We’ve been doing a lot of work behind the scenes lately, and have been rather quiet with what we’ve been developing. Recently, there have been numerous frequently asked questions in our community channels, so it’s time to give you all an update and look into the upcoming roadmap.
Let’s dive in
How is the Crypto App going to integrate with TrustSwap and the $SWAP token?
The Crypto App is currently going through a major upgrade, and it’s progressing incredibly well. Both the look and the functionality of the app are getting leveled-up in a big way. In addition to the features already available in-app, you will soon be able to buy, trade, store & earn yield all within the app. This update is expected to roll out in a few months.
As for $SWAP’s integration into the app, we have come to a final decision that TrustSwap’s $SWAP token will be the exclusive utility token used in-app. There will not be a “Crypto App Token”. All utility, features and benefits will be directly linked to the $SWAP token.
By holding + staking $SWAP you will receive discounted trading fees, premium in-app features and a higher in-app yield on BTC, ETH, and Stable-Coins.
100% of all revenue generated within The Crypto App will be used to buy back $SWAP tokens. These $SWAP tokens will be used for future business development (such as more acquisitions to add value to $SWAP), and for the upcoming “Long-Term Staking Pool” (More info on this later)
Can we get higher staking rewards?
Currently, whenever someone buys or trades on Swappable: Trustswap’s NFT marketplace, Trustswap receives 2% revenue from the trading fees. In order to provide the community with higher rewards for staking, we are allocating 80% of the revenue to the staking pool. This means that all stakers will be proportionately splitting the swappable trading fees generated so far and all fees in the future. The remaining 20% of $SWAP tokens will be burned.
Additionally, we are building out a new staking pool design in which long-term stakers will be generously rewarded. This will be funded with a significant amount of $SWAP from the treasury. In addition to this pre-funded amount, it will also be funded in the near future with buybacks from our services like Swappable, The Crypto App and Team Finance.
The longer you secure your stake, the higher your staking rewards will be. This long-term staking pool will also count towards your Swap Score. Swap Score is the average amount of SWAP staked over 60 days, the higher your Swap Score the higher your launchpad allocation.
This long-term staking pool will go live in Q1 2022. In the meantime, we are allocating all staking rewards previously mentioned to our existing staking pool. We will be launching an additional main staking pool on polygon and other low-fee blockchains like BSC in the very near future. Polygon is anticipated to go live mid-november.
What is the status with token burns and tokenomics?
20% of all trading fees from Swappable are used towards token burns, with the other 80% going towards staking rewards.
Here is the current tokenomic setup:
1. Revenue generated from Trading fees on Swappable: 80% goes to stakers ; 20% burned
2. Team Finance revenue: 100% of revenue is used for buybacks, 80% is used for business development & 20% towards the long-term staking pool.
3. Crypto App revenue: 100% of revenue is used for buybacks, 80% is used for business development & 20% towards the long-term staking pool.
*Buybacks means we take the revenue earned from the Crypto App ( advertisements) and Team Finance (fees from token & liquidity locks) and purchasing $SWAP using stable coins or ETH.
What incentives do larger holders have to increase their holdings and get into the top 1,000 stakers?
The higher your Swap Score, the larger your allocation in launchpads.
Nearly every Launchpad does an airdrop to the top 1,000 stakers. These airdrops have not happened in a while, due to vesting periods. That said, there will be multiple airdrops worth thousands of dollars happening before the end of the year. There will be more to come, as more launchpads roll out.
In addition, there will be an exclusive telegram channel launched for anyone with a Swap Score of 10,000 or greater. Myself and other core team members will regularly be active in that group to chat, take feedback and answer questions.
Can we make some videos that explain to beginners how to buy and stake $SWAP?
Not only are we in the process of making a video on how to buy and stake $SWAP, this quarter we are creating multiple short and easy to follow tutorial videos for every service we offer. These videos will be marketed and shared en-masse, including by our sponsors such as Amanda Nunes.
Any updates on centralized exchange listings?
TrustSwap is in advanced stages with multiple top-tier centralized exchanges. The listing process for top exchanges takes a significant amount of time, and is on the schedule of the exchange. We are doing everything we can to ensure that these listings happen as quickly as possible.
What is on the upcoming roadmap?
At the current time, we are actively prioritizing four main areas.
1) Revamping the Launchpad process and its user interface to make subscribing to launchpads much easier and modern looking. KYC is about to get a lot easier. If you have not done KYC with TrustSwap before, you will be able to do it ahead of time, to ensure you don’t miss the time window. If you’ve already done KYC, you will not have to re-complete it for at least three months. In addition, the Launchpad process will be web3 connected, so nobody misses out and the process is seamless, without the need for manual transfer of funds and pasting of transaction ids.
2) Upgrading the look, feel, and utility of The Crypto App. The Crypto App is getting a major facelift, and we are integrating the ability to buy, trade, store, and earn yield on crypto directly within the app. $SWAP will be the in-app utility token by holding + Staking SWAP you will increase your APY%. You will be able to earn staking rewards up to 7% in-app by staking BTC, ETH, & Stable Coin.
3) Upgrading the look and feel of Swappable NFT Marketplace. We are working on visual improvements and features to enable less-expensive transaction fees.
4) Full overhaul on Team Finance. Team Finance is currently the #1 token custody solution in all of crypto. It has the same amount of value locked in it’s contracts as Uniswap v3. It’s time for the website to reflect this level of quality. I could give more details here, but best to leave it incognito for now.
All of these four aspects should be completed late Q4 2021 or early Q1 2022.
Rather than building new features or services, we are currently focusing on bringing additional value to our existing platform and token holders.
When will $SWAP have utility on other blockchains?
The multi-chain long-term staking pool will be preceded by a handful of new main staking pools on polygon, avalanche and binance smart chain. All of these pools will give access to launchpads. In addition, we currently have multiple farming pools on other blockchains, where you can stake $SWAP and earn various tokens. More will be added in the near future.
Can we update the calendar on the TrustSwap portal so users have things to look forward to?
The calendar is now updated.
When will Swappable open to the public so people can upload and trade their own NFT’s?
Right now we are focusing on exclusive launches and partnerships to drive high-quality traffic to Swappable. 99% of global NFT trading volume is from 1% of the projects. Opening up to the public at this time adds a lot of noise and logistics for platform moderation and maintenance.
We are currently focusing on bringing that 1% to the platform. Opening up to the other 99% will be done in the future, when it makes viable sense to do so.
Can we increase the fee for using team.finance or make it mandatory for projects using the service to hold/spend $SWAP?
The fees are intentionally low to increase early growth and market dominance. This ‘growth model’ is the same model used as the large majority of the big tech companies. All fees are converted to $SWAP, so it is identical to if all fees were paid in $SWAP. This means $SWAP is the exclusive utility token on team finance, with 100% of payments going to buybacks and 20% of that being distributed to stakers.
The next few months of TrustSwap are going to be big.
We’re glad to have you on board. – Jeff
