What Is Trust Wallet Token (TWT)?
Trust Wallet Token, or TWT, is a simple BEP-20 utility token that provides a image of benefits and incentives to Trust Wallet users. Trust Wallet itself is a fluid cryptocurrency wallet that supports dozens of popular native assets, in accession to popular tokens on the Ethereum, Binance and TRON blockchains. Holders of TWT tokens unlock a variety show of benefits when using Trust Wallet, including discounts on in-app cryptocurrency purchases and on the use of decentralize exchange ( DEX ) services. TWT holders can besides participate in the government of Trust Wallet and can vote on Trust Wallet update proposals, helping to shape the development of the app. Trust Wallet Token was initially launched as a BEP-2 asset on Binance Chain, but was relaunched as a BEP-20 token on Binance Smart Chain in October 2020.
Who Are the Founders of Trust Wallet Token
Trust Wallet was founded by Viktor Radchenko in 2017. Based in Mountain View, California, Radchenko previously held development and engineering roles at several technical school firms, and besides co-founded Trucker Path in 2013 — the ship’s company behind one of the most popular apps for truckers and logistics firms. Radchenko turned his attention to the mobile cryptocurrency wallet industry when he found that “ app stores did not have any open source wallets for Ethereum and ERC20 tokens. ” The platform was acquired by Binance in July 2018 for an undisclosed kernel, but Radchenko still works on the platform as region of the Binance team. The wax Trust Wallet team is not public, but it is known to comprise over 20 individuals — many of which have overlapping roles at Binance .
What Makes Trust Wallet Token Unique?
Trust Wallet Token is a utility token designed to provide extra value to users of the Trust Wallet mobile app — it doesn ’ thyroxine have any utility program outside of the Trust Wallet ecosystem. Despite this, as a BEP-20 asset, Trust Wallet Tokens can be transferred to any wallet that supports Binance Smart Chain assets, where it may be exchanged against early assets or used as requital for services. Since it besides confers voting rights and government over the development of Trust Wallet and can be used for dismiss DEX trades and in-app purchases, TWT has gone on to develop rate of its own as a inquisitive instrument. TWT was besides one of the first base tokens to launch on Binance Smart Chain ( BSC ) — a high-performance blockchain designed for smart contracts and decentralized applications ( DApps ). As a result, TWT can be transferred with highly first gear fees and near-instant transaction confirmation times .
Binance Coin ( BNB ) is the cryptocurrency that powers the Binance Smart Chain. Read about Crypto.com Coin ( CRO ).
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How Many Trust Wallet Token (TWT) Coins Are There in Circulation?
As separate of the conversion to Binance Smart Chain, 99 % of the original TWT token supply was burned and the new utmost provision was set at 1 billion TWT — of this, fair over a draw is presently in circulation. The circulating issue of TWT will gradually grow as TWT tokens are earned by Trust Wallet users for completing diverse tasks, such as by participating in referral campaigns, taking quizzes and completing tasks within the app — like cryptocurrency staking and trade. As per the official source, 40 % of the TWT nominal supply will be targeted towards user acquisition, 15 % will be distributed to the Trust Wallet community, 30 % will be held in allow and 15 % is allocated to developers. As of October 2020, Trust Wallet has not yet published the wax tokenomics or discharge agenda for the Trust Wallet Token .
How Is the Trust Wallet Token Network Secured?
Based on Binance Smart Chain, the Trust Wallet Token is backed by a rigorously tested proof-of-stake ( POS ) consensus mechanism. This is used to protect the network against a range of likely threats, including 51 % and Sybil attacks. It ’ south besides protected by a generous bug bounty broadcast operated by Binance, which pays up to $ 10,000 in BNB to anybody that discovers a vulnerability on Binance Chain and its effect smart contracts.
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Beyond this, as a BEP-20 asset, TWT is secured by the security of the wallet software used to manage it. For Trust Wallet, this includes a passcode security lock and a 12-word convalescence phrase .
Where Can You Buy Trust Wallet Token (TWT)?
Trust Wallet Token is available to purchase and trade on a kind of platforms — including both centralized and decentralized exchanges. MXC and Binance DEX are among the most liquid exchanges for TWT. The token is presently tradable against a compass of other cryptocurrencies, including Tether ( USDT ), Bitcoin ( BTC ) and Binance Coin ( BNB ). Looking to buy cryptocurrencies like Trust Wallet Token with decree ? Find out how here .