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Blockchain Ecosystem Project TrustKeys Raises $4 Million From Strategic Investments

CryptocurrencyOct 14, 2021 04:00AM ET
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Blockchain Ecosystem Project TrustKeys Raises $4 Million From Strategic Investments

Decentralized Ecosystem Project TrustKeys is currently providing new use-cases with new features to DeFi users. With the number of DeFi users skyrocketing, the downloads of non-custodial wallets is on the rise at the moment. TrustKeys is an upcoming project with a decentralized non-custodial wallet managed by its parent company TKBlockchain which is based in the British Virgin Islands. The project has so far managed to raise $4 million from investors as it ramps up towards its full release. So far almost two rounds of fundraising have been completed with capital coming in from long-term strategic investors.

The presale is scheduled to end around the 27th of October and the public sale is expected to begin shortly after. As it stands the public sale should account for 8% of the total token distribution with the presale before it accounting for a lesser 5% total. The majority of the tokens-about 28%- will go to burning and marketing and the next largest portion at 20% will go to the team.

The token on offer is the project’s token TRUSTK. The total circulating supply from launch will be maintained at 1,000,000,000 tokens at any given time with 55% of the token being locked for the first five years. The TRUSTK token is a BEP-20 token for the Binance Smart Chain but when the Trustkeys Chain launches, it will be compatible with multiple chains.

A SuperApp And Ecosystem

TrustKeys is a blockchain-based solution to fragmented services on blockchain. By leveraging its ‘SuperApp’, the project aims to create a platform that amalgamates all the services you would ordinarily have to search for on multiple platforms. This begins with its wallet. Unlike traditional exchanges, the wallet based on TrustKeys is a non-custodial wallet. This means that it is secured by and belongs entirely to you. The wallet is secured with a 24-words key phrase, unlike traditional 12-word keys. According to its promotional video, if half of your seed was to be leaked, it would still take trillions of years to hack the rest(barring unnatural luck). The TrustKeys crypto wallet is available on the Play Store and Appstore for users to download and experience its use-cases.

Although the wallet only has crypto support, for now, there are plans in motion to implement NFT support native to the wallet. With NFTs currently being the hot topic in crypto, an NFT wallet that also supports multiple tokens and chains could be a huge selling point for the project.

Crypto-centric Social Media Platform And Hybrid Exchange

The platform will also have a social media and messaging platform. This most likely will never take the place of more popular social media in your life but it will serve to slowly become an aggregator of crypto news and like minds. The messaging platform will support disappearing messages and will be encrypted. Here the seed also comes into play. The messages will be encrypted on one end and can only be decrypted using the receiver’s key.

Finally, there will be a hybrid exchange native to the platform. A hybrid exchange is a middle ground between a centralized exchange and a decentralized exchange. Thus it will have many of the features native to both platforms. To begin with, the exchange will have spot trading on its platform and users will be able to trade a plethora of cryptocurrencies. However, it will not require KYC and extensive personal information like other exchanges.

Currently, the team is in the Q4 2021 section of its roadmap and if it is dependable, the IDO should be going live soon. The NFT marketplace is also scheduled for the first quarter of next year.

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Blockchain Ecosystem Project TrustKeys Raises $4 Million From Strategic Investments

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