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Summary of Trust Wallet Token (TWT)
Key Points
- TWT is a BEP-20 utility token that provides benefits and incentives to Trust Wallet users.
- Holders of TWT tokens unlock discounts on in-app cryptocurrency purchases and DEX services, and can participate in governance and voting.
- TWT 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.
Unique Features
- Utility token designed to provide additional value to Trust Wallet users.
- Can be transferred to any wallet that supports Binance Smart Chain assets.
Introducing Trust Wallet Token: A Beacon of Innovation in the Cryptosphere
Introducing Trust Wallet Token (TWT): A Comprehensive Overview
Trust Wallet Token, or TWT, is a straightforward BEP-20 utility token designed to offer a multitude of benefits and incentives to Trust Wallet users. The Trust Wallet itself is a versatile mobile cryptocurrency wallet that accommodates a diverse array of popular native assets, as well as a wide range of tokens on the Ethereum, Binance, and TRON blockchains.
By holding TWT tokens, users can unlock a plethora of benefits when utilizing Trust Wallet, including exclusive discounts on in-app cryptocurrency purchases and decentralized exchange (DEX) services. Furthermore, TWT holders are granted the privilege of participating in the governance of Trust Wallet, empowering them to cast votes on proposed updates, thereby influencing the app’s development trajectory.
Initially introduced as a BEP-2 asset on Binance Chain, Trust Wallet Token underwent a relaunch in October 2020, transitioning to a BEP-20 token on Binance Smart Chain.
Unveiling the Uniqueness of Trust Wallet Token
The Trust Wallet Token is a bespoke utility token, meticulously crafted to augment the user experience within the Trust Wallet mobile app, with its utility exclusively confined to the Trust Wallet ecosystem.
Notwithstanding, as a BEP-20 asset, Trust Wallet Tokens can be seamlessly transferred to any wallet that supports Binance Smart Chain assets, where they can be exchanged for other assets or utilized as a form of payment for various services. Furthermore, TWT confers voting rights and governance over the development of Trust Wallet, and can be leveraged for discounted DEX trades and in-app purchases, thereby fostering its own intrinsic value as a speculative instrument.
TWT was also a pioneer in launching on Binance Smart Chain (BSC), a cutting-edge blockchain optimized for smart contracts and decentralized applications (DApps). Consequently, TWT transactions boast exceptionally low fees and near-instant confirmation times, ensuring seamless and efficient transfers.
What Is the Circulating Supply of Trust Wallet Token (TWT) Coins?
As part of the transition to Binance Smart Chain, a monumental 99% of the original TWT token supply was ceremoniously burned, and the new maximum supply was subsequently set at a capped 1 billion TWT — with merely a quarter of this total currently in active circulation.
The circulating supply of TWT will experience incremental growth as users of Trust Wallet earn tokens by engaging in diverse activities, including participation in referral campaigns, completing quizzes, and undertaking tasks within the app, such as cryptocurrency staking and trading.
According to official sources, the tokenomics of TWT dictate that 40% of the total supply will be dedicated to user acquisition, while 15% will be allocated to the Trust Wallet community. Furthermore, 30% will be held in reserve, and 15% will be earmarked for developers. As of October 2020, the full tokenomics and emission schedule for the Trust Wallet Token remain unpublished.
The Trust Wallet Token Network: A Fortress of Security
Powered by Binance Smart Chain, the Trust Wallet Token is underpinned by a meticulously tested proof-of-stake (POS) consensus mechanism, which serves as a robust defense against a multitude of potential threats, including 51% and Sybil attacks, thereby safeguarding the integrity of the network.
Furthermore, a robust bug bounty program, operated by Binance, provides an additional layer of protection. This program offers a substantial reward of up to $10,000 in BNB to individuals who successfully identify vulnerabilities within Binance Chain and its core smart contracts.
Beyond this, as a BEP-20 asset, TWT benefits from the robust security features of the wallet software used to manage it. Specifically, Trust Wallet employs a passcode-protected security lock and a 12-word recovery phrase, ensuring an additional layer of protection.
Acquiring Trust Wallet Token (TWT): A Comprehensive Guide to Exchanges and Platforms
Trust Wallet Token is accessible for purchase and trade on a diverse range of platforms, encompassing both centralized and decentralized exchanges. Notably, MXC and Binance DEX are among the most liquid exchanges for TWT, offering a seamless trading experience. Currently, the token can be traded against a diverse array of other cryptocurrencies, including Tether (USDT), Bitcoin (BTC), and Binance Coin (BNB).
Discover the simplicity of purchasing cryptocurrencies, including Trust Wallet Token, using fiat currency – we’ll guide you through the process.
The Visionaries Behind Trust Wallet Token: A Founding Story
Founded in 2017 by Viktor Radchenko, Trust Wallet has its roots in Mountain View, California. With a background in development and engineering, Radchenko brought a wealth of experience from his previous roles at various tech firms. Notably, he co-founded Trucker Path in 2013, a company renowned for its highly popular app catering to the needs of truckers and logistics firms.
Radchenko shifted his focus to the mobile cryptocurrency wallet industry upon discovering a notable absence in app stores: the lack of open-source wallets supporting Ethereum and ERC20 tokens.
The platform was acquired by Binance in July 2018 for an undisclosed amount, with Radchenko continuing to contribute to the platform as a member of the Binance team. Although the full roster of the Trust Wallet team remains undisclosed, it is comprised of over 20 individuals, many of whom hold concurrent roles within Binance.
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