What is TrueUSD (TUSD):
1.TrueUSD is a stablecoin issued on the Ethereum platform, pegged to the US dollar at a 1:1 ratio. This means that each unit of TrueUSD is guaranteed to be equivalent to one US dollar, similar to other popular stablecoins currently available. TrueUSD Developed by TrustToken and overseen by leading auditing firms such as Armanino, Cohen & Company, and ConsenSys Diligence.Currently, in addition to Ethereum, TUSD also supports other popular blockchain networks, including BNB Chain, Arbitrum, Fantom, Polygon, and more.
2. What is TrustToken:
TrustToken is a fintech company founded in 2017, specializing in blockchain and digital currency solutions, and has received investments from giants such as a16z, BlockTower, and Morgan Creek. TrustToken The main goal is to create tokens backed by real-world assets to enhance the transparency and reliability of digital currencies. TrustToken
Develop and manage multiple tokens, including TrueUSD (TUSD), TrueGBP (TGBP), and TrueAUD (TAUD).
3. The operation mode of TrueUSD (TUSD):
Each TrueUSD (TUSD) token is equivalent to one US dollar. All dollar-denominated reserves are held in third-party escrow accounts.When users purchase TrueUSD, they must pass KYC/AML verification and deposit US dollars into one of TrueUSD's trusted partner accounts. After the funds are verified, TrueUSD tokens will be issued at a 1:1 ratio based on the amount deposited.
4. Comparing TUSD with current stablecoins:
According to DefiLlama's stablecoin market share ranking as of the time of writing this article (February 28, 2023), TUSD ranks fifth, with a total circulating supply of over 1.1 billion, the highest since August 2022. Compared with the three most popular stablecoins currently (USDT, USDC, BUSD), the current 1.1 billion supply of TUSD is still a "moderate" figure. TUSD needs to invest a lot of time and gain more community adoption to achieve a higher position in the stablecoin market. Over 60% of TUSD (approximately 671 million US dollars) is distributed on the Ethereum network, while 37.8% is on the TRON network.
5. Are there any transaction fees for TUSD?
The transaction fees for TUSD depend on the exchange or trading platform you use. However, the transaction fees for TUSD are usually lower than those for other cryptocurrencies. The above is the information about the TUSD project. Let's study and evaluate it together to make the wisest investment decision. Good luck!