TrustSwap Community Update

4 min readOct 8, 2021

In this article, we briefly recap the last six months, inform you of the current project status, and cover what you should expect for the remainder of the year.

Why should you read this? Because all invested parties ought to be aware that:

· The Beta version is live

· Token holders can increase their BCVT by 20% per annum

· We are giving away $25,000, and you can enter to win just by staking 1,000 BCVT

So, let’s get to it!

From a simple marketplace into a full-fledged zero-fee exchange app

When we initially came to market in March, the BitcoinVend application was a working product. The simplest way to describe the initial product is a Craigslist with Bitcoin as the means of payment, which we intended to turn into a crypto-only mini eBay or Amazon.

We were not entirely happy with the original Coinbase wallet technology and decided to build out a more robust, capable and future proof product. As a result, we spoke to several wallet infrastructure providers and eventually agreed on Fireblocks as the best solution.

The Fireblocks integration meant our application needed significant backend revisions but would enable us to build a far more powerful product.

Check out the Bloomberg press release here.

What are the new benefits?

In addition to a marketplace and payments solution, we are now able to include:

Insured on-chain wallets: All deposits are insured against wallet level hacks at no cost to the user.

Exchange: Via our partnerships with GSR and Wintermute, users will be able to exchange and trade directly with the world’s leading liquidity providers, meaning that hundreds of cryptos can be traded at the most competitive rates on the market.

In summary, BitcoinVend will allow users to store, send, trade, spend & earn crypto, all in one app with zero fees (that´s where BCVT comes in).

BitcoinVend is now a far more capable product. It will be one of the most secure and cost-effective exchanges on the market- an exchange that enables much more than just trading crypto for crypto, thanks to the marketplace.

If you haven’t been keeping up with developments, please check out our website, where you can read all about the new, improved product and our expanded vision for the project.

Live Beta application

The Beta application is now live and available to download for anyone on our newsletter. We are in the process of activating all the features and would love to hear your feedback.

To download and check out the app, go here.

If you are an Android user and have any trouble downloading the app, please reach out to Maisa on Telegram by clicking here.

20% APY

To say thank you for the support we have received this year, and to reduce the negative impact of high ETH gas prices, we increased the staking yield from 12% to 20% and removed the minimum lock time.

You can now stake your tokens, build up rewards and withdraw whenever you want with no penalty.

$25,000 Sweepstake

When we reach 10 million tokens staked (we are ~60% of the way there at the time of writing), someone will win 25,000 USDC!

For more information about staking and the Sweepstakes, go here.

The Future:

Full feature activation and product refinement

Moving forward, we are focused on activating all the product features and gathering feedback from initial users. This is a unique opportunity to have your voice heard and take part in refining what will become the first public release.

Marketing

Leading up to the full public release, we will be expanding our reach through various marketing activities. We have contracted a well-established marketing agency that will become active imminently (their clients have included the likes of Shape Shift, eToro, Redbull and others).

To catch up with all the changes, check out our website and feel free to ask us specific questions in the community Telegram Chat.

Thank you for your continued support. We look forward to a bright future together.

Disclaimer: The information provided here does NOT constitute investment advice, financial advice, trading advice or any other type of advice whatsoever and should not be taken as such. By choosing to act on any information provided, you do so at your own free will and at your own risk. BitcoinVend, its directors, employees, associates, affiliates, or partners cannot and will not be held responsible for any losses, damages or costs incurred by your decision to act upon this information. BCVT Tokens (“BCVT” or “BitcoinVend Tokens”) are not shares or securities and have no approved function outside the BitcoinVend ecosystem. The utility of BCVT is subject to change. BCVT is managed and issued by a token issuance foundation. External links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by BitcoinVend of any of the products, services or opinions of the corporation or organization or individual.