SWAP is the governance token in the DeFi ecosystem of TrustSwap on Ethereum. It initially functions as a peer-to-peer trustless escrow and payment platform and will later transform into a fully decentralized exchange (DEX) offering leverage and futures options through non-custodial smart contracts, as per the development team's plans.

TrustSwap offers various core products including staking, smart locks, and smart swaps. These smart swaps can wrap any coin or token into an ERC20 token. For instance, the protocol provides cryptocurrency wrapping services, allowing anyone to wrap and utilize any cryptocurrency on the Ethereum blockchain. Additionally, TrustSwap offers escrow services, establishing itself as a trusted intermediary in crypto-based financial transactions.

TrustSwap is a distributed platform, cryptocurrency, and protocol that promises a new evolution to decentralized finance (DeFi). It aims to achieve this through next-generation multi-chain token swaps and other functionalities that aim to solve existing problems with split payments, subscriptions, and cross-chain token swaps.

TrustSwap describes its mission as powering "customizable transactions," not only for the DeFi space but also for the entire crypto industry. Incorporated in July 2020 in Canada, the platform seeks to take smart contracts mainstream.

Among TrustSwaps primary products are staking, smart locks, and smart swaps, which can wrap any coin or token into an ERC20 token. For example, the protocol offers cryptocurrency wrapping services that enable anyone to wrap and use any cryptocurrency on the Ethereum blockchain. It also features escrow services, enabling it to become a trusted middleman in crypto-based financial transactions.

Jeff Kirdeikis and Adam Barlam lead the project as CEO and CTO, respectively. The CEO is also the founder of Uptrennd, a media platform tapping into blockchain technology's power. Kirdeikis also runs a successful cryptocurrency-focused group on Facebook with over 150,000 members.

Barlam, on the other hand, has significant experience in and outside blockchain circles, as the developer behind a review platform, Bravocoin, where reviews are paid in cryptocurrency. In addition, he has previously held key positions at Intel and GoDaddy.

Apart from the two executives, the team also includes advisors such as renowned crypto YouTubers Michael GU and Ivan Litjeqvist. Others include Mauvis Ledford, a former BYDFi CTO, and a former consultant (tech and research) at the Bill and Melinda Gates Foundation.

TrustSwap has a token launchpad offering that is customized by users and can be set to release investor tokens at specific times or implement a lock-up period for tokens allocated to a project's team.

The feature can also be customized to give early access to those staking TrustSwap's base asset, SWAP.

Additionally, the platform uses its SmartLock feature to allow parents to automatically make digital currency payments to their kids' bank accounts on a set interval. Furthermore, you can save money and automatically transfer it at a date of your choice to a specified account.

The platform adds a new twist to crypto peer-to-peer transactions through SmartSwap. Here, it presents a use case for initiating over-the-counter (OTC) trades without the need for a third party such as a crypto exchange. A SmartSwap attracts a fee of up to 0.3%.

What's in it for TrustSwap? The platform charges for the services offered, thus drawing revenue. The higher the activities on the platform, the higher the revenues, and vice versa. It likely also generates funds through trading its native SWAP currency.

The SWAP token has a total supply of 100,000,000 coins and uses a deflationary model by burning 10% of the transaction fees.

SWAP is a vital component in the TrustSWAP ecosystem since it gives holders access to a host of benefits. For example, it gives holders a seat at the governance table. Moreover, it is used to pay staking rewards.

SWAP holders can also enjoy a 50% discount on transaction fees when paying using the native token while helping the network maintain stability through staking.

Note that 80% of the fees charged on the platform go to liquidity providers and stakers, with the project keeping 10%.

TrustSwap secures its network by tapping into the second-largest blockchain, Ethereum. Ethereum is currently in transition from PoW to PoS and is expected to make it even more decentralized and secure in the long run.

The platform is non-custodial, which means that it doesn't have access to user funds in smart contracts. Furthermore, the protocol's security is enhanced by the use of audited smart contract code.

SWAP is available for purchase on Hotbit, Uniswap, BitMax, MXC, Gate.io, and 1inch exchange. Its major trading pair on these exchanges is USDT, except on Uniswap and 1inch, where it's paired with Wrapped Ethereum (WETH) and Ethereum (ETH), respectively. Visit here to learn more.