Trust Wallet launchpool is a pioneering feature built within the Trust Wallet app initially inspired by the centralized exchanges’s IEO. It allows users to non-custodially lock digital assets such as $slisBNB or $TWT tokens to access the token airdrops from the various web3 projects while offering crypto startups a unique opportunity to expand their marketing efforts.
Similarly to the Trust Wallet, the launchpool is powered by the governance $TWT coin enabling users to stake it and participate in the Launchpool.
Trust Wallet Launchpool is an IEO-typed launchpad built in the Trust Wallet app - one of the biggest web3 wallets in the industry, boasting over 140M users. A similar system already exists on multiple centralized exchanges and now Trust Wallet has become the first platform to launch this feature on-chain.
Since by design, Trust Wallet Launchpool is very similar to Binance’s and taking into consideration the past connection of the platform with Trust Wallet, we assume the idea of the launchpool was at least party-initiated by the Binance and BNB Chain. Adding even more to this theory, the four.meme launchpad, which is also backed by the Binance Chain foundation, has gotten involved in the launch of the first project on the Trust wallet, indicating of the potential influence form the BNB Chain.
It aims to help web3 projects gain exposure and expand their marketing efforts by offering their infrastructure to airdrop their tokens. Meanwhile, users access an exclusive opportunity to stake their digital assets, $TWT token and $slisBNB crypto more specifically, to get a share of airdrops from the multiple crypto startups to earn an additional yield when holding the specific assets without the need to keep their funds in the custodial centralized exchanges accounts.
To participate in the Trust Wallet Launchpool, you need to download the Trust crypto wallet on your mobile phone and acquire either $TWT or $slisBNB tokens. Then, you should visit the “earn” section and choose between $TWT or $slisBNB staking pools to get access to the share of the reward pool.
As of October 2024, the platform boasts only its first launchpool of the $WHY token - one of the largest memecoins on the BNB network with over $100M market cap. For the event, the Trust crypto wallet app allocated 4.2T of $WHY tokens worth more than $1M.
Taking into account the hype created among the crypto community after the Trust Wallet Launchpool announcement, our team carefully analyzed the launchpad and identified some notable pros and cons of the protocol:
✅ Trust Wallet pros:
❌ Trust Wallet cons:
Project | Score | Round Score | End Date | Price | Amount to Raise | Status | Industry |
---|---|---|---|---|---|---|---|
Why an Elephant ($WHY) | Medium | 22 Oct | $6.217E-6 | $924,000 | Past |