In the past few weeks we have been receiving several queries from users and non-users of our platform, regarding the Swaap Bounty Campaign, so we have decided to issue this disclaimer, so users can be aware of how we are positioned to answer your questions in relation to this matter.
Nova Bank is completely independent from Swaap
To start with, users need to understand that Swaap and Nova Bank are completely independent from each other, and we are not the same company. Nova Bank uses the technology created by Swaap to run some of its features, and offers support to both their main and governance tokens – as we will now to with Bitcoin, Ethereum, and Binance. Therefore, we are limited in what we can really advise in relation to anything that relates to their internal policies, procedures, or products, and if your question relates directly to their project, you will be better off sending it to them, so you can have it answered faster.
Nova Bank and the bounty campaign distribution
We have partnered with Swaap to distribute their bounty campaign stakes, and that is the only thing we will do. We cannot advise on anything relating to the counting of the stakes, ways to exchange their tokens outside our platform, the management of the campaign, or anything else that doesn’t relate directly to our platform. It is also important to say that all distribution is being done manually, and we did not commit with Swaap to any finishing date, or deadline to finalise it. It will be done in accordance to the resources we have available, and we are sending a weekly spreadsheet to the Swaap management, with access credentials of those stakes that have been distributed in that given week – what happens from this point on, is completely outside of our control. So please be aware that we cannot answer questions such as “When my stakes will be distributed?”, simply because it falls outside the scope of our partnership with Swaap.
Fees and procedures to withdraw
Bounty campaign participants will incur on the exact same fees as any other users from Nova Bank, which in fact means that, yes, you will be paying a fee to withdraw your token, and that fee is used towards paying network fees and our overheads to process your withdraw request. Doing it any different, would effectively mean that we would be agreeing on paying for all the distribution process on behalf of Swaap, which we have not agreed to. The only exception to the rule will be that Swaap’s bounty campaign participants, will not have to submit a full KYC form in order to withdraw their tokens.
Bounty accounts – how will it work?
All accounts used for bounty distribution will be semi-temporary accounts. What it means is that they are intended to be used and disposed, but if you want to, you can submit your KYC information and make it your permanent account if so you want. There will be different accounts for different campaigns, and you might receive multiple credentials if you have participated in multiple campaigns – eg. users who participated in the Facebook and Twitter campaign, will receive one credential for each one of those. The responsibility of sending these access credentials to the users is entirely of Swaap, and we cannot advise on when or how you will receive them.
What we recommend, is that you create your own Nova Bank account, and once you receive your stakes, you transfer them from your temporary to your own account. There are no fees on transfers between Nova Bank users, so you can transfer your stakes to one account to another, without having to pay anything.
We have been inundated with questions related to the Swaap Bounty Campaign, most of which we cannot answer. It has been putting pressure in our staff and limited workforce, and we want to avoid that. We ask for all bounty participants to only send us questions that relates to our platform, and avoid sending unnecessary queries. Swaap is a great partner of ours, but they are not us, and we are not them, and we can only do so much to help you with matters not related to our own business.
If you have any questions relating to the usage of our platform, please use our contact channels to get in touch.