What is TrueUSD?
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TrueUSD is a USD backed ERC20 stablecoin that is fully guaranteed, legally protected and transparently verified by third party attesters. TrueUSD uses multiple escrow accounts to reduce counterparty risk, and to provide token holders with legal protection against misuse. TrueUSD is the first asset token built on the TrustToken platform.
Who can use TrueUSD?
We have designed the alpha version to meet the pressing needs of crypto exchanges, crypto traders and financial companies. Crypto traders and exchanges: Cryptocurrency traders want stablecoins that can be trusted to hedge against volatility, and enter the crypto market without direct exposure to BTC / ETH. Mainstream Trading: Every day people and businesses can enjoy the benefits of digital currency (faster transaction speed than ACH, global reach) without the volatility of Bitcoin. Now you can pay salaries, take out loans or buy coffee with cryptocurrencies, enabling a new economy of cryptocurrency finance applications. Emerging economies: Some emerging markets are increasingly depending on cryptocurrencies for trading. Financial institutions: Financial companies looking to get into crypto, but have reasonable objections not to put, say, $ 100 million into new algorithmic stablecoins vs. $ 100 million of "legally enforceable US dollar certificate of ownership". In alpha version of TrueUSD, redemption will be limited to a minimum of $ 1000. Anyone can use TrueUSD once they are listed on the exchange. In the TrueUSD 1.0 release, we will lower our redemption minimum to allow for a lower volume redemption. Why is this sequence? We open access gradually so that stability can be maintained from the start.
How will you maintain price stability for TrueUSD?
The price deviation between TrueUSD and USD provides an opportunity for arbitrators. As traders can always trade TrueUSD with their USD equivalent on TrueUSD.com, there will be an incentive to buy or sell TrueUSD at the wrong price on the exchange and convert on TrueUSD.com.
On which exchange will you be listed?
TrueUSD is currently listed on Binance, Bittrex, Upbit, and over 20 other exchanges.
What is the difference between TrueUSD and Tether?
We want to build a stablecoin that we will use and believe in ourselves. When you complete the KYC / AML process and transfer funds to a third party escrow account, an equivalent amount of TUSD will be printed immediately to your ethereum address. Each TUSD represents an exchangeable certificate for one US Dollar held as an escrow for the benefit of the TUSD holder. This is what it means for TrueUSD users:
Legal protection
As one of the most widely used legal means of managing other people's money, an escrow account allows regular authorization and strong legal protection for token holders.
Can be exchanged for USD
Any institution or individual with a verified TrueCoin account that passes standard KYC / AML checks can exchange TrueUSD for USD. During the current alpha version, there is a minimum of $ 1000 for redemption. This number is common for our current institutional users, and we aim to reduce this minimum for future retail users.
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