TrueUSD Listing Proposal [Stay tuned]

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!

Overview

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.

Token

  • Symbol: TUSD

  • 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.

Proposal Details

The details for TUSD on Compound are as follow:

  1. Set collateral factor as 0%

  2. Set reserve factor as 7.5%

  3. Set TUSD with unlimited borrow cap.

  4. updates the Compound price feed to peg TUSD to $1

  5. Using JumpRateModelV2 as the interest rate model.

Contract information

  1. cTUSD contract has been deployed at 0x12392F67bdf24faE0AF363c24aC620a2f67DAd86

  2. Change to a new oracle with TUSD support

Comptroller._setPriceOracle(0x4007B71e01424b2314c020fB0344b03A7C499E1A)

  1. Add TUSD into the market

Comptroller._supportMarket(0x12392F67bdf24faE0AF363c24aC620a2f67DAd86)

  1. Set reserve factor of cTUSD as 7.5%

cTUSD._setReserveFactor(75000000000000000)

If you like to know more about TUSD, you can find us here :point_down:

Social Media

TrueUSD.Website: https://trueusd.com/

Twitter: https://twitter.com/tusd_official

Medium: https://trueusd.medium.com/

Telegram EN: Telegram: Contact @TUSDofficial_EN

Telegram CN: [Telegram: Contact @TUSDofficial_CN

](Telegram: Contact @TUSDofficial_CN)

Yours,

TrueUSD

4 Likes

What kind of tests have been done on the new oracle? Has the new token been simulated? I am seeing a lot of assets without prices currently UniswapAnchoredView | 0x4007B71e01424b2314c020fB0344b03A7C499E1A

I’m excited to see you all moving forward with this!

1 Like

Hi, Jared
The contract 0x4007B71e01424b2314c020fB0344b03A7C499E1A has been certified by Compound team
We will also discuss with the Compound team to launch the price feed of non-stable coins before it’s been completed