Singapore, Singapore, April 28, 2022 — The TrueUSD(TUSD) and am3-Curve DAO Token (CRV) pool launched on Curve’s Polygon network with the gauge feature — which only seven pools on Curve’s Polygon network have — to distribute CRV rewards on April 1. The TUSD-am3CRV pool is supported on Curve’s Ethereum network as well.
As an automated market maker in decentralized finance (DeFi) that offers stablecoin swap services, Curve’s total value locked (TVL) has hit $20.45 billion, ranking first among all decentralized exchanges (DEXs). Compared with other trading protocols, Curve offers trading pairs featuring low slippage and handling fees for better liquidity. Swap fees paid by traders also fund liquidity provider (LP) rewards.
In addition, Curve’s gauge system is a focal point of many liquidity pools. LPs of pools with gauges can get a share of the handling fees collected and receive additional CRV distributions.
Data source: DefiLlama, April 7, 2022
This is not the first time TUSD has integrated with protocols on Polygon. Last November, TUSD launched on Balancer Polygon with a stablecoin pool to offer TUSD and Balancer (BAL) distributions to liquidity providers. The TVL of this pool was $116.9 million. TrueUSD on Polygon has more than 31,600 transfers, and the entire supply exceeds 25.61 million TUSD.
The relationship between TUSD and Curve is long-standing. In the Ethereum ecosystem, the TVL in the TUSD-am3CRV pool amounted to $80 million, higher than most other pools. Many leading applications have deployed Polygon versions due to its high compatibility with Ethereum, performance and cost advantages, and frequent small transactions.
The proposal adoption showcases the community’s recognition of TUSD’s value and marks a significant step forward on TUSD’s journey of multichain deployment. In response, some community members commented that stablecoins are pivotal to DeFi, and more quality stablecoins like TUSD are needed for lending protocols and DEXs to diversify their markets.
Data source: Curve, April 7, 2022
“As a crypto asset with low volatility, TUSD boosts the transparency and stability of various ecosystems and diversifies high-yield investment options for TUSD tokenholders through partnerships with financial institutions, including exchanges and banks,” said Annabel G., marketing and business development director of TUSD.
TUSD is currently live on major public chains such as Ethereum, Tron, Avalanche, BNB Chain, Fantom and Polygon. TUSD will build itself into a multi-dimensional, secure and convenient digital asset bridge to narrow the gap between the digital and the physical worlds.
TUSD is the first independently verified digital asset pegged one-for-one to the United States dollar. This 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 and DeFi protocols and is supported by major over-the-counter desks. TUSD also supports nearly instant minting and redemption speeds through the Silvergate Exchange Network (SEN) and PrimeX by PrimeTrust.
- Annabel G. — email@example.com