Shayne Hooper [Fluidity]
Hey there Fluidity Family, we have something very special for you today. Our friend Alison is here from TrueUSD, to introduce us to how TrueUSD is making the crypto space a safer place to be!
Welcome Alison, how are you today?
Alison Alexandre [TUSD]
Hi Shayne, hi everyone. I’m doing great, very excited to be here today !
Shayne Hooper [Fluidity]
It really is lovely to have you guys here, I know our team has been excited for this one!
Please Alison, Can you please first explain your project to our users?
Alison Alexandre [TUSD]
- Can you first explain your project to our users ?
1.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 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.
Shayne Hooper [Fluidity]
Fully collateralized!? Same as Fluidity! Wow that’s great!!
What makes TUSD today one of the leading stablecoins? How do you ensure the transparency and security of it to your users?
Alison Alexandre [TUSD]
2. What makes TUSD today one of the leading stablecoins ? How do you ensure the transparency and security of it to your users ?
One point we are very proud to showcase 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.
a. TUSD is compliant with all relevant legislations.
TUSD stays compliant by means of KYC and AML, among others, and will even review users’ individual transactions to reduce risk.
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 an integration with its blockchain-based payment platform Signet, which means there is an additional real-time settlement option for TUSD users and holders.
In accordance with 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.
b. TUSD continues to improve it’s transparency with its 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 are 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. https://real-time-attest.trustexplorer.io/truecurrencies
c. TUSD’s funds in custody are secure and not accessible by the team.
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. The 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.
Shayne Hooper [Fluidity]
We know that TUSD is evolving quite fast, can you please give us an idea of your achievements so far?
Alison Alexandre [TUSD]
3. We know that TUSD is evolving quite fast, can you give us an idea of the achievements so far ?
Yes of course! We are proud to report that we’ve had a steady growth all year long. It is exciting to see how TUSD has grown with multiple public chain integragrations as well as being added to new DeFi platforms consistently throughout the year!
a. Multiple public chains.
In the last year, TUSD has been deployed on Ethereum, Avalanche, BSC, HECO, Fantom and TRON. We’ve also managed to have $300 million circulating supply on that last one along with over 300k unique addresses. We are also currently working with Polygon so we should have more news coming about this very soon!
b. Exchanges.
TUSD is part of a comprehensive ecosystem which includes over 100 global trading partners, 20 top strategic investment institutions and multiple partner institutions covering lending and security. TUSD holders can buy and sell on platforms such as Binance, Huobi, Bittred etc. Putting this into numbers, TUSD grew by over $1 billion since May 2021, positioning itself in the leading stablecoins invested in.
c. DeFi.
When it comes to DeFi, TUSD is 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.
Shayne Hooper [Fluidity]
4. You have launched not so long ago the Fountain Incentive, could you explain a bit what it is and how projects can apply for it?
Alison Alexandre [TUSD]
Yes sure, this is a scheme that is used as an incubator for projects with potential by introducing $1 billion worth of TrueUSD and other digital assets to DeFi ecosystems.
TrueUSD will provide full support to the ecosystems and DeFi projects of different public chains and stimulate the growth of quality projects through in-depth strategic cooperation. We also devise exclusive cooperation schemes tailored to different projects to maximize their strengths. In addition to financial support, TrueUSD will organize a variety of activities on a regular basis to foster full cooperation among ecosystems. Projects that wish to join the TrueUSD ecosystem can also benefit from the resources offered by TrueUSD’s strategic partners, creating a full synergy.
In addition to funding support from TrueUSD, major developers and supporters of the ecosystem are also actively engaged in the plan. They provide financial support and other resources for quality projects, paving the way for their entry to the DeFi 2.0 era.
You can send your application for the Program by clicking this link: https://docs.google.com/forms/d/e/1FAIpQLSdXsQMrf6WevmscEzUB55aLKcLZKN2_hmntI2OPNITjX4bCpA/viewform?usp=sf_link
Shayne Hooper [Fluidity]
5. What should the community expect from TrueUSD in the future? Any big plans we can look forward to?
Alison Alexandre [TUSD]
In the near future, we aim to keep on expanding with DeFi projects and are going to focus on ecosystems that show potential and are currently trending. As you could see with the Fountain Incentive Plan, we are always looking to evolve and develop and we do that by keeping ourselves updated on what is popular as well as what is reflected in the feedback from our users. We want to work with emerging new platforms but also want to give our users possible partnerships they can profit from! After all, they are the reason why we work so hard every day.
At TrueUSD we want to be a standard for transparency, security and active benefit for our community!
Shayne Hooper [Fluidity]
Thank you so much Alison. It has already been such a pleasure getting to know you guys. We have really appreciated the support you have shown Fluidity and we want to thank you for sharing TrueUSD and the Fountain Incentive Plan with our users.
We know your time is precious so I’ll stop the questions there.
I am really looking forward to our next AMA where we get an opportunity to share how Fluidity is building a new fluid economy!
Alison Alexandre [TUSD]
Yes me too ! We are glad to be working with you and I look forward to hosting the next AMA on our channel with you guys! 😁 it’s going to be a great one ! If anyone is interested in checking out TUSD, feel free to go to our twitter account tusd_official for more info about the next AMA and TUSD in general ! 👍🏼 Once again thank you Shayne and thank you Fluidity Family !
