Trust Wallet (TWT)
Trust Wallet is a noncustodial multi-crypto wallet app founded by Viktor Radchenko in 2017. The platform offers users access to a wide range of blockchains, cryptocurrencies, NFTs, and DApps. Binance announced its acquisition of Trust Wallet on July 31, 2018.
Overview
Trust Wallet, developed by Viktor Radchenko in November 2017, is a non-custodial cryptocurrency wallet designed for buying, sending, receiving, trading, and storing cryptocurrencies. It supports Ethereum-based and EVM-compatible tokens, blockchains, and crypto assets, including Bitcoin (BTC), Ether (ETH), BNB, and Tether (USDT).
Binance acquires Trust Wallet
In July 2018, Binance acquired Trust Wallet, making it the official decentralized wallet of the Binance platform. Changpeng Zhao, CEO of Binance, emphasized the significance of wallets in the crypto economy, noting Trust Wallet's strengths. Viktor Radchenko also expressed enthusiasm about the partnership, highlighting shared values in security and user management.
| Ticker | TWT |
| Category | BNB Chain Ecosystem |
| Website | https://trustwallet.com/ |
| @trustwallet | |
| Telegram | trust_announcements |
| https://www.reddit.com/r/trustapp/ | |
| Contract Addresses | |
|---|---|
| binance-smart-chain | 0x4b...03 Copied! |
| energi | 0xfa...e3Copied! |
| binancecoin | TWT-8C2 |
CEO Viktor Radchenko steps down
In March 2022, Viktor Radchenko stepped down as CEO to focus on family, succeeded by Eowyn Chen, former Binance Marketing VP. Radchenko reflected on his journey and entrusted Chen with advancing Trust Wallet's mission.
Technology
Trust Wallet is a mobile application supporting multiple cryptocurrencies and chains. Unlike browser-based wallets, Trust Wallet provides immediate access to all supported blockchains upon download. It is non-custodial, giving users control over their seed phrases. The app supports storage of Ethereum and BNB Smart Chain NFTs and includes an in-built DApp browser.
Trust Wallet Token
Trust Wallet Token (TWT) is a BEP-20 utility token enabling users to participate in the wallet's decision-making process. TWT was initially launched as a BEP-2 asset on Binance Chain but was relaunched as a BEP-20 token on Binance Smart Chain in October 2020. TWT can be transferred to any wallet supporting Binance Smart Chain assets.
Tokenomics
With the transition to a BEP-20 token on Binance Smart Chain, 99% of the original TWT token supply was burned, setting the new maximum supply at 1 billion TWT. The distribution includes allocations for user acquisition, community, reserve, and developers.
Utility
TWT serves as a governance token for decision-making regarding new blockchain support, tokens, and features. Holding TWT grants access to the Trust Wallet Governance Portal. It is also used for DApp reviews, promotions, and affiliate rewards, contributing to Web 3.0 adoption on mobile devices.
Crypto-to-fiat off-ramp
In April 2023, Trust Wallet partnered with MoonPay and Ramp, allowing users to convert cryptocurrencies to fiat directly within the wallet app. This integration eliminates the necessity for transferring funds to a centralized wallet for conversion, offering users control over their crypto funds. Eric Chang, Trust Wallet's head of product, highlighted the benefits of this feature for customers.