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Trust Wallet Airdrops Millions of Tokens to Binance Users

Dec. 22, 2020

Shutterstock cover by Jurie Maree

Trust Wallet has just airdropped millions of Trust Wallet tokens (TWT) to Binance users. Users who completed a spot, futures, or margin trade on the exchange between Dec. 14, 2 pm UTC and Dec. 21, 12 am UTC are eligible.

Binance and TrustWallet’s Christmas Airdrop

The “not your keys, not your Bitcoin” mantra is oft-repeated by veteran crypto traders, and this is the ethos underlying the TWT airdrop.

Trust wallet and Binance aim to educate traders on the benefits of non-custodial wallets as well as dApps, governance, and fully decentralized services. Viktor Radchenko, the founder of TrustWallet, told Crypto Briefing that:

“We expect to let even more people fully experience the freedom of decentralized finance and non custodial access to crypto. This is airdrop is an essential step for us in order to bring more awareness and education to newcomers.”

The infrastructure behind Trust Wallet is decentralized, and the multi-dex feature allows users to exchange and store crypto from their mobile device without giving up control of their funds. The wallet supports all major cryptocurrencies, and users can purchase crypto with fiat in-app using a credit card.

Binance acquired the non-custodial mobile wallet app, Trust Wallet, in 2018. This year, Trust Wallet burned $2.3 billion worth of TWT, reducing the supply from 90 billion to just 1 billion. Binance founder Changpeng Zhao commented that “more than 2 billion USD in value, transferred in seconds, then destroyed, is just mind-blowing.”

Trust Wallet is integrated into the Binance DEX, and users can explore the dApp ecosystem using the app’s built-in Web 3.0 browser. Radchenko said that his team is building new tools for the developer community too. He added:

“We are currently working on providing more developer tools to support the building of native applications on mobile for iOS and Android. These tools will reduce complexity for new developers looking to build decentralized applications.”

Each eligible Binance user received 100 TWT as part of the airdrop.

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