Location: Alpaca Telegram
Date and time: July 22nd, 8 PM HKT
Theme/Topic: DeFi Discovering the Comprehensive Value of TUSD on Alpaca
AMA Structure will be:
1. Predetermined Q+A: 5–10 questions which we can source from the comments here: https://twitter.com/tusd_official/status/1415159568347197449
Or TUSD can also add Q+A
2. NFT giveaway. Same as we did before. 3 minutes for users to fill out a google form
Annabel, TUSD director of marketing and business development. Annabel used to be in advertising and investor relations, but then discovered she was more interested in blockchain!
And now, we welcome her and TrueUSD to Alpaca!
Hi everyone, I’m Jopaca in Alpaca Finance, and supporting to host this AMA. Our AMA will have 2 sections.
Section 1. Predetermined Q+A
The group will be muted and we will ask Annabel G. 9 questions which we can source from the comments here: https://twitter.com/tusd_official/status/1415159568347197449
Section 2. NFT giveaway
Same as we did before. 3 minutes for users to fill out a google form
Please give us a few minutes to get ready, we will be with you as soon as possible.
Today we have the pleasure to have Annabel G., Director of Marketing and Partnership at TUSD for a much-awaited AMA session. Annabel used to be in advertising and investor relations, but then discovered she was more interested in blockchain! And now, we welcome her and TrueUSD to Alpaca!
[Annabel G. Speaking] Thanks Jopaca for the warm welcome!
Hi Annabel, nice to see you here. Before we go on with AMA, could you give us a quick presentation of yourself?
[Annabel G. Speaking] It’s great to be here! Hi everyone, Annabel here from TUSD. I am thrilled to be doing this AMA with you. As mentioned earlier, I'm the Director of Marketing and Partnership for TrueUSD and have been with the team since 2020. It’s been exciting to see TUSD grow in DeFi, and am especially stoked over our partnership with Alpaca!
Thanks, Annabel. We will now ask you a series of questions we gathered before AMA.
[Drop a series of questions. When you finish your answer, please send a sticker. Once you send a sticker, I will move on to the next questions.
- TUSD was recently added to Alpaca. Can you please give us an introduction on TUSD?
TrueUSD (TUSD) is the first independently-verified digital asset redeemable 1-for-1 in US Dollars. The multichain stablecoin uses various banks, escrow accounts, and third-party attestations to reduce counterparty risk, provide transparency, and prevent fraud.
Each TUSD token is fully collateralized and attested live on-chain, now moving billions in monthly trade volume across over 100 global trading partners. Liquidity is offered on numerous leading exchanges, DeFi protocols, and is supported by major OTC desks worldwide with a reach to international customers in over 120 countries. TUSD also supports nearly instant minting and redemption speeds with financial partners including Signet by Signature Bank, the Silvergate Exchange Network (SEN) and PrimeX by PrimeTrust.
Sounds like TUSD is taking fundamental roles to help individuals and institutions to expand their exposure to DeFi.
- We already know what TUSD is as it was just explained to us, but what lies behind the stablecoin? What makes it one of the leading stablecoins today?
One point we are very proud to have in common with Alpaca is our rigorous choice of partnerships. TUSD works with the top players in their fields to ensure we provide the most transparent and convenient user experience to TUSD holders.
- Banks, OTC
TrueUSD works with various partners, the first ones being banks and OTCs . From the start, TUSD has worked with top accounting firms to verify that the funds pegged are always held at a 1:1 ratio. For all of the real-time audits, TrueUSD works with Armanino, a top 20 accounting firm in the US. You can find our real-time attestation by clicking the link: https://real-time-attest.trustexplorer.io/truecurrencies
TrueUSD (TUSD) is the first independently-verified digital asset redeemable 1-for-1 for US Dollars. TUSD also supports nearly instant minting and redemption speeds with four renowned financial partners.
- First Digital,
- Prime Trust,
- Silvergate Bank,
- Signature Bank.
Most recently, we have a new banking partner in Signature Bank through integration with its blockchain-based payment platform Signet, which means there is an additional real-time settlement option for TUSD users and holders.
Following the stablecoin Code of Ethics, every token will also have the equivalent fiat value stored in the bank to back it. TUSD uses various banks, escrow accounts, and third-party attestations to reduce counterparty risk, provide transparency, and prevent fraud.
TUSD is also part of a comprehensive ecosystem that includes over 100 global trading partners, 20 top strategic investment institutions and many partner institutions covering lending and security. TUSD holders can buy and sell on platforms such as Binance, Huobi, Bittrex etc. Putting this into numbers, TUSD grew by over $1 billion since May 2021, positioning itself in the leading stablecoins invested in.
- DeFi partners
TUSD is also accessible on over 30 DeFi platforms across multiple blockchains such as AAVE, Compound，Maker, Alpaca, JustLend etc. By participating in pioneering DeFi projects, TUSD holders can lend, mine, trade and borrow on top of benefit from high returns.
- Recently Alpaca added TUSD to the lending platform. What are the strengths compared to the other stable coins?
We are very proud to be added to the Alpaca ecosystem and are grateful for the trust from the Alpaca team and community. Let’s have a look in the paragraphs below at the competitive advantages TUSD has to offer:
- TUSD is compliant with all relevant legislation.
TUSD stays compliant by means of KYC and AML, among others, and will even review users’ individual transactions to reduce risk.
- TUSD continues to improve its transparency with the launch of a real-time audit platform.
We have partnered with Armanino, one of the top 25 largest independent accounting firms in the US, since March 2019. Users can view the real-time data of TUSD at any time on the official website, which is submitted by Armanino independently and verified by a third party. The upgrade from monthly audit reports to minute-by-minute data updates has increased the transparency of TUSD.
- TrueUSD team has no access to funds in custody, nor will it be involved in the allocation of the funds.
Users who want to purchase TUSD from the official website must first send USD along with the receiving address to the trust company. After receiving the money, the trust company will send an execution command to the smart contract, which will then deposit TUSD directly to the user’s wallet. All funds will be supervised by the trust company. TUSD team has no access to funds in custody, nor will it be involved in the allocation of the funds, which fully ensures the security of users’ assets. Each TUSD represents a redeemable receipt of $1 in the custodial account, the beneficiary of which is the TUSD holder. Corresponding TUSD will be burned when USD is redeemed to ensure the 1:1 exchange rate between the TUSD in circulation and the USD in custodial accounts.
- What can I do with TUSD on Alpaca?
Since July 15th, TUSD has been listed on Alpaca, and Alpaca fans can earn by lending or borrowing TUSD on Alpaca Finance.
Lending & Staking TUSD:
On Alpaca, lenders can earn interest from the amount borrowed out of the $TUSD they deposit. Currently, the $TUSD lend pool TVL is up to 20M with 2.91% APY, more or less.
After depositing $TUSD on the Lend page, $TUSD holders will also be able to receive $ALPACA rewards by staking ibTUSD. ibTUSD APY is displayed as 4.41% in 30 $ALPACA allocation points and will rise to 75 $ALPACA allocation points, meaning the APY will jump to around 11%.
Leveraged Borrowing TUSD:
By borrowing TUSD to leveraged farm TUSD-BUSD paris and CAKE single-asset pools, you’ll receive higher Yield Farming rewards from Pancakeswap. As we can see, the APY of CAKE pool is 190% but the TUSD’s lending interest is only 9.09% in 2x leverage which means you can receive high rewards in CAKE by leveraging the borrowing feature.
If you leveraged a yield farm above 1x, you’ll also receive ALPACA rewards. We’ll be allocating 10 reward points (~0.07 ALPACA/block based on current emission rate) to leveraged farmers who borrow TUSD.
The project in the near future is to continue creating more opportunities for leverage yield farming on TUSD pairs. The TrueUSD and Alpaca Finance team will keep on working together to develop those together.
- Do you want to share some of the accomplishments that you achieved in the last half-year with the Alpaca fans?
Of course, you know we have done a lot in the last few months! It’s been exciting to see how TUSD has grown with multiple public chain integrations, being added to more DeFi platforms, and the steady but rapid market cap growth, all in half a year.
TUSD has been deployed on Ethereum, Avalanche, TRON, Binance chain, and BSC. We are also working on a new program hand in hand with HECO, so stay tuned for news on that!
- New listings in DeFi industry
TUSD has integrated deeply with pioneering DeFi projects in the major blockchain ecosystem. TUSD has trading pairs on decentralized exchanges with trading fee returns on Curve and PancakeSwap and Ellipsis. Also, to provide more ways for users to obtain TUSD, it has been added to top lending platforms like Compound and AAVE on Ethereum, and JustLend on TRON. Furthermore, the high yield return of TUSD farming on various projects should be highlighted, like leveraged yield farming at ALPACA Finance.
- Market Cap
TUSD has seen quite a few accomplishments in the last 6 months. TUSD holders have observed a strong and steady growth since TUSD’s launch until the terrific jump at the beginning of May, launching TUSD in the leading ranks of stablecoins to trade. To put this in numbers, the market cap jumped from over $300 Million to $1.2 Billion. Additionally, TUSD reached its highest market cap so far with $1.7 billion at the beginning of June.
That’s great. The team at Alpaca is also very happy to be able to bring more earning opportunities to our users from this collaboration with an independently verified stablecoin like TUSD
- What’s your next big plan on DeFi？
As we have expanded TUSD applications on DeFi projects mentioned above, our effort in this direction will continue. We are going to be focusing on the trending ecosystem including Ethereum and Binance Smart Chain. HECO is also an area we are currently exploring and expecting to see progress from in the near future. We will of course update our community on all social media as soon as we have news, so don’t forget to follow us! Here is our Twitter: https://twitter.com/tusd_official
The goal of TUSD is to keep evolving, we do so by of course keeping ourselves updated on the popular ecosystems, emerging new platforms as well as the latest and most lucrative partnerships available for our community to profit from! We want to prove that on top of our high standards in transparency and high-quality customer service, TUSD holders can also benefit from the best options and rewards there are in the industry.
- What do you think of the BSC ecosystem? And why do you enjoy partnering with Alpaca？
Compared with Ethereum, BSC has the capacity to handle high volume and also provides higher transaction efficiency and lower transaction costs. Based on Binance.com, the exchange can introduce funds and users to BSC which ensure the liquidity and utilization of the DeFi platforms.
TUSD has been listed on Binance.com as a base currency since the early stages of its development, with a lot of TUSD trading pairs, such as BTC-TUSD, BCH-TUSD, ADA-TUSD, TRX-TUSD etc. One of the main reasons for launching TUSD on BSC is the fact that BinanceSmartChain has a very high-quality asset portfolio and high volume.
TUSD’s market cap is $1.26B, and it provides 810M of liquidity on BSC, which accounts for approximately 70% of the total market cap.
When we were planning to launch on BSC, we were definitely looking for strong partners and Alpaca stood out as a top 6 BSC project in terms of TVL. To us, it also appeared like Alpaca plays an important role in the BSC ecosystem by solving the problem of capital inefficiency in DeFi lending platforms.
What’s more, Alpaca is very professional in contract security. Alpaca has a 24h Timelock, 9 audits, and other security mechanisms. They’ve also integrated Chainlink and built their own Oracle Guard system to prevent price manipulation and protect user funds from flash liquidations.
Last but not least, Alpaca offers a high APY to users. For example, if you like farming CAKE on Pancakeswap, it would be 95% APY, but APY will jump to 358% through Alpaca with 2.5x leverage.
As for working with Alpaca, this is an opportunity for TUSD users to earn higher yields through a leveraged product, which is unavailable through typical yield farming.
- What’s your view on the future stablecoin?
The circulation and active address number for not only TUSD but Stable coins, in general, have increased dramatically in the last year with billions of dollars in monthly transaction volume. We know for a fact that cryptocurrency and stablecoin simplify the exchange of money, thus, it would be useful to see a change in the use of when it comes to business on an international level. This means that the development needs to go hand in hand with the evolution of regulations along with the steady growth of transparency within the different partnerships within and outside of the blockchain industry.
We plan to provide users with more usage scenarios and a better user experience by building infrastructure and obtaining support from acceptance dealers. We are working on liquidity and market depth as well as gradually increasing cooperation with offline banks so TUSD can be more connected with the real commerce world.
- You achieved a very symbolic milestone of being supported by 148 exchanges worldwide, with a daily trading volume of $65.4Mn. What are the key factors to this success? What is to be expected from TrueUSD in the near future?
As we’ve mentioned above, the transparency and safety of TUSD have been proved by its everlasting recognition among cryptocurrency communities and users. The fluent minting and redemption user experience and abundant trading pairs on leading exchanges make it easy for users to obtain TUSD. Also, TUSD is one of the leading stablecoins catching the opportunity of the DeFi trend which makes TUSD holders benefit from partnerships and earn from them.
Additionally, TUSD is led and advised by a dynamic team from a range of complementary backgrounds including those with extensive experience from reputable financial institutions, renowned IT firms and dynamic blockchain entrepreneurs including Rafael Cosman and Justin Sun acting as advisors.
Of course, we want to continue providing high-standard transparency for TUSD holders, but we also keep working with various partners as we have mentioned in the previous questions. We are looking to build more in-depth partnerships and integrate with wallets, exchanges and other companies. Once again, we make a point to update our community every step of the way so make sure to stay informed by following our Twitter account : https://twitter.com/tusd_official
Thank you very much, Annabel! It is a fruitful time to know about TUSD. These are pre-selected questions we have prepared.
But, You know this is not the end, right? Everyone here can get an exclusive NFT today that is only for you all! I will drop a form link to write in your BEP-20/BSC wallet address for the NFT.
This will only be open for 3 minutes. So please be ready.
I hope you enjoyed your time, and hope that everyone in the audience has now a better understanding of TUSD.
Any Last words you would like to give us Annabel?
[Annabel G. Speaking] Thanks everyone, and thank you Jopaca. It was great to be here!