Trust Wallet Token (TWT) is a simple BEP-20 utility token that provides a set of benefits and incentives for Trust Wallet users. Trust Wallet itself is a mobile cryptocurrency wallet that supports dozens of popular native assets in addition to popular tokens on the Ethereum, Binance and TRON blockchains.
TWT token holders can enjoy a variety of benefits when using Trust Wallet, including discounts on in-app cryptocurrency purchases and discounts on decentralized exchanges (DEXs). TWT holders can also participate in the governance of the Trust Wallet and can vote on Trust Wallet update proposals, helping to shape the development of the application.
Trust Wallet Token was originally launched as a BEP-2 asset on Binance Chain, but was re-issued as a BEP-20 token on Binance Smart Chain in October 2020.
Trust Wallet was founded in 2017 by Viktor Radchenko. Headquartered in Mountain View, California, Radchenko has previously held development and engineering roles at various tech companies, and in 2013 co-founded Trucker Path, one of the most popular apps for truck drivers and logistics companies.
Radchenko turned his attention to the mobile cryptocurrency wallet industry when he discovered that "the app store does not have any open source wallets for Ethereum and ERC20 tokens."
The platform was acquired by Binance in July 2018 for an undisclosed sum, but Radchenko still works on the platform as part of the Binance team. The full Trust Wallet team is not public, but is said to consist of more than 20 people, many of whom have overlapping roles at Binance.
The Trust Wallet token is a utility token designed to provide additional value to users of the Trust Wallet mobile application - it has no utility outside the Trust Wallet ecosystem.
Nevertheless, as a BEP-20 asset, Trust Wallet tokens can be transferred to any wallet that supports Binance Smart Chain assets, where they can be exchanged with other assets or used as payment for services. Since TWT can also grant voting and governance rights to the development of Trust Wallet, and can be used for discounted DEX transactions and in-app purchases, TWT continues to develop its own value as a speculative tool.
