The information about Solar (SXP) token is:

Solar (SXP) is an ERC-20 token initially launched on the Ethereum blockchain before transitioning to its own native Layer-1 blockchain, known as the Solar Network, following a mainnet launch on March 28, 2022. While originally an Ethereum-based token, this response focuses on its Ethereum origins as specified.

The SXP token serves as the native utility token of the Solar ecosystem, which evolved from the Swipe project—a platform aimed at bridging fiat and cryptocurrency payments through wallets and debit cards—after its acquisition by Binance in July 2020.

On Ethereum, SXP was designed to power the Swipe Wallet, enabling users to buy, sell, and pay with cryptocurrencies, convert them to fiat, purchase gift cards, and perform instant exchanges between supported assets, all facilitated by Ethereum’s smart contract capabilities.

The token’s total supply is approximately 607 million SXP, with the Ethereum version requiring a 1:1 swap to the native SXP coin on the Solar mainnet, a process supported until June 30, 2023, after which legacy ERC-20 tokens were no longer convertible via the official swap portal.

SXP’s utility on Ethereum included paying transaction fees within the Swipe ecosystem, with 80% of network and transaction fees burned to reduce supply and 20% retained by the company, alongside requiring a 1 SXP deposit to activate wallet functionalities.

The project was founded by Joselito Lizarondo and Nayiem Willems in 2018, initially as Swipe, with a mission to streamline crypto payments; post-Binance acquisition, it rebranded to Solar, emphasizing a community-driven, decentralized blockchain ecosystem.

As an ERC-20 token, SXP leveraged Ethereum’s robust security and interoperability, allowing integration with decentralized applications (dApps) and wallets like MetaMask, with its smart contract address listed as 0x8ce9137d39326ad0cd6491fb5cc0cba0e089b6a9.

The Solar Network, while now independent, retains SXP’s roots in Ethereum, where it supported features like tiered rewards based on holdings and governance participation, though its full governance model matured after the transition to a Delegated Proof-of-Stake (DPoS) system on its own chain.

Posts on X and web sources note that SXP’s Ethereum phase laid the groundwork for its broader ambitions, including creating tokens and NFTs via the Side Ledger Protocol, with tools like the Solar Desktop Wallet enabling easy token creation on the original Ethereum framework.