Trust Wallet Token (TWT) is a utility token that adds value to the users of the Trust Wallet mobile app. Trust Wallet is a mobile cryptocurrency wallet that supports a variety of popular native assets, as well as tokens on the Ethereum, Binance, and TRON blockchains. TWT tokens offer a range of benefits to Trust Wallet users, such as discounts on in-app cryptocurrency purchases and decentralized exchange (DEX) services.
Trust Wallet was founded by Viktor Radchenko in 2017. Radchenko, based in Mountain View, California, has held development and engineering roles at several tech firms and co-founded Trucker Path in 2013. Trust Wallet was acquired by Binance in 2018, and Radchenko continues to work on the platform as part of the Binance team. The Trust Wallet team comprises over 20 individuals, many of whom have overlapping roles at Binance.
With the transition to Binance Smart Chain, 99% of the original TWT token supply was burned, and the new maximum supply was set at 1 billion TWT. Currently, just over a quarter of this is in circulation. The circulating supply of TWT will gradually increase as Trust Wallet users earn TWT tokens for completing various tasks, such as participating in referral campaigns, taking quizzes, and completing tasks within the app.
Trust Wallet Token is available for purchase and trade on several platforms, including both centralized and decentralized exchanges. MXC and Binance DEX are among the most liquid exchanges for TWT. The token is currently tradable against a range of other cryptocurrencies, including Tether (USDT), Bitcoin (BTC), and Binance Coin (BNB).
Trust Wallet Token is primarily used within the Trust Wallet ecosystem. It provides additional value to users of the Trust Wallet mobile app, offering discounts on in-app cryptocurrency purchases and DEX services. TWT holders can also participate in the governance of Trust Wallet and vote on Trust Wallet update proposals, influencing the development of the app.
Trust Wallet Token was one of the first tokens to launch on Binance Smart Chain (BSC), a high-performance blockchain designed for smart contracts and decentralized applications (DApps). As a result, TWT can be transferred with extremely low fees and near-instant transaction confirmation times. Trust Wallet Token is secured by a rigorously tested proof-of-stake (POS) consensus mechanism, protecting the network against potential threats. It is also protected by a generous bug bounty program operated by Binance, which rewards those who discover a vulnerability on Binance Chain and its core smart contracts.
Trust Wallet has been making strides in the crypto space with several technological developments. Notably, it has launched a browser extension, making self-custody, multi-chain, and Web3 more accessible to users. This allows users to explore thousands of decentralized applications (dApps) using their desktop computers. Additionally, Trust Wallet has added support for adding custom EVM networks to its mobile app, allowing users to interact with any custom network of their choosing.
Recent news about Trust Wallet includes its integration with several platforms. Defrost Finance has integrated Trust Wallet, enabling traders to deposit on Defrost to gain access to market-beating yields or trade major cryptos on leverage. Trust Wallet has also integrated services for Binance Pay and Coinbase Pay, simplifying transfers from these accounts to Trust Wallet. DappRadar users can now connect to the site and tools using Trust Wallet, enhancing their crypto experience.
Trust Wallet news today also highlights the wallet's new features. It now supports staking of Cardano (ADA) natively, allowing users to earn rewards inside their mobile wallet. Additionally, Trust Wallet has added the ability to send crypto using simple domain names, making token transactions even easier for its users.
Trust Wallet's user adoption has been impressive, with total app downloads increasing by 63% this year. The Trust Wallet price today reflects this growth, with the Trust Wallet Token (TWT) experiencing a significant surge. If you're wondering where to buy Trust Wallet, it's available for download on both Android and iOS devices.