I bought some Trust Wallet Token (TWT) a few weeks ago because
I didn't go in too deep with TWT, and on review I'm glad I didn't, although I'm not about to pull out of the pool and sell either.
The description on CoinMarketCap says Trust Wallet Token is a simple BEP-20 (also BEP2) utility token that offers a range of benefits to Trust Wallet Users - such as discounts for using their DEX and giving you voting rights.
OK, fair, enough, BUT the problem is that when you go to the Trust Wallet Token homepage, there is literally NO MENTION of any this, and the community pages seem pretty dead too - Telegram is just old announcements, you can't input anything, and there isn't much in the way of recent news released on their blog either.
However, I think this might be a case of ongoing development of the wallet taking precedence over communication and marketing - there are a lot of 'commits' going on in the background and the wallet app just works, it has beautiful functionality.
And the TWT homepage does look very professional - it just directs you to download the app and get interacting with crypto!
The mobile wallet works on both apple and android and supports several tokens - in regular form, BEP2 and BEP20 format - as appropriate - I mainly downloaded it so I could pool into the BEPSWAP network with my Rune, and just loved the way it interacted with that - no problems at all.
You can also swap assets via the Trust Wallet - although I wouldn't trust their exchange rates necessarily, and you can swap from between BEP2 and BEP20 too.
Some assets you can stake via the wallet too - BNB (minimum stake) gives you around a 16% return, not the best, but it's still an option that you don't get with too many mobile wallets.
Fees are very low too.
There's currently around 250M TWT tokens in circulation - 25% of the supply - so a projected 1 Billion max supply. Going forwards....-
It's worth keeping in mind that TWT was acquired by Binance a couple of years ago, so this is a Binance token, and this is basically Binance's mobile application.
This means it is in Binance' Interest to keep the token price up - so there may be limited uses for the token at the moment, but I can just see TWT having more staking functionality in the future on the wallet app - possibly along the lines of SXP or AVA - stake higher amounts and you get higher benefits for in-app functions.
Knowing that this is Binance behind the project, and knowing just how smooth the app is and how functional, at least for Binance chain interactions, I think there is room for price growth in 2021.
The price is kind of floating along at around $0.50 ATM, and it's been draining my BNB that I've pooled it with, but not at an alarming rate, and I think there's some medium term potential for growth, so I don't mind accumulating a bit more in-pool, but I won't be looking to accumulate more given that the functionality of TWT is limited to Binance, and I'm feeling a bit overexposed to Binance products already.
It's also going to be an easy sell if the price increases even just two times... I don't feel attached to this one!
