TUSD Announces New Domain Name While Continuing To Be A Top Stablecoin With Its Three Core Competencies

Singapore, Singapore, May 12, 2022, Chainwire

TUSD announced its new domain name from trueusd.com to tusd.io for a cleaner, concise and more memorable name as it continues to provide secure and fast network services and withdrawal experience.

With its new domain name, TUSD intends to benefit the image of the brand and reflect the position and impact of the brand in the industry. TUSD has followed the latest trend to increase the transparency and stability of the various public chains and their DeFi ecosystems, enabling the free flow of compliant digital assets around the world.

As of May 5, 2022, TUSD ranked fourth among USD-pegged stablecoins with a market capitalization of $1.288 billion and over 410,000 holders, after USDT, USDC, and BUSD. TUSD is increasingly focusing on multi-chain deployment and expansion in the DeFi ecosystem.

TUSD is highly liquid, with a monthly trading volume of billions of dollars on over 100 exchanges, including Binance, Huobi, and OKX. Its partnership with mainstream public channels such as TRON, Avalanche, Fantom, Polygon, etc., and popular projects such as Curve, Balancer, Compound, etc. offered investors more options and higher returns.

Additionally, TUSD has launched the Fountain Incentive program. This plan allocates $1 billion of TUSD and other digital assets to the DeFi ecosystem and incubates projects with promising potential.

TUSD is supported on major centralized lending platforms such as Celsius, Crypto.com, Dharma, and NEXO. NEXO offers TUSD providers a stable supply, an APY of around 12%, and Invictus Capital, an innovative asset investment platform, has supported payments in TUSD, ETH and USDT.

Over the past few years, the stablecoin market has broken away from the USDT monopoly to embrace the variety. Stablecoins now represent over $180 billion in market capitalization, more than ten times more than two or three years ago, making them the backbone of the crypto industry.

Stablecoins are essential in the blockchain industry to bridge the gap between cryptocurrencies and the physical world. They can be widely adopted and create long-term use cases. Among all stablecoins, TUSD has proven to be a force to be reckoned with. Secured and stabilized by various measures, TUSD stands out among fierce competition with three highlights below.

24 hour live certifications

USD-backed stablecoins must submit monthly audit reports to prove their transparency to the market. But TUSD is one of the very few stablecoins that offers real-time on-chain attestations 24/7.

According to public information, TUSD also became the first stablecoin with live on-chain attestations, thanks to Armanino and Chainlink. TUSD launched its Proof of Reserve & Supply benchmark contracts and live attestations through collaboration with Chainlink, an industry-leading decentralized oracle solution, and Armanino, a top 25 accounting firm in the United States; TUSD has introduced its Proof of Reserve & Supply benchmark contracts and live attestations to extend its outstanding transparency to on-chain environments.

Armanino verifies the data in real time and creates individual reports that are manually evaluated to verify the credibility and transparency of the data. Armanino then makes this data available to the oracle Chainlink network via an API endpoint. The Chainlink network will send an exclusive alert to the benchmark contract on the blockchain, which smart contracts can quickly read if the account balance has deviated beyond a certain degree. Suppose the USD fiat reserves offered by TUSD Proof of Reserve are insufficient to support the circulating supply of TUSD, then circuit breakers will activate to stop transactions and protect user assets.

“TUSD is one of the fastest growing assets on the Maker platform,” said a MakerDAO community member. “We want more projects to have their proof of reserve feature. This is a big step towards increased trust and transparency and it makes risk assessment much easier.

Security enhanced by third-party engagement

The TUSD is fully backed by a fiduciary reserve, guaranteeing the security of the assets in two ways. TUSD tokens are fully backed by dollar reserves and have a 1:1 ratio to circulating supply. In addition, collaborating banks and trust companies guarantee the protection of the dollar peg of TUSD.

TUSD’s secure, account-based custody services are impressive. When a user buys TUSD, the TrustToken operations team does not have access to the funds. To do this, the TrueUSD team relies on its relationships with regulated trust companies, which protect TUSD funds in escrow. The tamper-proof custody of USD reserves demonstrates TUSD’s commitment to asset security.

TrustToken has partnered with five banks, including Signature Bank, Silvergate Bank, Prime Trust, First Digital Trust, and BitGo. Banks from other industry leaders also continue to provide TUSD users with safe, efficient and convenient financial services.

24/7 Minting and Refund Services

The TUSD has the ability to maintain its stable value through market mechanisms since it is always redeemable for $1. Prominent arbitrageurs have already become involved. They will buy TUSD if its price falls below $1 because they know they can sell it on the TrueUSD website for $1. Conversely, when the price of TUSD rises above $1, they buy it and then sell it back on the exchange to make a profit until it is equal to $1 again.

The Chainlink network can collect real-time staking statistics, which guarantees 100% USD backing and is a much more rigorous standard than the modern banking system. Users can also leverage PrimeTrust’s PrimeX technology to achieve near-instant mints and redemptions through the Silvergate Exchange Network (SEN) and PrimeX. Users can receive a direct-to-bank refund via a memorable 5-digit TUSD refund address.

PrimeTrust provides TUSD users with a fast and efficient strike vehicle via PrimeX technology. Users can access 24/7 real-time mint/redemption services and optimal settlement approaches. Silvergate Bank has created an equally fast and efficient minting vehicle and 24/7 real-time minting/redemption services far superior to traditional bank wallets. It provides users with an incredibly smooth real-time settlement service, increasing the efficiency of minting and redeeming TUSD, while keeping its value stable and reliable.

About TUSD

TrueUSD (TUSD) is the first independently verified digital asset pegged 1 to 1 to the US dollar. This stablecoin uses multiple banks, escrow accounts, and third-party attestations to reduce counterparty risk, provide transparency, and prevent fraud.

TUSD offers liquidity on dozens of Exchanges and DeFi protocols supported by major OTC desks. TUSD also supports nearly instantaneous minting and redemption speeds through PrimeTrust’s Silvergate Exchange Network (SEN) and PrimeX.

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