I bought some Trust Wallet Token (TWT) a few weeks ago because
- I'd just downloaded the Trust Wallet App to get into Rune pooling on Bepswap and I love it - it's a very functional wallet, more of that below.
- I was attracted by the very high 200% APY on Pancake Swap TWT-BNB pool, and I had some of the later kicking around already.
I didn't go in too deep with TWT, and on review I'm glad I didn't, although I'm not about to pull out of the pool and sell either.
What is the Trust Wallet Token?
The description on CoinMarketCap says Trust Wallet Token is a simple BEP-20 (also BEP2) utility token that offers a range of benefits to Trust Wallet Users - such as discounts for using their DEX and giving you voting rights.
OK, fair, enough, BUT the problem is that when you go to the Trust Wallet Token homepage, there is literally NO MENTION of any this, and the community pages seem pretty dead too - Telegram is just old announcements, you can't input anything, and there isn't much in the way of recent news released on their blog either.
However, I think this might be a case of ongoing development of the wallet taking precedence over communication and marketing - there are a lot of 'commits' going on in the background and the wallet app just works, it has beautiful functionality.
And the TWT homepage does look very professional - it just directs you to download the app and get interacting with crypto!
Trust Wallet - A Very Functional Wallet
The mobile wallet works on both apple and android and supports several tokens - in regular form, BEP2 and BEP20 format - as appropriate - I mainly downloaded it so I could pool into the BEPSWAP network with my Rune, and just loved the way it interacted with that - no problems at all.
You can also swap assets via the Trust Wallet - although I wouldn't trust their exchange rates necessarily, and you can swap from between BEP2 and BEP20 too.
Some assets you can stake via the wallet too - BNB (minimum stake) gives you around a 16% return, not the best, but it's still an option that you don't get with too many mobile wallets.
Fees are very low too.
TWT tokenomics
There's currently around 250M TWT tokens in circulation - 25% of the supply - so a projected 1 Billion max supply. Going forwards....-
- 15% are earmarked for developers
- 15% for existing community members (whatever that means)
- 40% for 'new user acquisition (there's a referral scheme)
- 30% in reserve - I think we can assume these are going to be burned, knowing Binance.
TWT is a Binance Token
It's worth keeping in mind that TWT was acquired by Binance a couple of years ago, so this is a Binance token, and this is basically Binance's mobile application.
This means it is in Binance' Interest to keep the token price up - so there may be limited uses for the token at the moment, but I can just see TWT having more staking functionality in the future on the wallet app - possibly along the lines of SXP or AVA - stake higher amounts and you get higher benefits for in-app functions.
Knowing that this is Binance behind the project, and knowing just how smooth the app is and how functional, at least for Binance chain interactions, I think there is room for price growth in 2021.
Final thoughts - TWT - worth buying?
The price is kind of floating along at around $0.50 ATM, and it's been draining my BNB that I've pooled it with, but not at an alarming rate, and I think there's some medium term potential for growth, so I don't mind accumulating a bit more in-pool, but I won't be looking to accumulate more given that the functionality of TWT is limited to Binance, and I'm feeling a bit overexposed to Binance products already.
It's also going to be an easy sell if the price increases even just two times... I don't feel attached to this one!
Posted Using LeoFinance Beta
It's great to hear that you've been enjoying the functionality of Trust Wallet and its native token, TWT. While it's true that the communication and marketing for TWT might not be as active as you'd like, there's an excellent opportunity to maximize the potential of your TWT tokens with TWT Stake.
TWT Stake is a platform that allows you to stake your TWT tokens and earn even more TWT as rewards. By staking your TWT tokens on TWT Stake, you can increase your TWT holdings and benefit from the potential growth of the token. Plus, with the backing of Binance, there's a good chance that TWT will continue to develop and expand its use cases in the future.
Considering your experience with Trust Wallet and TWT, you may find it interesting to explore the LeoFinance page dedicated to TWT Stake for insights and discussion on this staking platform. It's a great resource to stay updated on the latest news and developments in the world of Trust Wallet Tokens and staking.
In summary, while it's essential to consider your exposure to Binance products, TWT Stake might be a valuable addition to your crypto investment strategy. Give it a try and unlock the full potential of your TWT investments by staking your tokens and reaping the rewards.
Posted Using LeoFinance Beta
Thanks I will have a look.
I hope that it triples fast as it would have been a good buy. Binance is aquiring so many interesting projects, that is sure. Even if we like decentralization, the guys from Binance show us how a project is done right.
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It does have very smooth functionality!
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This token has a lot of volume on thorchain. I was thinking of pooling some myself
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Yes I noticed it on thorchain, I opted for the BSC pool myself - I didn't really want to risk this with the Rune i've got.
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I think this is a good buy and there are a lot of interesting token for hodlers ahead - I bought it a month ago.
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