What Is TrueUSD (TUSD)?
TrueUSD is a stablecoin, which means that the TUSD price stays stable even when the crypto market fluctuates. This is the case because TrueUSD is pegged to USD at a 1:1 ratio, meaning that one TUSD token is equal to $1. TUSD is available on several chains, including Ethereum, TRON, BSC, Polygon, and many others.
Since TrueUSD's USD holdings are spread over multiple bank accounts held by various Nevada trust firms, it's subject to regulation by the Nevada Department of Business & Industry.
The primary purpose of the TrueUSD crypto asset, or any other stablecoin, is to deal with the increased liquidity of the crypto market. Since the TUSD price manages to stay stable even during periods of high fluctuation, it helps decrease the market's volatility.
Besides that, it provides investors with a plan B that they can use to exchange their holdings for TrueUSD, keeping the value stable during high crypto market fluctuations.
Note that the aforementioned stability of the TUSD price doesn't mean it doesn't fluctuate even a bit. It actually does; however, the range of the fluctuation of the TrueUSD price stays close to $1. It typically doesn't fall below $0.97 or exceed $1.02.
The Founders of TrueUSD
The company behind TrueUSD tokens is TrustToken. TrustToken is a platform for asset tokenization. It aspires to someday offer the tools needed to tokenize and conduct transactions involving real-world physical assets on blockchains in a way that is audited, governed by law, and has collateral.
The Financial Crimes Enforcement Network has TrustToken listed and overseen as a federal Money Service Business (FinCEN).
The company was founded by Rafael Cosman, Jai An, Stephen Kade, and Tory Reiss. Cosman worked for Google as a machine learning engineer prior to founding TrustToken, while Jai An worked as a data scientist for Kernel. Kade founded a company named NeuroTechX, and Reiss worked for Microsoft in business development.
How Are TrueUSD Tokens Created?
TrustToken utilizes escrow accounts. These are such type of third-party accounts that hold the deposited assets until the buyer and the seller negotiates their deal. To mitigate counterparty risk and give token holders legal protection from appropriation, TrueUSD utilizes several escrow accounts.
Whenever USD is deposited into an escrow account, new TUSD tokens are created. The equivalent amount of TrueUSD is instantly burned when a token holder converts TUSD to USD.
Thus, using smart contracts, TUSD is generated and burned automatically. This ensures that the amount in the escrow accounts is always equal to the total amount of TrueUSD in circulation. This balance also guarantees that the TrueUSD price stays within the $1 range.
These are the project's quantitative metrics of its official X account that can be used to trace regular or artificial Social activity & growth within the project.
Followers
-
Following
-
Posts count
-
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These are the project's quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project.
Subscribers
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Subreddit type
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Moderators
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These are the project's quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project.
Members
6.9K
Members: 6,906
0.09%
Title
TrueUSD | Stablecoin Community
These are the project website's metrics based on Ahrefs Rank. They're used to trace website activity & growth within the project. DR (Domain Rating) metric is a sign of the project's website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability). Organic Traffic - is a metric of how many monthly users visit the project's website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype.
Website Rating (DR)
53 / 100
1.85%
Ahrefs Rank
563,574
3.55%
Organic Traffic (mo.)
0
These are the project's quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project.
Public repos
38
Type
Organization
These are the project's quantitative metrics of its official GitHub Public Repositories that can be used to trace regular or artificial development activity, growth & popularity of the project.
Stars
320
0.00%
Watchers
33
0.00%
Forks
133
0.00%
Language
TypeScript
TrueUSD hot topics
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TrueUSD posts
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