Dive into a new era of decentralized finance with THORWallet, a non-custodial wallet designed for both crypto veterans and newcomers. As an all-in-one DeFi solution, THORWallet offers users the ability to manage their cryptocurrencies securely, perform cross-chain transactions, and even get a free VISA card alongside a Swiss bank account. Utilizing the THORWallet Governance Token (TGT), users can benefit from multiple utilities such as staking, governance participation, and premium features. Learn how THORWallet aims to make DeFi more accessible and rewarding in our comprehensive article below.
What is THORWallet?
THORWallet is a comprehensive DeFi product that caters to both power-users and those new to the world of decentralized finance. It is a non-custodial wallet that offers a range of features including a free VISA card and a complementary Swiss bank account for secure crypto management and cross-chain transactions. The wallet aims to provide a seamless and secure experience for managing cryptocurrencies.
Key Features of THORWallet
Non-Custodial Wallet
THORWallet is a non-custodial wallet, meaning that users have full control over their private keys and funds. This ensures that users' assets are secure and not held by any third party.
Free VISA Card
One of the standout features of THORWallet is the free VISA card that users can obtain. This card allows users to spend their cryptocurrencies in the real world, making it easier to use digital assets for everyday transactions.
Swiss Bank Account
THORWallet also offers a complementary Swiss bank account, providing users with an additional layer of security and convenience for managing their crypto assets.
Cross-Chain Transactions
THORWallet supports cross-chain transactions, allowing users to swap native crypto assets across different blockchains. This feature is powered by THORChain, a decentralized liquidity network that enables seamless cross-chain swaps.
THORWallet Governance Token (TGT)
The THORWallet Governance Token (TGT) is a multi-utility token that serves several purposes within the THORWallet ecosystem. Here are some of the key utilities of TGT:
Staking
Staking TGT allows users to access community tiers and unlock special features such as lower trading fees, free trading, limit orders, and multi-wallet options. Staking also provides users with premium benefits and incentivizes long-term holding.
Governance
TGT holders have the right to participate in the governance process of THORWallet. This includes voting on referendums and proposals that shape the future of the platform. Governance participation ensures that the community has a say in the development and direction of THORWallet.
Burn Mechanism
THORWallet has implemented a burn mechanism where 50% of the revenue generated by the platform is used to burn TGT tokens. This reduces the circulating supply of TGT and potentially increases its value over time.
Node Operation
THORWallet plans to run a full THORChain node in Switzerland to further strengthen and decentralize the ecosystem. Part of the net profits from node operation will be used to burn TGT tokens, contributing to the token's value appreciation.
Community Programs & Gamification
THORWallet aims to promote community growth and engagement through gamified missions and token incentives. Users can participate in various community programs and earn rewards in TGT, making it a fun and interactive way to stay on top of their finances.
Tokenomics and Distribution Model
The tokenomics of TGT are designed to incentivize community participation and ensure the long-term success of the THORWallet ecosystem. Here is an overview of the token distribution model:
Total Supply
The total supply of TGT is 798,169,770.31 tokens. The circulating supply is currently 0.00, indicating that the tokens are being distributed gradually.
Revenue-Based Token Burn
50% of the revenue generated by THORWallet is used to burn TGT tokens. This mechanism helps control inflation by reducing the circulating supply of TGT and potentially increasing its value over time.
Community Incentives
A significant portion of TGT tokens is allocated for community incentives. These incentives are used to reward users for participating in staking, governance, and other community-focused initiatives.
Public Allocation
A portion of TGT tokens is allocated for public distribution, which may include public sales, initial exchange offerings, or other public distribution methods.
Airdrop
5% of the total supply of TGT tokens is allocated for airdrops. Airdrops are used as a marketing strategy to distribute tokens to a wide audience and promote awareness of the THORWallet platform.
Core Contributor Allocation
Core contributors to the THORWallet project, such as the development team and key personnel, receive a portion of the TGT token supply as compensation for their work. This allocation is typically vested for a certain period to align the interests of the core contributors with the long-term success of the project.
Private Investor Allocation
Private investors, such as venture capital firms or strategic partners, may also receive a portion of the TGT token supply as part of their investment in the project. This allocation is typically vested for a certain period to align the interests of the investors with the long-term success of the project.
Market Data
Here is an overview of the current market data for TGT:
- Current Price: $0.0219
- Market Cap: $0.00
- 24h Price Change: 2.61%
- 7d Price Change: 12.90%
- 30d Price Change: 47.30%
- 24h High: $0.0220
- 24h Low: $0.0204
- All-Time High: $0.1383 (2021-12-25)
- All-Time Low: $0.0054 (2022-06-18)
- Circulating Supply: 0.00
- Total Supply: 798,169,770.31
The Team Behind THORWallet
The success of THORWallet can be attributed to its experienced and dedicated team. Here are some of the key members:
Marcel Harmann (Founder and CEO)
Marcel Harmann has a background in Banking and Finance from the University of Zurich and is currently a course director at the University of Applied Sciences Lucerne for Blockchain and Crypto Finance. He is also a founder and board member of the DEC Institute and a board member of the Crypto Valley Association in Switzerland. Marcel has been involved in several award-winning tech startups in various roles, including founder, early management member, and angel investor.
Pedro Isaac Lopez (Chief Growth Officer)
Pedro Isaac Lopez is an industrial engineer with an MBA focused on Finance. He is a self-taught python programmer and entrepreneur with experience in startup building and the crypto industry since late 2017. Pedro's role at THORWallet DEX is to increase adoption, generate additional downloads, and grow the overall user base, ultimately leading to higher revenue.
Joshua Sorensen (Co-Founder and CTO)
Joshua Sorensen is a seasoned software engineer with a focus on blockchain technology. He has experience working with various blockchain platforms, including Ethereum, Binance Smart Chain, and Cosmos SDK. Joshua is responsible for
