TUSD LP Pool Goes Live on Optimism-Based AMM Velodrome and Offers $TUSD Bribes

3 min readSep 22, 2022

TrueUSD launched a TUSD-USDC LP pool on Velodrome on September 20, 2022. It plans to incentivize veVELO holders to vote for the pool by offering TUSD rewards and thus increase the yields for the pool’s liquidity providers (LPs).

Why did TrueUSD choose Velodrome? What does Velodrome offer?

Velodrome is an automated market maker (AMM) native to the Optimism blockchain. With a TVL of $76.53 million[2] , it ranks top among all decentralized exchanges (DEXs) on Optimism. It allows users to exchange digital assets at an affordable cost with low slippage. Compared with its competitors, Velodrome offers more comprehensive functionality that draws on the strengths of Curve, Solidly, and Votium. veVELO holders vote to decide which LP pools receive VELO rewards, while projects on Velodrome are encouraged to attract votes with additional incentives to improve their liquidity and yield rates.

(Data source: DeFiLlama, September 20, 2022)

What are the advantages of projects on Optimism over those on Ethereum?

As a dominant layer 2 scaling protocol for Ethereum, Optimism covers all spheres of the crypto ecosystem, including the cross-chain bridge, DAO, DeFi protocol, and NFT. On top of its impressive compatibility with Ethereum, performance, and cost efficiency, Optimism gives away a large amount of OP rewards to incentivize projects and users to contribute to its ecosystem. As of now, it hosts a myriad of established projects, including Aave, Synthetix, and Uniswap, as well as promising native projects such as Velodrome, Pika Protocol, and Rubicon.

(Data source: DeFiLlama, September 20, 2022)

What will this campaign bring to TrueUSD? What are the focuses of TrueUSD in the future?

The launch of the TUSD LP pool and the incentive campaign will present TUSD holders with more use cases and higher APYs. It is foreseeable that the pool’s depth will see a sharp increase in the short term, channeling more TUSD liquidity from the expensive Ethereum chain to Optimism. In the long term, it will also serve as the bedrock for future in-depth collaboration between TrueUSD and more popular Optimism-based DeFi protocols. TUSD will surely become a major player in the Optimism ecosystem.

As the world’s most transparent, fully collateralized U.S. dollar-pegged stablecoin with live on-chain attestations, TrueUSD has long been committed to expanding its multi-chain deployment to inject more transparency and stability into different ecosystems. We have been keeping a close eye on popular ecosystems, emerging platforms, and new, promising potential partners, despite the current quiet DeFi market, to prepare for the next crypto investment frenzy. Meanwhile, TUSD has maintained sustained growth, aiming to provide the best solution and yields in the industry for our holders while ensuring transparency and security.

About TUSD

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, the largest U.S.-based accounting firm, 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.

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