Get Ready to Earn with Trust Wallet Thanks to Founder Viktor Radchenko’s Latest Update

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Adrian Sandiford

Learn everything you need to know about Trust Wallet’s new ‘Earn’ feature from the app’s founder.

Adrian Sandiford interviewed Trust Wallet Founder and CEO, Viktor Radchenko, to provide you with more insight into Trust Wallet’s new ‘Earn’ feature.

What are the most important updates to Trust Wallet that people should know about?

Having the ability to create a wallet, and then send and receive crypto, was product number one. Then, we added things like the DeFi DApp browser.

The next thing that I feel is very important for us is to allow people to earn money. I think it’s important, and there are lots of different things you can do. So we’re currently building a product that we’re going to advertise as Earn. It’s the project that we’re currently working on that we want to make essential.

If you go to Trust Wallet’s finance section, that’s pretty much the beginning of it, but we want to extend it to support lots of different things. We’re going to release this Earn product within the next month or so. It’s going to contain not just information about different staking coins, but will also tell you about different farming things you can do, providing liquidity, and so on. This is where we want to be more involved in providing greater functionality for users to make money on those things — we’re going to provide a simplified interface that will explain “This is how much you can earn by staking this or that asset”, which is going to make it simpler for people.

The way I look at it we need to make a button that makes Earn and crypto work for you. So I think that’s the button we want to make, and we want to make it as simple as possible, where it requires the minimum number of steps for the users to start earning interest. So it’s literally, like, you’re pressing a button, and you just confirm the amount that you want to receive or earn, and this is the deadline or whatever, and then you start earning funds. That’s the main idea.

How will people be able to make money with Earn?

We want to make the product as simple as possible. Because, currently, if you want to make money on providing liquidity, you still don’t know which tokens to provide, or where to provide that liquidity. And so I want Trust Wallet to be that aggregator for different ‘earning’ products out there — lending protocols, decentralized exchanges, providing liquidity on things like Uniswap, PancakeSwap, and then maybe utilizing Yearn Finance Protocol (YFP), which uses different strategies to make interest for you.

It could also be staking, which is another way to earn interest. As long as you stake your tokens in blockchains like Cosmos, Tron, or Algorand, you’re getting around nine percent interest each year.

We just want to build this aggregator of different things you can do with your crypto. And, in the future, it will be extended to other things, something related to NFTs, where you can lend your insurance, or whatever. That’s something to explore in the future.

Can you go into a bit more detail about your vision for Earn as a product?

We’re trying to simplify all the steps that you need to take before you actually do it. For example, first, okay, I want to make interest on the products out there. The question then maybe becomes what is offering the highest return. I need to find that thing that gives the biggest return. So, okay, we want to be an aggregator, so our goal is to find all the products that provide the highest APR, and so we’re going to provide it to them. That’s the first thing, right? We optimize that step.

And the second thing, okay, now you need to go in to use PancakeSwap, or whatever you need. The question is how do we simplify this stuff? Do you need to open the DApp browser? Yeah, we could do it as a short-term plan, but can we do it more natively, where you press a button and we do all the smart-contract calls needed in the background so that it will be the same in the end — that’s something we’re trying to achieve. It’s not all possible to implement within a short time, but we will try to do it in steps, where we start building up this foundation.

There’s lending, there’s providing liquidity, DeFi farming. There are different products, and they all have different risks, so it’s also important to communicate to people where a product has a bigger risk, because there is impermanent loss, for example, or in this product, there is a risk because the smart contracts could be vulnerable because they’re not audited yet.

Our goal is to make it safer and more secure for the users to earn interest. I think that part about security is very important because we don’t want to be providing very risky solutions for people without having skin in the game. It needs to be secure for the end user.

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