TrustSwap is a foundational layer in decentralized finance, enabling safe, and customizable transactions for the global crypto ecosystem.
No need for a middleman, just use TrustSwap!
Background
“A Venture Capital firm wanted to invest $50,000 into project tokens at a discount. Our company wanted to make sure that once the tokens were sent, they wouldn’t sell them all at once and crash the token price. The only way to ensure this was to hire a lawyer to act as a middleman, who would send fractional amounts of the tokens to the VC firm over time, for a 5-10% fee.
Absolute insanity. I figured there had to be something already created that implemented this service in a smart-contract, for a fraction of the cost. There wasn’t. Infact, there was nothing that allowed for time-based payments at all. No trustless escrow for institutions, no trustless team-token lockups, no automated employee payments... nothing.
That realization happened on June 19th 2020. Here we are today.
Welcome to TrustSwap.”
- Jeff Kirdeikis, CEO
TrustSwap Explained
Key Features
Decentralized Finance, made easy
Crypto Subscriptions
Recurring subscriptions are by far the most used billing method for online service providers in the world. TrustSwap allows online retailers to integrate crypto subscriptions, directly onto their sites, using any Ethereum-based token. From online courses to Patreon content creators, there is no limit to the potential. This can even be used to automate employee salaries!
Escrow Services
Billions of dollars have been invested through Venture Capital firms to crypto companies. Nearly every time, the fees for lawyers and middlemen is ludicrously high. TrustSwap is removing the middleman, and providing a non-custodial, fully audited and secure solution for large dealflow to transact securely, quickly, and for minimal fees.
Tokensale Launchpad & Trusted Coin Offerings (TCO’s)
TrustSwap is providing the new “Gold Standard” in token launches through:
- Team Token Locks: Teams lock in their tokens, vested over a period of time, allowing for simplicity and immutable transactions.
- Event-Based Payments: Teams can only unlock investment funds after they hit promised milestones. If they don’t hit the milestones, investors can get their investment back. Governance for this is done using the SWAP token, in combination with the project's native token.
- Investor Token Release: By slowly distributing tokens to tokensale investors over time, both the company and investors understand that tokens will be distributed slowly, reducing the likelihood of a single large liquidation event.
- Early Access: Holding and staking SWAP will allow priority access to token presales and airdrops.
Wrapping as a Service
Wrap any token onto the Ethereum network, allowing it to interact with wallets, decentralized exchanges and the TrustSwap ecosystem. This saves projects a massive amount of time and money. Building proprietary wallets is arduous, and listing lesser-used chains on exchanges is extremely expensive. Wrapping as a Service will allow any project to interact with the Ethereum Network seamlessly.
Selected Use Cases
TrustSwap is a novel and versatile platform with numerous use cases. Here are some of the prominent ones.
Use Cases
Automated employee payments
With SmartLocks, you never have to use antiquated payroll software again.
Have payments delivered at an exact time & date to any employee through an accountable smart contract.
Time-locked tokens
Lock up founder and employee tokens on a time-based release schedule allowing for simple and immutable transactions.
Monthly/Weekly Subscriptions
Set up and pay for subscriptions using cryptocurrency.
Instant Will Execution
Create a will on a smart contract that will automatically release funds to your loved ones after you pass away.
Instant Gifts & Payments
Send an automatic gift to your son on his 18th birthday or a weekly allowance to your daughter.
Time-Released Payment
Do you want to make sure that a payment is going to get sent at a certain time?
Now you can set it and forget it with SmartLocks.
Maybe you’re an employer looking to automate payments to contractors or a parent sending a weekly allowance to your kids.
No matter the situation, SmartLocks gives you confidence that the payment will land on time, every time.
All you have to do is set:
- The amount to be paid.
- The number of payments to be made.
- How much to set each payment to, and you're done!
Two Party Swaps
Do you want to make an instant and trustless trade with someone? TrustSwap has you covered with SmartSwaps.
You want to trade 4 ETH for 1,000 TUSD.
You find a buyer online and a deal is made. But who sends first? How do you ensure that both sides honor their agreement in a way that doesn't require trust or any third-party involvement?
Here's how to make the trade:
- You both set and agree to the terms of the trade.
- You both fund the contract with your side of the deal.
- Once both parties have put in their amounts, the trade instantly goes through! Done!
Jeff Kirdeikis
Received 1 ETH for 240 USDT from Alex Jones
German Williams
Send 140 DAI for 2 ETH to Vanessa Williams
Adam Barlam
Send 10000 1UP for 1 ETH to Jack Jones
Misty Johnson
Received 1 ETH for 10M HEX2T from Clark Dawson
Enterprise Services
TrustSwap's suite of highly secure and customizable services can be tailored to fit many useful business applications.
The Situation
You’re a crypto company looking to sell tokens to an investor.
- You receive an offer of $100,000 for 5,000 tokens
- However, you want to make sure that once you send your 5,000 tokens you will receive USD back.
- Lastly, upon delivery of the 5,000 tokens you want to make sure the receiving party won't instantly sell all tokens.
Secure Transfers
With TrustSwap you can set up a SmartSwap contract that lets you receive $100,000 and send your tokens at the same time without any counterparty risk.
Time-Release Transfers
With TrustSwap you can set up a SmartLock contract to slowly release the 5,000 tokens at whatever frequency and interval you chose. Sounds simple? It is!
Low Fees
Lawyers usually charge 5-10% to act as middlemen, who can make errors in their transactions. Using Trustswap, you can pay as little as 0.25% of the transaction value as a fee. In the scenario above, using a lawyer would normally cost $5,000 - $10,000.
With SmartLocks, this would only cost $500 (0.5%) and if you pay using the SWAP token, it only costs $250 (0.25%).
An Evolution in the ICO
What if you could invest into a new project with the confidence that other investors were in it for the long-haul?
What if your investment was only paid to the company AFTER they reached milestones?
What if, as a project founder, you could feel more secure knowing that your token economy would stay much more stable and healthy through the methodical vesting of tokens?
TrustSwap will allow companies to synergize seamlessly with investors by aligning interests in a trustless contract.
An Example ICO
NewCoin is raising $1 million
There are 100 people who want to invest $10,000 each in exchange for 500 NewCoin tokens.
NewCoin can use SmartLocks to set a custom time schedule for how these 500 tokens will be released. They can distribute 100 tokens every 3 months, 50 tokens every month, or any token amount and timeline they chose!
To enter the contract is easy
Both the investor and Newcoin would fund the SmartLock contract with the total amount and then press “agree”.
NewCoin would then receive $10,000, and the investor would automatically receive their tokens at whatever the set schedule was.
Low Fees
Out of the $1M raise, Trustswap would charge a $5,000 fee if paid in SWAP tokens.
80% of this would get distributed to stakers, 10% would be burned, and 10% would go to the foundation.
Phase Two
TrustSwap for the entire crypto market
UNIVERSAL TOKEN WRAPPING
TrustSwap’s system will allow ANY token on ANY blockchain to integrate with the TrustSwap ecosystem, and beyond, by providing a “wrapping” service which converts any token into an ERC20 at a 1:1 ratio.
ETHEREUM ECOSYSTEM INTEGRATION
Once a token is wrapped, it can interact with the entire Ethereum ecosystem, including metamask, cold-storage wallets, decentralized exchanges like uniswap and beyond.
Want to swap Monero, Bitcoin or Cardano on Uniswap? TrustSwap makes that happen.
COST-EFFECTIVENESS
Speaking of exchanges, did you know that listing an ERC20 can cost 10X less than listing unique blockchain coins? Using TrustSwaps wrapping service, projects save thousands of dollars in listing fees.
REALISTIC GOALS
Sounds cool, but does anyone use wrapping?
Wrapping is so popular, that there are more “Wrapped Bitcoins” on Ethereum than there are Bitcoin on the Bitcoin Lightning Network.
Wrapping works.
TrustSwap is bringing it mainstream.
Infinite Possibilities
Bitcoin
Ethereum
Litecoin
Ripple
Dash Coin
Monero
Tokenomics
The TrustSwap token (SWAP) has many unique features.
Governance
Stakers of SWAP tokens will be able to vote directly on allocating funds from the TrustSwap Foundation fund for further development.
Staking Rewards
Every transaction paid in SWAP rewards stakers with 80% of the transaction fee. 10% is burned, and 10% goes to the foundation
Deflationary
10% of SWAP used as transaction fees for services offered by TrustSwap will be burned. This decreases the total supply of SWAP, thus increasing the value of each SWAP token
Reduced fees
TrustSwap fees are reduced by 50% when using SWAP tokens
Our Roadmap
Liquidity Locks
Launchpad Lottery (NFT ticket system)
SmartSubscription (TM)
Support for NFTs and Other Tokenized Assets
Alpha release of TrustDEX (TM)
SmartWrap (TM)
TEAM
TrustSwap was founded by an experienced team with roots in other projects from Uptrennd to Bravocoin.
Jeff Kirdeikis
CEOJeff is the Founder and CEO of Uptrennd, the world’s most engaged blockchain-based social media platform. He is the host of The Bitcoin and Crypto Podcast, and runs the worlds most engaged FB crypto group.
Adam Barlam
CTOAdam is the dev and founder behind the projects Bravocoin, a platform that allows users to earn crypto for writing reviews and Rebuzz, a decentralized social network. He has previously worked as a Sr. Architect at Godaddy and Intel.
Joaquim Miro
CGOJoaquim was the youngest Canadian inducted to the Canadian Marketing Association and currently works with gda.capital, connecting institutional money to crypto.
Bradley Townsend
Buisness DevelopmentBrad is an experienced growth enabler with an extensive business acumen, and has built an impressive network of both C-level executives and notable grass-roots thought leaders. He leverages these to strengthen the presence of new and running projects, supporting short term growth for sustainable long term development.
ADVISORS
TrustSwap is backed by a notable and experienced team of advisors from the crypto ecosystem.
Michael Gu
BoxminingMichael is the Founder of Boxmining - one of the top crypto YouTube channels with over 200,000 subscribers and 15 Million Views. Michael has been providing top tier independent coverage of the cryptocurrency scene. Michael has participated in the first wave of cryptocurrency investing, with a mining operation in 2012 and key investments in 2017.
Ivan Liljeqvist
Ivan on Tech AcademyIvan on Tech is a blockchain developer, influencer and educator. His educational platform, "The Ivan on Tech Academy" is currently the world's largest blockchain academy. He is also known for his YouTube channel where 235,000 people follow him daily.
Mauvis Ledford
Former CTO CoinMarketCapMauvis is the former CTO at Coinmarketcap, as well as the former Technology and Research Consultant at the Bill and Melinda Gates Foundation. He currently serves as an advisor at the first full-service blockchain accelerator, MouseBelt.
Michael "Mafiaboy" Calce
President @ Optimal SecureMichael is an elite-tier security expert, who is currently the Chair of the Board of Advisors of HP. In his early years, Michael launched a series of highly publicized denial-of-service attacks in February 2000 against large commercial websites, including Yahoo!, Fifa.com, Amazon.com, Dell, Inc., E*TRADE, eBay, and CNN.
Luke Wagman
Former Goldman Sachs & CoinMarketCapLuke previously worked as an analyst at Goldman Sachs, where he provided the link between traditional money and crypto. From there, he was the second person ever to join the CoinMarketCap team, where he built the team responsible for listing and evaluating all the coins and exchanges as well as maintaining the several thousand data fields across the website.
FAQs
Below we’ve provided some answers to the most asked questions. We'll update this over time as the list grows.
Where can I learn more about TrustSwap?
Check out the website, White Paper, and official Discord and Telegram channels for more information. If you can’t find the answer to your question, feel free to ask the community or email [email protected]
Why is Jeff sending me a private message in Discord/Telegram?
That is NOT Jeff. There are many scammers on Discord and Telegram who will impersonate team members. Please be careful and know that the TrustSwap team will not DM you first and will never ask you for money or your private keys. Please report these scammers to the community managers so they can be properly scolded and removed.
Does TrustSwap officially endorse the projects that use their services or whom they launch or collaborate/integrate with? Should I buy a token just because Jeff mentioned it?
No. Neither Jeff nor the TrustSwap team will ever endorse any 3rd party platform, token, or software. While other teams and projects may use our products or even be partnered, integrated, or affiliated with TrustSwap, this does NOT equate to financial advice or an endorsement of any kind. This includes projects that launch on the TrustSwap Launchpad. Always do your own research and due diligence before making any investment.
When is the next (SwapDrop, Pre-sale, Exchange Listing, Announcement, etc.)
All official announcements (including announcements of announcements) will be posted in the official Discord #announcements section and pinned in the Telegram channel. There are also separate Telegram rooms for Announcements and SwapDrop/Launchpad discussion.
What is my DASH/SwapScore?
DASH and SwapScore are on-chain loyalty metrics used to determine eligibility for SwapDrops and pre-sale allocation. All the juicy details of the DASH and SwapScore can be found in this article including instructions to find your current DASH/SwapScore.
What are the criteria and limitations for staking SWAP on TrustStake?
- Minimum stake: 1 SWAP
- Unstake Waiting Period: 7 days
- Approved Wallet: Any Web3 wallet such as MetaMask or MyEtherWallet
- Only 1 stake is allowed per ETH address
- Rewards are locked in the smart contract until unstake/withdrawal process is completed
- U.S. Residents are not eligible to enter the staking portal
What is the APY for staking?
Staking rewards are variable as they are based on a percentage of platform fees paid in SWAP and not a fixed rate. 80% of all fees paid in SWAP will be proportionally divided among stakers and paid out every 3 days. Staked SWAP also accrues SwapScore points over time which can earn NFT tickets for Launchpad Pre-sale Allocation.
Is this like a cryptocurrency exchange?
No. A crypto exchange is like a stock market. You can’t set contracts with individual people, nor can you set time released payments to be completed.
This seems so simple, can’t anyone build this? Why don’t all projects use time-locked team tokens and all escrow deals use this two-party escrow service?
To build it is fairly simple, but to get trustworthy audits is costly and expensive. It doesn’t make sense for individual projects to build these smart-contracts out. TrustSwap is the first to offer it to the public at-scale.
Will the total supply ever increase?
No, it’s deflationary. The supply starts at 100M tokens, every time a purchase is made with SWAP tokens, they are burned and removed from circulation forever.
Do I need to fully pre-fund the time-release contracts?
No matter which contract it is, both sides need to be 100% funded, including the fee.
What cryptocurrencies are supported on this platform?
You can use any Ethereum based token!
Can this be used like an escrow service?
Yes, that is what a two party swap is defined as. However, we provide more functionality such as time based and chunk based partitioning of a given swap!