TrustSwap CEO, Jeff Kirdeikis, participated in an AMA session with HECO. HECO Chain is an EVM-based blockchain, developed by the Huobi Open Platform and is one of the supported blockchains on TrustSwap’s Team.Finance service.
Could you tell us more about your project? In other words, what does TrustSwap do?
Jeff: TrustSwap has one single mission: Bringing Crypto to the World. We do this by offering multiple products and services that reach to both businesses and retail users. It’s a diverse ecosystem, so I’ll break it down one by one.
1) Team Finance (for businesses): With over $6.5 Billion dollars secured in our smart contracts across 20,000 projects, TrustSwap provides crypto projects with the ability to ensure their crypto project is secure through: token locks, liquidity locks, vesting contracts and token generation. Team Finance has more value locked than uniswap v3, and is infact in the top 15 TVL in all of crypto. There is also no other project (besides L1 blockchains) that have as many projects using their protocol as we do. This has all been achieved in a year and a half, and is growing exponentially month over month. Team Finance currently supports nine blockchains, including HecoChain!
2) The Crypto App (for retail): With over 4 Million downloads ‘The Crypto App’ (TCA) is one of the most downloaded crypto apps in the world. The Crypto App allows anyone in the world to track their crypto portfolio and market prices with ease. It also features an up to date news section as well as alerts and widgets that can be added to your phones home screen. Coming in Q2, The Crypto App will open with the ability to buy, trade and stake crypto with industry leading APY’s and some of the lowest trading fees in the industry.
3) Launchpads (for retail): Launchpads give people access to crypto startups before they launch on exchanges. All you need is 4,000 SWAP to get involved. The more SWAP you stake, the higher the allocation you’ll receive.
4) Swappable (for retail): Swappable is TrustSwap’s NFT marketplace where we host various exclusive NFT drops and INO’s. Expect to see lots of exciting things coming to Swappable in Q2!
There are many similar out there, some have been quite successful. What is special about TrustSwap compared to other projects?
Jeff: TrustSwap is a diversified juggernaut. It does not just have one business vertical (like most projects), but has multiple. We have 6.5 Billion dollars secured with Team Finance across 20,000 projects. That is Top 15 TVL in all of crypto (more than uniswap v3). We have one of the most downloaded and used crypto apps in the world. We are one of the Top-5 Launchpads globally.
There’s a phrase that goes “Jack of all trades, master of none”, however we are strongly positioned as a “Jack of all trades, and master of many”. We are diversified across our business models, and that makes us resilient to market volatility. Regardless of token price, the actual core business of TrustSwap continues to grow at a phenomenal rate month over month. We are looking forward to immense success and growth over the next year and beyond.
Great, could you give us some info on the TrustSwap Token?
Jeff: Revenue from all services is used to buy back SWAP tokens. This means all services are 100% directly integrated with 100% SWAP token utility. This buyback has currently been paused since January 15th, and will be restarted once our new Long Term Staking Pool goes live.
Of the tokens purchased in the buyback, 20% of these tokens are then distributed to stakers. The remainder is distributed in our community Barter Contracts and used for continued business growth.
What would be one’s motive to hold TrustSwap tokens? What can we do with $SWAP ?
Holding and Staking SWAP gives you access to staking rewards. The more TrustSwap succeeds, the higher the staking rewards become. Staking SWAP also gives you access to exclusive launchpads and discounts on our SmartSwap service.
If you were to summarize your project in 1 word, what would it be? Why?
Jeff: Adoption. Our goal is to bring crypto to the world through targeting both retail and businesses with valuable services to make crypto easier and more secure to use.
How do you guarantee users’ asset security?
Jeff: Security is our top priority. All our smart contracts are audited by 1 or even more renowned audit firms. For example Hacken, Chainsulting and Certik.
Awesome. Anything else you would like to add?
Jeff: I would suggest everyone watches our most recent updates video to fully understand what we have in the near-term horizon for TrustSwap. It could be the best 30 minutes you spend!
