The Trust Platform ICO
What is the Trust Platform ICO?
Trust Platform is a multi-faceted ecosystem comprised of different autonomous technologies aimed at blockchain development and integration. The platform features a decentralized marketplace for dApps, a Trust Wallet for handling digital assets compatible with the Ethereum blockchain, a dApp browser, an API and an SDK allowing for app development and connecting dApps to non-blockchain businesses.
The team report growth of over 1000% since the beginning of 2018 with 12,000 daily active users and over 144,000 downloads so far. Trust Platform is powered by native TST tokens. TST is ERC-20 compliant and will be required to monetize dApps and receive payment. The platform also funds community-allocated grants for dApp development.
How does Trust Platform work?
The platform has different elements for different use cases. Developers can use the SDK to create applications which can then be distributed and monetized on the decentralized, community-curated dApp marketplace created by Trust Platform. The dApps can also be browsed on the project browser, and the browser also allows the Trust Wallet to interact with any dApp safely. This is achieved via the API which securely communicates between the Wallet and other applications.
The marketplace is community-curated, and TST holders will decide which dApps get listed - developers will have to stake TST to be considered for listing, and the deposited funds are non-refundable and will be forfeit if the application is rejected. In this situation part of the proceeds are allocated for bounty rewards to the TST holders vetting the dApp and the remainder goes to the Token Contract fund. The fund processes all fees within the ecosystem and acts to incentivise all participants (40% of proceeds from the fund go to developers, 30% to community reserve pool, 20% towards grants for dApp development, and 10% for the marketing pool).
Why is Trust Platform unique?
While many of the solutions being tackled by this project are already available, Trust Platform is arguable unique for managing to combine the different features in one single project, seemingly with some success already. By creating a set of tools and technologies that all work to provide solutions to problems faced by other Trust Platform features, the project creates a unique ecosystem enabling developers and dApp users to interact in creating and suppporting new decentralized application technology.
Who makes up the team behind Trust Platform?
Victor Radchenko is the CEO and Founder. He was the CTO and Co-Founder of Trucker Path, an app designed to combat inefficient processes in the trucking industry. He has also worked as a software engineer with Main Street Labs and Seed Platform Inc, working on social API integration and iOS applications.
Max Rasputin is the CTO and Co-Founder, and has a background in Android app development. He has worked with a number of companies including Zoom Group, Farpost, and Conteksoft LLC.
Boris Butakov is Co-Founder and CMO with a background in digital marketing and operations. He is Senior Manager and works in Digital Marketing Operations at AMAG Pharmaceuticals, and worked as Marketing Ops and Analytics Manager for Aerospike Inc. as well as Analytics Manager for Actian Corporation.
JP Thorbjornsen is an advisor to the project and CEO of CanYa, a global marketplace of peer-to-peer services with cryptocurrency as a payment layer.
More details about the Trust Platform ICO
The Trust Platform ICO will begin on 10 June 2018 with and end on 10 August or when tokens are sold. Tokens bought during the sale are locked from transfer until 3 months after the ICO ends. Users will donate Ethereum via Ethereum wallets. The Trust Platform Token is called TST, and users will receive 2,500 TST for 1 ETH. There is no soft cap, and the hard cap is set at 20,000 ETH which currently equals US$10.3 million.
No countries are excluded from the token sale. The total supply is 100 million tokens and 50% of the token supply will be made allocated to the crowdsale.
50% for ICO (referred to as the Token Generation Event or TGE by the team).
24% for reserve
16% for team
6% for advisors/partners
4% for marketing
Projected use of contributions:
60% for core development
20% for marketing and adoption
10% for security
5% for legal and operations
5% for UX research
50 million TST tokens will be issued in the Token Generation Event, unsold tokens will be burned.