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TUSD and QuickSwap Launched a New Stablecoin Pool

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TUSD and QuickSwap Launched a New Stablecoin Pool

June 09
19:51 2022

Recently, TUSD and QuickSwap, the biggest Automated Market Maker (AMM) that runs on the Polygon Network have entered into a partnership in which they would build a TUSD-USDC liquidity pool and start a 60-day incentive program, offering liquidity providers QUICK worth $50K and TUSD worth $50K. This would, without a doubt, bring liquidity providers another round of provision.

QuickSwap, the most popular DEX project on Polygon, has a similar mechanism to Uniswap and SushiSwap, where everyone can put money onto the platform, provide liquidity, and re-stake LP tokens to earn rewards, or they can earn trading fees through users who swap tokens using the fund pool. Compared with Uniswap, QuickSwap is well rounded in its compatibility with Ethereum, accessibility, and cost, which explains its popularity. Currently, the total value locked (TVL) across QuickSwap has hit $402.31 million, topping the chart on Polygon.

 

(Data source: DeFi Llama) 

TUSD has long maintained a partnership with Polygon, which is a fast Layer-2 Ethereum scaling solution that is easy to use. Compatible with the Ethereum virtual machine (EVM), Polygon boasts low transaction fees and fast speed, and many leading applications have deployed their Polygon version. This collaboration is a significant step on TUSD’s path to multi-chain and towards its mission to actualize “money build for the new global financial system”. Besides QuickSwap, Curve and Balancer are also partners with TUSD on Polygon. Down the road, TUSD will continue to collaborate with more renowned projects with high liquidity.

After the crash of UST, except for a few short-term holders, most users have turned to compliant USD-backed stablecoins. In fact, given what happened to Terra, people no longer have faith in algorithmic stablecoins. But algorithmic stablecoins are very different from fiat-backed ones. According to Annabel, marketing and BD Director of TUSD, “Compared to algorithmic stablecoins such as UST, TUSD has a more stable and transparent reserve. It not only has 100% U.S. dollar reserves and strict KYC/AML verifications but is also real-time attested by Armanino and regularly publishes third-party audit results, which ensures investors’ asset security and ease of use. TUSD boasts a more transparent asset reserve with stricter rules than other U.S. dollar-based stablecoins, which has made it resilient to emergencies. The collaboration is an important move for TUSD to expand its DeFi projects and deepen its multi-chain deployment.”

It is expected that this incentive event will bring tangible benefits to liquidity providers, offering consolation for crypto investors during this market volatility. We believe that the most promising stablecoin remains the fully collateralized one. TUSD is proud to say that it has set a high standard of transparency, security, and convenience. It can offer protection against the risk of run and market emergencies, bringing higher returns and new financial opportunities to all investors. TUSD, a key building block in the crypto world, is working to provide trust and stability amid volatility, address the demand for more asset trading, and bring prosperity to crypto finance.

About TUSD

TrueUSD is the first digital asset attested live on-chain by an independent third-party institution and pegged at 1:1 to the U.S. dollar. So far, it has been listed on more than 100 trading platforms such as Binance, Huobi, and Poloniex, and has been deployed on 11 major public chains including Ethereum, TRON, Avalanche, BNB, Fantom, and Polygon. It is audited real-time by Armanino, one of the largest U.S.-based accounting firms, to ensure the 1:1 ratio of USD reserves to circulating token supply and the 100% collateral rate. Users can access the publicly available audit results via the official website tusd.io at any time.

About QuickSwap

QUICK is a Polygon token that powers QuickSwap, a decentralized exchange that runs on the Polygon Network. QuickSwap provides faster and cheaper transactions than Ethereum. QUICK can be used to create and vote on proposals governing QuickSwap and can be staked to earn a portion of trading fees.

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