TUSD Goes Live on BNB Chain’s Wombat Exchange
We are thrilled to announce that TUSD has gone live on Wombat Exchange, BNB Chain’s star DEX project. Users may swap TUSD with other stablecoins at minimal slippage and win WOM tokens as rewards by staking in the TUSD Liquidity Pool (LP). The cooperation provides a new use case for TUSD holders and marks a milestone for TUSD’s effort in building up partnerships with DeFi projects and its plan for multi-chain deployment.
Why Wombat Exchange
One point we are very proud to showcase is our rigorous choice of partnerships. With Binance Labs as its early investor, Wombat Exchange is the best stableswap native on BNB Chain. It outperforms other stablecoin swap protocols by enabling liquidity sharing among stablecoin LPs to improve capital efficiency and introducing Coverage Ratios to remove scalability barriers. On top of that, Wombat also enjoys other advantages, including minimal slippage, single token staking, and an intuitive UI. Wombat Exchange is boasting a TVL of $116 million, ranking top three among all DEXs on BNB Chain.
What does this mean for investors?
The recent FTX crash has slammed investors’ confidence in centralized exchanges (CEX). Such panic has resulted in mass withdrawals. For safety reasons, many crypto investors have opted to deposit assets in decentralized exchanges (DEX), which offer better transparency. Wombat Exchange is one of the top DEX protocols on the BNB Chain. The partnership with Wombat Exchange is a natural, rational choice that provides a more flexible and user-friendly DeFi experience for TUSD holders who prefer DEX trading.
Moreover, DEX and Lending are two key areas of the DeFi industry. The cooperation with Wombat Exchange is a decisive move for TUSD to diversify the BNB Chain ecosystem and pursue its multi-chain deployment while providing more options and opportunities for investors.
We can easily learn from the FTX debacle that the safety of crypto assets is the utmost priority for users, so trustworthiness and stability in a volatile market have always been regarded as TUSD’s core values. TUSD will continue to seek partnerships with top DeFi projects and leading Web3 players to provide its holders with the most transparent and convenient user experience as well as improve its use cases and accessibility. We are dedicated to providing the best service and experience for our users.
TrueUSD is the first digital asset attested live on-chain by an independent third-party institution and pegged at 1:1 to the U.S. dollar. So far, it has been listed on more than 100 trading platforms such as Binance, Huobi, and Poloniex, and has been deployed on 12 major public chains including Ethereum, TRON, Avalanche, BNB Chain, Fantom, and Polygon. It is audited real-time by Armanino, one of the largest American accounting firms, to ensure the 1:1 ratio of USD reserves to circulating token supply and the 100% collateral rate. Users can access the publicly available audit results via the official website tusd.io at any time. On October 7, 2022, TUSD was granted statutory status as an authorized digital currency and a medium of exchange in the Commonwealth of Dominica.
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About Wombat Exchange
Wombat Exchange is a multichain stableswap native on the BNB Chain, focused on re-engineering the stableswap experience with its innovative algorithm design as the next-generation stableswap 2.0.
Wombat’s vision is to fuel DeFi growth and push boundaries with greater capital efficiency, increased accessibility, and scalability, with the adoption in a multichain world. To learn more, visit wombat.exchange, or follow us on the social channels below: