TronWallet Introduces New TWX Swap Burn Mechanism, Amid Rising Swap Volume

TronWallet Introduces New TWX Swap Burn Mechanism, Amid Rising Swap Volume

Getty/IO & the TronWallet team is excited to announce a new token burn mechanism: TWX fees collected from each Swap of Bitcoin (BTC), TRON & TRX tokens on the TronWallet app.

TronWallet recently introduced a new built-in Swap feature, which allows users to seamlessly and directly exchange Bitcoin, TRX and TRX-based tokens with the push of a button inside the TronWallet mobile app. The Swap saves users precious time who don’t need to trade on exchanges, is very simple to execute while being highly secure and fast to process.

The usage of the Swap tool has grown significantly over the month of January with thousands of users using the Swap on a daily basis. Given the successful Swap launch, the numbers and volumes of TronWallet Swaps are projected to increase exponentially over the coming months as we add more coins, tokens, blockchains and features to the Swap tool.

Additionally, TronWallet’s user base is rising sharply along with the new Swap, with more than 177,300 TronWallet downloads worldwide, as well as an average of 12,000 daily active users (DAU) and 50,000 monthly active users (MAU).

TronWallet is currently implementing support for Ethereum and all ERC-based tokens as its third blockchain after the TRON and Bitcoin public blockchains supported today by TronWallet. With the upcoming implementation of Ethereum, ETH and other prominent Ethereum-based tokens will also be added to the Swap tool, further increasing the exchange availability and options for our users.

If you missed our Swap Tutorial, watch the How-to video below or check out our “What is Swap feature and How-to use Swap feature” Medium article by clicking here.

In light of this, after 5 months of buy back and a total of 183 million TWX burnt in five different instances until this point, TronWallet is as planned ending the buy back burn in favor of the TWX Swap fee burn mechanism.

Every TronWallet user can reduce the already minimal Swap fees further by using or holding the TWX token.

The previous token burns have stabilized the TWX price and the Swap fee burn mechanism is being implemented to bring a more consistent, frequent and viable token burn. Following the past token burns, the current circulating supply is 2 billion TWX and the maximum supply of the TWX token is 10 billion. The 183 million TWX burnt to constitute 9,15% of the current circulating supply.

Published at Fri, 07 Feb 2020 22:26:15 +0000

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