In terms of innovation, security, and services, TrustSwap is one of the most popular platforms in the Decentralized Finance (DeFi) sector. The company offers one of the simplest methods to the users and investors to conduct secure and quick crypto transactions without relying on a trusted middleman.
How TrustSwap Evolved?
The firm was founded by current CEO Jeff Kirdeikis, who claims that the ICO phase for cryptocurrencies was hampered by expensive legal expenses and pump and dump concerns with tokens.
When a Venture Capital firm invests at a discount in a crypto project, the business selling the tokens must ensure that the coins are not sold shortly after, plummeting the token’s market price. While attorneys might resolve this issue for a 5% to 10% charge, Mr. Kirdeikis believed there could be a less expensive alternative.
This is why he devised the concept of a smart-contract service that would enable time-based payments. This strategy would assist in mitigating the negative impact of VC firms selling the coins they purchased at a bargain at market values, resulting in a market crash.
What are the Key Features of TrustSwap?
The TrustSwap platform enables customers to trade money in a dependable and safe manner. Users can be worry-free that their payments will be processed correctly and on time in a completely automated manner. This resolves several market difficulties that were harming users and businesses.
Users can also simply divide their payments and submit them on separate dates. It’s worth noting that TrustSwap is presently operating with all Ethereum-based currencies on the market, including stable coins like True USD (TUSD) and DAI, among others.
Several virtual currency organisations are now experimenting with stablecoins and compensating clients and employees in these stablecoins. This is why the work TrustSwap is now undertaking with its services and features are crucial.
How TrustSwap Works?
This platform functions in a very basic and straightforward manner, allowing businesses to send and receive payments without relying on a trusted third party. The user must pick the amount to be paid, the number of payments to be made, and the beneficiaries of the payments while utilising this platform.
TrustSwap is associated with several companies and use cases. Therefore, it aims to transform the DeFi sector and help businesses to cut the amount of time they spend processing payments. Process automation of TrustSwap is also a significant approach to standardize how businesses and startups work, enhancing efficiency and productivity.
Best Use Cases of TrustSwap in the Industry
The company is presently offering a wide variety of use cases to help corporations and investors manage their assets.
One of these has to do with time-locked tokens. It is conceivable to bind founder and staff tokens to a time-based release schedule in order to boost investor and user trust.
TrustSwap addresses this issue by allowing inventors to provide a clear plan for how payments from token makers to founders and other participants will be processed.
The Instant Will execution would let you construct a smart contract that would distribute your assets to your loved ones after you die.
Despite the fact that this is a very sad topic to discuss, it is critical to know that the assets we possess will not be lost.
One recent example is the problem that afflicted the Quadriga CX cryptocurrency exchange. Gerald Cotten, the platform’s owner, died in January 2020 as a result of a sickness that afflicted him, according to the exchange.
The greatest standardised difficulty that consumers faced was that Mr. Cotten was the only one who had access to the bitcoin exchange’s private keys and the funds it held. Until far, there has been no information on which wallets were utilised by the platform or whose private keys were maintained by the corporation.
TrustSwap is working hard to ensure that these problems do not reoccur. If businesses and users take the required steps to properly manage their cash, TrustSwap stays ready to offer the infrastructure needed to facilitate these payments.
Furthermore, TrustSwap accepts monthly and weekly memberships. Users may quickly sign up and pay for subscriptions using their favourite cryptocurrency on the market using the site. While it is currently very challenging to automate crypto payments on standard platforms, TrustSwap is striving to do so.
This will cut the number of hours required to process payments for your subscriptions or monthly and regular transactions that must be found from corporations or individual users to third parties.
TrustSwap also supports automatic employee payments. This is one of the most essential aspects of TrustSwap and how it is assisting crypto companies in improving their standards and making their operations more efficient.
What is the Two-Party Swaps Smart Contract Feature of TrustSwap?
TrustSwap’s smart contracts are also incredibly beneficial for doing quick and trustless deals with anybody on the globe. If you find someone selling a virtual currency at a specified price and want to be certain that you will receive the payments, TrustSwap will make it secure and quick.
The site will enable you to specify how much money you want to transfer for the cryptocurrency you’ve purchased, and you’ll have to wait for the other person to deposit the money. When both parties reach an agreement, the money will be handled swiftly and without complications.
This may make it incredibly quick and simple for consumers to obtain the monies they have been waiting for without having to rely on a third party or middleman. TrustSwap improves and simplifies the management of your assets, the exchange of cryptocurrencies, and the handling of money with strangers or individuals you don’t know.
Wrapping It Up
TrustSwap is one of the toughest competitors in the Decentralized Finance sector that will facilitate payments with digital currencies. Companies, consumers, and firms may begin using the TrustSwap platform to handle payments in a quick and safe manner.
The SWAP token will be used to reward users that bet their money. Furthermore, the governance mechanism and deflationary qualities of the SWAP tokens will make participation in the TrustSwap economy highly appealing to investors.
TrustSwap will be one of the most valuable firms for traders and consumers who wish to make frequent payments without relying on a trustworthy third party by issuing an Initial Liquidity Offering.