TrustSwap, the popular decentralized finance (DeFi) platform, has announced new updates, a non-fungible token (NFT) and ERC-20 marketplace, and other features that would provide customers with a better experience and services in the new year.
TrustSwap made this announcement via its official Twitter account, noting that users in January 2021 would witness the unveiling of its Swappable marketplace, a new security platform, and a redesign of its website and staking portal.
TrustSwap Swappable is a DeFi NFT and ERC-20 marketplace. According to the announcement, the NFT market is witnessing massive growth, causing the DeFi protocol to jump in with both feet.
The DeFi platform further noted that Swappable will not only charge users lower fees for services provided but will also return fees back to the community which other NFT marketplaces, such as OpenSea and Rarible, currently do not.
Additionally, Swappable will enable all Web3 wallet users to create, buy, sell, or trade any ERC721 or ERC1155 NFT, as well as make trustless peer-to-peer (P2P) swaps of any ERC-20 token. TrustSwap’s existing P2P SmartSwap Smart Contract protocol will be also integrated with the ERC-20 marketplace, enabling participants to purchase, sell, and trade ERC-20 tokens anonymously.
Notably, TrustSwap said that the new NFT and ERC-20 marketplace initiative is mainly to add flexibility and fun to the digital assets space. Not to mention ensuring that trading NFTs is secure, fun, and easy for participants.
Other TrustSwap Developments
The TrustSwap Launchpad recently noted that it has seen five successful projects successfully launched in a row. The five projects are Chain Games, MobiePay, Aubit, COIN, and Yield.app.
Liquidity locks and token locks help in preventing exit scams, but alone, they can’t guarantee 100% security for investors.
Since the code to create a token can have hidden loopholes, there is always a chance for an exploit
The DeFi protocol, in addition to a new security platform that will help in preventing exit scams, also disclosed a partnership with Hong Kong-based blockchain startup, Glitch.
According to the announcement, Glitch will tap TrustSwap to help their public token offering on January 11. Glitch is creating a new blockchain that is focused on decentralized financial products. The blockchain is built with profit-sharing and scaling at its core, while offering near-zero transaction fees, high transaction throughput, and a profit-sharing model that should appeal to end-users, developers, and investors.
At the time of publication, SWAP was trading at $0.658261, with a market cap of $43,687,409 and a 24-hour trading volume of $1,575,243.
To find out more information about TrustSwap and other DeFi projects, visit the Altcoin BuzzYouTube channel.