Trust Wallet is a cryptocurrency wallet. The platform was acquired by Binance in 2018.
TWT is Trust Wallet’s native token. It’s a governance token that allows holders to participate in Trust Wallet’s governance and vote on proposals. It also offers a range of other benefits and incentives for holders.
Here’s everything you need to know about TWT…
What is Trust Wallet?
Trust Wallet is a hot crypto wallet that allows users to send, receive and store digital assets, and collect NFTs. The wallet supports BEP2, ERC20 and ERC721 tokens, and Ethereum, Solana and all EVM chains (including Binance Smart Chain, Polygon, and Avalanche).
Trust Wallet offers fiat onboarding, allowing users to buy crypto with credit cards. It also offers access to DApps and has integrated with DEXs (decentralised exchanges) like Pancake Swap, Uniswap and Binance DEX, allowing users to access the ecosystems within the app.
When purchasing crypto within the app, users need to pay network transaction fees (which vary depending on the blockchain). Trust Wallet also charges a 1% fee on top of every crypto purchase. However, users can waive the fee by holding at least 100 $TWT in their wallet.
What is TWT?
TWT is Trust Wallet’s native token. As a governance token, it allows holders to participate in Trust Wallet’s governance and vote on app update proposals.
Holders also receive discounts on Trust Wallet services and crypto purchases. Note that TWT doesn’t have any utility outside Trust Wallet’s ecosystem.
TWT can be purchased on Binance. Trust Wallet users can also earn TWT tokens through marketing campaigns, airdrops, and giveaways.
TWT was initially launched on Binance Chain. In 2020, it was relaunched on Binance Smart Chain. As part of this transition, 99% of the original TWT tokens were burned. The new maximum supply is 1 billion TWT.
TWT’s circulating supply will gradually increase as TWT tokens are earned by users for completing tasks such as trading and participating in referral campaigns within the Trust Wallet app.
The initial distribution of TWT is as follows:
- 40% allocated to user acquisition
- 30% held in reserve
- 15% allocated to Trust Wallet community
- 15% allocated to developers
For more on Tokenomics and why it’s important, check out our dedicated series here.
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Disclaimer: NOT FINANCIAL NOR INVESTMENT ADVICE. Only you are responsible for any capital-related decisions you make and only you are accountable for the results.
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