Difference between revisions of "TrustToken"

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== Basics ==
TrueUSD is an [[Ethereum (ETH)|Ethereum]]-based [[Stablecoins|stablecoin]] that bills itself as “the first regulated stablecoin fully backed by the U.S. Dollar.”
 
==Basics ==
* The [https://www.trusttoken.com/ platform] on which the TrueUSD [[Stablecoins|stabletoken]] is deployed.
* The [https://www.trusttoken.com/ platform] on which the TrueUSD [[Stablecoins|stabletoken]] is deployed.
 
*Announced on: [https://decrypt.co/123468/here-are-stablecoins-thrived-usdc-wobbled 2018]
* Announced on:
* [[Mainnet]] release:
* [[Mainnet]] release:
* Based in:
* Based in:
== History ==
== History ==
== Audits & Exploits ==
* [[Bug bounty]] program can be found [insert here].
* [[CertiK (CTK)|CertiK]] claims to have done an audit for them, according to their [https://certik.io/security-audits/#home website] (12-6-2020).
=== Bugs/Exploits ===
== Token ==
== Token ==
=== Launch ===
=== Launch ===
Line 11: Line 17:
=== Utility ===
=== Utility ===
=== Token Details ===
=== Token Details ===
=== Stablecoin ===
* Claims 1-1 backed with dollars and ''"A new type of trust developed in collaboration with the top trust law attorneys in the world" because it "Pays fiduciaries who fulfill accounting requirements and interface with legal-financial institutions"''
== Technology ==
== Technology ==
* [[Whitepaper]] can be found [insert here].
* [[Whitepaper]] can be found [insert here].
* Code can be viewed [insert here].
* Code can be viewed [insert here].
* Built on:  
* Built on: [[Ethereum (ETH)|Ethereum]]
=== How it works ===


* Programming language used:
* [https://decrypt.co/123468/here-are-stablecoins-thrived-usdc-wobbled From] [[Decrypt (DCPT)|Decrypt]] (15-3-2023):
=== Transaction Details ===
 
* Capacity ([[TPS]]):
''"TUSD is backed 1:1 by nothing but cold hard [[FIAT|fiat]], according to [[Chainlink (LINK)|Chainlink’s]] proof-of-reserve monitoring tool. TrustToken keeps its fiat reserves in third-party bank accounts belonging to trust companies that have signed an agreement to publish monthly audits. This spread of third-party accounts reduces [[Counterparty Risk|counterparty risk]], protects token holders, and ensures that the TrustToken platform itself doesn’t have direct access to the funds, increasing consumer trust."''
* [[Latency]]:
 
=== How it works ===
* Claims 1-1 backed with dollars and ''"A new type of trust developed in collaboration with the top trust law attorneys in the world" because it "Pays fiduciaries who fulfill accounting requirements and interface with legal-financial institutions"''
=== Mining ===
 
=== Staking ===
=== Upgrades ===
=== Liquidity Mining ===
=== Liquidity Mining ===
=== Layer Two ===
=== Different Implementations ===
=== Different Implementations ===
=== Interoperability ===
=== Interoperability ===
=== Other Details ===
=== Other Details ===
== Privacy Method being used ==
== Oracle Method ==
=== Compliance ===
== Oracle Method being used ==
* [https://www.coindesk.com/trusttoken-taps-chainlink-for-on-chain-proof-of-reserves-for-trueusd-stablecoin From] [[CoinDesk]] (11-11-2020):
* [https://www.coindesk.com/trusttoken-taps-chainlink-for-on-chain-proof-of-reserves-for-trueusd-stablecoin From] [[CoinDesk]] (11-11-2020):
"''Stablecoin issuer TrustToken is bringing its proof of reserves system for TrueUSD (TUSD) collateralization levels [[on-chain]]. Adding [[Chainlink]] to an existing partnership with accounting firm Armanino makes it possible. Pulling from Armanino’s TrustExplorer API, the Chainlink integration makes the data available on-chain, which then lets app builders develop preventative measures against fractional reserve banking or other potential red flags."''
"''Stablecoin issuer TrustToken is bringing its proof of reserves system for TrueUSD (TUSD) collateralization levels [[on-chain]]. Adding [[Chainlink]] to an existing partnership with accounting firm Armanino makes it possible. Pulling from Armanino’s TrustExplorer API, the Chainlink integration makes the data available on-chain, which then lets app builders develop preventative measures against fractional reserve banking or other potential red flags."''


== Their Other Projects ==
== Their Other Projects ==
=== DEX ===
== Governance ==
=== DAO ===
=== Treasury ===
== Upgrades ==
== Roadmap ==
== Roadmap ==
* Can be found [Insert link here].
* Can be found [Insert link here].
== Audits ==
* [[Bug bounty]] program can be found [insert here].
* [[CertiK (CTK)|CertiK]] claims to have done an audit for them, according to their [https://certik.io/security-audits/#home website] (12-6-2020).
=== Bugs/Hacks ===
== Usage ==
== Usage ==
=== Projects that use or built on it ===
=== Projects that use or built on it ===
== Competition ==
== Competition ==
== Coin Distribution ==
== Pros and Cons ==
== Pros and Cons ==
=== Pros ===
=== Pros ===
=== Cons ===
=== Cons ===
== Team, Funding, Partnerships, etc. ==
 
* [https://decrypt.co/123468/here-are-stablecoins-thrived-usdc-wobbled From] [[Decrypt (DCPT)|Decrypt]] (15-3-2023):
 
''"TrueUSD was [https://twitter.com/tusdio/status/1635119930092953600?s=20 hit by exposure] to the now-collapsed crypto bank [[Silvergate Bank|Silvergate]]. TUSD minting and redemptions were paused for “a small number” of Signature Bank users but continued “unaffected” across the rest of TrueUSD’s banking network, according to a tweet on Monday by the project."''
* Had investment from [[FTX (FTT)|Alameda Research]]/FTX, which [https://twitter.com/Edvis100/status/1591106606716313600 came out] (11-11-2022) during the FTX crash. This could mean fall-out risk.
 
== Team, Funding, Partners ==
=== Team ===
=== Team ===
* Full team can be found [here].
* Full team can be found [here].
 
*[[Danny An]]; Co-founder & CEO
* [[Danny An]]; Co-founder & CEO
* [[Rafael Cosman]]; co-founder
* [[Rafael Cosman]]; co-founder
* [[Stephen Kade]]; co-founder
* [[Stephen Kade]]; co-founder

Latest revision as of 05:23, 19 March 2023

TrueUSD is an Ethereum-based stablecoin that bills itself as “the first regulated stablecoin fully backed by the U.S. Dollar.”

Basics

History

Audits & Exploits

  • Bug bounty program can be found [insert here].
  • CertiK claims to have done an audit for them, according to their website (12-6-2020).

Bugs/Exploits

Token

Launch

Token allocation

Utility

Token Details

Technology

  • Whitepaper can be found [insert here].
  • Code can be viewed [insert here].
  • Built on: Ethereum

How it works

"TUSD is backed 1:1 by nothing but cold hard fiat, according to Chainlink’s proof-of-reserve monitoring tool. TrustToken keeps its fiat reserves in third-party bank accounts belonging to trust companies that have signed an agreement to publish monthly audits. This spread of third-party accounts reduces counterparty risk, protects token holders, and ensures that the TrustToken platform itself doesn’t have direct access to the funds, increasing consumer trust."

  • Claims 1-1 backed with dollars and "A new type of trust developed in collaboration with the top trust law attorneys in the world" because it "Pays fiduciaries who fulfill accounting requirements and interface with legal-financial institutions"

Upgrades

Liquidity Mining

Different Implementations

Interoperability

Other Details

Oracle Method

"Stablecoin issuer TrustToken is bringing its proof of reserves system for TrueUSD (TUSD) collateralization levels on-chain. Adding Chainlink to an existing partnership with accounting firm Armanino makes it possible. Pulling from Armanino’s TrustExplorer API, the Chainlink integration makes the data available on-chain, which then lets app builders develop preventative measures against fractional reserve banking or other potential red flags."

Their Other Projects

Roadmap

  • Can be found [Insert link here].

Usage

Projects that use or built on it

Competition

Pros and Cons

Pros

Cons

"TrueUSD was hit by exposure to the now-collapsed crypto bank Silvergate. TUSD minting and redemptions were paused for “a small number” of Signature Bank users but continued “unaffected” across the rest of TrueUSD’s banking network, according to a tweet on Monday by the project."

  • Had investment from Alameda Research/FTX, which came out (11-11-2022) during the FTX crash. This could mean fall-out risk.

Team, Funding, Partners

Team

Funding

Partners