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TrueUSD (TUSD)

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TrueUSD (TUSD) is a stablecoin built on the widely used ERC-20 token standard, designed to be compatible with various blockchain networks and decentralized applications (DApps). It serves as a bridge between the world of cryptocurrencies and traditional fiat currencies, offering users the ability to enter and exit crypto markets without the delays associated with traditional bank settlements.

TUSD allows investors to trade directly for other cryptocurrencies, all while mitigating the inherent volatility of cryptocurrencies. This stability is achieved by pegging the value of TUSD to the US dollar, making it a secure and reliable medium for transactions and investments within the crypto space.

Operating on the Ethereum blockchain, TrueUSD leverages smart contracts to facilitate the issuance and redemption of tokenized US dollars. When a user acquires TUSD, the underlying smart contract automatically generates and issues an equivalent amount of TUSD, adding it to the circulating supply of the token. Conversely, when a user sells their TUSD for USD, the smart contract promptly eliminates the tokens by burning them, while crediting the user with an equivalent amount of US dollars.

One of the key advantages of using TUSD is its fee-free transactions for purchasing or redeeming the stablecoin. The company behind TrueUSD earns its income through interest accrued on the US dollars held in its accounts, rather than charging users for transactions.

In order to enhance transparency, risk management, and security, TrueUSD implemented automated minting control using Chainlink’s Proof of Reserve (PoR) in February 2023. This made TUSD the first USD-pegged stablecoin to adopt PoR, enabling automated validation of USD reserves to ensure proper collateralization.

TrueUSD is also compatible with multiple blockchain networks, including Ethereum, Aurora, Optimism, and TRON. This cross-chain compatibility allows users to seamlessly transfer and utilize TUSD across different platforms, thereby increasing its utility and accessibility within the broader blockchain ecosystem.

With its focus on stability, security, and cross-chain compatibility, TrueUSD aims to provide users with a seamless and reliable means of transacting between the worlds of cryptocurrency and fiat currency.

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