TrustSwap (SWAP) is a cryptocurrency token that powers a decentralized finance (DeFi) platform. It offers various tools and services, including token creation, staking, escrow, and launchpad solutions, aiming to accelerate the transition to Web3. The token can be used for staking, earning rewards, and participating in governance, with a total supply of 100 million SWAP tokens.
TrustSwap (SWAP) is a decentralized finance (DeFi) project that offers a suite of services designed to enhance the security and efficiency of cryptocurrency transactions. The native token, SWAP, plays a central role in the ecosystem, providing various benefits to users. Here are some key ways SWAP is used:
Staking and RewardsStaking: Users can stake SWAP tokens to earn rewards, which incentivizes holding and reduces the circulating supply. Stakers receive a guaranteed allocation for promising DeFi project tokens and can participate in the launchpad by staking at least 4,000 SWAP tokens or earning a 2,500 SwapScore (a 60-day rolling average of SWAP staked on the TrustSwap dashboard).
Staking Rewards: 80% of all fees paid on the TrustSwap ecosystem are used as staking rewards. Additionally, 10% of the fees are burned, making the SWAP token more scarce.
Governance: SWAP holders participate in the governance of the TrustSwap platform, allowing them to propose and vote on key decisions and changes.
Fees and Discounts: SWAP tokens are used to pay for services within the TrustSwap ecosystem, such as SmartLock and SmartSwap. Holding SWAP tokens can also grant users discounts on these services.
Escrow Swaps: TrustSwap offers a P2P escrow smart contract service that allows users to swap tokens securely without intermediaries. Users can trade ETH or any ERC20 token with customizable swap parameters, ensuring trustless and secure transactions.
The Crypto App: TrustSwap purchased The Crypto App, which offers portfolio tracking, a crypto news feed, and charting platform. Users can set up alerts to follow price movements and enable push notifications. The SWAP token is the main utility token of the exchange, generating revenue for TrustSwap.
- Swappable: TrustSwap has an NFT trading platform called Swappable, where users can find and invest in unique digital art and niche tokens from renowned artists.
Launchpad: TrustSwap provides a platform for launching new crypto projects on various chains. Projects undergo thorough evaluation before being added to the platform, ensuring reliability and security for stakers.
Token Distribution: SWAP tokens were distributed through private sales, public sales, and allocations for the team, advisors, and community incentives. The distribution model was structured to ensure decentralized ownership and governance.
Overall, SWAP is a versatile token that supports various aspects of the TrustSwap ecosystem, from staking and governance to fees, trading, and NFTs.
To store TrustSwap (SWAP) tokens, you have several options:
Centralized Exchange (CEX): You can hold your SWAP tokens on a centralized exchange like KuCoin. This provides easy access to various investment products and features, such as spot trading, futures trading, staking, and lending. The exchange will securely hold your funds, but you will need to follow their security protocols and maintain your account.
Decentralized Exchange (DEX): You can store your SWAP tokens on a decentralized exchange, which offers more privacy and control over your assets. You will need to use a self-custodial wallet, ensuring you have full custody of your crypto assets.
Crypto Wallet: You can store SWAP tokens directly in a reliable and reputable crypto wallet that supports TrustSwap. This allows you to manage your tokens independently and securely. Make sure to follow the wallet's security guidelines and keep your seed phrase safe.
- Trust Wallet: Trust Wallet is a popular option for storing and swapping tokens. It offers a user-friendly interface and supports both same-chain and cross-chain swaps. Ensure you have the latest version of the app and follow the wallet's security guidelines.
Regardless of the method you choose, it is essential to maintain strong security practices, such as enabling two-factor authentication, using secure passwords, and keeping your seed phrase or recovery information safe.
To buy TrustSwap (SWAP) tokens, you can follow these steps:
Choose a Centralized Exchange (CEX):
- Select a reliable and trustworthy crypto exchange that supports TrustSwap (SWAP) purchases. Consider factors such as ease of use, fee structure, and supported payment methods.
Create an Account:
- Enter the required information and set a secure password. Enable two-factor authentication (2FA) using Google Authenticator and other security settings to add an extra layer of security to your account.
Verify Your Identity:
- Complete Know Your Customer (KYC) verification, which may require different information based on your nationality and region. This step is necessary to access more features and services on the platform.
Add a Payment Method:
- Follow the exchange's instructions to add a credit/debit card, bank account, or other supported payment methods. The required information may vary depending on your bank's security requirements.
Buy TrustSwap (SWAP):
- Use fiat currency to purchase TrustSwap (SWAP) if supported by the exchange. Alternatively, you can buy a popular cryptocurrency like USDT and then exchange it for TrustSwap (SWAP).
Choose a Crypto Wallet:
- Select a reliable and reputable crypto wallet that supports TrustSwap (SWAP).
Download and Set Up the Wallet:
- Download the wallet application and create a new wallet address or import an existing one. Make sure to write down the seed phrase and keep it secure.
Buy TrustSwap (SWAP):
- Purchase TrustSwap (SWAP) using a supported payment method. Check the fees, as they may be higher than those charged by exchanges.
- Swap for TrustSwap (SWAP):
- If your wallet doesn’t support direct fiat-to-SWAP purchases, you can first buy a popular cryptocurrency like USDT and then exchange it for TrustSwap (SWAP) through your crypto wallet or on a decentralized exchange (DEX).
Download a Trust Wallet:
- Download the Trust Wallet application, which supports the Ethereum network.
Set Up the Wallet:
- Register and set up the crypto wallet via the wallet’s Google Chrome extension or mobile app. Keep your seed phrase safe and note your wallet address.
Buy ETH:
- Buy Ethereum (ETH) on a centralized exchange like Binance and transfer it to your Trust Wallet.
Connect to a DEX:
- Connect your Trust Wallet to a DEX like 1inch, Uniswap, or PancakeSwap.
Trade ETH for TrustSwap (SWAP):
- Select ETH as the payment and TrustSwap as the coin you want to acquire. If TrustSwap doesn’t appear, find its smart contract address on Etherscan and paste it into the DEX.
Apply the Swap:
- Click the Swap button to complete the transaction.
Remember to be cautious of scams and ensure you are using official sources and contract addresses.