IOST, an enterprise-grade, decentralized and ultra-fast network oiled with a proof-of-believability consensus algorithm, is integrating the HUSD stablecoin, according to an announcement on Jan. 13, 2021.
HUSD is a safe and secure dollar-pegged stablecoin issued by Stable Universal Limited. Notably, IOST is the first batch of public blockchains to support HUSD. To celebrate this milestone, the two companies are giving away 35,000 HUSD exclusively to IOST users.
The announcement highlights HUSD’s integration as a significant milestone for IOST to build its growing influence in the DeFi scene.
About the HUSD stablecoin
Issued by fintech company Stable Universal, HUSD is a safe and secure stablecoin pegged one-to-one to the U.S. dollar. An independent U.S. audit firm conducts monthly attestations of the HUSD Token, and the attestation report is available for public viewing on stcoins.com. Stable Universal is dedicated to making HUSD stable, secure and safe for our customers.
Combining the stability of the U.S. dollar with the efficiency of blockchain technology, HUSD offers IOST users access to a safe, secure and convenient asset for remittance, commerce, payments, trading and many other use cases.
IOST users will be able to deposit U.S. dollars in their account and receive HUSD at a one-to-one ratio sent to their preferred crypto wallets.
Terry Wang, chief technology officer and co-founder of IOST highlighted:
“HUSD Stablecoin is the key to unlocking a plethora of opportunities in DeFi, IOST’s area of focus and growth in 2020, and the upcoming 2021. IOST’s innovative and developer-friendly technology, which enables high scalability, fast transaction speed and zero transaction fees, makes it a perfect choice for both DeFi developers and users. We are thrilled to explore the unlimited opportunities that have arisen from this partnership and to continue making IOST a home for DeFi.”
Frank Zhang, CEO of Stable Universal, said:
“It is a great start to the new year to announce that HUSD will be soon supported in the IOST ecosystem, as greater cross-chain interoperability means better accessibility for users across a wide array of platforms and protocols designed to meet their trading needs. We look forward to seeing more developers and communities as they continue to explore the use cases for stablecoins and blockchain technology at large.”
HUSD’s stablecoin will play significant roles in IOST’s DeFi use cases as a payment token, a store of value and a bridge between fiat currencies and cryptocurrencies. HUSD will also help to minimize the price volatility often associated with cryptocurrency trading, allow individual users and institutional investors to easily build and transact on the IOST blockchain, and join new liquidity pools for future decentralized exchanges on IOST.
IOST: The next home of DeFi
For DeFi decentralized applications to satisfactorily compete with traditional applications, the underlying network must be fast, meshing perfectly with the objective of DApp launchers. Among the competition, IOST — an enterprise-grade, decentralized and ultra-fast network oiled with a proof-of-believability consensus algorithm — is building a robust portfolio by offering developer-friendly features and environments.
The IOST platform emerged as a response to the scalability problem, aiming to tackle the issue once and for all. IOST implements an array of technologies, including a proof-of-believability algorithm and high-performance virtual machine technology, all of which are supposed to offer higher TPS rates of up to 8,000 transactions per second.
Since 2019, IOST has offered a holistic DeFi ecosystem and continued to make inroads in the budding DeFi space with multiple strategic partnerships and emerging on-chain projects — such as stablecoins, decentralized exchanges, cross-chain transactions, lending, financial derivatives, forecasts and more.
IOST has also embarked on multiple partnerships and has recently launched a $1-million DeFi fund for the development of the DeFi ecosystem.
Supported by Sequoia, Matrix, ZhenFund and other major investors, IOST is an enterprise-level blockchain platform developed for online service providers.
The project team consists of experienced blockchain industry experts who have graduated from some of the world’s top universities, such as Princeton, Stanford, MIT, Tsinghua University and Beijing University. With a two-year-old mainnet, IOST has swiftly risen to become a world-leading public chain renowned for its numerous government collaborations and global enterprise partnerships. IOST is one of the Big Four public chains, with a rich user base and real applicability alongside Ethereum, EOS and Tron. The community has 500,000 members, spanning over 20 countries worldwide; it has over 400 nodes, a top-staking economy and growing.