TrueUSD Price (TUSD)

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About TrueUSD (TUSD)

TrueUSD (TUSD) is a stablecoin that is pegged to the US Dollar, meaning each TUSD token is legally backed by and redeemable for one US dollar, ensuring price stability. It is a blockchain-based cryptocurrency that offers transparent and verified reserves, aiming to provide a secure, stable, and trustworthy digital equivalent of the US Dollar.

    TrueUSD Frequently Asked Questions (FAQ)

      What is TrueUSD (TUSD) and how does it maintain its value?

      TrueUSD (TUSD) is a stablecoin which is pegged to the US Dollar, aiming to combine the stability of a traditional currency with the efficiency of blockchain technology. It maintains its value by ensuring that for every TUSD token issued, there is an equivalent amount of US dollars held in reserve. These reserves are held in escrow accounts managed by trusted third-party fiduciary partners, and the issuance and redemption process is regularly audited to provide transparency and trust in the token's value.

      How does TrueUSD ensure the 1:1 USD reserve to TUSD supply ratio?

      TrueUSD maintains the 1:1 ratio by ensuring that for every TUSD token issued, there is one US dollar held in escrow. These funds are held by third-party trust companies, with regular attestations conducted by independent certified accounting firms to verify the matching supply of TUSD tokens to USD reserves.

      Which blockchains currently support TrueUSD?

      TrueUSD is supported on various blockchains including Ethereum, Binance Smart Chain, Avalanche, and Tron.

      Can you list the trading platforms where TrueUSD is available?

      TrueUSD is available on various cryptocurrency exchanges, including Binance, Huobi, Bittrex, and other trading platforms. However, the availability can change, so it's recommended to check the latest listings on the TrueUSD website or directly on the trading platforms.

      What is the role of Chainlink PoR in TrueUSD's ecosystem?

      Chainlink Proof of Reserve (PoR) provides automated audits of TrueUSD's collateral. It ensures the token's 1:1 parity with USD by validating that the true USD reserves match the supply of TrueUSD tokens, enhancing transparency and trust in the stablecoin's backing.

      Where can users verify the real-time attestation of TrueUSD's reserves?

      Users can verify the real-time attestation of TrueUSD's reserves at the official TrueUSD website or through the platform provided by their third-party assurance firm, which conducts independent attestations.

      What legal status does TrueUSD hold in the Commonwealth of Dominica?

      As of my last update, there is no specific information on the legal status of TrueUSD in the Commonwealth of Dominica. It is recommended to consult with legal experts or regulatory authorities in Dominica for the most current information.

      Is there a cap on the number of TrueUSD coins that can be in circulation?

      No, there is no hard cap on the number of TrueUSD (TUSD) coins that can be in circulation. The supply adjusts based on the amount of USD held in the reserve backing the tokens.

      What are the primary security measures implemented in the TrueUSD network?

      TrueUSD implements several security measures including regular audits by third-party firms, full collateral of USD in escrow to back the TUSD tokens, and legal protections ensuring that the underlying dollars are held for the benefit of TUSD token holders. Additionally, smart contract security is ensured through regular reviews and monitoring.