Decentralized Finance (DeFi) is the future of the global economy. In this line, there is a need to establish a trustless means for transaction. Many cryptocurrency projects have therefore emerged with Defi solutions. Most of these projects vary as some seek to improve access to capital while others aim to propel cryptocurrencies to mainstream adoption. However, the cryptocurrency space is yet to have a project that will solve the shortcomings in the DeFi sector. TrustSwap is the answer.
What is TrustSwap?
TrustSwap is a DeFi platform whose underlying goal is to become a smart contract software provider. The platform was founded by Jeff Kirdeikis after his experience working with a crypto project that was looking for a way of accepting an early-stage investment from a venture capital firm. In this case, they intended to purchase a significant amount of the project’s tokens while gaining equity in the business.
Kirdeikis realized that there was no cheap way of carrying out the transactions. He concluded that other crypto businesses faced the same inefficiencies and high costs for routine transactions. It gave birth to TrustSwap.
The TrustSwap platform is powered by the native token, SWAP, an ERC-20 token. The SWAP token is used for discounts on services, dividends from staking, and as a governance token.
What does TrustSwap do?
TrustSwap offers the TS SmartSwap feature, an escrow service that works based on smart contracts. The feature is designed to provide an alternative to asset transfers directly. It eliminates any middlemen while staying true to the finding goal. It makes it easy for investors to transact seamlessly at minimal charges.
Through the TS SmartSubscription, TrustSwap is bringing a revolution to subscription payment. Businesses can leverage this feature and accept payments in cryptocurrencies while getting a chance to enter the digital space sector. Worth mentioning is that the service is API enabled, meaning it can be integrated into almost any existing digital platforms like Netflix and Spotify.
Furthermore, the TS SmartLock feature is an event-based payment system. Users can leverage it to carry out scheduled transactions between two or more parties in an efficient manner. This system works well with organizations or businesses that manage payroll systems. It also works as a contractor payment system with transfers tied to specific performance goals.
TrustSwap Partnerships and Acquisitions
With less than a year in operation, TrustSwap has managed to catch the global financial community’s attention, especially in the DeFi space. The firm has committed to keep innovating new products to eliminate the pinpoints in the existing DeFi ecosystem. Therefore, TrustSwap is making strategic partnerships and acquisitions to meet its goals.
To keep its vision on course, TrustSwap has announced the acquisitions of Team.Finance, one of their biggest competitors. The move will help TrustSwap secure the resources and focus to maintain its momentum and expansive scope. The acquisition unites the world’s two major providers of token lock and liquidity lock services, creating a unified platform that’s poised for growth.
After the sale, TrustSwap will add a Team.Finance’s services and assets to its own alongside $15,500,000 in assets locked up in 45 projects. The TrustSwap team is currently working to extend its portal functionality to include the Team.Finance’s best features. The features will accelerate the development timeline of the TrustSwap portal.
TrustSwap has also partnered with Shopping.io in a move aimed at accelerated mainstream adoption of cryptocurrency. At the same time, the deal will help elevate the Shopping.io brand awareness while providing additional rewards to stakers of SWAP tokens.
TrustSwap also comes with a launchpad for other crypto projects. It offers token presale management and anti-price manipulation tools. The suite of startup services has already helped several startups get off to a good start, including Chaingames, MobiePay, and AuBit.
On January 11, 2021, GLITCH, a Hong Kong-based Blockchain startup launched on the TrustSwap Launchpad. The firm is developing a super protocol purpose-built to facilitate trustless money markets. The Protocol offers high transaction throughput with near-zero transaction fees. On January 17, 2021, TrustSwap also announced it was joining Polkadot, a heterogeneous multi-chain interchange and translation architecture that enables customized side-chains to connect with public blockchains.
TrustSwap has also launched the SmartLaunch feature to help the creation of tokens that are fully pre-audited at no extra cost. The SmartLaunch helps in token locks, liquidity locks, and creating tokens through Mint at zero cost.