TrueUSD (TUSD) - a cryptocurrency, pegged to the US dollar. It was the first to add the TrueUSD coin, which belongs to the class of so-called stablecoins - coins, the rate of which is pegged to real assets and does not imply high volatility.
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What is TrueUSD (TUSD)?
TrueUSD was first launched to a limited investor base in January 2018. As with other stablecoins, TrueUSD aims to facilitate increased liquidity and provide crypto traders and general users with a non-volatile asset relative to free-floating tokens such as Bitcoin (BTC).
The organization also cooperates with licensed financial institutions that take part in providing cryptocurrency. To improve security, TrustToken developers do not have access to asset transactions. Funds are handled by trust companies and banks directly.
Project features
TrueUSD strives to balance stability and utility - the main use cases for any stablecoin - with security in the form of regular attestations.
The unique proposal of the project is as follows:
| Standards | Careful compliance with standards to ensure that the digital currency exchange rate is stable. |
| Organizations | Financial institutions, responsible for providing cryptocurrencies, do not require customers to provide personal information. |
| Price | According to the provisions of smart contracts, the exchange of TrueUSD for fiat money is carried out at a ratio of 1:1. This is the key to a stable price. |
Since its launch, parent company TrustToken has sought to highlight the importance of independent verification of the origin of a stablecoin. As such, the appeal of a stablecoin is geared towards larger investors, looking to reduce risk, in addition to smaller individual traders.
TrueUSD is part of an ever-expanding stablecoin market that includes a large number of USD-backed assets now.
Buying and selling a token
As of 2020, there is about 381.9 million TUSD in circulation. Given its stablecoin status, the supply is unlimited and will continue to expand in line with demand. As part of tokenization, the platform provides the following services:
- TrastToken;
- TrustVault. A vault, devoid of central management, where all assets lie;
- TrustProtocol. Protocol, which describes the powers and responsibilities of trustees;
- TrustMarket. This service helps users to find trusted individuals who cooperate with relevant institutions and administer virtual assets.
To purchase a currency, it is necessary to pass the KYC / AML verification, upon completion, the number of the escrow account and the contract of ownership is issued. You can sell your tokens at any time. To carry out the operation, it is necessary to send a check, confirming the passage of identification, a smart contract and tokens.