Trust Wallet announces token launch and staking platform
Trust Wallet has revealed the introduction of its new Launchpool feature, focused on launching tokens as well as staking services. With this, it becomes the first self-custody wallet to incorporate a decentralized launchpool.
According to the wallet team, Launchpool targets Trust Wallet (TWT) token holders as well as wallet users. Both will be able to use the service to access exclusive tokens and stake, earning income.
Launchpool is one of the most successful tools on the market, with the most famous of them belonging to the Binance exchange. On the Chinese exchange, this platform is the main means of accessing new tokens and usually boosts the price of tokens introduced there.
Trust Wallet revela Launchpool
The launch of True Wallet's Launchpool took place this Wednesday (02) for the wallet's more than 140 million users. However, the official launch will take place on the 9th, when everyone will be able to stake their TWT tokens and earn income and rewards.
Additionally, pre-launch token projects and wallet partner tokens will be on Launchpool. With staking, users will also be able to earn these tokens. By engaging with promising ventures, users can diversify their portfolios, minimizing risks typically associated with centralized platforms.
Eowyn Chen, CEO of Trust Wallet, emphasized that the Launchpool feature aligns with its mission to foster a more inclusive Web3 ecosystem. “Our goal with Trust Wallet Launchpool is to empower industry projects to better build and engage communities on blockchain.”
To access Launchpool, simply have access to Trust Wallet and click on the “Earn” tab within the application. The wallet then shows the staking hubs and projects that are holding tokens, allowing users to choose their favorites. Then, just leave your tokens in the specific pools and start earning.
This system has on-chain smart contracts and open source protocols, ensuring transparency and security. Users have the opportunity to receive additional tokens through rewards tied to their staking efforts.
A boost for Web3 communities
Trust Wallet Launchpool fosters a mutually beneficial environment for users and Web3 projects. On the one hand, users benefit from a secure and decentralized way of earning project tokens. And on the other hand, projects gain visibility and community support through Trust Wallet's broad user base.
“This feature is not about a revolutionary innovation; it’s about creating a sustainable cycle of collaboration between users and projects, promoting a stronger Web3 community,” Chen emphasized.
Finally, Trust Wallet Launchpool will be officially launched on October 9, 2024 and the company has advised users to update their apps to access the new service.