[PRESS RELEASE – Singapore, Singapore, 4th November 2021]
TrueUSD, the first independently-verified stablecoin redeemable 1-for-1 for US Dollars and early participant in DeFi, has officially announced the launch of its Fountain Incentive Plan. This plan will serve as an incubator for projects with potential by introducing $1 billion worth of TrueUSD and other digital assets to DeFi ecosystems to further empower their growth.
The project, named Fountain, to illustrate the idea of an endless flow, represents the constant injection of new impetus through the DeFi ecosystems and projects with high potential.
Thanks to the Fountain Incentive Plan, TrueUSD will fully support the ecosystems and DeFi projects of different public chains and stimulate the growth of quality projects through in-depth strategic cooperation. The TrueUSD team will also devise exclusive cooperation schemes tailored to various projects to maximize their strengths. In addition to financial support, TrueUSD will regularly organize various activities to foster full cooperation among ecosystems. Projects that wish to join the TrueUSD ecosystem will also benefit from the resources offered by TrueUSD’s strategic partners, paving the way for their entry to the DeFi 3.0 era.
In addition to lending protocols, decentralized trading platforms also sit at the core of TrueUSD’s development roadmap. As of date, the TVL of TrueUSD in Curve has exceeded $41.5 million and has reached $79.6 million in PancakeSwap, bringing substantial and stable liquidity to protocols. On the TRON-based stablecoin swap platform SUN.io, TrueUSD performed equally well, with its TVL exceeding $180 million, accounting for 34% of the platform’s total value locked.
According to the latest statistics, the Total Value Locked (TVL) of TrueUSD has reached $88.7 million on Compound and approximately $83,4 million on the AAVE protocol. Lending protocols and decentralized trading platforms are the core elements of TrueUSD’s development roadmap. The TVL of TrueUSD has exceeded $41.5 million on Curves and reached $79.6 million on PancakeSwap, bringing substantial and stable liquidity to protocols. Finally, TrueUSD has performed equally well on the TRON-based stablecoin swap platform with a TVL exceeding $180 million. TrueUSD, therefore, accounts for over 34% of the platform’s Total Value Locked (TVL).,
Following the Fountain Incentive Plan, TrueUSD will also join hands with other DeFi protocols to provide needed liquidity.
Performance of TrueUSD across DeFi Projects (October 25)
Aside from our existing partners, we warmly welcome the participation of premium projects from other chains to join us in taking the growth of our DeFi ecosystem to the next level!
Launched in January 2018, TrueUSD (TUSD) is the first digital asset with live on-chain attestations by independent third-party institutions and the first stablecoin backed 1:1 with the U.S. dollar. It has partnerships with the licensed US-based banks, Silvergate Bank and Signature Bank, for instant deposits and withdrawals. It also leverages the Silvergate Exchange Network (SEN) and PrimeX by PrimeTrust to deliver near-instant token minting and redemption services.
TrueUSD provides its customers with a low-risk digital asset by ensuring transparency through partnerships with banks and auditing firms as custodial accounts and third-party verification of funds. It is audited real-time by Armanino, one of the largest US-based accounting firms, to ensure the 1:1 ratio of USD reserves to circulating token supply and the 100% collateral rate. Users can access the publicly available audit results via the official website trueusd.com at any time.
Join the Fountain Incentive Plan by clicking the link below:
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