Trust Wallet conveyed through a blog on 03 April that it has enabled Tezos Wallet (XTZ) support and will soon add token delegation feature.
Trust Wallet highlighted that in the next cycle scheduled for the second quarter of the year, the delegation feature would be enforced. This feature would enable users to stake their tokens and be a part of Tezos on-chain governance.
Viktor Radchenko, Founder of Trust Wallet cited –
“Tezos is a leading on-chain governance and PoS protocol and we are excited to work together to bring staking and delegating mechanisms to Trust Wallet mobile users, which allows everyone to be a participant in securing the network and validating transactions. Additionally, the Tezos Commons Foundation team conducted great work on adding support for Tezos to the Trust Wallet Core, an open-source cross-platform and cross-blockchain wallet library, which made its integration possible for the Trust Wallet mobile app.”
Trust Wallet added a note on delegation feature. It drew an analogy to how customers can avail interest by keeping their money in a bank account. Through staking, users are empowered to vote and earn a passive income for validating transactions. Trust Wallet further added that with an upcoming interface, users could stake all their tokens from a single place.
Trust Wallet emphasized on their mission to make cryptocurrency and their wallet easily available to individuals. While already supporting a host of digital currencies, adding Tezos wallet was in a step to extend the mission. The blog explained on the easy process to add Tezos to Trust Wallet. Users just have to locate Tezos in their wallet and click on it to enable.
Last month, there was news about network participation and governance support for Tezos aimed at Coinbase Custody clients. Coinbase Custody chose Tezos as the first staking asset because of its delegated proof-of-stake (DPOS) architecture. XTZ also has high demands from the clients. Choosing XTZ was in interest to protect delegated funds through cold storage.
Trust Wallet concluded by throwing lights on its key industry engagements and that of Tezos. Trust Wallet is Binance’s official crypto wallet. Trust Wallet is a repository to save crypto assets which are safeguarded by a recovery key. With the upcoming launch of Binance decentralized exchange, the wallet would allow users to trade directly on the platform. Tezos is a unique blockchain that can improve by upgrading itself. Tezos also supports smart contracts and allows to build decentralized applications.