Hello, everyone from the Compound community. I am from the TrueUSD team. Our team would like to propose listing TrueUSD on Compound.finance.
We prepared 100,000 COMP and are ready to create the proposal at any time. However, we would love to hear the feedback from the community before we take the action. We also believe that compliance and transparency, the core value of TUSD will shine in the Defi realm with the help of the prosperity of the Compound ecosystem.
We need your support to help us to get listed!
TrueUSD (TUSD) is the first independently-verified digital asset redeemable 1-for-1 for US Dollars. The ERC20 stablecoin uses multiple banks, escrow accounts, and third-party attestations to reduce counterparty risk, provide transparency, and prevent fraud.
TUSD offers liquidity on dozens of leading exchanges, DeFi protocols, and is supported by major OTC desks. TUSD also supports nearly instant minting and redemption speeds through the Silvergate Exchange Network (SEN) and PrimeX by PrimeTrust.
TrueUSD has built a bank-level compliance department that in unison with TrueCoins escrow partners ensures that only approved users can mint or redeem TrueUSD.
Blockchain Type: ERC20, Avalanche, Binance Chain
TrueUSD in DeFi
Highly compliant and transparent stablecoin TUSD has now been listed on multiple DeFi platforms. Not only does TUSD have a high ranking among stablecoins in many rating agencies, but also in APR ranking on DeFi platforms.
On Curve.fi, there is a TUSD Metapool, by staking DAI, USDT, USDC, and TUSD, users can enjoy trading fee share and CRV mining rewards. The reward is currently around 30% and will reach 40% with an accelerator. On Uniswap, by providing liquidity to USD/ETH, users can gain a 17% APR. It can be a good choice when it comes to providing liquidity on Uniswap. As for SushiSwap, users can enjoy both trading fees and SUSHI mining rewards by providing liquidity of TUSD/wETH and the APY is up to 45.08% on Onsen.
The details for TUSD on Compound are as follow:
Set collateral factor as 0%
Set reserve factor as 7.5%
Set TUSD with unlimited borrow cap.
updates the Compound price feed to peg TUSD to $1
Using JumpRateModelV2 as the interest rate model.
cTUSD contract has been deployed at 0x12392F67bdf24faE0AF363c24aC620a2f67DAd86
Change to a new oracle with TUSD support
- Add TUSD into the market
- Set reserve factor of cTUSD as 7.5%
If you like to know more about TUSD, you can find us here
Telegram EN: Telegram: Contact @TUSDofficial_EN
Telegram CN: [Telegram: Contact @TUSDofficial_CN