallet and you will be automatically directed back to the Swarm Onboarding page. \
If you need to create a new MetaMask wallet, setting one up is easy. Add Metamask either as an add-on or extension to your browser application (Chrome, Brave, Firefox or Edge are the currently supported browsers for MetaMask) or to your mobile phone. It’s available through the Metamask Website, Apple App Store or Google Play. MetaMask has a great FAQ and also more support here. Then you can complete the above steps for connecting an existing MetaMask wallet.\
Verify your ETH address ****Once you have a wallet connected, the platform will direct you to verify ownership of your ethereum address by signing a message with your wallet. This operation does not incur any network fees.
Our goal is to continuously improve the user experience on Swarm, and we know that identity verification is often a hassle. We've carefully selected our KYC partners to minimize the pain and get users up and running as quickly as possible.
Identity Verification with Sum and Substance
Sum and Substance is an established KYC vendor that provides easy identity verification via desktop or mobile. Most applications are approved in under 10 minutes, allowing you to start trading immediately.
You will be led through a straightforward process of entering personal information, uploading your Identification Documents, and a facial biometrics scan to for comparison purposes, and to protect you and your account from fraud.
Once account information is submitted, both automatic and manual checks are performed according to Anti-Money Laundering and Financing Terrorism legislation.
4. Verifying your email address
Once users have connected and verified their ETH wallet address and verified their identity, the last step in the onboarding process is to verify their email address. This is to prevent duplicate or fraudulent accounts, and will be checked against other information provided.
In most cases approval for initial limited trading is automatic and done in under 10 minutes. Unlimited trading may require extra verifications. Users should consult their Passport for specific instructions.
0x6b8808910c298239AaBF6475E99eA468F1D52A0d
0x28295039f74b04A3FF788c1Af679182cd9110b89
Deployer
0x5c573e7eE69926B79Be8283E4c421Ccca288bC06
0x5c573e7eE69926B79Be8283E4c421Ccca288bC06
Authorization
0xE4DDF30e91FD4Fa43fd69B46f232CA67db79DFCD
0xb161fb38ccCe7E70a010a60736cf579AB6cA130d
Permission Items:
0xB441417E6ff3ACf60B9F0216D8c3179913080dAa
0xCE07D5B55EE08a70A5D8786e9b6540b98fB2E740
Permission Manager:
0xE214d97ba7fF83144699737f73D271C006013d91
0x2dDe22CbF81844492b5f29a2938ab075a8224Ef5
ProtocolFee:
MaxProtocolFee:
20000000000000000
20000000000000000
MinProtocolFee:
Fee receiver:
0x1A2356D54aEEad105f203a5c51a6307Ec100494e
dOTC Manager
0x1d0D0516385D2ff6748A3b87Ba2C2cC37F287D4a
0x429737c0DdF17779803Aba8B5E6133012952B4c3
dOTC Manager Proxy
0xF8981283ac9691B7783a9086277665A962fC13f3
0xF8981283ac9691B7783a9086277665A962fC13f3
Escrow
0xB8ADaD01342D656D8f70Fe1fa55cc3FBb6965f7d
0x4bAF3fAF58ccf73C7Ca8a5391B596797c3Ea3E2E
dOTC
0x0a103eE32F4209926D8ba7e528AFf8a831Ed3daE
0x22593B8749a4e4854C449c30054bb4d896374fa1
dOTC Manager
0x0a4010B884a8E3f9Fb3611fE830a01B46fbE2073
0xB4De1A227d51C0C003CBd5321DDEa92c6cd7546f
dOTC Escrow
0x4877D1B8c028095582f4E4F273d0Ec914E15A53a
0x7dE0DA30ada33b23E66d562b9B5aa7c508F9F147
Asset helper
0x0969C4233120ea77f3F54B9FD5143c61E2CDd2eE
0x28a252D433a93dab6286A5784207Db8c2f848FAF
Offer helper
0xF61ED41749CD82767057aA39EDCEE8d797D40719
0x06d6a7BDFFAFa3c953d7B9842f7F414a6e0bEb4A
SMT Securities Staking
0x813B9bE9ef5c7bBCd89A8276Fa14dd96319411B1
dOTC offer helper
Decentralised over-the-counter trading
Swarm’s decentralized over-the-counter trading (dOTC) service enables institutions to carry out large transactions on the Blockchain.
High-volume swap activity is increasing significantly. Large volume-based trading OTC for digitized assets is costly, complex and often difficult to execute. Our dOTC service empowers institutions and retail investors to use a block-trade smart contract in place traditional OTC trading.
The peer-to-peer (P2P) contract will facilitate high-value transactions, reduce slippage and remove counterparty risk, as all users on Swarm are verified.
Despite high value trades being on the rise, to date, there has not been an institutional-grade trading tool available.
Swarm clients place a buy or sell order into the market for eligible assets, using the dOTC contract. Much like an escrow account, assets held by the smart contract can only be redeemed to a crypto wallet once all terms have been fulfilled.
The smart contract replaces the need for financial intermediaries, typically found in complex and costly OTC trading arrangements in traditional financial markets.
Sign up here at or email us: .
The release of dOTC V2 supports growing liquidity for real-world assets on-chain and beyond, making the user experience more superior and efficient.
The release consists of five new core features:
Dynamic Pricing: Offer prices can be set in reference to an external price oracle, meaning they continually move with the market and do not need updating. This represents vast savings in transaction costs as offers need to be set only once. Dynamic prices are set as a percentage to the oracle price, allowing premiums or discounts to market price.
Order matching for instant swapping: The new Swap page provides price quotes for any pair of assets with live offers in the order book, combinging the convenience of liquidity pool trading with the benefit of no slippage.
3. Offer terms and communications: Offers can now include links to terms and communication channels to enable comms between makers and takers who wish to negotiate a deal or highlight specific terms
4. KYC select: Offer makers can now require counterparties to be qualified and choose from a selection of KYC/AML service providers, including, for example, Swarm Markets. This feature provides an additional compliance layer that sits on top of open and permissionless infrastructure, to provide fully regulatory institutional trading. See for more details and technical implementation.
5. Affiliate participation: affiliates can earn rewards from embedding dOTC offers into their platform with payouts being distributed in real-time from each transaction.
This is the first crypto block-trade smart contract from a compliant entity that institutions and professional investors can use in place of traditional over-the-counter (OTC) trading, which disintermediates trading.
Our offering includes additional unique features such as:
Partial orders - dOTC supports partial or all-or-nothing type orders, configurable by the maker.
Private offers - Makers can specify the taker address that the order is intended for. Only that address can execute on the order.
Offer expiration - Makers can specify whether their offer stays live in the market indefinitely or automatically expires at a future date.
Start on the Swap page by selecting the assets you'd like to sell and the asset you would like to buy. If you cannot find the asset you're interested in, simply paste it's contract address into the token selector and we'll find it for you.
Enter an amount to see the best aggregated quote currently available. The Swap page automatically selects as many offers as required to fill your order.
Click "Preview Swap" to proceed and confirm the transaction in your connected wallet.
Limits allow placing an offer into the orderbook at above or below market price. Limits can be set at a fixed price or to float at a specific percentage relative to the market price dynamically. The dOTC platform uses price oracles to track the current market prices of assets and maintain the offer price at the appropriate level.
Limit offers feed into the Swap interface and can be taken individually or as part of a multi-offer transaction.
Dynamic priced limit offers - An example:
AAPL is currently trading at 242 USD.
You would like to place a dynamic limit offer to sell AAPL at 10% above market price.
This means that as the current market price of AAPL moves up or down, your offer price always stays 10% above it.
When AAPL is trading at 242 USD, your offer would be priced at 266.2 USD
Similary, you may wish to trade at below market price, which works in the exact same way.
Offer makers can always see the current price of their offers in the Discover / My Offer tab.
Similarly to Swaps, start by selecting the assets you would like to offer and buy. You then have a number of options to customize your offer:
Fixed vs Dynamic Pricing: Set a fixed price or a dynamic price for your offer. Dynamic prices can be set at market, up to 100% above market or up to 100% below market price. Note that dynamic offers are only available for assets where a price feed is available.
Expiration: Set how long you would like your offer to be valid for. Select from the provided options or use a calendar to set the expiration as accurately as you need.
OTC settings: Additional options for professional traders are available under the OTC settings menu.
Fees for dOTC trading are 0.25% and are paid by the Maker only in the case of an offer being successfully taken. Canceled offers are not subject to any fees.
When making an offer, the Maker enters a price and is provided a quote for the expected amount of asset they would receive if the offer is taken, less the 0.25% fee.
Discounts for paying fees in SMT will be introduced in future upgrades to the service.
dOTC simplifies one of the most complex areas of crypto OTC trading for large block trades.
dOTC enables contract-based block trades for both crypto and as well as real world assets, with verified counterparties, extending cost and time savings available to high volume traders.
The dOTC system supports the full range of digital assets encompassing the ERC20, ERC721 and ERC1155 standards.
This enables participants to trade high value NFTs and to facilitate smoother liquidation of crypto positions.
There are no minimum order sizes required on dOTC.
app.swarm.com: dOTC will be available under app.swarm.com while still independently accessible under dOTC.eth
Discover:
Explore and filter all available offers in an easy to read orderbook, where users can also find their own offers and any private offers intended just for them.
Offers can be easily viewed and managed in the My offers tab
Shareability: Sharing offers into social channels is as easy as sharing items on Amazon
When AAPL is trading at 250 USD, your offer would be priced at 275 USD
When AAPL is trading at 220 USD, your offer would be priced at 242 USD
Private offers: To restrict your offer so that it can only be taken by specific counterparties, enter their address here. Multiple addresses are supported, allowing any of the specified wallets to take part or all of your offer
Timelock: This is an optional feature, which allows the maker to commit to a price for a specific period of time in days. During the timelock period, the offer cannot be edited or cancelled.
Block order: By default, all offers are set as partial offers, meaning that they can be taken in parts. Checking the Block offer option restricts your offer to be taken as a single block, all or nothing.
SMT is a payment token based on the ERC20 protocol on the Ethereum blockchain. SMT facilitates simplified transactions and provides a discount and reward mechanism for the Swarm platform.
SMT is part of a virtuous circle of fees, payments and flowing through the Swarm Markets decentralized public good tools. It has the following utilities:
Special incentives are built into the token economy to reward liquidity providers who provide liquidity across the platform.
SMT Rewards will consist of three categories:
Liquidity Providers (Ethereum, Polygon, BASE)
RWA Holders (Polygon)
RWA Stakers (Polygon)
Regular calculations will be made to determine the TVL for each category, applying any boosts, with the weekly SMT allocated distributed proportionally to each category.
Within each category, rewards will be distributed to each wallet address proportional to their contribution to the total TVL.
Liquidity Provider rewards are distributed to wallets that make viable offers with eligible assets within the Open dOTC protocol.
Note that as of December 2, 2024, rewards will be distributed for offers made on dOTC v2 only. Offers on dOTC v1 will no longer be eligible for rewards.
Boost: Offers which include an RWA will be given a 2x boost.
Viable offers are those offers that are:
live (not cancelled, expired, or fully taken),
public (not private offers)
in-range: priced within 20% of the current market price for the asset pair. The closer the offer price to the market price, the higher the reward.
Eligible assets refers to assets for which a price feed exists, including at least the following:
Ethereum: SMT, wETH, wBTC, USDC, DAI, USDT, EUROC
Polygon: SMT, wETH, wBTC, USDC, USDC.e, DAI, WMATIC, AAPL, TSLA, TBONDS01, TBONDS13, COIN, NVDA, MSFT, MSTR, INTC, CPNG, BLK, xGOLD
The calculated value of each offer and the period of time it is considered in-range will determine the amount of reward to the offer maker, in proportion to the total TVL of the protocol.
Wallets which hold a balance of any of Swarm’s RWA assets (stocks, bonds and gold NFTs) will be counted by taking the value (in USD) of their RWA holdings and applying a 4x boost.
RWAs deposited as offers the Open dOTC protocol are also eligible.
Rewards are distributed per RWA according to the market cap of each RWA in relation to total platform TVL.
Wallets which have staked $SMT against a specific RWA will be entitled to a share of its rewards relative to all wallets staking against the same RWA.
Other Incentives
Swarm Markets will also distribute SMT to encourage activities that benefit the platform as a whole but may not fit one of the above criteria.
Governance
SMT holders an to participate in key decisions about the $SMT token, rewards policies, and the Swarm common goods services.
Up to 50% of supply:
Initially 125 million tokens (125,000,000 SMT)
After the July 2024 governance vote, this has been reduced to 49.4 million SMT
Up to 20% of supply:
Initially 50 million tokens (50,000,000 SMT)
After the July 2024 governance vote, this has been reduced to 7 million SMT
Up to 10% of supply:
Initially 25 million tokens (25,000,000 SMT)
Distribution: 1.25% distributed per quarter
The rate at which SMT tokens enter circulation will be controlled by Swarm in order to ensure stable valuation and adequate rewards across the platform’s various stages of growth.
Vesting is enforced by wrapping SMT. Tokens will appear as in your wallet until they are vested at which point they can be converted to SMT. vSMT cannot be transferred, staked, or traded. SMT can be transferred without restriction.
The vesting schedule and distribution model has been designed with fairness as top priority and with the goal to release about half the maximum supply towards the end of year 3. Rewards Pool tokens are released over the course of 10 years at a rate which diminishes each week.
vSMT holders are able to unwrap and convert 20% of their holdings at the Token Generation Event (TGE) on August 1st, 2021 12:00 CET. An additional 20% of vSMT (of the original purchased amount) will be available to unwrap per quarter thereafter with 100% vesting after 12 months. There is no time limit to when vSMT holders must unwrap their vSMT and convert to SMT.
Note: all vesting events will take place according to block date, not calendar date. As such, the calendar date schedule listed above is an approximation only. Depending on the pace of mining on the Ethereum blockchain, the block date may be earlier or later than the estimated calendar date.
At or directly at SMT holders can participate in key decisions about the $SMT token, rewards policies, and the Swarm common goods services.
Swarm Markets DAO has been set up and registered in Marshall Islands. SMT token reserves are governed by eligible members of the Swarm Markets DAO LLC formed under the Associations Law, 52 MIRC, Part 1, of the Republic of the Marshall Islands and under License Number RMI-2024-65 under the Foreign Investment Business License Act.
Follow the step-by-step guide below to unwrap vSMT and convert it to SMT. Once your vSMT is unwrapped to SMT, it is fully functional: it can be transferred, traded or staked on any ERC20 compatible platform.
Select the wallet that holds your vSMT in and make sure that same wallet has enough ETH to cover gas for transaction costs. You will also want to make sure both vSMT and SMT are in that wallet:
vSMT token contract address: 0x0C033bb39e67eB598D399C06A8A519498dA1Cec9 symbol: vSMT, decimals: 18
SMT token contract address: 0xb17548c7b510427baac4e267bea62e800b247173 symbol: SMT, decimals: 18
Go to the vSMT smart contract:
Built-in optional regulatory compliance into open trading infrastructure
Within the Swarm Market's dOTC v2 trading infrastructure, offer makers can now require counterparties to be qualified and limit offers to only be taken by qualified counterparties. Offer makers can now choose from a selection of KYC/AML service providers.
This feature provides an additional compliance layer that sits on top of open and permissionless infrastructure, to provide fully regulatory institutional trading.
Qualifiers and KYC providers can very simply implement their own Authorization smart contract interface (requiring just one function) in order to provide their own qualification graph for offer makers to select from. See the technical implementation below.
The dOTC platform simply requires the presence of a single function isAccountAuthorized
// //SPDX-License-Identifier: GPL-3.0-only
pragma solidity 0.8.25;
/**
* @title Interface for DOTC Authorizations Contracts (as part of the "SwarmX.eth Protocol")
* @notice This interface is implemented by the Dotc contract to interact with the DotcManager.
* ////////////////DISCLAIMER////////////////DISCLAIMER////////////////DISCLAIMER////////////////
* Please read the Disclaimer featured on the SwarmX.eth website ("Terms") carefully before accessing,
* interacting with, or using the SwarmX.eth Protocol software, consisting of the SwarmX.eth Protocol
* technology stack (in particular its smart contracts) as well as any other SwarmX.eth technology such
* as e.g., the launch kit for frontend operators (together the "SwarmX.eth Protocol Software").
* By using any part of the SwarmX.eth Protocol you agree (1) to the Terms and acknowledge that you are
* aware of the existing risk and knowingly accept it, (2) that you have read, understood and accept the
* legal information and terms of service and privacy note presented in the Terms, and (3) that you are
* neither a US person nor a person subject to international sanctions (in particular as imposed by the
* European Union, Switzerland, the United Nations, as well as the USA). If you do not meet these
* requirements, please refrain from using the SwarmX.eth Protocol.
* ////////////////DISCLAIMER////////////////DISCLAIMER////////////////DISCLAIMER////////////////
* @dev Defines the interface for the Dotc's Authorization contracts.
* @author Swarm
*/
interface IDotcCompatibleAuthorization {
/**
* @notice Returns true if the provided `account` is authorized in the qualifier's ecosystem.
* @param _account The address to be checked for authorization.
* @return bool True if the `account` is authorized, false otherwise.
*/
function isAccountAuthorized(address _account) external view returns (bool);
}10.3 million tokens (10,304,259 SMT)
Team allocation
None → 0%
ITSA Classification
Launch Liquidity Program Providers: 5 million tokens (5,000,000 SMT)
Distribution:
Platform Rewards to (1) Liquidity provider rewards, (2) RWA Holder rewards, (3) SMT Staking rewards
Rewards Pool tokens will be released weekly at a diminishing rate over a 10-year period according to a regression curve representing a 11% reduction per year
About 1.4% will be released in the first 90 days after TGE and at a diminishing rate thereafter, starting at a rate of slightly under 0.5% per month until all Rewards Pool tokens have been released.
Rewards Distribution Logs:
SMT reward distribution logs including a list of addresses and reward amounts are published regularly on the Swarm Markets SMT Rewards Distribution Github repo.
Current Rewards Policy may be found at https://github.com/SwarmMarkets/smt-rewards-distribution/blob/main/policies/smt_rd_policy.md
Distribution: Reserved for future use; assumed 5-year linear release starting 3 years from TGE
Connect your wallet by clicking the red "Connect to web3" button.
Add bot vSMT and SMT to your wallet as custom tokens, if you haven't already:
To unwrap vSMT, go to the operation 4. claimMaximumAmount and click Write.
This should open Metamask with the transaction. Click Confirm.
Ticker
SMT
Type
ERC20
SMT token contract (Ethereum)
0xb17548c7b510427baac4e267bea62e800b247173
SMT token contract (Polygon)
0xE631DABeF60c37a37d70d3B4f812871df663226f
vSMT token contract (Ethereum)
0x0C033bb39e67eB598D399C06A8A519498dA1Cec9
Supply
Initial: 250 million (250,000,000 SMT) Current: 158.9 million (158,879,117 SMT)
Initial circulating supply
The following information will provide you with an easy to navigate overview of what will happen with your personal data when you visit this website. The term “personal data” comprises all data that can be used to personally identify you. For detailed information about the subject matter of data protection, please consult our Data Protection Declaration, which we have included beneath this copy.
Who is the responsible party for the recording of data on this website (i.e., the “controller”)?
The data on this website is processed by the operator of the website, whose contact information is available under section “Information about the responsible party (referred to as the “controller” in the GDPR)” in this Privacy Policy.
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There is a possibility that your browsing patterns will be statistically analyzed when your visit this website. Such analyses are performed primarily with what we refer to as analysis programs.
For detailed information about these analysis programs please consult our Data Protection Declaration below.
We are hosting the content of our website at the following provider:
The provider is the Amazon Web Services EMEA SARL, 38 Avenue John F. Kennedy, 1855 Luxembourg (hereinafter referred to as “AWS”).
When you visit our website, your personal data will be processed on AWS servers. This may also result in the transfer of personal data to the parent company of AWS in the United States. The transfer of data to the US is based on the EU’s standard contractual clauses. For details please consult: .
For more information, please see the AWS Data Privacy Policy: .
AWS is used on the basis of Art. 6(1)(f) GDPR. We have a legitimate interest in a depiction of our website that is as reliable as possible. If appropriate consent has been obtained, the processing is carried out exclusively on the basis of Art. 6(1)(a) GDPR and § 25 (1) TTDSG, insofar the consent includes the storage of cookies or the access to information in the user’s end device (e.g., device fingerprinting) within the meaning of the TTDSG. This consent can be revoked at any time.
The company is certified in accordance with the “EU-US Data Privacy Framework” (DPF). The DPF is an agreement between the European Union and the US, which is intended to ensure compliance with European data protection standards for data processing in the US. Every company certified under the DPF is obliged to comply with these data protection standards. For more information, please contact the provider under the following link:
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Cloudflare offers a content delivery network with DNS that is available worldwide. As a result, the information transfer that occurs between your browser and our website is technically routed via Cloudflare’s network. This enables Cloudflare to analyze data transactions between your browser and our website and to work as a filter between our servers and potentially malicious data traffic from the Internet. In this context, Cloudflare may also use cookies or other technologies deployed to recognize Internet users, which shall, however, only be used for the herein described purpose.
The use of Cloudflare is based on our legitimate interest in a provision of our website offerings that is as error free and secure as possible (Art. 6(1)(f) GDPR).
Data transmission to the US is based on the Standard Contractual Clauses (SCC) of the European Commission. Details can be found here: .
For more information on Cloudflare’s security precautions and data privacy policies, please follow this link: .
The company is certified in accordance with the “EU-US Data Privacy Framework” (DPF). The DPF is an agreement between the European Union and the US, which is intended to ensure compliance with European data protection standards for data processing in the US. Every company certified under the DPF is obliged to comply with these data protection standards. For more information, please contact the provider under the following link:
Data processing
We have concluded a data processing agreement (DPA) for the use of the above-mentioned service. This is a contract mandated by data privacy laws that guarantees that they process personal data of our website visitors only based on our instructions and in compliance with the GDPR.
We use the Content Delivery Network Amazon CloudFront CDN. The provider is Amazon Web Services EMEA SARL, 38 avenue John F. Kennedy, L-1855, Luxembourg (hereinafter referred to as “Amazon”).
Amazon CloudFront CDN is a globally distributed Content Delivery Network. During these transactions, the information transfer between your browser and our website is technically routed via the Content Delivery Network. This enables us to boost the global availability and performance capabilities of our website.
The use of Amazon CloudFront CDN is based on our legitimate interest in keeping the presentation of our web services as error free and secure as possible (Art. 6(1)(f) GDPR).
The data transfer to the United States is based on the Standard Contract Clauses of the EU Commission. You can find the details here: .
For more information on Amazon CloudFront CDN please follow this link: .
The company is certified in accordance with the “EU-US Data Privacy Framework” (DPF). The DPF is an agreement between the European Union and the US, which is intended to ensure compliance with European data protection standards for data processing in the US. Every company certified under the DPF is obliged to comply with these data protection standards. For more information, please contact the provider under the following link:
Data processing
We have concluded a data processing agreement (DPA) for the use of the above-mentioned service. This is a contract mandated by data privacy laws that guarantees that they process personal data of our website visitors only based on our instructions and in compliance with the GDPR.
The operators of this website and its pages take the protection of your personal data very seriously. Hence, we handle your personal data as confidential information and in compliance with the statutory data protection regulations and this Data Protection Declaration.
Whenever you use this website, a variety of personal information will be collected. Personal data comprises data that can be used to personally identify you. This Data Protection Declaration explains which data we collect as well as the purposes we use this data for. It also explains how, and for which purpose the information is collected.
We herewith advise you that the transmission of data via the Internet (i.e., through e-mail communications) may be prone to security gaps. It is not possible to completely protect data against third-party access.
The data processing controller on this website is:
Swarm Capital GmbH Landstr. 37, 9490 FL-Vaduz
E-mail: [email protected]
The controller is the natural person or legal entity that single-handedly or jointly with others makes decisions as to the purposes of and resources for the processing of personal data (e.g., names, e-mail addresses, etc.).
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If you have consented to data processing, we process your personal data on the basis of Art. 6(1)(a) GDPR or Art. 9 (2)(a) GDPR, if special categories of data are processed according to Art. 9 (1) DSGVO. In the case of explicit consent to the transfer of personal data to third countries, the data processing is also based on Art. 49 (1)(a) GDPR. If you have consented to the storage of cookies or to the access to information in your end device (e.g., via device fingerprinting), the data processing is additionally based on § 25 (1) TTDSG. The consent can be revoked at any time. If your data is required for the fulfillment of a contract or for the implementation of pre-contractual measures, we process your data on the basis of Art. 6(1)(b) GDPR. Furthermore, if your data is required for the fulfillment of a legal obligation, we process it on the basis of Art. 6(1)(c) GDPR. Furthermore, the data processing may be carried out on the basis of our legitimate interest according to Art. 6(1)(f) GDPR. Information on the relevant legal basis in each individual case is provided in the following paragraphs of this privacy policy.
We have appointed a data protection officer.
Swarm Capital GmbH Dataprotection Andre Stahl Landstr. 37, 9490 FL-Vaduz
E-mail: [email protected]
We use, among other technologies, tools from companies located in third-party countries that are not safe under data protection law, as well as US tools whose providers are not certified under the EU-US Data Privacy Framework (DPF). If these tools are enabled, your personal data may be transferred to and processed in these countries. We would like you to note that no level of data protection comparable to that in the EU can be guaranteed in third countries that are insecure in terms of data protection law.
We would like to point out that the US, as a secure third-party country, generally has a level of data protection comparable to that of the EU. Data transfer to the US is therefore permitted if the recipient is certified under the “EU-US Data Privacy Framework” (DPF) or has appropriate additional assurances. Information on transfers to third-party countries, including the data recipients, can be found in this Privacy Policy.
In the scope of our business activities, we cooperate with various external parties. In some cases, this also requires the transfer of personal data to these external parties. We only disclose personal data to external parties if this is required as part of the fulfillment of a contract, if we are legally obligated to do so (e.g., disclosure of data to tax authorities), if we have a legitimate interest in the disclosure pursuant to Art. 6 (1)(f) GDPR, or if another legal basis permits the disclosure of this data. When using processors, we only disclose personal data of our customers on the basis of a valid contract on data processing. In the case of joint processing, a joint processing agreement is concluded.
A wide range of data processing transactions are possible only subject to your express consent. You can also revoke at any time any consent you have already given us. This shall be without prejudice to the lawfulness of any data collection that occurred prior to your revocation.
IN THE EVENT THAT DATA ARE PROCESSED ON THE BASIS OF ART. 6(1)(E) OR (F) GDPR, YOU HAVE THE RIGHT TO AT ANY TIME OBJECT TO THE PROCESSING OF YOUR PERSONAL DATA BASED ON GROUNDS ARISING FROM YOUR UNIQUE SITUATION. THIS ALSO APPLIES TO ANY PROFILING BASED ON THESE PROVISIONS. TO DETERMINE THE LEGAL BASIS, ON WHICH ANY PROCESSING OF DATA IS BASED, PLEASE CONSULT THIS DATA PROTECTION DECLARATION. IF YOU LOG AN OBJECTION, WE WILL NO LONGER PROCESS YOUR AFFECTED PERSONAL DATA, UNLESS WE ARE IN A POSITION TO PRESENT COMPELLING PROTECTION WORTHY GROUNDS FOR THE PROCESSING OF YOUR DATA, THAT OUTWEIGH YOUR INTERESTS, RIGHTS AND FREEDOMS OR IF THE PURPOSE OF THE PROCESSING IS THE CLAIMING, EXERCISING OR DEFENCE OF LEGAL ENTITLEMENTS (OBJECTION PURSUANT TO ART. 21(1) GDPR).
IF YOUR PERSONAL DATA IS BEING PROCESSED IN ORDER TO ENGAGE IN DIRECT ADVERTISING, YOU HAVE THE RIGHT TO OBJECT TO THE PROCESSING OF YOUR AFFECTED PERSONAL DATA FOR THE PURPOSES OF SUCH ADVERTISING AT ANY TIME. THIS ALSO APPLIES TO PROFILING TO THE EXTENT THAT IT IS AFFILIATED WITH SUCH DIRECT ADVERTISING. IF YOU OBJECT, YOUR PERSONAL DATA WILL SUBSEQUENTLY NO LONGER BE USED FOR DIRECT ADVERTISING PURPOSES (OBJECTION PURSUANT TO ART. 21(2) GDPR).
In the event of violations of the GDPR, data subjects are entitled to log a complaint with a supervisory agency, in particular in the member state where they usually maintain their domicile, place of work or at the place where the alleged violation occurred. The right to log a complaint is in effect regardless of any other administrative or court proceedings available as legal recourses.
You have the right to have data that we process automatically on the basis of your consent or in fulfillment of a contract handed over to you or to a third party in a common, machine-readable format. If you should demand the direct transfer of the data to another controller, this will be done only if it is technically feasible.
Within the scope of the applicable statutory provisions, you have the right to demand information about your archived personal data, their source and recipients as well as the purpose of the processing of your data at any time. You may also have a right to have your data rectified or eradicated. If you have questions about this subject matter or any other questions about personal data, please do not hesitate to contact us at any time.
You have the right to demand the imposition of restrictions as far as the processing of your personal data is concerned. To do so, you may contact us at any time. The right to demand restriction of processing applies in the following cases:
In the event that you should dispute the correctness of your data archived by us, we will usually need some time to verify this claim. During the time that this investigation is ongoing, you have the right to demand that we restrict the processing of your personal data.
If the processing of your personal data was/is conducted in an unlawful manner, you have the option to demand the restriction of the processing of your data instead of demanding the eradication of this data.
If we do not need your personal data any longer and you need it to exercise, defend or claim legal entitlements, you have the right to demand the restriction of the processing of your personal data instead of its eradication.
If you have restricted the processing of your personal data, these data – with the exception of their archiving – may be processed only subject to your consent or to claim, exercise or defend legal entitlements or to protect the rights of other natural persons or legal entities or for important public interest reasons cited by the European Union or a member state of the EU.
For security reasons and to protect the transmission of confidential content, such as purchase orders or inquiries you submit to us as the website operator, this website uses either an SSL or a TLS encryption program. You can recognize an encrypted connection by checking whether the address line of the browser switches from “http://” to “https://” and also by the appearance of the lock icon in the browser line.
If the SSL or TLS encryption is activated, data you transmit to us cannot be read by third parties.
We herewith object to the use of contact information published in conjunction with the mandatory information to be provided in our Site Notice to send us promotional and information material that we have not expressly requested. The operators of this website and its pages reserve the express right to take legal action in the event of the unsolicited sending of promotional information, for instance via SPAM messages.
Our websites and pages use what the industry refers to as “cookies.” Cookies are small data packages that do not cause any damage to your device. They are either stored temporarily for the duration of a session (session cookies) or they are permanently archived on your device (permanent cookies). Session cookies are automatically deleted once you terminate your visit. Permanent cookies remain archived on your device until you actively delete them, or they are automatically eradicated by your web browser.
Cookies can be issued by us (first-party cookies) or by third-party companies (so-called third-party cookies). Third-party cookies enable the integration of certain services of third-party companies into websites (e.g., cookies for handling payment services).
Cookies have a variety of functions. Many cookies are technically essential since certain website functions would not work in the absence of these cookies (e.g., the shopping cart function or the display of videos). Other cookies may be used to analyze user behavior or for promotional purposes.
Cookies, which are required for the performance of electronic communication transactions, for the provision of certain functions you want to use (e.g., for the shopping cart function) or those that are necessary for the optimization (required cookies) of the website (e.g., cookies that provide measurable insights into the web audience), shall be stored on the basis of Art. 6(1)(f) GDPR, unless a different legal basis is cited. The operator of the website has a legitimate interest in the storage of required cookies to ensure the technically error-free and optimized provision of the operator’s services. If your consent to the storage of the cookies and similar recognition technologies has been requested, the processing occurs exclusively on the basis of the consent obtained (Art. 6(1)(a) GDPR and § 25 (1) TTDSG); this consent may be revoked at any time.
You have the option to set up your browser in such a manner that you will be notified any time cookies are placed and to permit the acceptance of cookies only in specific cases. You may also exclude the acceptance of cookies in certain cases or in general or activate the delete-function for the automatic eradication of cookies when the browser closes. If cookies are deactivated, the functions of this website may be limited.
Which cookies and services are used on this website can be found in this privacy policy.
This website uses the consent technology of Usercentrics to obtain your consent to the storage of certain cookies on your device or for the use of specific technologies, and to document the former in a data protection compliant manner. The party offering this technology is Usercentrics GmbH, Sendlinger Straße 7, 80331 München, Germany, website: (hereinafter referred to as “Usercentrics”).
Whenever you visit our website, the following personal data will be transferred to Usercentrics:
Your declaration(s) of consent or your revocation of your declaration(s) of consent
Your IP address
Information about your browser
Information about your device
Moreover, Usercentrics shall store a cookie in your browser to be able to allocate your declaration(s) of consent or any revocations of the former. The data that are recorded in this manner shall be stored until you ask us to eradicate them, delete the Usercentrics cookie or until the purpose for archiving the data no longer exists. This shall be without prejudice to any mandatory legal retention periods.
Usercentrics uses cookies to obtain the declarations of consent mandated by law. The legal basis for the use of specific technologies is Art. 6(1)(c) GDPR.
Data processing
We have concluded a data processing agreement (DPA) for the use of the above-mentioned service. This is a contract mandated by data privacy laws that guarantees that they process personal data of our website visitors only based on our instructions and in compliance with the GDPR.
The provider of this website and its pages automatically collects and stores information in so-called server log files, which your browser communicates to us automatically. The information comprises:
The type and version of browser used
The used operating system
Referrer URL
The hostname of the accessing computer
This data is not merged with other data sources.
This data is recorded on the basis of Art. 6(1)(f) GDPR. The operator of the website has a legitimate interest in the technically error free depiction and the optimization of the operator’s website. In order to achieve this, server log files must be recorded.
If you submit inquiries to us via our contact form, the information provided in the contact form as well as any contact information provided therein will be stored by us in order to handle your inquiry and in the event that we have further questions. We will not share this information without your consent.
The processing of these data is based on Art. 6(1)(b) GDPR, if your request is related to the execution of a contract or if it is necessary to carry out pre-contractual measures. In all other cases the processing is based on our legitimate interest in the effective processing of the requests addressed to us (Art. 6(1)(f) GDPR) or on your agreement (Art. 6(1)(a) GDPR) if this has been requested; the consent can be revoked at any time.
The information you have entered into the contact form shall remain with us until you ask us to eradicate the data, revoke your consent to the archiving of data or if the purpose for which the information is being archived no longer exists (e.g., after we have concluded our response to your inquiry). This shall be without prejudice to any mandatory legal provisions, in particular retention periods.
If you contact us by e-mail, telephone or fax, your request, including all resulting personal data (name, request) will be stored and processed by us for the purpose of processing your request. We do not pass these data on without your consent.
These data are processed on the basis of Art. 6(1)(b) GDPR if your inquiry is related to the fulfillment of a contract or is required for the performance of pre-contractual measures. In all other cases, the data are processed on the basis of our legitimate interest in the effective handling of inquiries submitted to us (Art. 6(1)(f) GDPR) or on the basis of your consent (Art. 6(1)(a) GDPR) if it has been obtained; the consent can be revoked at any time.
The data sent by you to us via contact requests remain with us until you request us to delete, revoke your consent to the storage or the purpose for the data storage lapses (e.g. after completion of your request). Mandatory statutory provisions - in particular statutory retention periods - remain unaffected.
We use chatbots to communicate with you. Chatbots have the capability to respond to your questions and other entries without the assistance of humans. To do this, chatbots analyze your entries and other data to give matching responses (e.g., names, email addresses and other contact information, customer numbers and other identification, orders, and chat progresses). The chatbot can also register your IP address, log files, location information and other meta data. The data is archived on the servers of the chatbot provider.
It is possible to generate user profiles based on the recorded data. Moreover, the data can be used to display interest-related advertising if the other legal requirements are met (in particular if consent has been obtained). Moreover, it is possible to link chatbots to analytical and advertising tools.
The recorded data can also be used to improve our chatbots and their response patterns (machine learning).
We or the chatbot operator retain the data you enter until you ask us to delete it, revoke your consent to archive it or if the purpose for the data storage is no longer in effect (e.g., once your inquiry has been fully processed). This does not affect mandatory statutory provisions – in particular, retention time frames.
The legal basis for the use of chatbots is Art. 6(1)(b) GDPR, if the chatbot is used to negotiate a contract or in conjunction with the fulfillment of a contract. If appropriate consent has been obtained, the processing is carried out exclusively on the basis of Art. 6(1)(a) GDPR and § 25 (1) TTDSG, insofar the consent includes the storage of cookies or the access to information in the user’s end device (e.g., device fingerprinting) within the meaning of the TTDSG. This consent can be revoked at any time. In all other cases, the use is based on our legitimate interest in the most effective client communication possible (Art. 6(1)(f) GDPR).
We use the following chatbots:
The provider is Zendesk GmbH c/o WeWork, Neue Schönhauser Str. 3-5, 10178 Berlin (hereinafter referred to as “Zendesk”).
The Zendesk chatbot processes all information you have entered in conjunction with the interaction as well as other available data, such as contact information (e.g., email address and phone numbers), order data, order progressions, previous customer inquiries as well as customer numbers and other identifiers.
The data processed in conjunction with communications is stored on Zendesk´s servers. This means that data may also be transferred to the parent company of Zendesk GmbH, specifically Zendesk, Inc., 989 Market St, San Francisco, California 94103-1612. Zendesk has Binding Corporate Rules (BCR) in place, which have been approved by the French Data Protection Agency.
These are binding intra-corporate provisions that legitimize the in-company transfer of data to non-EU countries outside of the EU and the EEZ. For details, please click here: https://www.zendesk.de/blog/update-privacy-shield-invalidation-european-court-justice/..
The Zendesk Data Privacy Policy can be found here: https://www.zendesk.com/company/customers-partners/privacy-policy/..
We have concluded a data processing agreement (DPA) for the use of the above-mentioned service. This is a contract mandated by data privacy laws that guarantees that they process personal data of our website visitors only based on our instructions and in compliance with the GDPR.
If you would like to receive the newsletter offered on the website, we require an e-mail address from you as well as information that allows us to verify that you are the owner of the e-mail address provided and that you agree to receive the newsletter. Further data is not collected or only on a voluntary basis. For the handling of the newsletter, we use newsletter service providers, which are described below.
This website uses Brevo for the sending of newsletters. The provider is the Sendinblue GmbH, Köpenicker Straße 126, 10179 Berlin, Germany.
Brevo services can, among other things, be used to organize and analyze the sending of newsletters. The data you enter for the purpose of subscribing to the newsletter are archived on servers of Sendinblue GmbH in Germany.
Data analysis by Brevo
Brevo enables us to analyze our newsletter campaigns. For instance, it allows us to see whether a newsletter message has been opened and, if so, which links may have been clicked. This enables us to determine, which links drew an extraordinary number of clicks.
Moreover, we are also able to see whether once the e-mail was opened or a link was clicked, any previously defined actions were taken (conversion rate). This allows us to determine whether you have made a purchase after clicking on the newsletter.
Brevo also enables us to divide the subscribers to our newsletter into various categories (i.e., to “cluster” recipients). For instance, newsletter recipients can be categorized based on age, gender, or place of residence. This enables us to tailor our newsletter more effectively to the needs of the respective target groups.
If you do not want to permit an analysis by Brevo, you must unsubscribe from the newsletter. We provide a link for you to do this in every newsletter message. Moreover, you can also unsubscribe from the newsletter right on the website.
For detailed information on the functions of Brevo please follow this link: .
Legal basis
The data is processed based on your consent (Art. 6(1)(a) GDPR). You may revoke any consent you have given at any time by unsubscribing from the newsletter. This shall be without prejudice to the lawfulness of any data processing transactions that have taken place prior to your revocation.
Storage period
The data deposited with us for the purpose of subscribing to the newsletter will be stored by us until you unsubscribe from the newsletter or the newsletter service provider and deleted from the newsletter distribution list after you unsubscribe from the newsletter. Data stored for other purposes with us remain unaffected.
After you unsubscribe from the newsletter distribution list, your e-mail address may be stored by us or the newsletter service provider in a blacklist, if such action is necessary to prevent future mailings. The data from the blacklist is used only for this purpose and not merged with other data. This serves both your interest and our interest in complying with the legal requirements when sending newsletters (legitimate interest within the meaning of Art. 6(1)(f) GDPR). The storage in the blacklist is indefinite. You may object to the storage if your interests outweigh our legitimate interest.
For more details, please consult the Data Protection Regulations of Brevo at: and .
Data processing
We have concluded a data processing agreement (DPA) for the use of the above-mentioned service. This is a contract mandated by data privacy laws that guarantees that they process personal data of our website visitors only based on our instructions and in compliance with the GDPR.
This website uses so-called Google Fonts provided by Google to ensure the uniform use of fonts on this site. These Google fonts are locally installed so that a connection to Google’s servers will not be established in conjunction with this application.
For more information on Google Fonts, please follow this link: and consult Google’s Data Privacy Declaration under: .
We use “Google reCAPTCHA” (hereinafter referred to as “reCAPTCHA”) on this website. The provider is Google Ireland Limited (“Google”), Gordon House, Barrow Street, Dublin 4, Ireland.
The purpose of reCAPTCHA is to determine whether data entered on this website (e.g., information entered into a contact form) is being provided by a human user or by an automated program. To determine this, reCAPTCHA analyzes the behavior of the website visitors based on a variety of parameters. This analysis is triggered automatically as soon as the website visitor enters the site. For this analysis, reCAPTCHA evaluates a variety of data (e.g., IP address, time the website visitor spent on the site or cursor movements initiated by the user). The data tracked during such analyses are forwarded to Google.
reCAPTCHA analyses run entirely in the background. Website visitors are not alerted that an analysis is underway.
Data are stored and analyzed on the basis of Art. 6(1)(f) GDPR. The website operator has a legitimate interest in the protection of the operator’s websites against abusive automated spying and against SPAM. If appropriate consent has been obtained, the processing is carried out exclusively on the basis of Art. 6(1)(a) GDPR and § 25 (1) TTDSG, insofar the consent includes the storage of cookies or the access to information in the user’s end device (e.g., device fingerprinting) within the meaning of the TTDSG. This consent can be revoked at any time.
For more information about Google reCAPTCHA please refer to the Google Data Privacy Declaration and Terms Of Use under the following links: and .
The company is certified in accordance with the “EU-US Data Privacy Framework” (DPF). The DPF is an agreement between the European Union and the US, which is intended to ensure compliance with European data protection standards for data processing in the US. Every company certified under the DPF is obliged to comply with these data protection standards. For more information, please contact the provider under the following link:
We deploy the CRM system Zendesk to process user inquiries. The provider is Zendesk, Inc., 1019 Market Street in San Francisco, CA 94103 USA.
We use Zendesk to be able to respond to your inquiries promptly and efficiently. This constitutes a legitimate interest as defined in Art. 6(1)(f) GDPR.
In order to be able to submit inquiries, you must provide your e-mail address and name.
The messages addressed to us remain with us until you request deletion, or the data storage purpose no longer applies (e.g. after completed processing of your request). Mandatory statutory provisions, in particular retention periods, remain unaffected.
Zendesk has Binding Corporate Rules (BCR) which have been approved by the Irish Data Protection Authority. These are binding corporate rules that legitimize the transfer of data within the company to third countries outside the EU and EEA. Details can be found here: .
If you should not want to agree to the processing of your inquiries by us via Zendesk, you have the alternative option to communicate with us via e-mail, telephone, or fax.
For more information, please consult Zendesk’s Data Privacy Declaration at: .
The company is certified in accordance with the “EU-US Data Privacy Framework” (DPF). The DPF is an agreement between the European Union and the US, which is intended to ensure compliance with European data protection standards for data processing in the US. Every company certified under the DPF is obliged to comply with these data protection standards. For more information, please contact the provider under the following link:
Data processing
We have concluded a data processing agreement (DPA) for the use of the above-mentioned service. This is a contract mandated by data privacy laws that guarantees that they process personal data of our website visitors only based on our instructions and in compliance with the GDPR.
We offer website visitors the opportunity to submit job applications to us (e.g., via e-mail, via postal services on by submitting the online job application form). Below, we will brief you on the scope, purpose and use of the personal data collected from you in conjunction with the application process. We assure you that the collection, processing, and use of your data will occur in compliance with the applicable data privacy rights and all other statutory provisions and that your data will always be treated as strictly confidential.
Scope and purpose of the collection of data
If you submit a job application to us, we will process any affiliated personal data (e.g., contact and communications data, application documents, notes taken during job interviews, etc.), if they are required to make a decision concerning the establishment or an employment relationship. The legal grounds for the aforementioned are § 26 BDSG according to German Law (Negotiation of an Employment Relationship), Art. 6(1)(b) GDPR (General Contract Negotiations) and – provided you have given us your consent – Art. 6(1)(a) GDPR. You may revoke any consent given at any time. Within our company, your personal data will only be shared with individuals who are involved in the processing of your job application.
If your job application should result in your recruitment, the data you have submitted will be archived on the grounds of § 26 BDSG and Art. 6(1)(b) GDPR for the purpose of implementing the employment relationship in our data processing system.
Data Archiving Period
If we are unable to make you a job offer or you reject a job offer or withdraw your application, we reserve the right to retain the data you have submitted on the basis of our legitimate interests (Art. 6(1)(f) GDPR) for up to 6 months from the end of the application procedure (rejection or withdrawal of the application). Afterwards the data will be deleted, and the physical application documents will be destroyed. The storage serves in particular as evidence in the event of a legal dispute. If it is evident that the data will be required after the expiry of the 6-month period (e.g., due to an impending or pending legal dispute), deletion will only take place when the purpose for further storage no longer applies.
Longer storage may also take place if you have given your agreement (Article 6(1)(a) GDPR) or if statutory data retention requirements preclude the deletion.
This privacy policy applies to the following social media presence
https://twitter.com › swarmcapital
Data processing through social networks
We maintain publicly available profiles in social networks. The individual social networks we use can be found below.
Social networks such as Facebook, Twitter etc. can generally analyze your user behavior comprehensively if you visit their website or a website with integrated social media content (e.g., like buttons or banner ads). When you visit our social media pages, numerous data protection-relevant processing operations are triggered. In detail:
If you are logged in to your social media account and visit our social media page, the operator of the social media portal can assign this visit to your user account. Under certain circumstances, your personal data may also be recorded if you are not logged in or do not have an account with the respective social media portal. In this case, this data is collected, for example, via cookies stored on your device or by recording your IP address.
Using the data collected in this way, the operators of the social media portals can create user profiles in which their preferences and interests are stored. This way you can see interest-based advertising inside and outside of your social media presence. If you have an account with the social network, interest-based advertising can be displayed on any device you are logged in to or have logged in to.
Please also note that we cannot retrace all processing operations on the social media portals. Depending on the provider, additional processing operations may therefore be carried out by the operators of the social media portals. Details can be found in the terms of use and privacy policy of the respective social media portals.
Legal basis
Our social media appearances should ensure the widest possible presence on the Internet. This is a legitimate interest within the meaning of Art. 6 (1) lit. f GDPR. The analysis processes initiated by the social networks may be based on divergent legal bases to be specified by the operators of the social networks (e.g., consent within the meaning of Art. 6 (1) (a) GDPR).
Responsibility and assertion of rights
If you visit one of our social media sites (e.g., Facebook), we, together with the operator of the social media platform, are responsible for the data processing operations triggered during this visit. You can in principle protect your rights (information, correction, deletion, limitation of processing, data portability and complaint) vis-à-vis us as well as vis-à-vis the operator of the respective social media portal (e.g., Facebook).
Please note that despite the shared responsibility with the social media portal operators, we do not have full influence on the data processing operations of the social media portals. Our options are determined by the company policy of the respective provider.
Storage time
The data collected directly from us via the social media presence will be deleted from our systems as soon as you ask us to delete it, you revoke your consent to the storage or the purpose for the data storage lapses. Stored cookies remain on your device until you delete them. Mandatory statutory provisions - in particular, retention periods - remain unaffected.
We have no control over the storage duration of your data that are stored by the social network operators for their own purposes. For details, please contact the social network operators directly (e.g., in their privacy policy, see below).
Your rights
You have the right to receive information about the origin, recipient and purpose of your stored personal data at any time and free of charge. You also have the right to object, the right to data portability and the right to file a complaint with the responsible regulatory agency. Furthermore, you can request the correction, blocking, deletion and, under certain circumstances, the restriction of the processing of your personal data.
Individual social networks
We use the short message service Twitter. The provider is Twitter International Company, One Cumberland Place, Fenian Street, Dublin 2, D02 AX07, Ireland.
You can customize your Twitter privacy settings in your user account. Click on the following link and log in: .
Data transmission to the US is based on the Standard Contractual Clauses (SCC) of the European Commission. Details can be found here: .
For details, see the Twitter Privacy Policy: .
We have a LinkedIn profile. The provider is the LinkedIn Ireland Unlimited Company, Wilton Plaza, Wilton Place, Dublin 2, Ireland. LinkedIn uses advertising cookies.
If you want to disable LinkedIn advertising cookies, please use the following link: .
Data transmission to the US is based on the Standard Contractual Clauses (SCC) of the European Commission. Details can be found here: and .
For details on how they handle your personal information, please refer to LinkedIn's privacy policy: .
If you have raised an objection pursuant to Art. 21(1) GDPR, your rights and our rights will have to be weighed against each other. As long as it has not been determined whose interests prevail, you have the right to demand a restriction of the processing of your personal data.
The date and time you visited our website
The time of the server inquiry
The IP address
Our Terms of Service contain these three parts:
These General Terms and Conditions (“Swarm Markets T&Cs“) apply to all services and the software provided within the scope of the contractual relationship (“Swarm Markets Contract“) between Swarm Capital GmbH (“Swarm Markets“) with its current address and the commercial register data according to the imprint on the website www.swarm.com, its subpage, the web application under trade.swarm.com (“Swarm Markets Web Application“), or any mobile application (Swarm Markets-Web-Application, mobile application and website together “Platform“) as a service provider and the sole proprietor or business entity as customer (“Customer“) with all contents, functions, services and rules (“Swarm Markets Services“, a service or software as a service, each a “Swarm Markets Service“). General Terms and Conditions of the Customer will only become a part of the Swarm Markets Contract if Swarm Markets expressly consents and approves this in writing.
With regards to the contract (“Account Contract“) between the Customer and Swarm Markets necessary for the establishment and use of the Account with the respective range of services (“Account“) as well as the other services provided by Swarm Markets, the General Terms and Conditions of Swarm Markets, agreed separately between the Customer and Swarm Markets, shall apply:
The use of the Swarm Markets Services provided by Swarm Markets is subject to this Swarm Markets T&Cs. For additionally provided services (“Partner Services“) of other regulated and non-regulated third party providers (such as other online and mobile banking service providers, each a “Partner“, whereby Swarm Markets is not a Partner in the sense of this definition) – if a separate contractual relationship of the Customer with the respective Partner is required – again the terms of use and other contractual conditions separately agreed by the Customer with the respective Partner, including the General Terms and Conditions of these Partners (each a “Partner Agreement“), shall apply. Regardless of the afore mentioned, between the Customer and Swarm Markets, the Customer’s consent to Swarm Markets’ current prices and services list is required (if applicable, including a change in the Customer’s pricing plan).
The subject of the Swarm Markets Contract is the use of Swarm Markets Services. The Customer connects their wallet to the application operated by Swarm Markets. After the successfully passed compliance processes, the client’s wallet is permitted to interact with the application (in the following such wallet also called “Account”). A detailed overview of the Swarm Markets Services and the respective fees charged can be found in Swarm Markets’ current prices and services list (“Prices and Services List“) to which the Swarm Markets T&Cs apply in full as part of the Swarm Markets Contract.
Swarm Markets provides against payment, inter alia, the technical requirements for and other services in connection with the Account and access to other regulated Partner Services of banking institutions as well as financial and payment service providers as a technical service provider within the meaning of Section 2 (1) no. 9 of the German Payment Services Supervision Act (ZAG) via access points, integrations and interfaces (inter alia, so-called APIs), which are provided by the respective institution or service provider.
Swarm Markets owes to the Customer only those Swarm Markets Services which are listed as Swarm Markets Services in the, at the relevant time, current Prices and Services List. Swarm Markets does not conduct any banking business and does not provide any financial or payment services as defined in the German Banking Act (KWG) or the German Payment Services Supervision Act (ZAG). Moreover, Swarm Markets does not provide foreign currency exchange services.
Swarm Markets will use best efforts to provide an unrestricted use and availability of the Swarm Markets Services, but Swarm Markets cannot guarantee such use and availability. Swarm Markets is obliged to ensure an annual average of 99% with regards to the usability and availability of the Swarm Markets Services (“Service Level“).
The provided Swarm Markets Services are also in accordance with the Swarm Markets Contract, as far as the service level is reduced by a maximum of 1% on an annual average basis and the use or availability of the Swarm Markets Services is limited by:
repair, update or maintenance work on the Swarm Markets website; or
circumstances beyond Swarm Markets’ control, in particular all actions of third parties not acting on behalf of Swarm Markets (whereby Swarm Markets and the Partners are not such third parties) and the availability of technical internet functions which Swarm Markets cannot influence.
The opening and use of the Account is a prerequisite for the use of Swarm Markets Services.
Swarm Markets is using partners for delivering its services and those partners may also be entitled to receiving payments for the services rendered to the Customer by the Partner in its own name and on its own account.
Paragraph 5 applies accordingly to all other Partners who provide Partner Services to the Customer via Swarm Markets Services.
The use of the Swarm Markets Services is unrestricted and still possible after the termination of a Partner Agreement or several Partner Agreements or all Partner Agreements.
The Customer submits, directly or through its legal representative, an application to Swarm Markets for the conclusion of the Swarm Markets Contract by creating an user account on the Platform (“User Account”), and accepting the Swarm Markets T&Cs (“Offer“). For the User Account, the Customer provides its e-mail address and a password in addition to the master data (“Access Credentials“).
Swarm Markets accepts the Customer’s Offer subject to the conditions precedent that (i) Customer has entered into an Account Contract with Swarm Markets and (ii) the User Account has been opened (“Conditions Precedent“). For the conclusion of the Account Contract with the Customer, Swarm Markets conducts a verification in accordance with regulatory and legal requirements (“Regulatory Check“). In the course of the Regulatory Check, Swarm Markets verifies, among other things, the identity of the Customer and its legal representatives. For the Regulatory Check, the Customer shall provide further information and submit documents during the registration process. In simple cases, the Regulatory Check usually takes two working days from the time when the Customer submits all necessary information and documents in a complete, correct and clear manner; otherwise, however, it may take longer.
As soon as the Conditions Precedent have been fulfilled and, on that basis, the Swarm Markets Contract between the Customer and Swarm Markets has been concluded, Swarm Markets will notify the Customer by e-mail that the User Account is now operational.
With regards to further Partner Services (not yet offered and only offered from a future date onwards), Swarm Markets will inform the Customer timely in an appropriate form about their content and any requirements to accept the general terms and conditions of the relevant Partner. Details of the conditions and requirements of the Partner Services can be found in the respective Partner Agreements. The Partner Agreements are beyond Swarm Markets’ control.
Except as otherwise provided in the Swarm Markets T&Cs, e.g. for the conclusion of a contract pursuant to clause 6.1 and notices of termination pursuant to clauses 12.2 and 12.3, the communication channels accepted by Swarm Markets for contact by the Customer are the Swarm Markets telephone hotline, e-mails and the chat within the Swarm Markets Web Application. Swarm Markets reserves the right to contact the Customer by other means or through other channels.
Master data can be changed either by sending an e-mail or letter to Swarm Markets or within the Swarm Markets Web Application. If necessary, these changes may require another verification process.
For the activation of further online banking users of the Customer (e.g. for employees), further authentication procedures are required, which are in particular based on the specifications and requirements of Swarm Markets and/or the respective Partner concerned.
A termination of the Account Contract and the order to close the Account as well as the cancellation of the Partner Agreements shall be sent to the customer service of Swarm Markets by the Customer. Swarm Markets will inform the Partners accordingly and forward the Customer’s declarations.
Swarm Markets undertakes to protect customer data at all times by appropriate and state of the art measures and to disclose personal data of the Customer and its online banking users only for legal reasons, especially if required for the fulfillment of the Swarm Markets Contract or if the Customer has consented thereto.
A technical measure in the sense of clause 8.1 is that Swarm Markets transmits data, in particular User Account information, exclusively in encrypted form. Additionally, Swarm Markets uses other suitable and secure procedures to enable the Customer to retrieve necessary financial information and to transmit requests (e.g. TAN procedure, 2FA).
Details on the handling of personal data, data protection, and data security are described in detail in Swarm Markets’ privacy policy (“Privacy Policy“). Data is transmitted via a secure and encrypted internet connection. For the regular exchange of data, Swarm Markets has concluded an agreement on joint responsibility for data processing in accordance with Art. 26 of the German General Data Protection Regulation (GDPR) with Partners.
For the processing of the Customer’s data by Partners, the data protection declaration of the respective Partner shall apply.
If technical or legal conditions change, Swarm Markets reserves the right to change the practice described in Swarm Markets’ General Terms and Conditions and its Privacy Policy. The Customer shall be informed of any changes in due time.
The customer is responsible for the confidentiality and security of its Access Credentials. This means that the Access Credentials must be kept secret and must not be passed on. The customer is responsible for ensuring that third parties cannot obtain knowledge of the Access Credentials and must take the necessary measures to ensure confidentiality, in particular by using a secure password consisting of numbers, letters, and special characters and by changing the password at regular intervals.
As part of its duty of care, the Customer shall ensure that the Customer can be reached at the e-mail address provided by it from the time of registration onwards. Any misuse of the Swarm Markets Services or the Account, suspicion thereof or loss of the Access Credentials must be reported by the Customer to Swarm Markets immediately in text form (e.g. by e-mail or in the Swarm Markets Web Application).
Furthermore, the Customer is responsible for taking appropriate precautions (on a regular basis and in accordance with the risks involved) to secure the data and contents entered, uploaded and stored in the course of its use of the Swarm Markets Services or the User Account as well as to create its own backup copies in order to ensure the reconstruction of the data and information in case of loss.
If further online banking users of the Customer are activated (e.g. for employees), the Customer is responsible for the behavior of these further users as if the Customer or its legal representative had acted itself.
The customer must respond immediately to inquiries by Swarm Markets and/or the Partners.
The availability of Swarm Markets Services is dependent on internet access. The Customer is solely responsible for ensuring that the necessary system requirements are met in order to use the Swarm Markets Services. If the Customer uses services of third parties (especially scraping software and add-ons), the Customer is responsible for ensuring that these do not impair the Swarm Markets Services. In this respect, Swarm Markets does not guarantee compatibility and is not liable for any damages resulting from the use of such services.
The Customer indemnifies Swarm Markets against all claims, including any claims for damages, asserted by other customers or other third parties, including governmental authorities, against Swarm Markets for any infringement of rights resulting from the Customer’s use of the Swarm Markets Services. The Customer is liable for any costs, including legal costs, incurred by Swarm Markets due to an infringement of third-party rights by the Customer. All further rights and claims for damages of Swarm Markets remain unaffected. The above obligations shall only apply to the extent that the Customer is responsible for the infringement in question.
Swarm Markets is entitled to take appropriate measures to prevent damages and to ensure the availability of the Swarm Markets Services. This applies in particular if the Customer violates its contractual obligations. Such measures may include the partial or complete restriction of access to the Swarm Markets Services, especially with regards to the possibility of card payments or transfer orders.
Swarm Markets is also entitled to restrict the Swarm Markets Services in whole or in parts if the Customer fails to pay any fees due. Swarm Markets has no influence on the restrictions of services imposed by Partner Services.
Unless otherwise specified in the respective service description, the Swarm Markets Contract is concluded for an indefinite period of time.
The Customer may terminate the Swarm Markets Contract by giving five (5) business days’ written notice towards the end of the month. For this purpose, an e-mail to Swarm Markets with the scanned, wet-signed termination notice as an attachment is sufficient.
Swarm Markets may terminate the Swarm Markets Contract with a notice period of eight (8) weeks in text form. A termination by e-mail to the Customer is sufficient for this purpose. In case of such an ordinary termination, Swarm Markets is not obliged to give reasons.
The right to an extraordinary termination for good cause remains unaffected. An important reason in this sense is especially given if the Customer:
is more than one month in default with the payment of an entire fee, e.g. the monthly pricing plan; is repeatedly in default with considerable parts of fees despite a reminder or notice;
fails to provide Swarm Markets or its Partners with information required for regulatory reasons within a reasonable period of time despite being requested to do so;
the Customer uses the Swarm Markets Services for unfair business practices;
With regard to the provision of software services (Software as a Service) by Partners under the Swarm Markets Services, the following applies:
In principle, the statutory regulations concerning warranty apply, unless Swarm Markets T&Cs contain deviating conditions.
Liability for the restriction of use and availability as a result of force majeure and lawful internal company industrial and strike action is excluded. The Customer’s right of termination under clause 12.2 remains unaffected.
The Customer’s right of set-off, reduction (reduction of fees according to section 536 of the German Civil Code (BGB)) and retention is excluded, unless the Customer asserts the aforementioned rights with legally binding or undisputed claims.
Swarm Markets is liable on the merits and without contractual limitation only for damages suffered by the Customer:
which are based on an intentional or grossly negligent breach of duty by Swarm Markets or on an intentional or grossly negligent breach of duty by a legal representative or vicarious agent of Swarm Markets,
from injury to life, body or health resulting from a negligent breach of duty by Swarm Markets or an intentional or negligent breach of duty by a legal representative or vicarious agent of Swarm Markets, as well as
within the scope of liability under the provisions of the German Product Liability Act (Produkthaftungsgesetz), guarantees granted to the Customer or due to fraudulent misrepresentation by Swarm Markets.
For damages resulting from a slightly negligent breach of an essential obligation, Swarm Markets’ liability is limited to the amount of damages that are foreseeable and typical for the type of business in question. Essential duties are duties whose violation endangers the achievement of the purpose of the contract or whose fulfillment makes the proper execution of the contract possible in the first place and on whose compliance the Customer regularly relies.
Any further liability of Swarm Markets is excluded.
Insofar as the liability of Swarm Markets is excluded or limited, this also applies to the personal liability of Swarm Markets’ employees, representatives, and vicarious agents as well as to tortious claims.
Both Swarm Markets and the Partners act on the basis of a separate contractual relationship with the Customer. Swarm Markets does not assume any warranty or liability in this respect.
If Customer uses the services of Swarm Markets or Partner Services, this comes at the Customer’s own risk. Details can be found in the product descriptions of Swarm Markets and the Partners as well as in the terms of use provided by the Partner for the respective Partner Service.
The limitation period for all warranty rights of the Customer shall be 12 months unless Swarm Markets has a liability under clause 14.1., in which case apply the statutory provisions.
Swarm Markets is entitled to make changes to the Swarm Markets T&Cs including the price and service specifications and other provisions of the Swarm Markets Contract which:
correct obvious errors or omissions;
represent descriptive provisions, insofar as the underlying circumstances have changed;
are intended for clarification purposes or are otherwise of an editorial nature; or are not disadvantageous to the customer in legal or factual terms. This includes in particular the introduction of further free Swarm Markets Services.
Swarm Markets will notify the Customer of such changes by e-mail.
Swarm Markets will offer to the Customer any amendments to the Swarm Markets Contract other than those specified in clause 17 or elsewhere in the Swarm Markets T&Cs (including the Swarm Markets T&Cs and the Prices and Services List). If the Customer does not object within a period of 6 weeks, the changes will be considered as accepted. The receipt of the Customer’s objection notice by Swarm Markets is decisive for the compliance with the objection notice period by the Customer.
Swarm Markets will inform the Customer by e-mail about the new regulations and the date of their coming into force and will point out the objection notice period and the consequences of an expiration of the objection notice period. Upon receipt of this e-mail by the Customer, the objection notice period is initiated.
The obligation to pay the fees for Swarm Markets Services begins on the day on which Swarm Markets notifies the Customer of the validity of the Swarm Markets Contract in accordance with clause 6.3. The payment obligation ends with the expiration of the term of the Swarm Markets Contract (if applicable) or, in case of a termination, with the effectiveness of the termination according to clauses 12.2 to 12.4.
The fees for the respective Swarm Markets Services are listed and specified in detail in the Prices and Services List. Any additional fees for the Partner Services, if applicable, are set out in the respective Partner Agreements or the Partner’s Prices and Services List. The Customer will always be informed about any fees for Swarm Markets Services or Partner Services in connection with the respective activation of the relevant Swarm Markets Services or Partner Services. Swarm Markets collects the fees for Swarm Markets Services in principle in its own name and on its own account directly as a proportion of the value of certain transactions collected as a part of the transaction process. These fees and the respective Swarm Markets Services concerned are marked accordingly in the Prices and Services List. Unless otherwise expressly indicated on the invoice, Swarm Markets will invoice in its own name and on its own account.
Swarm Markets may, under certain circumstances, including but not limited to the referral of new customers, changes in pricing plans by Swarm Markets, goodwill or marketing promotions, grant the Customer a certain amount of bonus points or utility tokens (“Credits“) or any other types of credit.
Credits or any other types of credit have the value assigned to them. It is at Swarm Markets’ sole discretion to disburse such Credits or any other types of credit or to credit such Credits or any other types of credit to the Customer’s Account and thus to continuously (if necessary) offset them with future payment claims of Swarm Markets. There is no general entitlement to a disbursement of such Credits or any other types of credit. Upon termination of the Swarm Markets Contract, any such remaining non-disbursed Credits or any other types of credit shall expire.
The Customer is solely responsible for an adequate tax treatment or any potential taxation of such Credits or any other types of credit.
If the Customer provides Swarm Markets with the personal data of third parties as part of a referral program, the Customer is responsible to Swarm Markets for ensuring that the relevant third parties concerned have consented to the disclosure of their personal data.
The Customer may not assign or pledge any claims against Swarm Markets. This does not apply for monetary claims insofar as the conditions of section 354a of the German Commercial Code (HGB) are fulfilled. Swarm Markets may assign all claims against the Customer to third parties.
Swarm Markets may entrust third parties with the performance of its obligations under this contract. During the term of the contractual relationship, the Customer may neither lease the use of Swarm Markets Services to third parties nor use Swarm Markets Services for subletting, leasing, selling, mortgaging or otherwise making it subject of a transaction. An extraordinary termination pursuant to section 540 para. 1 sentence 2 of the German Civil Code (BGB) is excluded.
The laws of the Federal Republic of Germany shall apply (under exclusion of the UN Convention on Contracts for the International Sale of Goods).
If any provision of the Swarm Markets T&Cs is or becomes invalid, the validity of the remaining provisions of the Swarm Markets T&Cs shall not be affected thereby. The invalid provision shall be replaced by the parties to the contract by mutual consent by a provision which comes closest to the economic purpose of the invalid provision in a legally effective manner. The above provision shall apply accordingly in the event of loopholes.
These special conditions (hereinafter "Special Conditions") shall govern transactions in cryptographic assets between Swarm Capital GmbH (“Service Partner" or "SP'") and its customer (hereinafter "Customer"/"Customers"). SP and Customer together shall be referred to as the "Parties"). These Special Conditions apply to the purchase or sale of cryptographic assets via Blockchain technology (hereinafter "Cryptographic Assets"). Eligible Cryptographic Assets are specified on the SP's webpage and updated regularly.
Customers are reminded that:
they and any and all persons authorized to initiate Orders are required to successfully complete our User Account opening process pursuant to our AML Policy, which may be amended from time to time, before making use of SP's Transaction services;
they are solely responsible for, and shall pay, all taxes, assessments, duties, and other governmental charges, including any interest or penalty rightfully owed by Customers with respect to any transaction related to SP's services;
Cryptographic Assets are new forms of assets that the law regarding their ownership, custody, and transfer is developing and uncertain, and that transacting in such assets poses certain risks that are not present in the case of more traditional asset classes. Customers will bear such risks and the potential loss or diminution in value of Cryptographic Assets due to changes or developments in the law or conditions under existing law in which your rights in and to such Cryptographic Assets are not adequately protected;
In these Special Conditions,
where the context so admits, a reference to the singular includes the plural and vice versa;
any reference to a defined document or provision of statutory law is a reference to that defined document or provision as amended, supplemented, restated or novated from time to time;
headings are for ease of reference only and shall be ignored in the construction of this Agreement;
The SP and the Customer conclude transactions in the form of
2.1.1 financial commission transactions whereby the SP purchases and sells Cryptographic Assets in SP's own name for the account of the Customer (Finanzkommissionsgeschäft, hereinafter "Commission Transaction");
2.1.2 brokering of Cryptographic Assets whereby the SP purchases and sells Cryptographic Assets on behalf of and for the account of the Customer (Abschlussvermittlung, hereinafter "Brokering Transaction";.
2.1.3 brokering of Cryptographic Assets whereby the Customer purchases and sells Cryptographic Assets by SP acting in the Customer’s name and by order and for account of the Customer conveying the Customer's declaration to acquire or sell specific Cryptographic Assets (Anlagevermittlung, hereinafter "Investment Brokering Transaction"; Commission Transaction, Brokering Transaction and Investment Brokering Transaction together "Transaction") .
2.2.1 The Customer instructs the SP in writing regarding the execution of a transaction (hereinafter "Order"). Orders have to be confirmed by the SP via email (hereinafter "Order Confirmation") and are only deemed binding upon such confirmation. The Parties may agree on other rules for confirmation in writing. Communication details, inter alia, email addresses, phone numbers, fax numbers, are exchanged between the Parties separately from these Special Conditions.
2.2.2 Written form under 1.3.1 of these Special Conditions means email, SMS, fax or letter. The Order may also be given orally in personal meetings or over the phone.
2.2.3 The SP is not obligated to execute Orders that SP assumes may entail an infringement of applicable legislation or any rules adopted for the relevant regulated market or markets. In this case, the SP will notify the Customer accordingly, if permitted by law. The SP reserves the right to refuse to process, cancel or reverse, any Order in its sole discretion in accordance with applicable law and these Special Conditions, even following deposit of Cryptographic Assets in the Customer's Custody Account.
2.2.4 With respect to the use of correct email address and other credentials, SP cannot authenticate whether or not the Order originated from the Customer or another authorized person. As such, the SP may rely upon any action that they believe in good faith to have been taken by the Customer or another authorized person. It is the Customer's sole responsibility to protect and secure their user name, password and other credentials from unauthorized use and disclosure.
2.3.1 When the SP executes Orders from a Customer for a Commission Transaction, it concludes a purchase or sell trade in SP's own name for the account of the Customer with another market participant or a central counterparty, or it commissions another broker (interim agent) to conclude a purchase or sale.
2.3.2 The Parties agree on the payment terms in a separate Fee for the Commission Transaction separately from these Special Conditions. The SP may either advance the funds or the Customer pre-pays a certain amount to the SP.
2.3.3 The SP holds the Cryptographic Assets in custody in its own or a dedicated proxy wallet until Cryptographic Assets are transferred to the Customer's dedicated custody wallet according to the Custody Agreement (hereinafter "Custody Agreement").
2.3.4 The SP executes the transfer to the Customer's dedicated custody wallet on the same day of receiving the Cryptographic Assets, but not later than the following working day.
2.4.1 When the SP executes Orders from a Customer for a Brokering Transaction, it concludes a purchase or sell trade in the name and for the account of the Customer with another market participant or a central counterparty, or it commissions another broker (interim agent) to conclude a purchase or sale.
2.4.2 The Customer makes available to the SP the information necessary to conclude the purchase or sell, particularly the account information for using the Customer's wallet or setting up a wallet in the name of the Customer. The customer also provides such wallet with the necessary funds in case of a purchase.
2.5.1 When the SP executes Orders from a Customer for an Investment Brokering Transaction, it conveys the Customer's declaration to purchase or sell specific Cryptographic Assets to the third party.
2.5.2 The Customer makes available to the SP the information necessary to convey the declaration to purchase or sell, particularly the User Account information for using the Customer's wallet or setting up a wallet in the name of the Customer.
2.6.1 Customers may conduct transactions with the Pools on the Platform, whereby the Customer either buys or sells cryptographic assets to the respective Pool on the basis of a bilateral agreement in which the specific terms of such transaction are agreed. As a result of the agreement, the Customer transfers the agreed number of cryptographic assets to the respective Pool and receives the consideration from the Pool in the form of cryptographic assets. SP is not a party to this agreement.
2.6.2 The transaction is always initiated by the Customer submitting to the Pool a specific request to buy or sell one of the Pool's cryptographic assets. The Pool then responds with an offer for a specific number of the Pool's other cryptographic assets to complete the transaction. A time limit is specified until which the offer is valid. The contract is concluded when the Customer transfers the specified number of the other cryptographic asset to the specified wallet of the Pool and receives a number of assets from the pool that have been determined by the smart contract formulas.
2.6.3 When using the automated market maker (AMM) module of the platform, the transaction executes along these lines:
A user choses a trading pair of two crypto assets, for example, Ethereum / Dai (ETH/DAI)
The user then gives the smart contracts permission to interact with the user’s qualified wallet
The platform then queries the smart contract pools for current swap prices and determines the projected price slippage taking the queried swap amount into consideration.
The SP executes Transactions according to its execution policies published on its website or agreed directly with the Customer. The execution policies form part of these special conditions. The SP is entitled to alter the execution policies in line with supervisory rules. The SP will notify the Customer about changes in the execution policies.
The SP executes Transactions in Cryptographic Assets on exchanges for cryptographic assets or peer-to-peer. Purchases and/or sales are subject to the legal provisions and terms of business (market practices) applying to transactions in Cryptographic Assets at such execution venue; in addition, the general terms of business of such SP's counterparty apply.
The SP shall notify the Customer of the execution of the Order without delay.
The SP settles the purchase or sale with the Customer; it is entitled to invoice its fees and expenses including external costs (hereinafter 'Transaction Costs'). Prior to executing the Transaction, the SP communicates the Transaction Costs to the Customer or the Parties have agreed on a different formula for acceptable Transaction Costs.
The SP is only obligated to execute Orders as long as the Customer's balance or the Customer's portfolio holdings available for the Transaction are sufficient to allow execution.
On issuing Orders, the Customer may set the SP price limits for purchases and/or sales (Orders limited in price).
An Order which is not limited in price only applies for one day of trading according to the execution policies; if the Order was not received punctually enough for a same-day transaction as part of the normal workflow, it is noted for the next trading day. If the Order is not executed, the SP shall immediately notify the Customer.
An Order limited in price is valid until the last trading day of the current month (month-end). An Order received on the final trading day of a month, if not executed on the same day, is noted for the next month in accordance with the execution policies. The SP shall immediately notify the Customer of the period for which the Order is valid.
If the fixing of prices at a domestic execution venue does not take place due to special circumstances affecting the issuer (suspension from quotation), all Customer Orders scheduled for execution at this venue shall be suspended for the Cryptographic Assets concerned, if the terms of the execution venue provide for such suspension.
When executing Customer Orders at foreign execution venues, the market practices of the foreign venues apply.
The SP shall notify the Customer without delay of the extinguishment of a Customer Order.
The SP is liable for the due fulfillment of the purchase or sale by its counterparty or the counterparty of the interim agent. Until completion of the purchase or sale, the SP shall only be held liable when commissioning an interim agent for carefully selecting and instructing it.
The SP settles securities trades within the country of Germany unless the following conditions or another agreement provide for purchase abroad.
9.1 The SP accepts liability for intent and gross negligence. The SP's liability is limited to contract-typical damages foreseeable at conclusion of these Special Conditions in case of mildly negligent breach of a main obligation or a secondary obligation, the breach of which endangers the achievement of the contract's purpose, or the fulfillment of which is essential for the proper execution of these Special Conditions, and on the observance of which Customers could reasonably rely ("Essential Secondary Obligation").
9.2 Towards other corporations, the SP is only liable for intent or gross negligence on its part, by their lawful representatives, executive employees or other vicarious agents, except in the case of breaches of material contractual obligations. In the event of a breach of material contractual obligations, the SP shall be liable for any culpable act of its lawful representatives, officers or other employees.
9.3 The SP is not liable for the mildly negligent violation of secondary obligations that are not Essential Secondary Obligations.
9.4 With the exception of tort claims, the Customers' claims for damages with limited liability shall become statute-barred one year after the beginning of the statutory limitation period. As far as the liability of the SP is excluded or limited, the statute of limitations also applies to the personal liability of its employees, other staff and vicarious agents.
9.5 The SP takes all necessary and prudent precautions to safeguard Cryptographic Assets from hacking.
9.6 Force Majeure: The SP is not liable for any damages due to Force Majeure.
9.7 The SP takes all necessary and prudent efforts to provide the Customer with high-level custody services, including applying the necessary diligence in retaining third-party services. The SP accepts no liability for interferences with the normal service level that are not under the control of the SP. It will inform Customers on the website if the service level is interrupted for more than 24 hours.
10.1 The Customer cannot assign or transfer any of its rights, claims or obligations under or in connection with these Special Conditions without prior consent of the SP.
10.2 The SP may at any time assign and transfer its rights, claims and obligations, including by way of assumption of contract (befreiende Vertragsübernahme), under or in connection with these Special Conditions to a person appointed as successor SP under the terms of these Special Conditions. The Customer hereby consents to any such transfer.
10.3 The SP may perform any of their duties or obligations under these Special Conditions through subcontractors or agents (including affiliates), whenever and on such terms and conditions as the SP, in its sole discretion, deems necessary or appropriate to perform such duties or obligations or liabilities; provided, however, that no arrangement with such subcontractor or agent shall discharge the SP from its obligations hereunder.
11.1 The SP reserves the right to change or extend services.
11.2 The SP strives to continuously improve and extend its transaction services. Thus, the SP reserves the right to adapt these Special Conditions from time to time. The updated version of these Special Conditions as published on the website at https://www.swarm-markets.com/ and made known to Customers via email will automatically become part of this agreement if you do not object to the changes within four weeks.
11.3 For all disputes arising from the contractual relationship between the Parties, the Customer agrees that the laws of Germany shall apply, excluding the United Nations Convention on Contracts for the International Sale of Goods.
11.4 The courts of Berlin, Germany have exclusive jurisdiction to settle any dispute arising out of or in connection with these Special Conditions (including a dispute relating to the existence, validity or termination of these Special Conditions or any non-contractual obligation arising out of or in connection with these Special Conditions.
11.5 Should any of the provisions of these Special Conditions be or become invalid or unenforceable in whole or in part, the validity or the enforceability of the remaining provisions shall not in any way be affected or impaired thereby. The invalid or unenforceable provision shall be replaced by a provision that, to the extent legally possible, provides for an interpretation in keeping with the meaning and the economic purposes of these Special Conditions. If these Special Conditions prove to be incomplete, a supplementary interpretation in accordance with the meaning and the purposes under due considerations of the legitimate interest of the Parties shall be applied.
The following Custody Agreement applies to the Custodian's crypto custody service between Swarm Capital GmbH (the "Custodian") and Customer. Customers are requested to read this Agreement carefully to understand which provisions apply to them and how. This Custody Agreement is to be read in conjunction with the Custodian's General Terms of Use, Special Conditions governing Transactions in Cryptographic Assets and Privacy Policy.
Customers are reminded that
they and any and all persons authorized to initiate deposits and withdrawals are required to successfully complete the Custodian's account opening process pursuant to its AML Policy, which may be amended from time to time, before making use of the Custodian's custody services;
they are solely responsible for, and shall pay, all taxes, assessments, duties, and other governmental charges, including any interest or penalty rightfully owed by Customers with respect thereto, with respect to any Custody Assets or any transaction related thereto;
Supported Assets are new forms of assets that the law regarding their ownership, custody, and transfer is developing and uncertain, and that custody of such assets poses certain risks that are not present in the case of more traditional asset classes. Customers will bear such risks and the potential loss or diminution in value of Supported Assets due to changes or developments in the law or conditions under existing law in which Customer's rights in and to such Supported Assets are not adequately protected;
1.1 Capitalised terms used in this Custody Agreement shall have the following meaning:
"Assets" any digital asset, notwithstanding other denominations such as "cryptocurrency", "virtual currency", "digital currency", which is a digital representation of value based on (or built on top of) a cryptographic protocol of a computer network;
"Custody Asset Balance" the quantity of each Custody Asset denominated in the appropriate Supported Asset type;
"Authorised Person" is any person designated by the Customer to have access to the Customer's Custody Account based on the role-based permissions the Customer assigns;
1.2 Interpretation
In this Custody Agreement:
1.2.1 where the context so admits, a reference to the singular includes the plural and vice versa;
1.2.2 any reference to a defined document or provision of statutory law is a reference to that defined document or provision as amended, supplemented, restated or novated from time to time;
1.2.3 headings are for ease of reference only and shall be ignored in the construction of this Agreement;
1.2.4 where a German language term has been added to an English language term, such German term shall be decisive throughout; and
2.1 The Customer hereby appoints the Custodian to act as the custodian of Custody Assets to be held in the Customer's Custody Account in accordance with this Custody Agreement. The Custodian accepts such appointment.
2.2 The Custodian does not provide any investment advice or advice on trading techniques, models, algorithms, or any other schemes.
2.3 Unless provided explicitly in this Custody Agreement, as may be revised from time to time, we will not support any Other Functionality associated with any Custody Assets.
2.4 Custody services may not be used for any unlawful or unauthorized purpose, as determined by Custodian.
3.1 The Custodian shall establish a Custody Account in the name of the Customer. The Custody Account will have one or more associated unique Blockchain Addresses in which the Customer's Custody Assets will be stored. The Custodian shall provide the Customer with all Blockchain Addresses associated with the Customer's Custody Account.
3.2 The attribution of the Custody Assets to the Customer will be clearly recorded in the Custodian's books as belonging to the Customer. The Custodian's records shall at all times provide for the separate identification of the Customer's Custody Assets. The Custodian shall not loan, hypothecate, pledge, or otherwise encumber any Custody Assets in the Custody Account, absent specific instructions from the Customer.
3.3 The Custodian may use its Cold Storage System to custody its own Supported Assets and/or the Supported Assets of third parties; provided that separate Blockchain Addresses are utilized to segregate the Customer's Custody Assets from such other property.
The Custodian has no obligation with respect to any Supported Assets unless such Supported Assets have been Delivered to a Blockchain Address provided by the Custodian. In addition, the Custodian is not required to accept Delivery of any Supported Assets, and has no liability therefor (except, if Delivered by the Customer, to ensure return by Delivery of such Supported Assets to the Customer), if the Custodian believes that the acceptance thereof would or is reasonably likely to expose the Custodian or any of the Custodian's affiliates to any liability (contingent or otherwise).
5.1 Deposits of Supported Assets to a Blockchain Address of the Customer's Custody Account may occur without the Custodian's involvement. Deposits will be credited to the Customer's Custody Account once they are delivered.
5.2 The Customer is asked to only initiate deposits of Supported Assets to a Blockchain Address of their Custody Account when such Blockchain Address and Custody Account is active and compatible with the respective Asset and/or take into account any other notices relevant to the deposit. The Custodian is not liable for the loss of Assets due to the disregard of such obligations or loss of Assets prior to arrival in the Custody Account.
5.3 The Custodian reserves the right to refuse to process, cancel or reverse, any deposit in their sole discretion in accordance with applicable law and this Custody Agreement, even following deposit of Supported Assets in the Customer's Custody Account.
6.1 The Custodian offers (i) a full custody solution and (ii) a multi-sig solution.
6.2 Full custody solution
6.2.1 The Customer submits a Withdrawal Request to the Custodian via
6.2.1.1 the Custodian's Customer Interface; or
6.2.1.2 Email to the following address [email protected], followed by a confirmation of the transaction data via a pre-agreed telephone connection.
6.2.1.3 Or any other method agreed to and verified by the Parties
6.2.2 Following either method, the Authorized Person will receive an email notification or other communication previously agreed to informing them of the Withdrawal Request. The Authorized Person must approve the Withdrawal Request through the Custodian's Customer Interface or via email, depending on the form of Customer's submission ("Withdrawal Confirmation").
6.3 Multi-sig solution
6.3.1 Upon submission of a Withdrawal Request via the Custodian's Customer Interface, all Authorized Persons will receive an email notification informing them of the Withdrawal Request. An Authorized Person (other than the Authorized Person who initiated the Withdrawal Request) must then approve the Withdrawal Request via the Custodian's Custody Interface ("Withdrawal Confirmation").
6.3.2 If only one Authorized Person is designated on an Account, a Withdrawal Request will be approved.
6.4 Once a Withdrawal Confirmation has been made, the Customer's Withdrawal Request will be processed within one Business Day of the next Cut-Off-Time.
6.5 With respect to the Custodian's Customer Interface and use of correct email address and other credentials, the Custodian cannot authenticate whether or not the Withdrawal Request originated from an Authorized Person. As such, Custodian may rely upon any action that they believe in good faith to have been taken by an Authorized Person. It is the Customer's sole responsibility to protect and secure their user name, password and other credentials from unauthorized use and disclosure.
6.6 Any Withdrawal Request from Customer's Custody Account shall only request delivery of Custody Assets to a wallet that is attributed and has previously been verified to the Customer or an Authorized Person and controlled by these. The Customer shall upon the Custodian's request evidence such attribution and control.
6.7 The Custodian has the right to refuse to execute any Withdrawal Request that the Custodian believes to (potentially) be in violation of any Applicable Laws and Regulations.
7.1 The fee denominated in the respective Custody Asset type (the "Custody Fee") is: (i) calculated on a daily basis at 4:00pm CET; and (ii) accrues each calendar day against the respective Custody Asset Balance beginning on the day the Supported Assets were Delivered to the Custodian (i.e., becoming Custody Assets).
7.2 The Custodian will deduct the Custody Fee from the Custody Assets the Custodian holds on the Customer's behalf on a monthly basis, on or around the last Business Day of every calendar month, or more frequently, in the Custodian's sole discretion. The Custodian will deduct the accrued and uncollected Custody Fee from the Assets the Custodian holds on the Customer's behalf any time the Customer's Custody Asset Balance falls below the accrued but uncollected Custody Fee, including when the Customer withdraws its Custody Assets.
7.3 The Custodian may deduct an administrative withdrawal fee (the "Administrative Withdrawal Fee") in connection with a Withdrawal Request and in accordance with the Custody Fee Schedule.
7.4 The Custody Fee Schedule is incorporated by reference and is made available here: https://www.swarm.com
7.5 The Custodian reserves the right to change, modify, or increase the Custody Fee Schedule at any time. Any change to the Custody Fee Schedule will be posted at least three calendar days prior to taking effect and no change will be in effect for less than 30 calendar days.
7.6 The Custodian maintains the right to retain or set-off any matured obligation due from a Customer against any Custody Assets (or the value thereof, as reasonably determined in the Custodian's sole discretion) or any other satisfiable (erfüllbar) obligation (within the meaning of Section 387 German Civil Code (§ 387 BGB)) against any obligations that the Customer may have to the Custodian. If the obligations are in different currencies or Supported Assets, the Custodian may convert either obligation at a market rate of exchange in its usual course of business for the purpose of the set-off.
8.1 Forks may result in Forked Networks and the Custodian holding an identical amount of Custody Assets associated with each Forked Network.
8.2 Underlying protocols of Supported Assets are subject to changes in operating rules (each a "Fork") that may result in more than one version (each, a "Forked Network") and the Custodian holding an identical amount of Custody Assets associated with each Forked Network. Forks may materially affect the value, function, and/or name of the Custody Assets.
8.3 In the event of a Fork, Custodian may temporarily suspend the operations of the custody service (with or without advance notice to Customers) while the Custodian chooses, in its sole discretion, except as described herein, which Forked Networks to support. In our best estimation the Custodian is unlikely to support most Forked Networks and the Custody Assets of most Forked Networks will likely not be made available to Customers.
8.4 Digital asset values can fluctuate substantially which may result in a total loss of the value of digital assets held by the Custodian on the Customer's behalf. The supply of digital assets available to the Custodian to provide to Customers as a result of a forked network and our ability to deliver digital assets resulting from a forked network may depend on third party providers that are outside of the Custodian's control. The Custodian does not own or control any of the protocols that are used in connection with digital assets and their related digital asset networks, including those resulting from a forked network. Accordingly, the Custodian is not liable regarding such protocols and any change in the value of any digital assets (whether of a forked network or otherwise), and does not make any guarantees regarding the security, functionality, or availability of such protocols or digital asset networks.
8.5 The Custodian shall deduct a Daily Fee from the Custody Assets of each Supported Forked Network held by the Custodian on the Customer's behalf pursuant to the Custody Fee Schedule.
The Custodian provides the Customer with an itemized account statement ("Custody Statement") monthly via the Custodian's Consumer Interface or via email, which will list the accrued Daily Fees for the Custody Assets.
10.1 The Custodian may cancel the deposit or withdrawal process at any time. Reasons for cancellation include, but are not limited to, technical error, market abuse, manipulation, prohibited activities and other circumstances referred to in Section 11 of this Custody Agreement.
10.2 Customers are entitled to refunds. Refunds may not be granted where the Customer is solely responsible for the cancellation or Assets are linked to criminal activity. The Custodian may deduct all fees and charges due from any refund.
10.3 In case the Custodian transfers to the Customer any excess Supported Assets that the Customer is not entitled to, the Customer agrees to inform the Custodian and transfer back that excess amount without undue delay.
The Custodian has the right to suspend and/or terminate the custody services under this Custody Agreement pursuant to the account suspension and account termination provisions of the General Terms of Use.
12.1 The Custodian accepts liability for intent and gross negligence. The Custodian's liability is limited to contract-typical damages foreseeable at conclusion of this Custody Agreement in case of mildly negligent breach of a main obligation or a secondary obligation, the breach of which endangers the achievement of the contract's purpose, or the fulfillment of which is essential for the proper execution of this Custody Agreement, and on the observance of which Users could reasonably rely ("Essential Secondary Obligation").
12.2 Towards other corporations, the Custodian is only liable for intent or gross negligence on its part, by their lawful representatives, executive employees or other vicarious agents, except in the case of breaches of material contractual obligations. In the event of a breach of material contractual obligations, the Custodian shall be liable for any culpable act of its lawful representatives, officers or other employees.
12.3 The Custodian is not liable for the mildly negligent violation of secondary obligations that are not Essential Secondary Obligations.
12.4 With the exception of tort claims, the Customers' claims for damages with limited liability shall become statute-barred one year after the beginning of the statutory limitation period. As far as the liability of the Custodian is excluded or limited, the statute of limitations also applies to the personal liability of its employees, other staff and vicarious agents.
12.5 The Custodian takes all necessary and prudent precautions to safeguard Custody Assets from hacking.
12.6 Force Majeure: The Custodian is not liable for any damages due to Force Majeure.
12.7 The Custodian takes all necessary and prudent efforts to provide the Customer with high-level custody services, including applying the necessary diligence in retaining third-party services. The Custodian accepts no liability for interferences with the normal service level that are not under the control of the Custodian. It will inform Customers on the website if the service level is interrupted for more than 24 hours.
13.1 The Custodian keeps and maintains, or causes to be kept, accurate books and records with respect to any Custody Account and Custody Assets, including with respect to the receipt and withdrawal or transfer thereof.
13.2 The Custodian maintains a commercially reasonable system for (i) recovery, in case of disaster, of all of its records associated with the Customers' Custody Accounts, and (ii) the continued provision of the services under this Custody Agreement in the event of any Downtime and Maintenance.
14.1 The Customer shall not assign or transfer any of its rights, claims or obligations under or in connection with this Custody Agreement without prior consent of the Custodian.
14.2 The Customer may at any time assign and transfer its rights, claims and obligations, including by way of assumption of contract (“befreiende Vertragsübernahme”), under or in connection with this Custody Agreement to a person appointed as successor Custodian under the terms of this Custody Agreement. The Customer hereby consents to any such transfer.
14.3 The Custodian may perform any of their duties or obligations under this Custody Agreement through subcontractors or agents (including affiliates), whenever and on such terms and conditions as the Custodian, in its sole discretion, deems necessary or appropriate to perform such duties or obligations or liabilities; provided, however, that no arrangement with such subcontractor or agent shall discharge the Custodian from its obligations hereunder.
15.1 The Custodian reserves the right to change or extend services, notably its Customer Interface.
15.2 The Custodian strives to continuously improve and extend its custody services. Thus, the Custodian reserves the right to adapt this Custody Agreement from time to time. The updated version of the Custody Agreement will be made known to Customers via email or the website and will automatically become part of this agreement if the Customer does not object to the changes within four weeks.
15.3 For all disputes arising from the contractual relationship between the Parties, the Customer agrees that the laws of Germany shall apply, excluding the United Nations Convention on Contracts for the International Sale of Goods.
15.4 The courts of Berlin, Germany have exclusive jurisdiction to settle any dispute arising out of or in connection with this Custody Agreement (including a dispute relating to the existence, validity or termination of this Custody Agreement [or any non-contractual obligation arising out of or in connection with this Custody Agreement].
15.5 Should any of the provisions of this Custody Agreement be or become invalid or unenforceable in whole or in part, the validity or the enforceability of the remaining provisions shall not in any way be affected or impaired thereby. The invalid or unenforceable provision shall be replaced by a provision that, to the extent legally possible, provides for an interpretation in keeping with the meaning and the economic purposes of this Custody Agreement. If this Custody Agreement proves to be incomplete, a supplementary interpretation in accordance with the meaning and the purposes under due considerations of the legitimate interest of the Parties shall be applied.
15.8 The Custodian hereby informs the Customer that business-related and business necessary data will be collected, stored and processed within the scope of the German data protection laws. For further information on data protection please refer to the Privacy Policy as published on the website at https://www.swarm.com/privacy.
As of 11/20/2023
Swarm welcomes your questions or comments regarding these Terms via email at
otherwise breaches essential contractual obligations or repeatedly breaches contractual obligations; or
endangers the claims and interests of Swarm Markets in such a way that Swarm Markets’ financial situation deteriorates substantially or is seriously endangered.
The application of section 536a para. 2 of the German Civil Code (BGB) (“Customer’s right of self-removal”) is excluded.
Also excluded is the application of section 536a para. 1 of the German Civil Code (BGB) (“Liability for damages of the provider“), to the extent this section provides for a liability independent of fault, unless it is a case of injury to life, body, health.
SP does not own or control the underlying software protocols of networks which govern the operation of Cryptographic Assets, (ii) SP makes no guarantees regarding their security, functionality, or availability, and (iii) in no event shall the SP be liable for or in connection with any acts, decisions, or omissions made by developers or promoters of such Cryptographic Assets;
SP retains external server, telecommunication and other infrastructure providers that are selected with great diligence based on state-of-the-art technical capabilities. Malfunctions, failures and breakdowns of such external systems may affect the services and the connected or underlying systems;
there is a risk of hacking that even a high level of diligence cannot completely exclude. Hacking may affect the functioning of the custody service and the connected or underlying systems;
they are solely responsible for obtaining all regulatory licenses, approvals and consents as applicable to their business, SP is only responsible for compliance with regard to their transaction services. Without limiting the generality of the foregoing, you will not use the services provided by us hereunder in any manner that is, or would result in, a violation of any applicable laws and regulations.
The user then executes the swap trade using the AMM mechanism, where trades are effectively swaps of one token into another within the smart contract pool
The transaction is executed with the user signing a transaction, such that the desired swap-in assets net of Swarm protocol fees are transferred into smart contract pool
The swap-out assets are then transferred from the pool smart contract into the user’s wallet which successfully concludes the trade. The amount is determined by the pool smart contract applying a fixed applied formula (e.g. k=x*y, so k demands that the amount of liquidity remains constant and x and y being the assets in the pool). Therefore, by adding swap-in tokens, one side of the pool is increased and the other decreased (removing swap-out assets). The algorithm divides the pool's total liquidity by the new amount of swap-in assets in the pool, then divides that by the new amount of asset balances in the pool so that (k / y) / x = price. This implicitly determines the price paid for the swap-in asset, which will further increase the more swap-in assets are swapped from the pool in subsequent swap trades.
In the AMM, swap trades are made against the entirety of the pool, effectively against a prorated portion of assets held by all liquidity providers (“LPs”). LPs add assets to liquidity pools by providing token pair(s) and can withdraw their prorated portion of pool assets at any time.
Custodian does not own or control the underlying software protocols of networks which govern the operation of Supported Assets, (ii) Custodian makes no guarantees regarding their security, functionality, or availability, and (iii) in no event shall Custodian be liable for or in connection with any acts, decisions, or omissions made by developers or promoters of such Supported Assets;
the Custodian retains external server, telecommunication and other infrastructure providers that are selected with great diligence based on state-of-the-art technical capabilities. Malfunctions, failures and breakdowns of such external systems may affect the Services and the connected or underlying systems;
there is a risk of hacking that even a high level of diligence cannot completely exclude. Hacking may affect the functioning of the custody service and the connected or underlying systems;
they are solely responsible for obtaining all regulatory licenses, approvals and consents as applicable to their business, Custodian is only responsible for compliance with regard to their custody services. Without limiting the generality of the foregoing, the Customer may not use the services provided by the Custodian hereunder in any manner that is, or would result in, a violation of any applicable laws and regulations.
"Blockchain Address" a public address on a blockchain in which Assets can be held (including, but not limited to, a Bitcoin address for the Asset commonly known as Bitcoin and an Ethereum address for the Asset commonly known as Ether);
"Cold Storage System” the proprietary offline storage system that the Custodian uses to custody the Customer's Custody Assets;
"Custody Asset" any Supported Assets that have been Delivered to the Custodian to be held in a Custody Account established by the Custodian on the Customer's behalf (as described in the 'Custody Account' section), in each case until such Custody Assets are withdrawn or cease to be Custody Assets pursuant to this Custody Agreement. Custody Assets shall also mean any Asset resulting from Forks that the Custodian, in their sole discretion, deemed to be a Supported Asset;
"Customer Interface" the Custodian's interface potentially to be provided in the future on the Custodian's website at https://custody.swarm-capital.com or https://www.custodl.com that allows for Custody Account actions including, but not limited to, the ability to view balances and request and approve withdrawals;
"Cut-Off Time" 6:00pm CET each Business Day;
"Delivery" (or "Deliver", "Delivering" or "Delivered") the transfer of Supported Assets to one or more Blockchain Addresses controlled by the receiving Party and provided by the receiving Party to the sending Party for such transfer. Supported Assets will only be considered Delivered to the Custodian after the required number of network confirmations, as determined by the Custodian in its sole discretion, have occurred on the blockchain for such Supported Assets;
"Effective Date" the date of Delivery of Supported Assets from the Customer to the Custodian;
"Other Functionality" functionality that may be associated with certain Custody Assets including, but not limited to, staking, protocol governance, smart contract functionality, and other similar uses;
"Parties" (each, individually a "Party") means the Customer and the Custodian;
"Supported Asset" any Asset with regard to which Custodian offers its services
"Withdrawal Request" a request sent to the Custodian by the Customer that specifies the type and amount of Custody Assets to be withdrawn from the Customer's Custody Account and the destination Blockchain Address.
