Intro
Trustswap a very new project in Cryptoverse is trying to solve the major pain points of crypto industry. It has plans to bring new and innovative products.
The crypto space has developed a lot since its infancy but there are still some core issues to solve. During the Icomania of 2017. Any project with just a plain website and whitepaper and no product, prototype or mvp was raising insane amount of money in millions of dollars. While some ICO did great but majority of ICO failed and huge number of scams and frauds also took place.
When the bear market actually kicked in investors became somewhat cautious. We still don't have safe way to know about genuinety, reliability of an early project even if popular faces are involved with the project. There is always a huge risk investing at an early project.
That's why though ICO model was made to remove VC model and get public from start , due to scams and frauds , VC model took over in bear market and still is dominating. To remove the inefficiency of ICO model many new models came up like IEO (Initial Exchange offering) , Initial Dex offering etc but still there are many trust issues needs to be solved.
Trustswap is a project which is trying to remove the inefficiency and also build some new cool products made possible through advent of smartcontracts. Let's know in details of it's benefits
TrustSwap Usecases
DAICO
DAICO are improvement over traditional ICO model and include DAO (Decentralised autonomous organisation) features. This was first proposed by Vitalik Buterin. Investors feels safe as all money don't go to developers in one go but by completing milestones and it improves investors confidence and safety.
- Trustswap will help in securely transfer the assets between two parties without using any middlemen. Individual to individual trade is possible and you don't need an exchange for that
- This will heavily boost the peer to peer business and trading without even going to some third party like exchanges or brokers
- Built in timelock and escrow functions will make sure that both parties agree to there contract. Chances of scams and frauds reduce to near zero
- Due to supply of capital in controlled fashion investors will be safe as project founders can't exit scam with the money. he moment there is lack of progress in project or red flags started showing investors can easily stop the payments
- Project can issue the tokens in time bound manner and make sure investors are for long run and also too much tokens don't flood the market once and cause panic in retail investors.
Crypto Subscriptions
Crypto subscriptions is a major use case and multi billion dollar industry . From newspapers to tv , software apps, websites all use subscription model but people face some problems in traditional subscription model which crypto subscription can easily solve.
- Website owners, youtubers, independent artists , news publishers etc will benefit immensely from this
- Users Can easily cancel the subscription and there will be no charge back and unnecessary charges like credit card
- Programmable subscription for custom functionality
- Truly global as crypto can travel borderless very fast and easily , you won't need to fill any crazy bank and card details
Defi
Defi stands for Decentralised finance and is getting very hyped up, Defi will shake up the traditional finance and legacy system in years to come. Trustswap will also build defi products including Dex , lending protocols and other financial products.
- Staking of Swap tokens will give commission on fees generated by business.
- 80% of revenue or fess paid in swap will be shared to token holders. 10% goes to foundation and 10% fees will be burned making supply deflationary
- Lending
- Token wrapping
Trustswap Important Points to Note
Trustswap Mainnet will launch in August 2020 End. The team looks solid and they are adding more developers ,advisors to the team. You can know more about project by clicking on website link below or choose to join the growing telegram community.
One Pager
Onepager clearly shows vision and Usecases of the project along with the expected timeline and details about team. Whitepaper will be available soon ,and I will update it here.
Team
Trustswap is leaded by Jeff Kirdeikis who runs another project Uptrendd which is already launched. The CTO have experience in working in Intel and GoDaddy which gives this project a strong tech foundation. Joaquim Miro whose expertise deals in investment and dealing with institutional clients.
On advisors side they have famous crypto YouTuber Ivan on Tech which can help him in guiding Crypto Subscription product as he knows the nitty gritty of being a YouTuber and can share the problems he face in normal subscription menthods. Also he can be great marketing asset to the project. Another famous crypto YouTuber Michael gu is on advisor board.
Former CTO of coinmarketcap is also an advisor which can help the tech team.
Github Repository
The team has started a public Repository for the project. Right now two contracts are published in repo. We expect a great update and commit soon as testnet starts early August and Mainnet on end of August.
You can check the Github Repository below.
Trustswap Token Price and Market Performance
Trustswap was sold to OTC buyers at price of 0.005 USD, and it launched in Uniswap at around 0.03 USD. Right now it's sitting at 0.25-0.33 USD range with all time high of 0.38 USD.
It's currently listed in Uniswap, mxc, biki and major exchanges are coming soon.
Full historical price movements can be found in Coingecko.
Considering it's still a very early project and has small market cap it has huge room to grow. If it succeed to capture the siginificant market than it will be a billion dollar business for sure.
Conclusion
Trustswap is a major project which can solve many important issues crypto industry and legacy finance facing today. I am most excited about DAICO and crypto subscriptions. When you just have to click just one tap to subscribe to your favorite YouTuber , website with crypto.
The true potential of this project will come in picture when big names in crypto industry will start using services of crypto sunbcriptions and DAICO. In defi it will definitely get huge competiton as already lots of similar project has come up and Maker Dao, Compound, Aave, Synthetix are making huge Waves.
As Banks are now allowed to have the custody of crypto , lots of compliance and legal issues are also solved which means within next two to three years we may be using a lot of real crypto products, just beside trading, speculating and gambling.
You may also want to read
- Best defi data and resource websites
- How to choose a good defi project
- Best defi dapps and project lists
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Disclaimer: This article is not an investment advice. Kindly do your own research before investing in any project.