TrustSwap is at the forefront of the Decentralized Finance (DeFi) market in terms of innovation, security and services. The company is currently one of the easiest ways for users and investors to make safe and fast crypto transactions without having to depend on a trusted middleman.
TrustSwap Background
The company was created by the current CEO Jeff Kirdeikis, who explains that the Initial Coin Offering (ICO) period for cryptocurrencies was affected by high fees from lawyers and pump and dump issues with tokens.
When a Venture Capital firm invested in a crypto project with a discount, the company selling the tokens must ensure the coins were not going to be sold immediately after, crashing the price of the token in the market. While lawyers could solve this issue for a 5% to 10% fee, Mr. Kirdeikis considered there could be a cheaper solution for this problem.
This is why he came up with the idea of a smart-contract service that would allow for time-based payments. This solution would help reduce the negative effect of VC companies selling the coins they acquired at a discount at market prices producing a crash in the market.
Understanding TrustSwap Key Features
The TrustSwap platform is allowing users basically to exchange money in a reliable and secure way. Users can be 100% sure that payments will be processed properly and at an exact time in a fully automated way. This solves many issues in the market that were affecting users and companies.
Users can also simply split their payments and use different dates to send these funds. It is worth taking into consideration that TrustSwap is currently working with all the Ethereum-based currencies available in the market, including stablecoins such as True USD (TUSD) and DAI, among others.
There are several virtual currency companies that are currently working with stablecoins and paying clients and workers in these stablecoins. This is why it is certainly important the job TrustSwap is currently doing with its services and features.
TrustSwap Way of Working
This platform is going to be working in a very simple and easy way for companies to be able to send and receive payments without having to depend on a trusted third party. By using this platform, the user will have to select the amount to be paid, the number of payments to be made and the recipients of the payments.
There are many companies and use cases related to Trust Swap. This is certainly something that will revolutionize the DeFi market and that would allow companies to reduce their time processing payments. Automating processes is also an important way to standardize the way in which companies and startups work, improving efficiency and productivity.
TrustSwap Use Cases
The company is currently offering a large number of use cases that would make it easier for firms and investors to handle their funds.
One of them is related to time-locked tokens. It is possible to lock up founder and employee tokens on a time-based release schedule in order to help increase confidence among investors and users.
Many ICOs and Inital Exchange Offerings (IEOs) could unlock the tokens they created and simply transfer them to users, founders and more. This could be a negative thing for investors that are searching for transparency in the way payments and transfers are processed.
TrustSwap solves this issue by allowing inventors to have a clear schedule on how the payments would be processed form token creators to founders and other participants.
The Instant Will execution would allow you to create a smart contract that would send the funds that you have to your beloved ones once you pass away. Despite this being something definitely sad to talk, it is very important to know the funds we hold will not end up disappearing.
One of the examples we can mention in recent years was the issue that affected the Quadriga CX Cryptocurrency exchange. The exchange informed in January 2020 that the owner of the platform Gerald Cotten passed away due to a disease that was affecting him.
The main issue that affected users was the fact that Mr. Cotten was the only person with information about the private keys of the cryptocurrency exchange and the funds the company had. Until today, there has been no information on which could be the private key of the funds held by the company or which wallets were used by the platform.
TrustSwap is working in order for these issues not to happen again. If companies and users take the necessary steps in order to properly handle their funds, TrustSwap is ready to provide the necessary infrastructure to power these payments.
Furthermore, TrustSwap is also working with monthly and weekly subscriptions. By using the platform, users can easily set up and pay for subscriptions using their favourite cryptocurrency in the market. While nowadays it is certainly not possible to automate crypto payments in traditional platforms, TrustSwap is ready to make it possible.
This would reduce the hours needed to perform payments for your subscriptions or for monthly and regular transactions that must be fone from companies or individual users to other third parties.
Furthermore, TrustSwap allows for automated employee payments. This is one of the most important things related to TrustSwap and how it is helping crypto startups to improve their standards and make more efficient their processes.
Payroll is sometimes a time-consuming and expensive thing to do for firms. In cryptocurrencies, things can become more tedious due to the large number of accounts that must be added, the amounts that need to be checked and more.
With TrustSwap, it is possible to reduce the dependency on old and antiquated payroll systems. By using smart contracts and blockchain technology, it is certainly possible to make payments more standardized, fast and simple.
Finally, this platform allows for instant gifts and payments. The funds can be sent from a father to a son that is currently receiving a weekly allowance. At the same time, it is possible for kids to receive a gift because it’s their birthday or just because they deserve it after helping at home.
Secure Two-Party Swaps Powered by Smart Contracts
The smart contracts used by TrustSwap are also very useful in order to make instant and trustless trades with anyone in the world. If you found a person that is selling a virtual currency for a specific price and you want to be sure that you will receive the funds, then TrustSwap is going to make it secure and fast.
The platform will allow you to set the funds you want to send for the cryptocurrencies acquired and you will have to wait for the other user to deposit the funds. Once both parties reach an agreement, the funds will be processed immediately and without any issues.
This can make it very fast and easy for users to receive the funds they were waiting for without trusting a third party or middleman. TrustSwap is making it better and easier to manage your funds, exchange cryptocurrencies and handle money with a stranger or people you don’t know.
Understanding TrustSwap Services
TrustSwap can be very useful to perform secure, time-release and low-fees transfers. As we have mentioned in the previous sections, this is going to make it easy for companies and users that handle crypto payments on a regular basis.
One of the examples the company gives is a company that wants to sell tokens to a large crypto investor. The company receives an offer to sell 5,000 tokens for $100.000. Of course, the firm wants to be sure it will receive the funds proposed by the investors. However, it is not possible to know whether that will happen.
This is why TrustSwap makes it easier and eliminates the middleman. With this platform, the company can send the tokens, which would be released once the $100,000 are also sent. This is going to make it easier and faster for everyone involved in the transaction.
Furthermore, the company wants to avoid a massive sell of the 5,000 tokens that were acquired at a discount. With the TrustSwap platform, it is possible to set up a contract that would be slowly releasing the funds to the investor. In this way, it is possible for the firm to be sure there is not going to be a massive short in the open market.
Finally, TrustSwap works with very low fees. While lawyers and traditional intermediaries can take up to 5% or 10% of the funds transacted, TrustSwap works with 1% fee and 0.5% fee if the trade takes place with the SWAP token created by the company.
Understanding the SWAP Token
The TrustSwap ecosystem works with the TrustSwap token that is going to make it much more efficient for the parties involved in a trade to process it.
The SWAP token created by the company has a large number of features that can be reflected in their governance, staking rewards, reduced fees and stability, among other things. Users that hold the SWAP tokens can become voters for platform governance decisions that will shape the future of the ecosystem.
SWAP holders will certainly want to be part of an ecosystem that is continuously growing. They will be certainly incentivized in expanding the ecosystem and making it more efficient over time. Should they behave in an inappropriate way, the results would definitely be negative for them, erasing any short-term gain they could get for behaving improperly.
These tokens have a deflationary scheme in which every single time there is a swap in the platform using these funds, they will get burned, reducing the total supply of the SWAP tokens. This means that over time, there are going to be fewer SWAP tokens available in the market.
Several cryptocurrencies have implemented this deflationary scheme, allowing for users to gain value as they hold the cryptocurrency and see their total supply get reduced over time. There are going to be 100,000,000 SWAP tokens that are going to be ever issued by TrustSwap.
Furthermore, those that use the SWAP tokens to perform payments and conduct transactions will receive a 50% discount on the fees they pay. If they use any other cryptocurrency to perform the transfer, they will have to pay a 1% fee rather than the reduced 0.5% option made available by the SWAP token.
Regarding the rewards that users can receive while holding the currency TrustSwap has included Staking. Staking is the word that describes the activity of holding a cryptocurrency, protecting the network and receiving rewards for doing so. You will be taking part not only in the governance process of the TrustSwap network but you will also receive staking rewards.
The rewards that stakers will receive come from the transactions that take place between parties using the SWAP token. Stakers and liquidity providers will receive 80% of transaction fees, while 10% of the fees for processing a transaction will be burned. This is the best way to incentivize stakers, governance participation and users that want to be long-term investors in the TrustSwap cryptocurrency.
The distribution of the tokens is going to be 60% for the Initial Liquidity Offering, 20% for the team and 20% for marketing, development, bounties and airdrops.
The team has launched the Initial Liquidity Offering in June 2020 and the testnet will be completed in early August. They are also planning a full launch during August, which already shows the company is doing everything that is able in order to make it fast and smooth for investors.
They are also planning to launch Cross-Chain integration, add NFT’s, security tokens and tokenized assets, shopping and receiving and many other things such as DEX with leverage trading and more. The project is clearly expanding and doing everything that is possible in order to offer better solutions to users and investors in the cryptocurrency market.
Conclusion
TrustSwap is a revolutionary company in the Decentralized Finance market that is going to be facilitating payments using digital currencies. Companies, users and firms can start using the TrustSwap platform in order to process payments in a fast and secure way.
The SWAP token is going to be rewarding users that stake their coins. Furthermore, the governance system and deflationary aspects of the SWAP tokens are going to make it very attractive for investors to participate in the TrustSwap economy.
By launching an Initial Liquidity Offering, TrustSwap will be one of the most useful companies for traders and users that want to process regular payments and do not want to depend on a trusted third party.
