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TrustSwap’s Rapid Growth in DeFi Sector
Launched just under eight months ago, the decentralized finance (DeFi) project TrustSwap has swiftly outpaced many blockchain initiatives in terms of development. Towards the end of 2020, TrustSwap outlined a series of ambitious goals for January 2021 and has already achieved a significant portion of them.
Understanding TrustSwap
TrustSwap is a DeFi platform that emerged in mid-2020, founded by Jeff Kirdeikis, who identified a gap in the crypto market: the lack of a native service for executing timed token purchases. This gap posed a challenge for external investors aiming to purchase large volumes of tokens without risking significant price fluctuations due to major buy and sell actions. At the time, investors had to rely on costly intermediaries to manage these transactions.
Initially focused on a smart contract-based escrow solution called TS SmartSwap, TrustSwap has since expanded its offerings to include various services designed to streamline different types of crypto transactions. One of its notable features is SmartLock, a time-locked payment system. Additionally, the TrustSwap Launchpad was introduced to provide promising new DeFi tokens with essential technical and strategic support during their launch phases, ensuring investors can access trustworthy projects.
So far, TrustSwap has significantly contributed to the success of multiple projects, such as Chaingames, MobiePay, AuBit, Coin, Yield.app, and GLITCH. In a strategic move later in 2020, TrustSwap acquired Team.Finance, a prominent provider of token and liquidity lock services, thereby enhancing its position as a leader in this space.
SWAP Token Popularity
TrustSwap also features its own token, SWAP, which garnered so much interest that its presale sold out in under a minute. Since its launch, TrustSwap has been featured in various major news outlets and has formed partnerships with other significant projects like UniMex, Unilayer, and Shopping.io, which have committed to sharing a portion of their fees with SWAP token holders.
TrustSwap’s Ambitious January Goals
On December 31, TrustSwap laid out an agenda for January 2021, which includes launching a new NFT and ERC-20 marketplace called Swappable, initiating UniMex launch and staking rewards, unveiling a new security platform, conducting a GLITCH token sale, redesigning their token/liquidity lock portal, and refreshing their website and staking portal.
As of now, many of these objectives are either completed or nearing completion. The initial weeks of January were dedicated to promoting the GLITCH token sale, which turned out to be a resounding success, with the presale being oversubscribed by three times. Concurrently, the integration with UniMex has initiated additional staking rewards for SWAP holders from generated fees.
Moreover, TrustSwap announced an integration with the Polkadot network, allowing its software services to be utilized within that ecosystem. Recently, the project’s CEO, Jeff Kirdeikis, shared that the TrustSwap Security Platform is on the way, promising to impress users with its aesthetics and functionality. This new product aims to create a comprehensive ecosystem that addresses various vulnerabilities associated with scams, including mint functions, exploits, hidden code, team token dumps, and liquidity pulls.
TrustSwap has also indicated that upgrades are in the pipeline for both its Staking Portal and Homepage, showcasing a commitment to continued innovation. With just a little over a week remaining in January, TrustSwap is making significant strides toward fulfilling its promises, marking the month as a pivotal period for the company.
