A Complete TXT (TRUST) guide

Last update: 11.11.2021

In this article, I will analyze the in-house token of the TrustDice casino which is called TRUST (TXT). 

At the very beginning, it is necessary to stipulate that the Trust Dice token has the same abbreviation as the Taxa Token. Both TXT. Be careful not to be confused when buying on exchanges.

TrustDice Casino

How does TXT work on TrustDice?

The TrustDice token was launched shortly after the launch of the casino itself in November 2018. TXT was created on the EOS platform. The token is used to reward players for using the gaming platform. According to the whitepaper, the token was created by a team of developers from all over the world. In 2019, the developers added support for the ERC20 network. Since then, the Trust Dice token has been operating on two blockchains EOS and Ethereum

The total TXT supply is 5 billion (5.000.000.000). 50% of this amount is allocated for mining, 10% for token, sale, 10% for bounty, 10% for strategic partners and 20% will be distributed to the development team and TrustDice employees.

TXT Distribution

How to get TXT?

At the moment, there are several ways to get TXT, and all of them are not so simple. 

TXT Mining (Claim)

TXT mining process differs from Bitcoin mining. You don’t need to have powerful computers and build mining farms to get TRUST coins. All you have to do is place bets. Every day TrustDice.win releases a certain amount of TXT as a mining pool. 

TXT Mining (Claim)

By placing real money bets in different games players will get Mining Power. It doesn’t matter if the bet was won or lost, you’ll get Mining Power in any case. The mining round ends every day at 09:00 UTC and based on your power you will get the part of the pool. Your mining power is calculated using this formula

bet (in USD) * game house edge * (1 + Mining Bonus) * 20

House edge values:

  • Dice 1.5%;
  • Crash 1.5%;
  • Sports 3%;
  • Slots (depends on the game, but the average is 3%).

The mining Bonus value is 0 by default, but you can increase it by locking TXT.

TXT StakedClaiming Bonus
≥ 30005%
≥ 1000010%
≥ 3000014%
≥ 5000018%
≥ 10000022%
≥ 50000025%
≥ 500000028%
≥ 5000000030%

But still, the TrustDice token has something in common with Bitcoin mining. Namely halving. Every 250 days the mining pool halves, so the rewards for the Mining Power will decrease. Now mining is in period 5.

PeriodStart and End DatesAmount of TXT to Be Released
As % of the Total Supply
11st – 250th day1.25 B25%
2251st – 500th day0.625 B12.5%
3501st – 750th day0.3125 B6.25%
4751st – 1000th day0.1563 B3.125%
510001st-1250th0.07815 B1.5625 %
 Total2.5 B50%

Coinbox

Every 6 hours you can get 2 TXT absolutely for free. This is a local faucet where other tokens are also available.

TXT in Coinbox

Rewards 

TrustDice gives you a list of tasks for which you will receive TRUST tokens. Tasks like making the first deposit, subscribing to the casino social network, etc. Also, you will get 1 TXT just for login every day.

TXT Rewards

VIP Program

For each level increase in VIP Program, you will be credited with TXT coins. For reaching the first level you will receive 200 TXT, and for the last one already 1,000,000. Learn how to increase levels in the VIP Program in the Trust Dice review.

Dice and Crash

If you managed to get some TXT, then you can try to play in-house TrustDice.win games Crash and Dice. If you’re lucky, you can increase your balance. But obviously, this is not the most reliable way to obtain TXT.

Buy TXT on Uniswap

Yes, there is a way to buy TXT, and unfortunately the only one to date. I’ll describe in my personal experience how to buy this token.

  • Step 1. Install the Metamask decentralized wallet.
  • Step 2. Create an account on Ethereum’s main network.
  • Step 3. Buy ETH. If you don’t have ETH you have to buy them to proceed. It’ll be used for a commission payment. I didn’t have ETH, so I bought some on Binance. By the way, if you register via my link you will get a 10% discount on Binance fees.

ETH Purchase

  • Step 4. Send ETH to Metamask wallet. Make sure that you choose the ERC20 network. And be ready to pay high fees. I’ve paid around $25.

ETH Withdrawal

  • Step 5. Open Uniswap and connect it with your Metamask wallet.

Uniswap and Metamask Connection

  • Step 6. Import TXT to Uniswap. Press “Manage Token List” and insert TXT Address 0xb12907dcd65e09871bbd6f1659436f3be310af65

TXT importing to Uniswap

  • Step 7. Choose ETH and TXT pair for swapping and enter the desired amount of TXT you want to buy.

ETH-TXT Swap

  • Step 7. See the swap fees and change your mind about buying TXT. I am seriously that’s exactly what happened to me. The commission is 5 times more than the swap amount. So I decided to postpone the purchase.

ETH-TXT Swap Fees

  • Step 8. Wait until fees are lower and return to step 4.   

As you can see, all the methods of obtaining TXT are not ideal today. You need to either accumulate tokens for a very long time or spend an amount that is several times higher than the real value of tokens. I really hope that this will be fixed soon since I would still like to buy a little TRUST.

What can you do with TXT on TrustDice?

So, you got TXT tokens in one of the ways described above. What to do next? There are also several answers to this question. Let’s take a closer look at each.

Stake TXT

TXT staking was launched in 2018. It was designed to encourage users to keep TRUST tokens for as long as possible.

TXT Staking

How does TrustDice staking work?

The casino allocates 50% of the profit from the Dice game for staking rewards. This amount is distributed among all users who have locked their TXT. Every day at 9:00 UTC, users receive 1% BTC, 1% of USDT, 1% of EOS, and 1% of ETH from the total pool for rewards. The size of the reward depends on the number of TXT that you have locked.

On the staking page, you can see the total pool, the time until the distribution of awards, the number of awards, and the total number of staked TXT.

TXT Staking Pool

If you want to unlock your TXT, you will need to wait 72 hours until you have access to them. During these 3 days, you will not receive dividends. 

Trustdice TXT locking is it worth it?

You must answer this question yourself. It depends on the amount you are going to stake. You can use the calculator to estimate the income level. 

TXT Staking Calculator

Play Dice and Crash

TXT can be used to play the in-house game of Trust Dice Crash and Dice. These are games that are known to the entire crypto gambling community and we will not dwell on their description. The games are quite interesting and addictive and both support the Provably Fair algorithm, so you can be sure that every round is fair.

Sell TXT on Uniswap

If you want to sell your TXT you can do it via Uniswap. Follow this simple guide.

  • Step 1. Withdraw TXT from your TrustDice account to Metamask. Chose ERC20 chain, enter your Metamask address and amount of TXT you want to withdraw. 

TXT Withdrawal

  • Step 2. Open Uniswap and connect your Metamask wallet to it.
  • Step 3. Import TXT to Uniswap.
  • Step 4. Choose TXT and the token you want to get for it. Please note that you need to have ETH on Metamask’s balance in order to pay the Swap fee.

TXT-ETH Swap

At the time of writing this article, for the withdrawal of TXT from the account and for the swap you need to pay unrealistically large commissions, so selling this token is now impractical.

Hold TXT

Finally, you can just hold TXT. And as practice shows, this method is far from the worst if you consider this token as a long-term investment. Unlike staking, you can transfer or sell your tokens at any time and you don’t have to wait 3 days for them to get unlocked. You can store tokens both on your casino account and on third-party wallets. A casino account is not the most reliable place, because it can be blocked, so it is better to choose a third-party wallet for long-term storage.

Trust Wallet logo

TXT Wallets

Trust Wallet

Network: ERC20.

Platforms: Mobile

Price: free.

TXT support: can be added manually.

Install Trust Wallet

How to add TXT to Trust Wallet?

1. Open Trust Wallet and go to tokens search.

 

2. Scroll to the end of the page and press “Add Custom Token”

3. Insert the Contract Address: 0xb12907dcd65e09871bbd6f1659436f3be310af65 and 
press “DONE”.

TXT import to Trust Wallet 1
TXT Import to Trust Wallet 3

MetamaskMetamask logo

Network: ERC20.

Platforms: Mobile, Web.

Price: free.

TXT support: can be added manually.

Install Metamask 

How to add TXT to Metamask?

1. Open Metamask and press Import Tokens.

2. Select Custom Tokens. Enter the Token Contract Address: 0xb12907dcd65e09871bbd6f1659436f3be310af65 and press “Add Custom Token”

TXT import to Metamask
TXT Import to Metamask-2

Paytomat

Network: EOS.

Platforms: Mobile.

Price: free.

TXT support: by default.

Install Paytomat

TXT Price

At the time of this writing, TXT costs $0.00015. The all-time high price was on March 16 2021 and it was $0.00874. Recently, the token has shown a slight increase. 

TrustDice TXT Price

TrustDice Token Future

In its letter to the TXT holders, the TrustDice team shared their plans for further work on the token. The main point of the article was to improve the liquidity of the token and raise its value. In the near future, the developers promise to add the token to other decentralized exchanges such as SushiSwap and PancakeSwap. Also, following the example of the Binance exchange, the TrustDice team plans to buyback TXT and burn them. To do this, the current pool of staking rewards, which is 50% of the income from the Dice game, will be reduced to 10%, and the remaining 40% will be used for a buyback. The developers said they want to raise the TXT market cap from the current $5,000,000 to $1,000,000,000 within 5 years.

FAQ

TXT or TRUST is an in-house token of the TrustDice gaming platform.

You can buy and sell TXT on the Uniswap exchange.

For the current moment, TXT costs around $0.00015

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