How Far Has TUSD Gone Since Being Deployed on TRON One Year Ago?
The date April 9, 2022 marks the first anniversary of the stablecoin TUSD’s deployment on TRON. It was on this day last year that TUSD was officially introduced to the market on TRON. Since then, TUSD has been on the upswing in its growth, attracting a multitude of users while partnering with many DeFi projects.
TRC20-TUSD’s deployment on TRON has drastically reduced the money and time for users to get engaged in decentralized financial activities, curtailed their handling fees, and raised the transfer speed. Over the course of 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 TRC20-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 was higher than $8.1 billion. In addition, mainstream centralized exchanges including Poloniex, Kucoin, and Gate now support the deposits and withdrawals of TRC20-TUSD, indicative of the universal recognition of TUSD from TRON’s users and the whole digital currency market.
Moreover, with DeFi mining being all the rage, TUSD has been selected to Genesis Mining of TRON, launching the TUSD-TRX LP liquidity mining and TUSD stake-to-mine activities on Sun.io, JustSwap.org (now: SunSwap )and other platforms, delivering an eye-watering sum of mining subsidies and smooth experience to users. On top of that, holders of TRC20-TUSD, the first compliant, transparent USD-pegged stablecoin on TRON, also received the airdrop of NFT, which has been listed on well-known exchanges including Huobi and Gate.io, from APENFT Foundation in June 2021.
As TRON founder Justin Sun said when TUSD was deployed on TRON, “Stablecoins will continue to play an important role and thrive in the cryptocurrency market. I believe the successful launch of TRC20-TUSD will bring tangible benefits to both sides: developers and community members on TRON will be given access to a compliant USD-pegged stablecoin, and the ecosystem will get healthier and more comprehensive. I also believe that with the help of TRON’s prosperous and diverse ecosystem, TUSD will promote its values of compliance and transparency, which are also core values of blockchain, to every corner of the world.”
In recent years, TUSD has kept up with the latest trend to raise the transparency and stability of different public chains and their DeFi ecosystems, so that transparent, compliant digital assets can flow freely worldwide. In addition to TRON, it has been natively deployed on the Ethereum, Binance Chain, and Avalanche networks, and its monthly trading volume on over 100 exchanges, including Binance, Huobi, and OKEx, has reached billions, a symbol of its surprisingly high liquidity. The table below illustrates the popular exchanges that offer multichain support for TUSD.
As one of the most important components of the crypto financial infrastructure, stablecoins are a source of trust and stability in the volatile market. With this in mind, we have been constantly meeting our customers’ expectations by providing a financially secure product, which is also where the core value of TrueUSD lies. Going forward, TUSD expects to set an example in transparency, security, and community events, and, as a low-volatility crypto asset, to benefit the ecosystems of TRON and other blockchains with more market options and higher yields, while introducing new opportunities to asset holders, entrepreneurs, and investors all over the world.
TrueUSD is the first digital asset with live on-chain attestations by independent third-party institutions and is backed 1:1 with the U.S. dollar. So far, it has been listed on more than 100 trading platforms such as Binance, Huobi, and Poloniex, and is live on well-known public chains such as Ethereum, TRON, Avalanche, BSC, Fantom, and Polygon, providing them with a great deal of liquidity to catalyze their growth. TrueUSD is audited real-time by Armanino, one of the largest U.S.-based accounting firms, to ensure the 1:1 ratio of its USD reserve to the circulating token supply and the 100% collateral rate. Users can access the publicly available audit results via the official website at any time.
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