At Gilded, our mission is to grow the digital currency economy by creating essential tools that facilitate business adoption of crypto.
One of the biggest obstacles today is trust, because crypto transactions are not reversible. If one party to a payment does not hold up to the agreed terms, the other party has no recourse to recover their lost payment.
A new technology created by TrustSwap adds a smart powered escrow layer to the Ethereum blockchain. This escrow layer can be programmed for many use cases, including time-based payments, subscription payments, token grants, and token swaps.
Gilded and TrustSwap are partnering to offer subscription payments, accounting, and transparency tools using the TrustSwap protocol.
Crypto Subscription Payments
Crypto payments today suffer from a lack of scheduling options. Payments must be made on-demand, one-time, and cannot be automated. This makes it impossible to offer a subscription payment model, preventing virtually every Software-as-a-Service (SaaS) company in the $500 billion subscription economy from accepting cryptocurrency today.
Gilded will add a business layer to the TrustSwap protocol, giving businesses an easy way to accept crypto subscription payments. Gilded’s solution will include an API for rapid implementation, invoicing, email notifications, fiat on/off-ramps, a billing and reporting dashboard, and accounting software integration.
Accounting for Crypto Assets
Although crypto transactions can easily be viewed on a block explorer, the reasons for a transaction are not always easy to keep track of.
TrustSwap will integrate a Gilded expense categorization widget, to enable users of the TrustSwap app to easily and privately categorize their own transactions for accounting purposes.
Once categorized in Gilded, a user’s TrustSwap transactions will be exportable to CSV and QuickBooks Online.
Token Issuer Transparency Dashboard
Although the DeFi market is booming, investors lack access to the most basic trust and transparency metrics available to traditional stock market investors. Audits, financial reporting, and disclosure statements are essential to the continued growth and maturity of the DeFi ecosystem.
Gilded and TrustSwap will create a Transparency Dashboard for Initial Liquidity Offerings (ILOs) on the TrustSwap platform. With the transparency dashboard, current and prospective investors will be able to view treasury holdings, token grants, lock-up schedules, and aggregated income and expenses for token issuers in real-time.
Given the choice to invest in projects that do not disclose usage of funds, and projects that disclose financial statements in real-time, the projects that offer more transparency will become increasingly desirable.
This new level of accountability will become the gold standard for Distributed Autonomous Organizations (DAOs) to establish trust with investors and ecosystem partners.
In addition, Gilded’s digital currency invoicing, payment, and accounting solution will streamline business operations for DAOs on the TrustSwap platform.
Frontier of A New Financial System
In the past, the only way to enable trust during commercial transactions was through the use of an intermediary.
Today, banks hold trillions of dollars in assets, specifically because they can act as trusted intermediaries to ensure that transactions are completed legitimately.
TrustSwap opens the door to a new financial system where trust can be established in real-time without the need for banks, increasing access to financial services while also bringing down costs.
With Gilded, businesses will be able to leverage the TrustSwap protocol without sacrificing the professional tools and integrations they need to operate efficiently.
Gilded will also give crypto investors a powerful new tool to measure the financial health and trustworthiness of DAOs and other token issuers.
“We’re excited to build the business layer for TrustSwap, giving businesses and investors the tools they need to benefit from the TrustSwap protocol," said Gil Hildebrand, CEO of Gilded.
“Gilded is a market leader in enabling businesses to adopt crypto. We’re excited to partner with them to create a slick user experience for traditional businesses to accept crypto subscriptions,” said Jeff Kirdeikis, CEO of TrustSwap. “Even more, Gilded’s transparency dashboard will allow for a quickly digestible, high level view of how project funds are being spent in real time adding massive trust to ILO launches on the TrustSwap platform.”
TrustSwap is a full-service DeFi platform offering a suite of practical applications that empower people and organizations to easily and securely exchange cryptocurrency and digital assets using fully-audited, customizable smart contracts. TrustSwap saves time and money by greatly reducing the need for banks and attorneys, with services such as SmartSwap (trustless P2P transactions), SmartEscrow (trustless escrow), and SmartSubscriptions (time-released payments).
TrustSwap is also an ILO launchpad that provides a powerful toolkit to help new blockchain projects easily integrate into DeFi while building trust and protecting early investors. These include SmartLock (distributes Team/OTC tokens over time to prevent exit scams) and SmartWrap (ERC20 token wrapping). The TrustSwap platform is powered by the SWAP token on the Ethereum blockchain.
To learn more about integrating cryptocurrency payments and smart contract solutions into your business, please visit https://trustswap.org/.
Gilded empowers businesses to transact globally, using blockchain to unlock more efficient business operations. Our seamless invoicing, payment, and accounting software helps businesses get paid faster and more transparently, with dramatically lower fees.
Founded in 2018, Gilded is backed by Techstars, Request Network, and was selected to participate in an accounting-focused startup accelerator presented by the Association of International Certified Public Accountants (AICPA) and CPA.com.