Celebrating One Year of Stablecoin TUSD’s Deployment on TRON

2 years ago 128

Singapore, Singapore, 19th April, 2022, Chainwire

TUSD celebrates its successful one-year introduction to the market. April 9 marked the first anniversary of the stablecoin’s deployment on the TRON blockchain. Since then, TUSD, the first fully-regulated USD-pegged stablecoin on TRON with real-time on-chain audit, has been on the growth upswing, attracting large numbers of users while partnering with industry-leading DeFi projects.

TUSD’s deployment on TRON has reduced both cost and time for users to engage in decentralized financial transactions.

Over the past year, the supply of TUSD ranked third among stablecoins of the same kind in the TRON ecosystem, trailing USDT and USDC. As of April 8, the supply of TRC-20 TUSD exceeded $240 million, representing 18.6% of TUSD’s total supply. The number of on-chain token holder addresses surpassed 306,000, and the total amount of on-chain transfers surged past $8.1 billion. In addition, mainstream centralized exchanges, including Poloniex, Kucoin, and Gate.io, now support deposit/withdrawal of TRC-20 TUSD, showing widespread recognition of TUSD from all TRON users in the overall digital money market.

Furthermore, with the recent heat of DeFi mining, TUSD has been selected by Genesis Mining of TRON to launch the TUSD-TRX LP liquidity mining and TUSD stake-to-mine activities on Sun.io, JustSwap.org, as well as other platforms, delivering substantial mining subsidies and smooth experience to users.

Holders of TRC-20 TUSD also received the airdrop of NFT, which has been listed on leading exchanges such as Huobi and Gate.io, from the APENFT Foundation in June 2021.

“Stablecoins will continue to play an important role and thrive in the cryptocurrency market,” H.E. Justin Sun, Founder of TRON, said. “I believe the successful launch of TRC-20 TUSD will bring tangible benefits to both sides. TRON’s developers and community members will be given access to a fully compliant USD-pegged stablecoin, and the ecosystem will become healthier and more comprehensive. I also believe that with the help of TRON’s prosperous and diverse ecosystem, TUSD will be able to better promote its values of security, compliance, and transparency, which are also the core values of any blockchain, in every corner of the world.”

TUSD has kept up with the latest trend to increase transparency and stability of different public chains and DeFi ecosystems so digital assets can flow freely worldwide. In addition to TRON, it has been natively deployed on Ethereum, BNB Chain, and Avalanche. Its monthly trading volume on over 100 exchanges, including Binance, Huobi, and OKX, has reached the billions, proving its immense liquidity. The tables below show some popular exchanges that support TUSD.

As one of the most critical components of the crypto-financial infrastructure, stablecoins are a source of trust and stability in the market. TUSD expects to continue settingan example in compliance, transparency, and security as a minimal-volatility crypto asset, to benefit the ecosystems of TRON and other blockchains alike, offering more market options and higher yields while introducing new opportunities to asset holders, entrepreneurs, and investors worldwide.

About TUSD

TrueUSD (TUSD) is the first independently-verified digital asset pegged 1-for-1 to US Dollars. The 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 leading exchanges, DeFi protocols and is supported by major OTC desks. TUSD also supports nearly instant minting and redemption speeds through the Silvergate Exchange Network (SEN) and PrimeX by PrimeTrust.