Singapore, Singapore–(Newsfile Corp. – January 24, 2022) – TrueUSD proclaims its 2021 overview. The stablecoin market skilled explosive development in 2021. The complete provide of U.S. dollar-pegged stablecoins soared to 388%, from $29 billion at the start of the yr to greater than $140 billion. Stablecoin utilization additionally reached an all-time excessive: the adjusted annual buying and selling quantity of stablecoins exceeded $5 trillion in 2021, a year-on-year enhance of over 370% in comparison with that in 2020.
As a stablecoin pegged to the U.S. greenback, TrueUSD boasted a provide to the tune of $1.5 billion in 2021 at its peak. It additionally made breakthroughs in multi-chain deployment, partnerships with banks and DeFi ecosystem tasks, and different facets. Let’s have a look again at TrueUSD’s achievements in 2021.
I. Partnership with banks: 24/7 minting and redemption service
After coming into right into a partnership in 2021 with Silvergate Bank, a licensed U.S.-based financial institution, TrueUSD leveraged the Silvergate Exchange Network (SEN) to ship near-instant token minting and redemption providers.
TrueUSD additionally collaborated with Signature Bank to understand on the spot deposit and withdrawal by integrating its stablecoin TUSD into Signature Bank’s Signet, a blockchain-based digital cost platform by which TUSD customers have entry to real-time cost and settlement providers.
II. Multi-chain deployment: a compliant, clear USD-pegged stablecoin for public chains and their DeFi ecosystems
Throughout 2021 “DeFi” was a key phrase for TrueUSD. It partnered with main public chains, together with TRON, Avalanche, Fantom, and Polygon, to introduce extra transparency and stability to the world of public chains and their DeFi ecosystems whereas permitting TUSD holders to have extra funding choices that deliver greater earnings.
Among TrueUSD’s DeFi companions, PancakeSwap and Balancer (Polygon), which supplied liquidity incentives, was the preferred, and the Gold Shovel Mining marketing campaign with HECO additionally acquired important consideration. TUSD holders might earn simple rewards by offering liquidity to LP swimming pools and taking part in TUSD lending. Moreover, it’s value noting that TrueUSD invested 1 million TUSD into its partnership with PancakeSwap as bonuses that added to customers’ earnings.
In addition to its partnerships, BeliefToken additionally launched the collateral-free lending product TrueFi, one of the primary merchandise that permit customers who’ve handed credit score model-based checks to borrow TUSD with no collateral. BeliefToken, the operator of the lending protocol TrueFi and stablecoin TUSD, raised a complete of $12.5 million, with BlockTower Capital, Andreessen Horowitz (a16z), and Alameda Research main the spherical by buying TrueFi’s native token TRU.
III. Collaboration with exchanges: mounting help for TUSD holders
TrueUSD has established partnerships with greater than 100 exchanges, together with bigger well-known exchanges equivalent to Binance, Huobi, and Poloniex.
Among its accomplice exchanges, Binance, FTX, and Bittrex have supported the deposits and withdrawals of ERC20-TUSD, whereas these of TRC20-TUSD can be found on Huobi, Poloniex, Gate.io, and MEXC. As extra customers go for stablecoins as safe-haven property and a cost instrument, TrueUSD has continued to develop cooperation with crypto exchanges, enabling TUSD deposits and withdrawals for a broader viewers. This has supplied customers higher comfort and extra choices.
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Besides, Crypto.com Exchange introduced that customers can now swap between USDC, BUSD, GUSD, and TUSD at a 1:1 ratio with zero transaction charges. This characteristic permits customers to acquire TUSD extra simply.
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IV. TUSD actions: stablecoins as high picks for safe-haven seekers
To survive in a risky market requires safe-haven property, and stablecoins change into the most suitable choice. Grasping the market development, TrueUSD held asset administration actions equivalent to Huobi Savings and HODL on Huobi, Bibox, and Poloniex, offering customers with simple, versatile, and high-yield giveaway campaigns and extra rewards. These campaigns received large consideration from customers upon rolling out and introduced them beneficiant rewards.
V. OTC markets: greater buying and selling flexibility
It is well-known that OTC buying and selling has a major benefit in phrases of buying and selling flexibility and is a robust complement to the market. Furthermore, on September 26, 2021, crypto cost processor Simplex built-in stablecoin TrueUSD (TUSD) with fiat on- and off-ramp providers, permitting customers to make use of a debit card or a bank card to buy TUSD by way of Simplex, which additional enhanced the pliability of buying and selling.
VI. A brand new document excessive: TrueUSD’s market cap topping $1.5 billion
2021 witnessed TrueUSD’s exceptional progress in public chain, DeFi, and trade cooperation, which fueled the sharp enhance of its market cap. Coinmarketcap’s stats present that the market cap of TrueUSD hit $1.5 billion on June 10; the quantity of TUSD holder addresses handed the 400K mark on December 27. These figures communicate volumes to TrueUSD’s achievements, made doable with group customers’ continued help.
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VII. TrueUSD’s mascot: TrueBull made its debut
On October 25, TrueBull, TrueUSD’s mascot, made its debut. As an IP merch to have interaction extra customers to study TrueUSD, the stunning TrueBull additionally represents our bull run expectations.
TrueUSD additionally introduced the launch of the $1 billion Fountain Incentive Program to turbocharge the expansion of numerous DeFi ecosystems. The scheme can be used to incubate tasks with potential by introducing TrueUSD and different digital property value $1 billion to DeFi ecosystems, additional powering the expansion of ecosystems. Automated market-making protocol Balancer (Polygon), listed TUSD, the place it’s the most worthwhile TUSD stablecoin pool. Therefore, the launch of the motivation swimming pools of TrueUSD will certainly deliver extra visitors to Polygon and Balancer whereas providing customers within the ecosystem extra stablecoin choices.
Besides, TrueUSD held a number of AMAs in Telegram communities with its companions equivalent to FilDA and Polygon, which is a candy spot to assist customers higher perceive TrueUSD and make clear their questions.
In 2021, TrueUSD turned a heavyweight within the blockchain trade with its edges in stability, transparency, and compliance. Moreover, its exploration of completely different public-chain ecosystems and efforts within the DeFi subject have ready TrueUSD for a glittering 2022.
In 2022, TrueUSD will carefully observe the trade development by giving full play to its strengths. While scaling up cooperation with main exchanges, public chains, and their DeFi ecosystems, we’ll discover extra progressive use instances of TrueUSD to supply higher worth for customers.
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Contact
Peggy Yue
[email protected]
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