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Singapore, Singapore, twelfth Could, 2022, Chainwire

TUSD has introduced its new area title from trueusd.com to tusd.io for a cleaner, concise, and extra memorable title because it continues to supply safe, quick community companies, and withdrawal expertise. 

With its new area title, TUSD intends to profit the model picture and replicate the model’s place and influence within the {industry}. TUSD has stored up with the most recent development to boost the transparency and stability of various public chains and their DeFi ecosystems, enabling the free move of compliant digital belongings worldwide.

As of Could 5, 2022, TUSD ranked the fourth-largest USD-pegged stablecoin with a market cap of $1.288 billion and over 410,000 holders, following USDT, USDC, and BUSD. TUSD is more and more centered on multi-chain deployment and enlargement within the DeFi ecosystem.

TUSD is very liquid, boasting a month-to-month buying and selling quantity of billions of {dollars} on over 100 exchanges, together with Binance, Huobi, and OKX. Its partnership with mainstream public chains corresponding to TRON, Avalanche, Fantom, Polygon, and so on., and common tasks corresponding to Curve, Balancer, Compound, and extra have provided buyers extra choices and better yields. 

As well as, TUSD has launched the Fountain Incentive Program. This plan earmarks $1 billion price of TUSD and different digital belongings for the DeFi ecosystem and incubates tasks with promising potential.  

TUSD is supported on main centralized lending platforms corresponding to Celsius, Crypto.com, Dharma, and NEXO. NEXO gives TUSD suppliers a secure provide, APY of round 12%, and Invictus Capital, an revolutionary asset funding platform, has supported funds in TUSD, ETH, and USDT. 

Over the previous few years, the stablecoin market has damaged away from USDT’s monopoly to embrace selection. Stablecoins now account for greater than $180 billion in market capitalization, greater than ten occasions larger than two to a few years in the past, making them the spine of the crypto {industry}.

Stablecoins are important within the blockchain {industry} to bridge the hole between cryptocurrencies and the bodily world. They are often broadly adopted and create long-term use instances. Amongst all stablecoins, TUSD has confirmed a pressure to be reckoned with. Secured and stabilized by varied measures, TUSD stands out amongst fierce competitors with three core strengths under.

24-hour Stay Attestations

Stablecoins which can be USD-backed should submit month-to-month audit reviews to show their transparency to the market. However TUSD is among the only a few stablecoins that supply real-time on-chain attestations 24 hours a day, seven days every week.

In accordance with public info, TUSD has additionally turn out to be the primary stablecoin with on-chain dwell attestations, because of Armanino and Chainlink. TUSD has launched its Proof of Reserve & Provide reference contracts and dwell attestations by means of collaboration with Chainlink, an industry-leading decentralized oracle answer, and Armanino, a high 25 accounting agency within the U.S.; TUSD has launched its Proof of Reserve & Provide reference contracts and dwell attestations to increase its distinctive transparency to on-chain environments.

Armanino checks information in real-time and creates particular person reviews evaluated manually to confirm the info’s credibility and transparency. Armanino then makes this information obtainable to the Chainlink oracle community through an API endpoint. The Chainlink community will ship an unique alert to the reference contract on the blockchain, which sensible contracts can rapidly learn if the account stability has deviated past a sure diploma. Suppose the USD fiat reserves provided by TUSD Proof of Reserve are inadequate to again the TUSD circulating provide, then circuit breakers will activate to halt transactions and safeguard customers’ belongings.

“TUSD is among the fastest-growing belongings on the Maker platform,” mentioned a Group Member of MakerDAO. “We want extra tasks had their Proof of Reserve characteristic. It’s an enormous step in the direction of elevated belief and transparency and makes danger evaluation a lot simpler.”

Safety Enhanced by Third-Occasion Escrow

TUSD is totally backed by a fiat reserve, guaranteeing asset security in two methods. TUSD tokens are totally supported by greenback reserves and have a 1:1 ratio to the circulating provide. As well as, the collaborating banks and belief corporations assure TUSD’s dollar-peg safety.

TUSD’s safe, account-based custody companies are spectacular. When a consumer buys TUSD, the TrustToken operations crew doesn’t have entry to the funds. To perform this, the TrueUSD crew leverages its connections with regulated belief corporations, which defend the TUSD funds in escrow. The USD reserves’ tamper-proof custody demonstrates TUSD’s dedication to asset safety.

TrustToken has partnered with 5 banks, together with Signature Financial institution, Silvergate Financial institution, Prime Belief, First Digital Belief, and BitGo. Different {industry} leaders’ banks additionally proceed to supply TUSD customers safe, environment friendly, and handy monetary companies.

24/7 Minting and Redemption Companies

TUSD has the flexibility to maintain its worth secure by means of market mechanisms since it’s at all times redeemable for $1. Outstanding arbitrageurs have already gotten concerned. They’ll purchase TUSD if its worth falls under $1 since they know they’ll promote it on the TrueUSD web site for $1. Conversely, when the worth of TUSD rises above $1, they may buy it after which promote it on the change to make a revenue till it once more equals $1.

The Chainlink community can collect real-time staking statistics, which assures 100% USD collateralization and is a normal that’s much more rigorous than the fashionable banking system. Customers may use the PrimeX know-how by PrimeTrust to get near-instant minting and redemptions by means of the Silvergate Trade Community (SEN) and PrimeX. Customers might obtain direct-to-bank redemption by means of a memorable 5-digit TUSD redemption tackle.

PrimeTrust offers TUSD customers with a quick and environment friendly minting car through PrimeX know-how. Customers can entry 24/7 real-time minting/redemption companies and the optimum settlement approaches. Silvergate Financial institution has created an equally quick and environment friendly minting car and 24/7 real-time minting/redemption companies far superior to these in conventional banks’ portfolios. It offers customers an extremely clean real-time settlement service, boosting the effectivity of TUSD minting and redemption, whereas maintaining its worth secure and dependable.

About TUSD

TrueUSD (TUSD) is the primary independently-verified digital asset pegged 1-for-1 to US {Dollars}. This stablecoin makes use of a number of banks, escrow accounts, and third-party attestations to cut back counterparty danger, present transparency, and stop fraud.

TUSD gives liquidity on dozens of main exchanges and DeFi protocols supported by main OTC desks. TUSD additionally helps practically instantaneous minting and redemption speeds by means of the Silvergate Trade Community (SEN) and PrimeX by PrimeTrust.

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