What IsTrustSwap? (SWAP)

TrustSwap is a platform that offers DeFi tools for token holders and businesses to trade, create, and secure crypto assets. As per its whitepaper, the platform aims to become the go-to defi ecosystem for all smart-contract services, such as token locks, crypto subscriptions, event releases, cross-chain integration, etc. Cross-chain refers to a technology enhancing the interconnection between blockchain networks by allowing the exchange of information and value. Further, the forum seeks to automate and simplify the transaction process between people and organizations globally via well-built defi applications without middlemen or third-party intermediaries. 

TrustSwap intends to offer solutions to various problems, which include:

• High transaction fees while making financial transactions with a new party or multiple parties.

• High costs associated with setting up distribution and launching the token when new blockchain projects with an initial offering are released.

• Costly agreements and subscription services

• Scams

• Big whales dumping their tokens and crashing a token price, creating an insecurity of most projects.

Therefore, amongst the solutions offered by TrustSwap are sending tokens to a SmartLock and locking the funds in portions for an allocated amount of time, creating their own peer-to-peer option agreements and setting up recurring payments, etc.

SWAP is the ecosystem’s native currency, built on the Ethereum blockchain, and thus is an ERC-20 token. The token can be used for discounts on services, dividends from staking, and as a governance token for voting on how the foundation funds are spent.

History of TrustSwap (SWAP)

TrustSwap’s whitepaper was released in July 2020. The platform’s team comprises three founding partners, including Jeff Kirdeikis, the founder and CEO of Uptrend, a blockchain-based social media platform. Adam Barlam, developer and founder of blockchain projects, such as Bravocoin. Adam has eight years of experience at GoDaddy and Intel. Joaquim Miro has a marketing background at L’Oréal and Bombardier. Apart from them, other team members include Michael Gu, Ivan Liljeqvist, and Mauvis Ledford. 

The token’s total supply is 100,000,000 SWAP.