TrueUSD Goes Live on VVS, a Flagship on Cronos, and Introduces Great Liquidity Incentives
On March 3, 2022, TrueUSD announced its partnership with VVS, a leading decentralized trading platform in the Cronos ecosystem, where it launches a TUSD incentive campaign. VVS is the number one decentralized exchange built on the public chain Cronos and has maintained high APRs for a sustained period of time, which makes it favored by lots of crypto investors. For this partnership, TUSD offers 100,000 TUSD tokens as mining rewards to encourage users to stake VVS for TUSD in a 60-day activity; besides, VVS launches a TUSD/USDC LP pool, where liquidity providers of the pool can earn bonuses of 100,000 TUSD in addition to the basic VVS mining rewards.
This successful cooperation will turbocharge the growth of VVS, the ecosystem of Cronos, and TrueUSD itself. It is foreseeable that this TrueUSD-led incentive activity will not only add to the stablecoin options for users of the ecosystem, but, more importantly, will inject liquidity and vitality into Cronos and VVS. In return, the Inter Blockchain Communications (IBC) protocol of Cronos will facilitate interactions across blockchains and bring more market options to TrueUSD holders.
Cronos is an EVM-compatible blockchain launched by the crypto exchange Crypto.com last November. It has expanded into a flourishing ecosystem, with its total value locked (TVL) growing from a mere $4.8 million to a high of $2.5 billion in February and currently standing at around $2.2 billion.
A considerable proportion of the TVL on Cronos is now contributed by DEXs. Investors pounce on a few premier DeFi projects, among which VVS is one of the best. The TVL of VVS Finance hit an all-time high on February 11 at $1.46 billion, according to Footprint Flash.
TUSD is a USD-Pegged Stablecoin
That is highly transparent, fully collateralized, and verified on-chain in real time. Its monthly trading volume on upwards of 100 exchanges including Binance, Huobi, OKEx, and Poloniex totals billions of US dollars, with users from more than 120 countries. It has been deployed on a number of public chains including Ethereum, TRON, Avalanche, BSC, and HECO, contributing to the growth of ecosystems by injecting abundant initial liquidity into DeFi projects. As of now, the market cap of TrueUSD has exceeded $1.5 billion, of which over $1.1 billion is circulated on Ethereum. This collaboration indicates TrueUSD’s attempt to dive deeper into the DeFi sphere.
It is worth mentioning that stablecoin, as a medium for digital asset trading, also underpin the development of the DeFi ecosystem. Along with the diversified development of the crypto world come tightening policies across the globe. As a result, the stablecoin market will be subject to stricter regulations and closer scrutiny as well. As the world’s most transparent USD-pegged cryptocurrency, TrueUSD is fully collateralized and verified on-chain in real time. With a solid user base, it demonstrates huge growth potential.
At present, TrueUSD offers a diversified portfolio of use cases to its holders by launching collaborative activities with other platforms. These stake-to-earn activities allow users to make passive income while keeping secure, transparent, and compliant stablecoin.
Annabel, TrueUSD’s Marketing and Business Development Director, said that as a low-volatility crypto asset, TrueUSD is an excellent option for payment just as fiat money and will bridge the gap between the digital and real worlds.
The successful tripartite maneuver by TrueUSD, Cronos, and VVS has paved the way for more in-depth cooperation in the future, and TrueUSD will undoubtedly play a pivotal role in the Cronos ecosystem in the near future.