What is TrustSwap?
The TrustSwap token or SWAP is a utility token native to the TrustSwap platform. It’s deployed on Ethereum, BNB Chain, Polygon, and Avalanche.
SWAP has more than one use case, however, it’s mainly used as a medium of exchange. It can be used to buy goods via Shopping.io. or to cover transaction fees. Users who choose to cover transaction fees in SWAP receive a discount of 50%.
It also serves as an incentive for completing certain actions on TrustSwap such as staking and yield farming. In addition, SWAP holders receive governance rights.
TrustSwap token is considered a deflationary token. This is because 10% of all transaction fees are burned.
There is a max cap of 100,000,000 SWAP tokens which makes the token supply deflationary. Technically, if the demand for the SWAP tokens becomes high, the price of SWAP tokens should increase.
You can purchase TrustSwap tokens on major supported exchanges. Check out our list of recommended exchanges for purchasing SWAP in the section above.
Before making any purchase decisions, however, keep in mind that SWAP is a cryptocurrency and, as such, experiences periods of volatility. To put it simply, the SWAP price tends to fluctuate. Thus, it’s crucial to do proper research before diving into any cryptocurrency project.
What are the Main Features of TrustSwap?
TrustSwap describes itself as a “DeFi ecosystem”. In essence, it’s a multi-function platform offering a variety of decentralized finance (DeFi) products and services for people and businesses alike.
SmartLaunch, SmartSwap, Swappable, staking pools, a launchpad, and a mobile cryptocurrency tracker, the Crypto App, are some of the core products offered on the TrustSwap platform.
For instance, SmartSwap is a non-custodial platform that facilitates P2P and OTC transactions without intermediaries and their inflated transaction fees. On the other hand, Swappable is an NFT creator with an integrated NFT marketplace.
TrustSwap’s launchpad is unique in the way that it allows customization. In addition, eligible TrustSwap token stakers are guaranteed token allocations. The launchpad has helped raise more than 25,000,000 US Dollars for a variety of different crypto projects.
One of the primary goals of the project is to tackle issues related to DeFi payments via customizable transactions.
For instance, its swaps service enables users to wrap their cryptocurrency into a token based on an ERC-20 standard which can then be used on the Ethereum blockchain itself.
Other features of the platform include yield farming pools, token, liquidity and vesting lock-up vaults, and even a minting solution that enables projects to create their own unique tokens.
Who Developed TrustSwap?
The TrustSwap crypto project was co-founded by Jeff Kirdeikis and Adam Barlam in mid-2020.
Jeff Kirdeikis is a blockchain entrepreneur and TrustSwap isn’t his first rodeo. In 2018, Kirdeikis founded Uptrennd - a social media platform powered by blockchain technologies. Prior to that, he hosted the Bitcoin and Crypto Podcast. Currently, Kirdeikis serves as the CEO of TrustSwap.
Similarly, Adam Barlam has several blockchain-based projects under his sleeve. Soon after the launch of TrustSwap, he founded Chain Games - a GameFi platform that lets players compete and earn crypto rewards. Barlam was also part of the founding team at DecentraWeb - a type of blockchain DNS. When it comes to TrustSwap, he currently serves as a technical advisor.
The rest of the core team consists of more than 70 professionals that come from both crypto and non-crypto fields. They have worked with top companies such as Coinmarketcap, GoDaddy, and Intel, among many others.
If you’re considering purchasing TrustSwap tokens, don’t forget to analyze the SWAP price chart above before making your final decision.
