Information about "Trust Wallet Token"
What Is Trust Wallet Token (TWT)?
Trust Wallet Token, abbreviated as TWT, serves as a straightforward BEP-20 utility token, offering numerous perks and rewards to users of Trust Wallet. Trust Wallet itself is a mobile cryptocurrency wallet compatible with a wide array of popular native assets, as well as well-known tokens from the Ethereum, Binance, and TRON blockchains.
When you hold TWT tokens, you gain access to several advantages within Trust Wallet, such as discounts on cryptocurrency purchases made in-app and on the use of decentralized exchange (DEX) services. Additionally, TWT holders can engage in the governance of Trust Wallet, allowing them to vote on update proposals and influence the app's future development.
Initially, Trust Wallet Token was introduced as a BEP-2 asset on Binance Chain, but it transitioned to a BEP-20 token format on Binance Smart Chain in October 2020.
When you hold TWT tokens, you gain access to several advantages within Trust Wallet, such as discounts on cryptocurrency purchases made in-app and on the use of decentralized exchange (DEX) services. Additionally, TWT holders can engage in the governance of Trust Wallet, allowing them to vote on update proposals and influence the app's future development.
Initially, Trust Wallet Token was introduced as a BEP-2 asset on Binance Chain, but it transitioned to a BEP-20 token format on Binance Smart Chain in October 2020.
What Makes Trust Wallet Token Unique?
Trust Wallet Token is a utility token crafted to offer extra value to users of the Trust Wallet mobile application. Its utility is mostly confined to the Trust Wallet ecosystem.
Nevertheless, as a BEP-20 token, TWT can be moved to any wallet that accommodates Binance Smart Chain assets, allowing it to be exchanged with other assets or used to pay for services. The token also grants voting and governance rights concerning Trust Wallet’s development, along with providing discounts for DEX trades and in-app acquisitions. Over time, TWT has gained its own value as an investment option.
TWT was among the first tokens to be launched on Binance Smart Chain (BSC), a high-performance blockchain focused on smart contracts and decentralized applications (DApps). This enables TWT transfers to incur very low fees and offer quick transaction confirmations.
Nevertheless, as a BEP-20 token, TWT can be moved to any wallet that accommodates Binance Smart Chain assets, allowing it to be exchanged with other assets or used to pay for services. The token also grants voting and governance rights concerning Trust Wallet’s development, along with providing discounts for DEX trades and in-app acquisitions. Over time, TWT has gained its own value as an investment option.
TWT was among the first tokens to be launched on Binance Smart Chain (BSC), a high-performance blockchain focused on smart contracts and decentralized applications (DApps). This enables TWT transfers to incur very low fees and offer quick transaction confirmations.
How Many Trust Wallet Token (TWT) Coins Are There in Circulation?
As part of the shift to Binance Smart Chain, 99% of the original TWT tokens were burnt, establishing a new cap of 1 billion TWT, with just over 25% currently in active circulation.
The amount of TWT circulating will increase gradually as users earn tokens through Trust Wallet by carrying out various activities, like participating in referral programs, taking quizzes, and completing app-based tasks such as staking and trading cryptocurrencies.
According to official sources, 40% of the TWT token supply is earmarked for acquiring new users, 15% is designated for the Trust Wallet community, 30% is held back as a reserve, and 15% is set aside for developers. As of October 2020, the complete tokenomics or emission schedule for Trust Wallet Token has yet to be fully disclosed.
The amount of TWT circulating will increase gradually as users earn tokens through Trust Wallet by carrying out various activities, like participating in referral programs, taking quizzes, and completing app-based tasks such as staking and trading cryptocurrencies.
According to official sources, 40% of the TWT token supply is earmarked for acquiring new users, 15% is designated for the Trust Wallet community, 30% is held back as a reserve, and 15% is set aside for developers. As of October 2020, the complete tokenomics or emission schedule for Trust Wallet Token has yet to be fully disclosed.
How Is the Trust Wallet Token Network Secured?
Built on Binance Smart Chain, Trust Wallet Token is safeguarded by a thoroughly vetted proof-of-stake (PoS) consensus mechanism, which shields the network from potential risks such as 51% and Sybil attacks.
Additionally, the network benefits from a generous bug bounty program managed by Binance, offering rewards of up to $10,000 in BNB to anyone who identifies a vulnerability in Binance Chain and its essential smart contracts.
Moreover, as a BEP-20 token, TWT's security is contingent on the security features of the wallet software managing it. For Trust Wallet, these features include a passcode lock and a 12-word recovery phrase.
Additionally, the network benefits from a generous bug bounty program managed by Binance, offering rewards of up to $10,000 in BNB to anyone who identifies a vulnerability in Binance Chain and its essential smart contracts.
Moreover, as a BEP-20 token, TWT's security is contingent on the security features of the wallet software managing it. For Trust Wallet, these features include a passcode lock and a 12-word recovery phrase.
Where Can You Buy Trust Wallet Token (TWT)?
Trust Wallet Token is accessible for purchase and trading on numerous platforms, including both centralized and decentralized exchanges. MXC and Binance DEX are two of the most liquid marketplaces for TWT. The token can be traded against a variety of other cryptocurrencies, such as Tether (USDT), Bitcoin (BTC), and Binance Coin (BNB).
If you're interested in buying cryptocurrencies like Trust Wallet Token with fiat currency, you can find more information on how to do so here.
If you're interested in buying cryptocurrencies like Trust Wallet Token with fiat currency, you can find more information on how to do so here.
