TRON-based TronWallet Reaches Soft Cap
In a recent tweet, the TRON-based digital currency wallet, TronWallet, announced that it has reached its soft cap on SEEDGerminator—the crowdfunding platform built by the TRON Super Representative, Sesameseed.
We are proud to announce that TronWallet Softcap was reached and it will enable the development of #ETH #BTC atomic swaps for #TRON #TRX. The Hardcap is in sight and with it Web & Desktop TronWallet + Ledger support us on https://t.co/92NJeZ5sdc #TWX #TWLT pic.twitter.com/MPPFbE8BVf
— TronWallet (@TronWalletMe) January 3, 2019
Now that the soft cap has been reached, the team can start developing ETH and BTC atomic swaps for TRX.
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On its SEEDGerminator page, TronWallet introduced itself as:
“TronWallet is a secure peer-to-peer crypto wallet and exchange for TRON. Send, receive, pay, request payments, vote and participate on a new decentralized world.”
Talking about the full plan, the team said:
“On TronWallet, users are able to securely store and exchange crypto directly on the blockchains.
Today, we’re excited to announce the TronWallet – TWX Token Sale. TWX is a token hub. TRON Token holders can swap tokens using the TWX as proxy token and liquidity pool, it will allow users to instantly purchase tokens directly through a smart contract.
We believe great projects are ideated, created and executed by great people. In order to reap the full potential of TronWallet, today we are joining a team of the brightest and nicest people in the TRON ecosystem: Sesameseed and the SEEDGerminator.”
Moving on to the soft cap, the team said:
“TronWallet.me will utilize the softcap funds generated through SEEDGerminator to introduce both Ethereum and Bitcoin Atomic swaps to the TWX ecosystem. The addition of a simple, effective in wallet exchange to ETH and BTC will greatly improve the versatility of the Tron ecosystem, creating yet another way for the community to interact with TRX.”
Talking about the hard cap, the team said:
“The hardcap target of TronWallet.me will be utilized to build a featured web and desktop versions of the popular application, complete with ledger support.”
Coming to the rewards plan, the team said:
“TronWallet.me has established a 5,000,000 TRX minimum funding target to continue the development of their Wallet, P2P exchange platform, incorporating Atomic swaps with ETH and BTC. Upon meeting the hardcap and Ledger supported Desktop wallet will also be prioritized, incorporating TronWallet features.
During this funding round the SEEDGerminator platform will offer an exclusive 0.6 TRX per TWX token for the duration of the listing. During this time SEED token will be accepted at a 0.125 SEED per TWX rate.”
Adding to it, the team said:
“The distribution of TWX shall take place 24 hours after 00:00 UTC on the day this funding round closes. Only whole amounts of TWX will be distributed and all remaining fractions of TRX will be returned to their originating address.
In addition to community contributions, the SEEDGerminator itself will contribute 200,000 SEED from the SEEDGerminator development fund. These funds will be contributed from the SEEDGerminator development fund, upon meeting the softcap. 1,000,000 additional TWX will be provided to SEEDGerminator to airdrop to the SEED community in proportion to SEED held on 00:00 UTC the day funding closes.”
As of now, 1 TRX = 1.66 TWX and 1 SEED = 8 TWX. As a part of the rewards plan, each of the top 10 SEEDGerminator contributors would be rewarded with a TronWallet Lifetime Subscription (TWLT) token.
In a previous Medium article introducing the token, the team said:
“TronWallet has created a brand new TRC10 token, the TronWallet Lifetime Subscription Token (TWLT). Holding just one TronWallet Lifetime Subscription Token (TWLT) in your TronWallet will entitle you to an exclusive level of subscription, the Lifetime VIP tier. The Lifetime VIP tier will be yours for as long as you hold the token. You can resell your token at any time, but your Lifetime VIP Tier subscription will transfer with it to the new token owner.”
Adding to it, the team said:
“The Lifetime VIP Tier subscription will allow you unlimited free access to every feature of your TronWallet, with the exception of the vote for listing fee. This means you can: vote for super representatives, send or receive accepted cryptocurrencies, utilize 2FA authentication, enjoy premium support, save your contacts on cloud, perform atomic swaps to ETH or BTC, request payments, make payments, participate, claim airdrops, and perform unlimited no fee trades on the TronWallet Dex.”