With plans in motion for its Mainnet launch, the upcoming DeFi platform TrustSwap has released details of several major updates.
According to the announcement by TrustSwap, three major updates have recently been completed on the platform. Among which are its upcoming SwapDrops and Launchpad transactions as well as an important addition to its team.
Updates in detail
Several exciting changes are taking place on the DeFi-focused platform TrustSwap. The platform confirmed this announcement on Twitter.
An Announcement so big, it needed an entire blog post:https://t.co/Cji3FW1Opu
TLDR:
1) Onboarded the #2 at @CoinMarketCap, & biz-dev expert @lukeswagman
2) Futures DEX, w/ fees going to SWAP stakers
3) Secondary yield farmed token for SWAP, designed to save gas fees on ETH— TrustSwap (@TrustSwap) September 1, 2020
1. A recent addition to the team
The DeFi platform recently employed former Goldman Sachs analyst Luke Wagman. Wagman at Goldman Sachs served as an intermediary between the firm’s traditional and crypto finance transactions. Next, he got employed by CoinMarketCap (CMC) where he helped evaluate coin and exchange listings on the platform. Apart from this major function at CMC, Wagman also helped facilitate several important partnerships, e.g CMC partnership with Yahoo Finance. He was also a huge force in terms of marketing, product development, execution, etc.
Wagman will help facilitate the introduction of TrustSwap to both crypto and traditional financial systems. His employment at TrustSwap is definitely a plus for the DeFi-focused platform.
2. A special development team
To facilitate the smooth launch of its decentralized exchange embedded with both margin and options trading, the DeFi platform has enlisted the support of a special development team. The team, prior to this time has created a centralized margin exchange so creating a decentralized one will require less time. It is important to note that most of the funds made from the DEX exchange will go directly to users who stake SWAP.
While the addition of the development team is a huge addition, the focus remains on finalizing all the proposed products of the TrustSwap ecosystem.
3. Plans to launch SGAS
SGAS is a minor utility token of the TrustSwap ecosystem. The platform is currently analyzing the requirements needed to launch a yield farming platform for SGAS.
While ETH gas prices are outrageous, SGAS has designed a way to make them affordable. SGAS purchases ETH gas at low prices, users can then burn SGAS when ETH gas price increases. The token (SGAS) will provide discounts both on TrustSwap and on Ethereum mainnet network.
For now, SGAS can only be gotten by staking SWAP.
More Updates
- Details on TrustSwap SwapDrops and Launchpad will be published soon. Both projects will majorly profit long term holders as well as traders with high amounts of SWAP tokens.
- TrustSwap is in dialogue with about 10 top-notch exchanges. More details about the discussion will be released in the near future.
- TrustSwap mainnet is expected to also go live in 7 day’s time.
Altcoin Buzz recently conducted an exclusive interview with Jeff Kirdeikis, CEO of TrustSwap where he shared the important details about the platform on the Altcoin Buzz YouTube Channel.
Trustswap price at the time of publishing this article is $0.721329 with a 24-hour trading volume of $4,223,670. SWAP price has gone up 155.1% in the last 30 days. SWAP has a Market Cap of $46,512,369 and so far has hit an all-time high of $1.65 on August 19, 2020.
