TRUEUSD stablecoin - detailed review from UNI Stex Exchange

15.11.2021

TRUEUSD stablecoinTrueUSD is a stablecoin, one of the digital alternatives to the US dollar. The rate of TrueUSD is almost exactly the same as the rate of the fiat US dollar. TRUEUSD entered the cryptocurrency market in early 2018. Exchange rate of TrueUSD fluctuates around one percent, which ensures the closest equal amount when exchanged for the fiat US dollar. This is an advantage of the stablecoin which protects its owners from volatility in the cryptocurrency market.

TrueUSD is a stablecoin regulated by the Trust Token company. It is a specialized platform for tokenization of real assets, including for the creation of smart contracts and NFT's of various configurations.

As the other stablecoins, TrueUSD was created with the main goal of increasing the overall liquidity of the crypto market. It is a digital asset with no mining costs compared to free-floating tokens, such as bitcoin (BTC). TrueUSD cannot be mined, it is a ERC20 contract based on the Ethereum network. 

A brief history of TrueUSD

TrueUSD stablecoin was created by the innovative company TrustToken (based in Silicon Valley), co-founder and CEO of which was Rafael Kosman. Before starting a new project, he actively developed crypto projects at Google Brain and the Palantir software developer company.

In its investment memorandum (White papers), TrustToken describes TUSD as "a centrally regulated cryptocurrency unique in its kind, with a guarantee of securing its value with the US dollar."

TrueUSD is part of the actively growing stablecoin market, which now includes a considerable number of cryptocurrency assets backed by the US dollar.

TrustToken has many new projects, including the development of platforms and services that allow investors in TUSD to increase the annual percentage of profitability through passive income financial instruments (staking and landing).

TrueUSD tokenomics 

TrueUSD tokenomicsThere are about 1 billion TUSD coins on the market. Given the status of the stablecoin declared by the developers, the volume of coin supply will continue to increase in accordance with market demand. To fulfilling the market demand - ODL (on demand liquidity) technology is used.

So far, only two versions of TUSD are available on the cryptocurrency market:

The first is a token generated using the ERC-20 encryption protocol on the Ethereum blockchain platform.

The second version is known as TUSDB, BEP-2 protocol based token on the Binance Chain smart contract platform.

The possibility of equivalent exchange of TrueUSD for real US dollars or other fiat currencies is supported through partnerships with banks, crypto exchanges, electronic payment services and funds (database repositories, crypto wallets).

TUSD market Statistics

  • TrueUSD Price (fixed token price) - $1.00
  • Trading Volume (average daily trading volume) - $ 130,442,515.
  • Volume / Market Cap (issue volume\ capitalization) - 0.1072
  • Market Dominance - 0.04%
  • Market Rank - #98
  • Fully Diluted Market Cap (Full capitalization including additionally issued tokens) - $ 1,219,673,460

TrueUSD and US dollar

TrueUSD and US dollar

The stability of the TrueUSD exchange rate in the market is maintained centrally, through the mechanism of ODT (on demand liquidity) provided by developers. There may be only a larger number of TrueUSD tokens in the circulation system, since the US Federal Reserve System is constantly increasing the volume of supply of the fiat currency (US dollar). As far as the number of tokens will correspond to the issue of the dollar, its exchange rate will be stable.

 The US dollar will likely not lose the status of the world reserve currency soon. Therefore, its digital analogue can be used as a universal means of payment on blockchain networks. This will also support the expanding demand for cryptocurrencies in general and TrueUSD in particular.


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