TrueUSD

TrueUSD (TUSD) is a USD-pegged stablecoin that aims to offer a stable value in the volatile cryptocurrency market. It is fully collateralized, legally protected, and transparently verified by third-party attestations. TrueUSD is built on the Ethereum blockchain as an ERC20 token and is designed to maintain a 1:1 peg with the US dollar. The token's stability is achieved through multiple escrow accounts that reduce counterparty risk and provide legal protections against misappropriation. TrueUSD is part of the TrustToken platform, which facilitates the creation of asset-backed tokens.

• Total Supply

• : The circulating and total supply is dynamically managed to maintain the 1:1 USD peg.

• Initial Allocation

• : TrueUSD is minted upon deposit of USD in the escrow accounts and is burned when redeemed for USD, ensuring the total supply matches the real USD held in reserve.

• Purpose of the Coin

• : TrueUSD serves as a stable medium of exchange, a hedge against cryptocurrency volatility, and a trustworthy bridge between traditional fiat currencies and the cryptocurrency market.

As of today 22 December 2024, the price of TrueUSD is ₹93.31 INR, with a 24-hour trading volume of 49821491.76 USD. The market capitalization for TrueUSD is 495647520.08USD. The circulating supply is 495601552.61 TrueUSD, with the total supply also being 495601552.61 TrueUSD.

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• Stability

• : Maintains a stable value against USD, providing a haven against crypto market volatility.

• Transparency

• : Daily attestations and third-party verifications ensure transparency of reserves.

• Accessibility

• : Listed on over 100 cryptocurrency exchanges and DeFi protocols, offering high liquidity.

• Legal Protection

• : Fully collateralized and legally protected through escrow accounts.

• No Minting/Redemption Fees

• : Enhances its attractiveness for converting between USD and TUSD users.

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• Centralization Risks

• : Reliance on centralized escrow accounts and third-party attestations may introduce points of failure.

• Regulatory Risks

• : As a USD-pegged stablecoin, it may face scrutiny and regulatory challenges.

• Market Adoption

• : Competing with other stablecoins for market share.

• Redemption Minimums

• : Initial versions had redemption minimums, potentially limiting smallholders'smallholders' accessibility.

• Smart Contract Vulnerabilities

• : As an ERC20 token, it is subject to risks associated with intelligent contract flaws.

• Market Stability

• : Offers a stable investment option amidst the volatility of the crypto market.

• High Liquidity

• : Easily tradable on numerous platforms, ensuring quick conversions between TUSD and other currencies.

• Transparency and Trust

• : Regular attestations and legal protections build user trust.

• Utility in Payments and Settlements

• : Can be used for stable transactions, salaries, and loans in the crypto ecosystem.

• No Conversion Fees

• : This makes it an economical choice for moving in and out of cryptocurrency positions.

• First USD-Pegged Stablecoin with Daily Attestations

• : Sets a high standard for transparency and trust.

• Legal Framework and Protections

• : Unique legal and escrow structure providing robust user protections.

• Broad Accessibility and Utility

• : Supported on various exchanges and usable for multiple financial applications.

TrueUSD addresses the need for a stable, transparent, and legally protected digital currency that can serve as a reliable medium of exchange and store value in the cryptocurrency market. It solves the problem of volatility and trust, making digital currencies more accessible and usable for everyday transactions and financial applications.

The TrueUSD team comes from prestigious backgrounds, including Stanford, UC Berkeley, Palantir, and Google. The project has received backing from notable entities such as Founders Fund Angel, Stanford-StartX, and Blocktower Capital. The team has developed a legal framework for collateralized cryptocurrencies in collaboration with WilmerHale and White & Case, ensuring TrueUSD's robust legal and compliance structure.

The available sources do not explicitly provide the initial offering details, including the ICO price and allocated units. TrueUSD operates on a model where tokens are minted and burned in response to USD deposits and redemptions, maintaining a stable 1:1 value with the US dollar.

• Regulatory Changes

• : Potential for regulatory actions affecting stablecoin operations.

• Centralization Risks

• : Dependence on centralized entities for escrow and attestations.

• Competitive Market

• : The presence of other stablecoins may affect adoption and value.

• Liquidity Risks

• : While generally liquid, market conditions can affect trading volumes and accessibility.

• Technical Risks

• : Vulnerabilities in smart contracts or blockchain infrastructure could impact operations.

The TrueUSD whitepaper outlines the design, implementation, and legal framework of the TrueUSD stablecoin. It emphasizes the token's full collateralization, legal protections, and transparency through third-party attestations. TrueUSD aims to provide a stable, reliable, and legally secure bridge between fiat currencies and the cryptocurrency market, addressing the volatility and trust issues of digital currencies. The whitepaper details the technical aspects of the ERC20 token, the use of escrow accounts for USD collateral, and the processes for minting and redeeming TUSD tokens. It also discusses the broader vision of the TrustToken platform, aiming to tokenize real-world assets and make them tradable on the blockchain. The document highlights the team's background, legal collaborations, and the network of partners supporting the TrueUSD ecosystem. TrueUSD's approach to stability, transparency, and legal protection positions it as a pioneering solution in the stablecoin market. It aims to facilitate wider adoption of cryptocurrencies for everyday transactions and financial applications.

This dossier provides a comprehensive overview of TrueUSD based on the available information.