TrustSwap, a self-described “DeFi platform built to facilitate a variety of common and useful transaction types on the Ethereum blockchain,” has streamlined the process of cryptocurrency swapping and escrow services, according to a press release from the group.
This new platform exists to be a platform for developers and investors to “be able to execute such transactions via a single fast, simple, and inexpensive platform,” the release continues.
Speaking on the matter about the origin, is CEO and founder of TrustSwap Jeff Kirdeikis, who said:
“I figured there had to be something already created that implemented this service in a smart-contract, for a fraction of the cost. There wasn’t. In fact, there was nothing that allowed for time-based payments at all. No trustless escrow for institutions, no trustless team-token lockups, no automated employee payments… nothing.”
He wanted to fix that market.
TrustSwap offers a few extra features, like a system that provides cryptocurrency options, one that manages peer-to-peer currency swaps, and a “SmartSubscription” that allows users to pay for subscriptions with their crypto.
The release describes the following future:
“These features are just the beginning. TrustSwap has plans to continue to build on their initial feature set, and to partner with other DeFi standouts to bring even more innovation to the market. Their goal is nothing less than to become the foundation for a whole new era of DeFi development, and given their strong start, there’s no doubt that they’ll get there in short order.”