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DeFi Deep Dive - What is TrustSwap?

Written By Ivan on Tech

Nov 17, 2020

Less than six months ago, the concept of TrustSwap didn’t exist. So, where did TrustSwap come from, and what use case does TrustSwap fulfill? According to the TrustSwap CEO, Jeff Kirdeikis, a venture capital firm wanted to invest large amounts of money into a project token sale for a discount. However, the firm also wanted to ensure the VC firm wouldn’t sell all the coins at once resulting in a ‘pump and dump’ scheme.

Instead, TrustSwap wanted to have a set amount of tokens released over a period of time to avoid this exploit. This made TrustSwap CEO Jeff Kirdeikis realize there was no such software or smart contract available to achieve this. As such, the only existing option would have been to hire an expensive lawyer to act as a middleman to distribute a set amount of tokens incrementally to the VC firm. Consequently, Kirdeikis realized there was an issue on the market waiting to be solved.

Since then, we have seen the introduction of TrustSwap services...

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