TrueUSD’s 2021 in Review: Partner with Public Chain Ecosystems and Builder of Compliant, Transparent Finance

Singapore, Singapore–(Newsfile Corp. – January 24, 2022) – TrueUSD announces its 2021 review. The stablecoin market experienced explosive growth in 2021. The total supply of U.S. dollar-pegged stablecoins soared to 388%, from $29 billion at the beginning of the year to more than $140 billion. Stablecoin usage also reached an all-time high: the adjusted annual trading volume of stablecoins exceeded $5 trillion in 2021, a year-on-year increase of over 370% compared to that in 2020.

As a stablecoin pegged to the U.S. dollar, TrueUSD boasted a supply to the tune of $1.5 billion in 2021 at its peak. It also made breakthroughs in multi-chain deployment, partnerships with banks and DeFi ecosystem projects, and other aspects. Let’s take a look back at TrueUSD’s achievements in 2021.

I. Partnership with banks: 24/7 minting and redemption service

After entering into a partnership in 2021 with Silvergate Bank, a licensed U.S.-based bank, TrueUSD leveraged the Silvergate Exchange Network (SEN) to deliver near-instant token minting and redemption services.

TrueUSD also collaborated with Signature Bank to realize instant deposit and withdrawal by integrating its stablecoin TUSD into Signature Bank’s Signet, a blockchain-based digital payment platform through which TUSD users have access to real-time payment and settlement services.

II. Multi-chain deployment: a compliant, transparent USD-pegged stablecoin for public chains and their DeFi ecosystems

Throughout 2021 “DeFi” was a keyword for TrueUSD. It partnered with major public chains, including TRON, Avalanche, Fantom, and Polygon, to introduce more transparency and stability to the world of public chains and their DeFi ecosystems while allowing TUSD holders to have more investment options that bring higher earnings.

Among TrueUSD’s DeFi partners, PancakeSwap and Balancer (Polygon), which offered liquidity incentives, was the most popular, and the Gold Shovel Mining campaign with HECO also received significant attention. TUSD holders could earn easy rewards by providing liquidity to LP pools and participating in TUSD lending. Moreover, it is worth noting that TrueUSD invested 1 million TUSD into its partnership with PancakeSwap as bonuses that added to users’ earnings.

In addition to its partnerships, TrustToken also introduced the collateral-free lending product TrueFi, one of the first products that allow users who have passed credit model-based checks to borrow TUSD with no collateral. TrustToken, the operator of the lending protocol TrueFi and stablecoin TUSD, raised a total of $12.5 million, with BlockTower Capital, Andreessen Horowitz (a16z), and Alameda Research leading the round by purchasing TrueFi’s native token TRU.

III. Collaboration with exchanges: mounting support for TUSD holders

TrueUSD has established partnerships with more than 100 exchanges, including larger well-known exchanges such as Binance, Huobi, and Poloniex.

Among its partner exchanges, Binance, FTX, and Bittrex have supported the deposits and withdrawals of ERC20-TUSD, while those of TRC20-TUSD are available on Huobi, Poloniex, Gate.io, and MEXC. As more users opt for stablecoins as safe-haven assets and a payment instrument, TrueUSD has continued to expand cooperation with crypto exchanges, enabling TUSD deposits and withdrawals for a broader audience. This has offered users greater convenience and more options.

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Besides, Crypto.com Exchange announced that users can now swap between USDC, BUSD, GUSD, and TUSD at a 1:1 ratio with zero transaction fees. This feature allows users to obtain TUSD more easily.

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IV. TUSD activities: stablecoins as top picks for safe-haven seekers

To survive in a volatile market requires safe-haven assets, and stablecoins become the best option. Grasping the market trend, TrueUSD held asset management activities such as Huobi Savings and HODL on Huobi, Bibox, and Poloniex, providing users with easy, flexible, and high-yield giveaway campaigns and additional rewards. These campaigns won huge attention from users upon rolling out and brought them generous rewards.

V. OTC markets: higher trading flexibility

It is well known that OTC trading has a significant advantage in terms of trading flexibility and is a powerful complement to the market. Furthermore, on September 26, 2021, crypto payment processor Simplex integrated stablecoin TrueUSD (TUSD) with fiat on- and off-ramp services, allowing users to use a debit card or a credit card to purchase TUSD via Simplex, which further enhanced the flexibility of trading.

VI. A new record high: TrueUSD’s market cap topping $1.5 billion

2021 witnessed TrueUSD’s remarkable progress in public chain, DeFi, and exchange cooperation, which fueled the sharp increase of its market cap. Coinmarketcap’s stats show that the market cap of TrueUSD hit $1.5 billion on June 10; the number of TUSD holder addresses passed the 400K mark on December 27. These figures speak volumes to TrueUSD’s achievements, made possible with community users’ continued support.

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VII. TrueUSD’s mascot: TrueBull made its debut

On October 25, TrueBull, TrueUSD’s mascot, made its debut. As an IP merch to engage more users to learn about TrueUSD, the lovely TrueBull also represents our bull run expectations.

TrueUSD also announced the launch of the $1 billion Fountain Incentive Program to turbocharge the growth of various DeFi ecosystems. The scheme will be used to incubate projects with potential by introducing TrueUSD and other digital assets worth $1 billion to DeFi ecosystems, further powering the growth of ecosystems. Automated market-making protocol Balancer (Polygon), listed TUSD, where it is the most profitable TUSD stablecoin pool. Therefore, the launch of the incentive pools of TrueUSD will surely bring more traffic to Polygon and Balancer while offering users in the ecosystem more stablecoin options.

Besides, TrueUSD held multiple AMAs in Telegram communities with its partners such as FilDA and Polygon, which is a sweet spot to help users better understand TrueUSD and clarify their questions.

In 2021, TrueUSD became a heavyweight in the blockchain industry with its edges in stability, transparency, and compliance. Moreover, its exploration of different public-chain ecosystems and efforts in the DeFi field have prepared TrueUSD for a glittering 2022.

In 2022, TrueUSD will closely follow the industry trend by giving full play to its strengths. While scaling up cooperation with major exchanges, public chains, and their DeFi ecosystems, we will explore more innovative use cases of TrueUSD to offer greater value for users.

Website: http://trueusd.com/
Twitter: http://twitter.com/tusd_official
Medium: http://trueusd.medium.com/
Telegram (EN): @TUSDofficial_EN
Telegram (CN): @TUSDofficial_CN

Contact
Peggy Yue
peggy@trueusd.com

To view the source version of this press release, please visit http://www.newsfilecorp.com/release/111410

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