On 9 June 2021 Trust crypto wallet announced to its community that it had no option but to remove their very popular dApp browser integration for iOS Trust Wallet users. In this post we’ll go over why, what this means for how you use Trust Wallet, and what to do if you have assets in the dApps that currently feature in the Trust crypto wallet dApp library.
What is Trust crypto wallet?
Trust Wallet is a crypto wallet app owned by the Binance group. It’s popular for offering plenty of functionality across the crypto and DeFi ecosystems that benefit its users. It has also found popularity in it’s integration with Binance Smart Chain, which allows users to access DeFi products and transact their crypto far more cheaply than transacting on the Ethereum Mainnet.
If you’d like a run down on what it is and all of the benefits, check out out Trust crypto wallet review here.
Trust Wallet iOS users will be disappointed to learn that the the next iOS update will come minus the convenience of their dApp browser integration.
Fortunate Android users will be unaffected by this downgrade in the Trust crypto wallet services.
Trust Wallet explains that dApps by nature constitute “code not embedded in the [app] binary,” and that they need to meet several criteria to be allowed in an iOS app. It seems the Trust Wallet development team have been in discussions with Apples App team, but have been unable to meet the criteria required for the App Store.
What does this mean for Trust Wallet iOS users?
In short it means fewer reasons to use the Trust crypto wallet. The dApp browser was a one of the main reasons we started using the Trust Wallet in the beginning as we found ‘on the go’ access into DeFi protocols like PancakeSwapp and Aave, and NFT market dApps just really convenient.
The Trust Wallet announcement says that for the time being you can still access dApps manually by typing the URL into a web browser but you . Last we checked this dApp menu was still available but the library of dApps is gone. Instead you’re presented with a search bar that allows you to type the web URL directly within the Trust Wallet to locate your coins.
In the future, if you have crypto sitting inside any of the DeFI protocols that you once used to access through your Trust Wallet, you’ll need connect to the protocol using WalletConnect, which provides an interface into Trust Wallet.
Is is still worth using Trust Wallet without the dApps function?
So what is the difference in using Trust Wallet now versus another crypto wallet app that has really good dApp integrations, especially integrations into DeFi protocols where you can lend, stake and farm crypto?
Well if you take a look at something like Metamask, which is probably the most integrated crypto wallet app and web browser, Trust Wallet still offers some additional market features within the wallet that you don’t get inside the Metamask wallet, namely
- an exchange function
- limited staking options
- a place to store collectibles like NFTs
The question is though, with all of the Metamask integrations and ease of use, is this enough to keep driving users to use the Trust Wallet? Our sense is that Trust Wallet will need to come out with more features to attract back the iOS users it will drop with these cut backs.
The even bigger question is, will Apple continue to stand in the way of crypto innovations like dApp integrations or will they recruit in some crypto and DeFI experts and find a way to work with the true innovation (and combat the scammy fake wallet apps that keep popping up in the App Store at the same time?