$0.4891

Trust Wallet Token (TWT) is a BEP-20 utility token designed to offer benefits and incentives to users of the Trust Wallet mobile app. Trust Wallet is a mobile cryptocurrency wallet that supports a wide range of native assets and tokens from Ethereum, Binance, and TRON blockchains. Holding TWT provides users with perks such as discounts on in-app crypto purchases and decentralized exchange (DEX) services. Additionally, TWT holders can participate in governance decisions, voting on proposals that shape the app's development. Initially launched as a BEP-2 asset on Binance Chain, TWT was later migrated to Binance Smart Chain as a BEP-20 token in October 2020.

Trust Wallet Token is a utility token that adds value specifically for users of the Trust Wallet mobile app, with no utility outside this ecosystem. As a BEP-20 asset, TWT can be transferred to any wallet supporting Binance Smart Chain assets, enabling exchange or payment for services. It also grants voting rights and governance over Trust Wallet's development, and can be used for discounted DEX trades and in-app purchases. TWT was among the first tokens on Binance Smart Chain, a blockchain optimized for smart contracts and DApps, allowing for low transaction fees and fast confirmations.

During the transition to Binance Smart Chain, 99% of the original TWT supply was burned, setting a new maximum supply of 1 billion TWT. Currently, just over a quarter of this supply is in circulation. The circulating supply grows as users earn TWT by completing tasks like referrals, quizzes, and in-app activities such as staking and trading. According to official sources, 40% of the supply is allocated for user acquisition, 15% for community distribution, 30% held in reserve, and 15% for developers. As of October 2020, Trust Wallet had not published a full tokenomics or emission schedule.

Trust Wallet Token operates on Binance Smart Chain, which uses a proof-of-stake (POS) consensus mechanism to secure the network against threats like 51% and Sybil attacks. Additionally, Binance runs a bug bounty program offering up to $10,000 in BNB for discovering vulnerabilities in Binance Chain and its core smart contracts. As a BEP-20 asset, TWT's security also depends on the wallet software used to manage it. Trust Wallet provides security features such as a passcode lock and a 12-word recovery phrase to protect user assets.

Trust Wallet Token can be purchased and traded on both centralized and decentralized exchanges, with MXC and Binance DEX being among the most liquid platforms. TWT is tradable against various cryptocurrencies, including Tether (USDT), Bitcoin (BTC), and Binance Coin (BNB). For those looking to buy TWT with fiat currency, there are guides available on how to do so.