Project Overview
TrueUSD (TUSD) is a platform for tokenizing currency calls and real assets. Legally protected U.S. dollars are offered to token holders and one TrueUSD token is used for every $1. TrueUSD provides reliable trading tools that enable consumers and businesses to use currency exchange as a medium.
Trueusd (TUSD) is similar to the current USDT and belongs to a kind of "stable currency". The TrustToken startup supported by the Stanford Venture Fund has launched the cryptocurrency TrueUSD that takes into account both transparency and mystery. The first USD stable currency with a high level of trust. By establishing a cooperative network with banks and trusts, the company guarantees that their tokens will maintain the stability of the currency.
Unlike Tether, which controversially insists on bank account audits, TrueUSD offers regular audits, providing holders with strong legal protections through increased KYC (customer background checks) and anti-money laundering (AML) checks There are other ways to maintain compliance, and even review the user's single transaction to reduce risk, but this review and audit will increase additional costs while ensuring transparency.
The reason for the birth of TUSD
Before the birth of TUSD, people have frequently traded through the stable currency USDT, but due to its opaque mechanism, many shady stories are still exposed, such as The additional USDT was used to buy a large amount of BTC, which boosted the entire market. When the market was rising, currency residents needed to buy USDT at a high premium to enter. The ups and downs of USDT once reached 20%. In a sense, USDT is no longer a stable currency, because its volatility is very large, and the redemption cycle is very long. There are many hidden dangers. As a time bomb, transactions between virtual currencies need to be supported by another type of more stable and transparent currency. So TUSD was born.
The difference between USDT and USDT
Provide a more transparent stable currency choice, and provide users with a realistic guarantee of digital currency through a proprietary legal framework.
The platform also provides legal rights for token holders to keep users' accounts safe. The company itself never touches these funds — users become direct beneficiaries of these stablecoins, with direct access to credit accounts owned by banks.
Of course, the stable currency itself also has certain risks:
When the demand for stable currency increases and the currency value exceeds the anchor price, it can be adjusted by increasing the issuance or other methods;< /p>
When the demand for stablecoins declines, the project party needs to issue bonds to attract investment, that is, when the currency value falls below the anchor price, it will repurchase the excess stablecoins and wait for the currency value to return to normal However, the risk that investors need to face here is that if the stablecoin has a crisis of confidence, which leads to continuous declines, it may not be able to obtain any benefits.
With the listing of TrustToken's TUSD on Binance, competition among stable currencies will instead promote the development of the entire virtual currency market and other industries, such as lending, market forecasting, and other smart contracts that require stable currencies .
TUSD's profit
TUSD mainly relies on handling fees to create profits: handling fees are charged for purchase and redemption operations through the official website, and the rate is one thousandth of the total transaction amount ( Minimum $75), so if the amount is less than $75,000, the handling fee is not low; in addition, when transferring TUSD between Ethereum wallets, a handling fee of 7/10,000 will be charged.
