Trustswap

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Discover Trustswap's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Trustswap?

TrustSwap (SWAP) is a cryptocurrency token that powers a decentralized finance (DeFi) platform. It offers various tools and services, including token creation, staking, escrow, and launchpad solutions, aiming to accelerate the transition to Web3. The token can be used for staking, earning rewards, and participating in governance, with a total supply of 100 million SWAP tokens.

How is Trustswap used?

TrustSwap (SWAP) is a decentralized finance (DeFi) project that offers a suite of services designed to enhance the security and efficiency of cryptocurrency transactions. The native token, SWAP, plays a central role in the ecosystem, providing various benefits to users. Here are some key ways SWAP is used:

Staking and Rewards
  • Staking: Users can stake SWAP tokens to earn rewards, which incentivizes holding and reduces the circulating supply. Stakers receive a guaranteed allocation for promising DeFi project tokens and can participate in the launchpad by staking at least 4,000 SWAP tokens or earning a 2,500 SwapScore (a 60-day rolling average of SWAP staked on the TrustSwap dashboard).

  • Staking Rewards: 80% of all fees paid on the TrustSwap ecosystem are used as staking rewards. Additionally, 10% of the fees are burned, making the SWAP token more scarce.

Governance and Fees
  • Governance: SWAP holders participate in the governance of the TrustSwap platform, allowing them to propose and vote on key decisions and changes.

  • Fees and Discounts: SWAP tokens are used to pay for services within the TrustSwap ecosystem, such as SmartLock and SmartSwap. Holding SWAP tokens can also grant users discounts on these services.

Escrow Swaps and Trading
  • Escrow Swaps: TrustSwap offers a P2P escrow smart contract service that allows users to swap tokens securely without intermediaries. Users can trade ETH or any ERC20 token with customizable swap parameters, ensuring trustless and secure transactions.

  • The Crypto App: TrustSwap purchased The Crypto App, which offers portfolio tracking, a crypto news feed, and charting platform. Users can set up alerts to follow price movements and enable push notifications. The SWAP token is the main utility token of the exchange, generating revenue for TrustSwap.

NFT Platform
  • Swappable: TrustSwap has an NFT trading platform called Swappable, where users can find and invest in unique digital art and niche tokens from renowned artists.
Launchpad and Token Distribution
  • Launchpad: TrustSwap provides a platform for launching new crypto projects on various chains. Projects undergo thorough evaluation before being added to the platform, ensuring reliability and security for stakers.

  • Token Distribution: SWAP tokens were distributed through private sales, public sales, and allocations for the team, advisors, and community incentives. The distribution model was structured to ensure decentralized ownership and governance.

Overall, SWAP is a versatile token that supports various aspects of the TrustSwap ecosystem, from staking and governance to fees, trading, and NFTs.

How do I store Trustswap?

To store TrustSwap (SWAP) tokens, you have several options:

  1. Centralized Exchange (CEX): You can hold your SWAP tokens on a centralized exchange like KuCoin. This provides easy access to various investment products and features, such as spot trading, futures trading, staking, and lending. The exchange will securely hold your funds, but you will need to follow their security protocols and maintain your account.

  2. Decentralized Exchange (DEX): You can store your SWAP tokens on a decentralized exchange, which offers more privacy and control over your assets. You will need to use a self-custodial wallet, ensuring you have full custody of your crypto assets.

  3. Crypto Wallet: You can store SWAP tokens directly in a reliable and reputable crypto wallet that supports TrustSwap. This allows you to manage your tokens independently and securely. Make sure to follow the wallet's security guidelines and keep your seed phrase safe.

  1. Trust Wallet: Trust Wallet is a popular option for storing and swapping tokens. It offers a user-friendly interface and supports both same-chain and cross-chain swaps. Ensure you have the latest version of the app and follow the wallet's security guidelines.

Regardless of the method you choose, it is essential to maintain strong security practices, such as enabling two-factor authentication, using secure passwords, and keeping your seed phrase or recovery information safe.

How to buy Trustswap?

To buy TrustSwap (SWAP) tokens, you can follow these steps:

  1. Choose a Centralized Exchange (CEX):

    • Select a reliable and trustworthy crypto exchange that supports TrustSwap (SWAP) purchases. Consider factors such as ease of use, fee structure, and supported payment methods.
  2. Create an Account:

    • Enter the required information and set a secure password. Enable two-factor authentication (2FA) using Google Authenticator and other security settings to add an extra layer of security to your account.
  3. Verify Your Identity:

  • Complete Know Your Customer (KYC) verification, which may require different information based on your nationality and region. This step is necessary to access more features and services on the platform.
  1. Add a Payment Method:

    • Follow the exchange's instructions to add a credit/debit card, bank account, or other supported payment methods. The required information may vary depending on your bank's security requirements.
  2. Buy TrustSwap (SWAP):

    • Use fiat currency to purchase TrustSwap (SWAP) if supported by the exchange. Alternatively, you can buy a popular cryptocurrency like USDT and then exchange it for TrustSwap (SWAP).
Alternative Method: Buying via a Crypto Wallet
  1. Choose a Crypto Wallet:

    • Select a reliable and reputable crypto wallet that supports TrustSwap (SWAP).
  2. Download and Set Up the Wallet:

    • Download the wallet application and create a new wallet address or import an existing one. Make sure to write down the seed phrase and keep it secure.
  3. Buy TrustSwap (SWAP):

  • Purchase TrustSwap (SWAP) using a supported payment method. Check the fees, as they may be higher than those charged by exchanges.
  1. Swap for TrustSwap (SWAP):
    • If your wallet doesn’t support direct fiat-to-SWAP purchases, you can first buy a popular cryptocurrency like USDT and then exchange it for TrustSwap (SWAP) through your crypto wallet or on a decentralized exchange (DEX).
Decentralized Exchange (DEX) Method
  1. Download a Trust Wallet:

    • Download the Trust Wallet application, which supports the Ethereum network.
  2. Set Up the Wallet:

    • Register and set up the crypto wallet via the wallet’s Google Chrome extension or mobile app. Keep your seed phrase safe and note your wallet address.
  3. Buy ETH:

  • Buy Ethereum (ETH) on a centralized exchange like Binance and transfer it to your Trust Wallet.
  1. Connect to a DEX:

    • Connect your Trust Wallet to a DEX like 1inch, Uniswap, or PancakeSwap.
  2. Trade ETH for TrustSwap (SWAP):

    • Select ETH as the payment and TrustSwap as the coin you want to acquire. If TrustSwap doesn’t appear, find its smart contract address on Etherscan and paste it into the DEX.
  3. Apply the Swap:

  • Click the Swap button to complete the transaction.

Remember to be cautious of scams and ensure you are using official sources and contract addresses.

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History of Trustswap

TrustSwap (SWAP) is a decentralized finance (DeFi) platform that aims to enhance the security and efficiency of cryptocurrency transactions. Here is a brief overview of its history:

  • 2020: TrustSwap was founded in mid-2020 by Jeff Kirdeikis, who recognized the need for a trustless escrow solution. He created the original "TrustSwap" (now called SmartSwaps) to address the high fees charged by lawyers for "escrow services." This led to the development of the SWAP token, which offers discounts on the platform and rewards for holders.

  • 2020 (July 9th): Jeff Kirdeikis launched the SWAP token, initially offering it to friends and family. This marked the birth of TrustSwap.

  • 2020 (December): TrustSwap celebrated its first birthday with a party in Decentraland, where they designed their own building, TrustSwap HQ. They gave away POAPs and NFTs of TrustSwap hats and hoodies that are wearable in Decentraland.

  • 2021: TrustSwap made its second acquisition, "The Crypto App," a popular mobile app that helps onboard more people into the crypto space by providing useful tools for traders and investors. This expanded TrustSwap's reach to a wider audience.

  • 2021: Swappable, the NFT branch of TrustSwap, was launched. Initially, it started as an NFT marketplace but later pivoted to focus on enterprise-level Web3 development and supporting partnerships with businesses, celebrities, artists, non-profits, and other organizations.

  • 2022: TrustSwap continued to innovate and develop more opportunities for SWAP holders. They introduced the Long-Term Staking Pool, allowing holders to stake their SWAP for better rewards.

  • 2023: TrustSwap celebrated its third anniversary, marking significant growth and milestones. They continued to expand their products and services, including the TrustSwap Incubator, which supports promising crypto startups with personalized advisory services.

Throughout its history, TrustSwap has focused on building a robust and decentralized ecosystem that enables secure smart contract transactions, fostering trust in the cryptocurrency market.

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How Trustswap works

TrustSwap (SWAP) is a cryptocurrency that operates within the TrustSwap ecosystem, a comprehensive DeFi platform designed to provide a range of services for token holders and businesses. Here's an overview of how it works:

Key Components
  1. Launchpad: TrustSwap offers a launchpad service that allows users to participate in early-stage DeFi projects. To access the launchpad, users must stake at least 4,000 SWAP tokens or earn a 2,500 SwapScore, which is a 60-day rolling average of SWAP staked on the TrustSwap Dashboard.

  2. Staking: Staking SWAP tokens enables users to earn staking rewards and launchpad allocations. The staking process involves holding SWAP tokens in a wallet, ensuring sufficient ETH for transaction fees, and connecting to the TrustSwap Staking Portal using a wallet like Metamask.

  3. Escrow Swaps: TrustSwap provides a decentralized P2P escrow smart contract service, allowing users to swap tokens securely without intermediaries. This service ensures that both parties fulfill their obligations before tokens are released.

  1. Token Generation: TrustSwap offers a free token generation program called Mint, which allows users to create and customize their own cryptocurrencies without needing to pay for code audits and development.

  2. Liquidity Lock: The platform provides a liquidity lock service, enabling projects to lock their liquidity pool tokens into a trustless vault that returns tokens after specified timeframes, enhancing credibility with investors.

  3. NFT Platform: TrustSwap has an NFT platform called Swappable, which offers bespoke and whitelabel NFT solutions for businesses to build and launch their brands into web3.

How It Works Together
  • Projects can create and mint tokens, embed token and liquidity locks, and enter into vesting smart contracts using TrustSwap's services.
  • The platform attracts investors by offering high-quality projects that can be trusted and verified as legitimate.
  • Users can invest in these projects, stake SWAP to earn rewards, and swap tokens securely using the escrow service.
  • The power of smart contract functionality ensures that the code is secure and audited, providing confidence for investors.

Overall, TrustSwap provides a comprehensive suite of DeFi tools and services, making it a convenient and secure platform for both projects and investors.

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Trustswap's strengths

The token TrustSwap (SWAP) has several strengths that contribute to its value and utility within the TrustSwap ecosystem. Some of the key strengths include:

  • Staking Rewards: Staking SWAP tokens allows users to earn staking rewards, which are generated from 80% of all fees paid on the TrustSwap ecosystem. This creates a passive income stream for stakers.
  • Launchpad Allocations: Staking SWAP tokens provides guaranteed allocations for early participation in promising DeFi projects. This allows stakers to access high-quality projects before they are listed on exchanges, giving them a competitive edge.
  • Token Locks: TrustSwap token holders benefit from a 50% reduced fee when using Token Locks, which enhance the credibility of projects by locking team tokens and preventing sudden dumps.
  • Escrow Services: The Swaps & Escrow service allows users to trade tokens securely and trustlessly, eliminating high escrow fees charged by middlemen. Fees for this service can be paid in ETH or SWAP, with a significant discount for SWAP users.
  • Mint and Liquidity Lock: TrustSwap's Mint service enables the creation of pre-audited tokens for free, reducing development and audit costs. The Liquidity Lock feature enhances project credibility by locking liquidity pool tokens in a trustless vault.
  • Partnerships and Adoption: TrustSwap has formed high-profile partnerships, such as with Polkadot and Shopping.io, which facilitate crypto payments to a large catalogue of online stores. This increases the token's utility and adoption.

These strengths collectively contribute to the value and utility of the SWAP token, making it an attractive option for users and investors within the TrustSwap ecosystem.

Trustswap's risks

TrustSwap (SWAP) carries several financial risks that investors should be aware of. These risks include:

  1. Market Volatility: The value of SWAP tokens can fluctuate rapidly and decrease significantly, potentially even falling to zero. This volatility is inherent to the cryptocurrency market and can result in substantial losses for investors.

  2. Risk of Digital Assets: Transactions involving digital assets like SWAP tokens involve substantial risks. The price or value of these assets can change rapidly, and past performance is not a guarantee of future success.

  3. Risk of Theft or Loss: Investors are responsible for securing their digital assets, including SWAP tokens. Loss or theft of private keys can result in the loss of these assets, and TrustSwap is not liable for such losses.

  1. Risk of Manipulation: While TrustSwap has been given a moderate risk rating by InvestorsObserver, there is still a possibility that the token's price can be manipulated by limited trading activity.

  2. Risk of Regulatory Uncertainty: The legal regulation of cryptocurrencies and blockchain-based services is still evolving and uncertain. This uncertainty can impact the value and usability of SWAP tokens.

  3. Risk of Smart Contract Failure: TrustSwap's services rely on smart contracts, which can be vulnerable to technical failures or exploitation. Such failures can result in losses for users.

  1. Risk of Business Failure: TrustSwap, as a company, can face business risks that may impact the value of SWAP tokens. This includes the risk of partnerships failing or the company itself experiencing financial difficulties.

Investors should carefully assess these risks and ensure they have a thorough understanding of the cryptocurrency market and TrustSwap's services before investing in SWAP tokens.

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Did Trustswap raise funds?

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Trustswap’s team

  • Naïm Boughazi: CEO of TrustSwap.
  • Ivan Anastassov: COO of TrustSwap.
  • Onuora Amobi: CMO of TrustSwap.
  • Howard Pearce: Team Finance Product Manager at TrustSwap.
  • Sundeep Siripurapu: Launchpad Director at TrustSwap.
  • JeanDaniel Bussy: VP of Engineering at TrustSwap.
  • Brett Fabian: Marketing Director at TrustSwap.
  • Carl Walker: Director of Search Marketing at TrustSwap.
  • Primož Kralj: Technical Advisor at theCrypto.app.
  • Surya Panda: WordPress Developer at TrustSwap.
  • Marc Hilzendecker-mukki: Web3 frontend engineer at TrustSwap.
  • Osama Alsaeed: Quality Assurance Engineer at theCrypto.app.
  • Mohamed Magdy: Backend developer at theCrypto.app.
  • Levi Meadows: Blockchain Developer at TrustSwap.
  • Ferdinand: Backend Developer at TrustSwap.
  • Quan Pham: Team Finance and TCA Developer at TrustSwap.
  • Son Pham: TCA Frontend/ReactNative Developer at TrustSwap.
  • Sam Reid: Launchpad Coordinator at TrustSwap.
  • Hopoate Satini: Marketing & Launchpad Ops at TrustSwap.
  • Alex Rourke: Video producer at TrustSwap.
  • Anastasia Kolodkina: UX/UI designer at TrustSwap.
  • Volya Radnajeva: UIX Designer at TrustSwap.
  • Shane Eastwood: Motion Graphics Designer at TrustSwap.
  • Ben Noskov: Head of Support at theCrypto.app.
  • Alix: Business Development at TrustSwap.
  • Jeff Kirdeikis: Former CEO and current Chairman of the Board at TrustSwap.

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