TrustSwap has accomplished something above and beyond expectations. The DeFi platform that sold out its token sale in less than 60 seconds on July 9 went live with its mainnet on Sep 14. The community’s excitement around the project’s mainnet is so high that, within one hour, 4,000,000 SWAP were staked.
The rush of stakers seems to be driven by the hunger for more power and more rewards. That’s because the TrustSwap stakers will be the voters for platform governance decisions. Furthermore, longer SWAP staking creates a multiplier effect on the SWAP staking reward. Thus, staking means more power, more rewards.
This is just the beginning. For the month of September, the platform has 16 integrations planned.
The DAICO service suite
DAICO was first proposed by Ethereum’s founder Vitalik Buterin. It is an improvement over the existing ICO model and will include decentralized autonomous organization (DAO) features. According to the TrustSwap mainnet website, the platform is ready with a time-based payments service, which is a major requirement for supporting DAICO. The following features are live:
- Team Token Locks
The team tokens will be locked. The release will occur slowly so that investors are confident that the team is here is stay.
- Investor Token Locks and Vesting
The platform will also lock investor tokens, which will protect investors against large investor dumps.
- Escrow Services
With escrow services, the platform eliminates the need for any middleman.
- Multiple Recurring Payments
The current crypto payment setup does not support the subscription model. Using the multiple recurring payments feature, subscription models can be built.
- Single-Event Future Payments
With TrustSwap’s event-based payments, investors can get more worth out of their investments. The platform will create a roadmap of the project’s accomplishments. Furthermore, users will be able to track the progress of the project. When the project accomplishes a particular milestone, the investments will be made.
The escrow service already has a taker!
TrustSwap also announced integration with Mandala Exchange today. Mandala is the first private cloud integration of Binance Cloud and shares liquidity with Binance. According to the official tweet, Mandala will be using TrustSwap’s Escrow Services for on-platform large-volume OTC.
Tribute SwapDrop is on!
The Tribute SwapDrop is also available now. According to the announcement, 3.5% of the Tribute supply, which comes out to be 17,500 TRBT, will be airdropped to the top 3,000 SWAP D.A.S.H holders. The TrustSwap DASH holders will have to manually claim their airdrops on the Multisender Dapp.
Next evolution of TrustSwap
Along with mainnet development, TrustSwap’s SwapDrop and Launchpad models are also evolving. Furthermore, the team is listening to community feedback and acting upon it. Currently, TrustSwap is trying to democratize the opportunities for new holders, long-term holders, and holders with larger token balances.
We've received a lot of feedback on how to improve the Launchpad and SwapDrop access models, and we are happy to say, we are making iterations based on that feedback to enable a more fair and inclusive ecosystem:https://t.co/NzD2KEWkUo
— TrustSwap (@TrustSwap) September 13, 2020
It is now exploring a new system that will be a combination of DASH and a three-tier lottery system. With this system in place, the team expects the results will be provably fair.
We interviewed Jeff Kirdeikis on the Altcoin Buzz YouTube channel to better understand TrustSwap and its roadmap.