TrueUSD is pleased to announce that TUSD is now live on TRON, one of the top three public chains worldwide, to deliver lower fees and faster transfer to users.
As the market for open finance, which features decentralization, witnesses a vigorous growth since 2020, stablecoins like TUSD have surged across all metrics including supply, number of unique addresses and DAU thanks to their functionality that aligns values and builds the bridge between traditional and decentralized finance.
In the meantime, however, problems such as high gas fees on Ethereum and network congestion become ever more acute. High handling fees and slow transfer have compromised trading experience for users of TUSD, a compliant USD-pegged stablecoin popular among a number of communities for making small and medium-sized transfers.
While we have hopes for the Ethereum Layer 2 solution, we are also aiming for solutions on other public chains. TRON, as one of the top three public chains in the world, is obviously a first choice. Today, we are pleased to announce that TUSD has been launched on TRON to offer users lower cost and faster transactions!
Stablecoins on TRON now take up 26.6% of the total market, second only to Ethereum. Moreover, TRON is well on its way to exceed Ethereum in stablecoin trading volume. That’s definitely not pure luck. TRON features high throughput, scalability and security, which lays the foundations for such remarkable achievements and our decision to deploy TUSD on TRON.
TRON network guarantees security and stability through its DPoS mechanism. With such high performance, TRON also grants each TRX token holder the right to jointly govern the ecosystem.
TUSD has been successfully deployed on TRON. It adopts the fungible-token-friendly TRC20 standard, which is also the most widely-applied issuance protocol on TRON. Each TUSD token, as a bridge to convert value between fiat money and digital currency, has the same properties and features. With TRC20-TUSD, users are able to enjoy the diverse and open financial services on TRON with super-low fees and nearly-instant transactions.
As a highly compliant and transparent stablecoin pegged 1:1 to the US Dollar, TUSD is monitored in real-time by Armanino, a well-known accounting firm in the U.S. TrueUSD is managed by TrustToken, a licensed MSB. As regulation tightens across the globe, the birth of TRC20-TUSD reduces the risk of cryptocurrency users caused by limited choices of stablecoins. Furthermore, it enriches types of stablecoins in the TRON ecosystem and provides a more secure and compliant option for tens of millions of members and developers in the TRON community.
“TRON warmly welcomes the fully transparent and on-chain attested stablecoin TUSD to join us on TRON,” said Justin Sun, TRON founder and BitTorrent CEO, “It is also a wise decision for TUSD to be issued on TRON, as TRON is known to have many successful cases of stablecoin issuance, with TRC20-USDT as the most widely known case; the steady increase of TRC20-USDT circulation supply and unique addresses are adequate proof. Stablecoins will continue to play an important role and thrive in the cryptocurrency market. In conclusion, I believe the launch of TRC20-TUSD will bring tangible benefits to both parties; 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 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.”
Prior to the partnership with TRON, TrueUSD had also been launched on Binance Chain and Avalanche in addition to Ethereum to realize its vision of enabling free circulation of transparent and compliant digital assets across the globe. With the issuance of TRC20-TUSD, “TUSD is taking this even further.”
TRON is committed to promoting the decentralization of the Internet and is dedicated to building the infrastructure for a decentralized Internet. The TRON Protocol, one of the largest blockchain-based decentralized operating systems in the world, offers scalable, high-availability, and high-throughput support that serves as the foundation for all decentralized applications in the TRON ecosystem. The Protocol also uses an innovative, pluggable smart contract platform to improve compatibility with Ethereum smart contracts.
The stablecoin TrueUSD (TUSD) is the first digital asset in the world that is audited and certified by an independent third party and is able to be redeemed 1:1 for US dollars. By establishing partnerships with internationally renowned banks, custodial accounts and third-party verification of funds, TUSD lowers risk in transactions, ensures transparency and provides token holders with a legal and reliable digital dollar-pegged asset.