Hey TrustSwap community, Jeff Kirdeikis here 🙂
Many of you have already watched last month’s update from our Team Leads that covers each of the business verticals that we offer. The video is sectioned and labeled so you can skim and hop to the areas that interest you the most. In case you missed it, here it is:
If you don’t want to spend the full hour to get the granular details, here’s a quick update on where we’re at and where we’re heading in a few key areas.
Team Finance
Team Finance has become a giant in the crypto space. It’s now used by over 21,000 projects and has 6.5 Billion dollars secured within the protocol, making Team Finance the #1 service for locking tokens & liquidity by any measurable metric. 6.5 Billion secured puts TrustSwap in the Top-10 Total-Value-Locked in all of crypto, even above leading decentralized exchanges UniswapV3, Pancakeswap and Sushiswap.
Currently, Team Finance processes approximately 325 locks a day at $75 per lock. That revenue is then continually used for $SWAP token buybacks. From the tokens that are bought back, 20% then gets continually distributed to stakers in the Long Term Staking Pool (once it launches in April). Needless to say, we have been stacking up some major staking rewards for the Long Term Staking Pool in the meantime.
Our closest competitor charges over $1,000 per lock. This means two things:
1) We will continue to widen the gap between Team Finance and the “second place” service
2) The ability to increase the price of our locks in the future is very viable. This means more revenue, more buybacks and more staking rewards.
We are launching a full reskin of Team Finance in the coming week. This reskin will not only modernize the website, but will increase the amount of services a single project uses. Currently, many projects only use token locks or only use liquidity locks, as the various services seem disconnected from each other. The new website will showcase how token locks, liquidity locks, vesting, token generation, and audits all work together to create a unified “Security Score”. This Security Score will be public for everyone to see, and will be visible for every project on nearly every blockchain. This will create a more robust understanding and desire for teams to use the entire suite of Team Finance products. The more products are used, the safer that project becomes, the more revenue Team Finance earns, and the larger the buybacks + staking rewards become. win/win/win/win.
There is also a major update coming to the upcoming individual “coin info” page that will become a one-stop location for charts, buying, claiming tokens, seeing upcoming vesting terms, checking on security score, project details and a lot more. Bottom line, a LOT more traffic and brand recognition is inbound to Team Finance and TrustSwap very shortly.
The Crypto App
The Crypto App, with 4,000,000+ users, and 100,000 new downloads monthly, is poised to integrate an in-app crypto exchange and staking platform. This exchange will have some of the lowest trading fees globally and will also have industry-leading staking APY’s. You’ll be able to stake USDC, BTC, ETH, and many others, and earn yield in the same asset you staked. Holding $SWAP will further reduce trading fees and increase staking rewards.
Most exchanges have to grow their userbase slowly over time. The Crypto App will be a near instant flip of a switch for the onboarding of our 4 million users to the ability to buy/trade/stake crypto in-app, with $SWAP as the exclusive utility token. The $SWAP token currently has 25k holders, and is about to be introduced to 4 Million people, with $SWAP as the exclusive method to reduce trading fees and increase staking rewards.
For reference, FTX publicly states approximately 5M users on their exchange. Their FTT token has a marketcap of 7.2 Billion dollars, giving a value-to-user of $1,440 per person. With 4 Million users on The Crypto App, the potential for growth and positive momentum in the $SWAP token economy is staggering.
The full app reskin is set to come out this month, with exchange/staking integration coming late Q2, early Q3.
Barter Contracts
Barter Contracts are currently live at: https://dashboard.trustswap.org/app/bartercontract. Here, you can buy $SWAP at a discount ranging from 4-10% off the current price on both Polygon and Ethereum. The current discounts are as follows:
4% discount: 14 day hold
6% discount: 30 day hold
8% discount: 60 day hold
10% discount: 120 day hold
Step 1. Purchase the $SWAP
Step 2. Wait for the countdown to finish
Step 3. Claim your $SWAP
It’s that easy!
33% of the barter contract payment is kept in $SWAP treasury.
66% of the barter contract payment is used for $SWAP token buybacks.
Of the 66% of $SWAP bought back:
– Half is distributed to SWAP stakers in the Long Term Staking Pool
– Half is sent back to the Barter Contract, creating a positive loop of purchase power on the $SWAP token
Other projects sell their company tokens to fund operations, putting selling pressure on the market, and lowering their token price. Through the Barter Contracts, the $SWAP that is distributed to the community through purchases in USDC places buying pressure on the SWAP token and also increases staking rewards dramatically.
The barter contracts are set to continue indefinitely, as a percentage of $SWAP buybacks from Team Finance, The Crypto App, Swappable + more continue to roll in, they will be added into the barter pool.
Long Term Staking Pool
The Long Term Staking Pool’s design is to reward those who see the long term vision of TrustSwap. The longer someone stakes, the higher their staking rewards become. Users can stake from 30 days to 5 years.
In recent polls, over 50% of $SWAP holders voted that they will be staking $SWAP for 5 years. Over 85% voted that their stake would be one year or longer. $SWAP is about to become incredibly scarce through a drastic reduction in the circulating supply.
The Long Term Staking Pool will be available on ETH, BSC, MATIC & AVAX blockchains, and is set to launch in April. For a full breakdown of how the Long Term Staking Pool works, visit here.
Tokenomics
Our goal is to bring as much value to token holders as possible. Earlier, there were talks of creating a secondary token for The Crypto App, however we have decided that all revenue, business verticals and acquisitions will go into growing the $SWAP token exclusively. This way, as we continue to scale and make more acquisitions, $SWAP holders and stakers are rewarded. As seen in our acquisition of the Team Finance platform and the $TEAM token, we will continue to aggregate value to $SWAP as the TrustSwap suite of services continues to grow.
For a quick refresher on $SWAP tokenomics:
– Swappable: 20% of all trading fees go towards $SWAP token burns, 80% staking rewards
– Team Finance: 100% of revenue is used for buybacks, 80% for TS, 20% staking rewards
– The Crypto App: 100% of revenue is used for buybacks, 80% for TS, 20% staking rewards
– Launchpads and other various business verticals: revenue is held in stablecoin + ETH to grow the treasury and the business further.
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TrustSwap’s mission is to help bring crypto to the world. It’s an ambitious goal, and we’re confident we have the tools to execute on it. We will soon be one of the top exchanges globally offering retail users an easy onramp to buy/trade/stake crypto through The Crypto App. We are already are positioned as the #1 provider (and still growing exponentially) offering businesses across all major blockchains the ability to launch and secure their tokens with top-grade security. We’re confident that these services, coupled with the strong tokenomic design of Barter Contracts, The Long Term Staking Pool, Buybacks, and Staking Rewards will bring us to one of the Top-50 crypto projects globally once everything is running at-scale.
We’re glad to have you along for the journey, as we continue to grow and collectively bring crypto to the world.
