Swipe was a crypto payments company whose Visa debit cards let people spend crypto balances as fiat. SXP was its token. Today SXP is the native coin of Solar, a separate delegated proof-of-stake blockchain that went live in March 2022. The newest development comes from the Solar Foundation's own record. In January 2026 the Foundation said no further protocol development was planned. A validator vote on 27–30 January 2026 on an optional migration framework failed for lack of quorum. SXP has also lost its largest trading venues: South Korean exchanges delisted it in March 2025, and a major global exchange ended SXP spot trading on 1 April 2026.
Where SXP stands now (2026)
January 2026: development stops and a migration vote fails
According to the Solar Foundation:
- No more protocol work. A January 2026 status update said no further protocol updates were planned. It also said that prospective successor teams declined after due diligence.
- The vote. Proposal SXP-GOV-2026-01, "Optional Migration Framework & Transition Process", went to validators from 27 to 30 January 2026. It was a non-binding signalling vote. It asked only for approval to design a voluntary migration framework. It would not have executed a migration, changed token economics or required holders to act.
- The result. 28 validators voted yes, 0 voted no, 1 abstained and 24 did not vote. That is 54.7% participation against a required 67% quorum, so the proposal was rejected even though every vote cast was in favour.
- No successor. The Foundation states that no Solar assets, code, governance authority or infrastructure have been transferred to any successor.
A separate project involving former Solar contributors, Monolythium (LYTH), has been discussed as a possible successor. Secondary reports say Solar's own pages describe it as not a continuation of Solar, with no automatic entitlement for SXP holders.
Delistings
- March 2025: South Korea's main exchanges ended SXP trading. The Foundation's history page records this, and secondary reports put the end of trading at 06:00 UTC on 13 March 2025. These reports also mention an earlier investment warning issued through the Digital Asset eXchange Alliance (DAXA).
- 1 April 2026: The exchange that acquired Swipe in 2020 ended SXP spot trading. Secondary reports dated March 2026 say it removed eight tokens after a periodic review of listing standards.
Signs of activity
The Solar organisation on GitHub still lists its core repository, last updated 15 May 2026, and its peer-discovery repository, last updated 21 June 2026. By late October 2026 the Solar explorer, documentation and proposals sites were offline, and solar.org showed only a contact form.
What Swipe built (2018–2021)
- The product. Swipe ran a wallet app and Visa debit cards that converted crypto to fiat at the point of sale. When it was acquired in July 2020, it supported more than 20 cryptocurrencies and was available in 31 European Economic Area countries. The cards were issued by Contis.
- The acquisition. A large global crypto exchange announced its acquisition of Swipe on 6 July 2020 and did not disclose the price. Reports at the time described it as a majority stake. In December 2021 the acquirer said it would buy the remaining shares, and Swipe's CEO, Joselito Lizarondo, would step down once the deal closed.
- Swipe's site today. swipe.io still describes "Card Payment Infrastructure for Cryptocurrencies" and carries a 2018–2021 copyright line.
Which SXP do you hold, and what does the article say about it?
Pick the version of SXP you hold to see what the article reports about it in 2026.
Which version of SXP do you hold?
- ERC-20 SXP on Ethereum → next question
- BEP-20 SXP on BNB Smart Chain → next question
- Native SXP on the Solar chain → next question
- I am not sure → SXP exists on three chains
Are you relying on the official 1:1 swap from Swipe tokens to native Solar SXP?
Has a site or account promised you a guaranteed migration, airdrop or successor token for your SXP?
SXP on Ethereum or BNB Smart Chain is separate from native Solar SXP. The official 1:1 swap depended on infrastructure that is now offline, and in January 2026 the Solar Foundation said no further protocol updates were planned.
The Solar Foundation states that no Solar assets, code, governance authority or infrastructure have been transferred to any successor. Monolythium (LYTH) is not verified as a successor, and secondary reports say there is no automatic entitlement for SXP holders. The article advises caution towards any guaranteed migration or airdrop.
The 27–30 January 2026 vote on an optional migration framework failed: 54.7% participation against a required 67% quorum. South Korean exchanges delisted SXP in March 2025, and spot trading on a major global exchange ended on 1 April 2026. On 25 October 2026 the Solar explorer, documentation and proposals sites did not resolve, so current block production could not be confirmed.
SXP launched as an ERC-20 token on Ethereum, also exists as a BEP-20 token on BNB Smart Chain, and has been the native coin of Solar since its mainnet launched on 28 March 2022. The Foundation's FAQ reported about 285.4 million, 289.7 million and 684 million SXP on these three chains. Only the Ethereum figure is verified here.
This sorts holders only by what the article reports. It cannot check your wallet, confirm whether the Solar network is producing blocks, or tell you what to do with your tokens.
From an ERC-20 token to the Solar chain
- Original token. SXP launched as an ERC-20 token on Ethereum. As of October 2026, the Etherscan contract page shows a total supply of 285,368,788.74 SXP and 24,025 holders. A BEP-20 version also exists on BNB Smart Chain.
- Solar mainnet. The Foundation dates the Solar mainnet launch to 28 March 2022. Swipe tokens were swapped for native Solar SXP at a 1:1 ratio, keeping the ticker. Solar's GitHub organisation hosts the "Audited Swap Contracts for the Swipe to Solar mainnet migration".
- How Solar works. Solar's documentation says its core is forked from ARK Core and uses delegated proof of stake. SXP holders vote for elected block producers; the January 2026 vote counted 53 of them. The documentation says 90% of each transaction's fees are burned and 10% go to the delegate that forges the block.
Supply questions
The Solar Foundation's FAQ reported about 285.4 million SXP on Ethereum, about 289.7 million on the BNB Smart Chain token, and about 684 million on the native Solar chain. That means hundreds of millions of tokens still sit on the older chains alongside the native supply. The Foundation linked this to infrastructure it says was run by the acquiring exchange, including treasury custody and card-fee changes. It acknowledged that its account was not independently confirmed and that the other parties had not responded publicly.
Corrections to older descriptions of SXP
- "Secured by Ethereum's proof-of-work." This is outdated. Ethereum moved to proof-of-stake on 15 September 2022, and native SXP now runs on Solar's own chain.
- "Can be mined." This is wrong. Solar uses delegated proof of stake: elected block producers forge blocks, and no one mines SXP.
- The Swipe card, Swipe Swap and Swipe Ignition products. These belong to the 2020–2021 era, before the move to Solar.
What this means for holders
If you hold SXP on Ethereum or BNB Smart Chain, those tokens are separate from native Solar SXP. The official 1:1 swap path depended on infrastructure that is now offline. Treat any site or account that promises a guaranteed migration or airdrop with caution. The Foundation says no successor has inherited Solar's assets or governance.
