What Is Trust Wallet Token (TWT)?
Trust Wallet Token, or TWT, is a simple BEP-20 utility token that provides a range of benefits and incentives to Trust Wallet users. Trust Wallet itself is a mobile cryptocurrency wallet that supports dozens of popular native assets, in addition to popular tokens on the Ethereum, Binance and TRON blockchains.
Holders of TWT tokens unlock a variety of benefits when using Trust Wallet, including discounts on in-app cryptocurrency purchases and on the use of decentralized exchange (DEX) services. TWT holders can also participate in the governance of Trust Wallet and can vote on Trust Wallet update proposals, helping to shape the development of the app.
What Makes Trust Wallet Token Unique?
Trust Wallet Token is a utility token designed to provide additional value to users of the Trust Wallet mobile app it doesn't have any utility outside of the Trust Wallet ecosystem
Despite this, as a BEP-20 asset, Trust Wallet Tokens can be transferred to any wallet that supports Binance Smart Chain assets, where it may be exchanged against other assets or used as payment for services. Since it also confers voting rights and governance over the development of Trust Wallet and can be used for discounted DEX trades and in-app purchases, TWT has gone on to develop value of its own as a speculative instrument.
Tokenomics
As part of the transition to Binance Smart Chain, 99% of the original TWT token supply was burned and the new maximum supply was set at 1 billion TWT-of this, just over a quarter is currently in circulation.
The circulating supply of TWT will gradually grow as TWT tokens are earned by Trust Wallet users for completing various tasks, such as by participating in referral campaigns, taking quizzes and completing tasks within the app - like cryptocurrency staking and trading.
As per the official source, 40% of the TWT token supply will be targeted towards user acquisition, 15% will be distributed to the Trust Wallet community, 30% will be held in reserve and 15% is allocated to developers. As of October 2020, Trust Wallet has not yet published the full tokenomics or emission schedule for the Trust Wallet Token.
How Is the Trust Wallet Token Network Secured?
Based on Binance Smart Chain, the Trust Wallet Token is backed by a rigorously tested proof-of- stake (POS) consensus mechanism. This is used to protect the network against a range of potential threats, including 51% and Sybil attacks.
It's also protected by a generous bug bounty program operated by Binance, which pays up to $10,000 in BNB to anybody that discovers a vulnerability on Binance Chain and its core smart contracts.
Beyond this, as a BEP-20 asset, TWT is secured by the security of the wallet software used to manage it. For Trust Wallet, this includes a passcode security lock and a 12-word recovery phrase.
Where Can You Buy Trust Wallet Token (TWT)?
Trust Wallet Token is available to purchase and trade on a variety of platforms. including both - centralized and decentralized exchanges. MXC and Binance DEX are among the most liquid exchanges for TWT. The token is currently tradable against a range of other cryptocurrencies, including Tether (USDT), Bitcoin (BTC) and Binance Coin (BNB).
