TrueUSD

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This article was considered for deletion at Wikipedia on August 29 2019. This is a backup of Wikipedia:TrueUSD. All of its AfDs can be found at Wikipedia:Special:PrefixIndex/Wikipedia:Articles_for_deletion/TrueUSD, the first at Wikipedia:Wikipedia:Articles_for_deletion/TrueUSD. Purge

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Template:Unreliable sources Template:COI TrueUSD (TUSD) is a stablecoin cryptocurrency pegged to 1 USD and fully backed by collateral held in escrow by multiple third-party trust companies.[1][2] TrueUSD was launched by TrustToken on 5 March 2018 on Bittrex[3][4] and quickly grew because of transparency[5]. The circulating supply is backed by multiple third-party trust companies holding an equal amount of funds in escrow. The funds held in escrow can be monitored in real-time[6][7] and are verified by an independent third-party accountant that publishes monthly attestation reports. [8][9]

ERC20 Token

TrueUSD on Ethereum is an ERC20 standard token that supports several additional features that simplify token management and reduce cost of use. The smart contract code is open-source[10].

One-Click Redemptions

Ethereum users can register redemption addresses which correspond to their bank account. Verified users send TUSD tokens to their personal redemption address from any wallet and US dollars are automatically wired to their bank account.[11][6]

Autosweep

Ethereum users can register 220 Autosweep addresses, which automatically forward their balances to their recipient[12][13]. This eliminates network fees for vendors or exchanges accepting payments or deposits from their customers.

GasBoost

TrueUSD uses less gas than all other ERC20 tokens on Ethereum because of GasBoost, which utilizes gas refunds from SSTORE and SELFDESTRUCT[14].

BEP2 Token

TrueUSD on Binance Chain is a BEP2 standard token listed on Binance DEX. TrustToken has promised support for atomic swap between the BEP2 and ERC20 versions of TrueUSD.

External Links

References

  1. TrustToken (2019-06-17). "What is TrueUSD (TUSD)? Overview & FAQ" (in en). https://blog.trusttoken.com/trueusd-faq-18dbc563fb67. 
  2. Geron, Tomio. "Why Stablecoins Stand Out in the Cryptocurrency World" (in en-US). https://www.wsj.com/articles/why-stablecoins-stand-out-in-the-cryptocurrency-world-11560218460. 
  3. "TrueUSD (TUSD) price, rating, news, and analysis - Binance Info" (in en). https://info.binance.com/. 
  4. Forbes: The rise of stablecoins continues to grow in volatile crypto market
  5. Rapoza, Kenneth (2018-06-21). "Fiat-Backed Cryptos Wooing Money Managers And Undercutting Other Stable Coins". https://www.forbes.com/sites/kenrapoza/2018/06/21/fiat-backed-cryptos-wooing-money-managers-and-undercutting-other-stable-coins/. 
  6. 6.0 6.1 CoinDesk: TrueUSD Stablecoin soon to have real-time monitoring of dollar backing
  7. "TrustToken to allow real-time monitoring of TrueUSD stablecoin" (in en-US). https://www.theblockcrypto.com/tiny/trusttoken-to-allow-real-time-monitoring-of-trueusd-stablecoin/. 
  8. Alexandre, Ana (2019-04-09). "TrueUSD Audit Shows Full US Dollar Backing" (in en). https://cointelegraph.com/news/trueusd-audit-shows-full-us-dollar-backing. 
  9. Wolfson, Rachel (2019-03-29). "An explanation for the rise of 'stable coins' as a low-volatility cryptocurrency" (in en). https://www.forbes.com/sites/rachelwolfson/2018/03/29/an-explanation-for-the-rise-of-stable-coins-as-a-low-volatility-cryptocurrency/. 
  10. Github: TrueCurrency Smart Contracts
  11. TrustToken (2019-03-05). "TrustToken Introduces Real-Time Confirmation of Funds and 1-Click Redemptions for TrueUSD" (in en). https://blog.trusttoken.com/realtime-f70ec4dce1e2. 
  12. Introducing TrueUSD AutoSweep — An Easy Wallet Management Feature for Exchanges and OTC Desks
  13. CoinDesk: Stablecoin Issuer TrustToken Adds Feature to Ease Wallet Management
  14. GasBoost: How TUSD uses 15+% less gas than every other Stablecoin