To secure minting and further ensure transparency and reliability. The first stablecoin to programmatically control minting with real-time on-chain verification of off-chain reserves. As TUSD uses Chainlink Proof of Reserve.

Reserve data for TUSD is aggregated by The Network Firm LLP (“TNF”), an independent, industry-specialized accounting firm in the U.S. TNF aggregates all reserves data (US Dollars held at financial institutions) in real-time and serves that information on-chain through Chainlink’s industry-leading decentralized oracle network. With this ‘Proof of Reserve’ data feed, the TUSD smart contract will automatically check whether the total supply of TUSD would exceed the total amount of US dollars held in reserve before any new stablecoin is minted.

The Integration

TUSD users can feel confident that they have an accurate, highly available, and transparent source of information regarding the reserves backing TUSD. The end result is TUSD becoming a more reliable form of collateral and payment across DeFi and other smart contract verticals.

“We are proud to support TUSD in its efforts to bring new layers of transparency, risk management, and security to its stablecoin minting process,” said Sergey Nazarov, Co-Founder of Chainlink. “With Chainlink Proof of Reserve, TUSD is able to provide greater levels of assurance and confidence to its users, and help bring greater stability to stablecoins and the broader crypto industry.”

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About TUSD

The first regulated stablecoin fully backed by the US Dollar. Access the highest trading volume and liquidity on exchanges of any trusted stablecoin.

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About Chainlink

Chainlink is the industry-standard Web3 services platform. That has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network. Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data. And off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.

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SOURCE: MEDIUM

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The cooperation provides a new use case for TUSD holders and marks a milestone for TUSD’s effort in building up partnerships with DeFi projects and its plan for multi-chain deployment. As TUSD goes live on Wombat Exchange.

Why Wombat Exchange?

One point we are very proud to showcase is our rigorous choice of partnerships. With Binance Labs as its early investor, Wombat Exchange is the best stableswap native on BNB Chain. It outperforms other stablecoin swap protocols by enabling liquidity sharing among stablecoin LPs to improve capital efficiency and introducing Coverage Ratios to remove scalability barriers. On top of that, Wombat also enjoys other advantages, including minimal slippage, single token staking, and an intuitive UI. Wombat Exchange is boasting a TVL of $116 million, ranking top three among all DEXs on BNB Chain.

What does this mean for investors?

The recent FTX crash has slammed investors’ confidence in centralized exchanges (CEX). Such panic has resulted in mass withdrawals. For safety reasons, many crypto investors have opted to deposit assets in decentralized exchanges (DEX), which offer better transparency. Wombat Exchange is one of the top DEX protocols on the BNB Chain. The partnership with Wombat Exchange is a natural, rational choice that provides a more flexible and user-friendly DeFi experience for TUSD holders who prefer DEX trading.

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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 12 major public chains including Ethereum, TRON, Avalanche, BNB Chain, Fantom, and Polygon. It is audited real-time by Armanino, one of the largest American 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.

Website | Twitter 

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About Wombat Exchange

Wombat Exchange is a multichain stableswap native on the BNB Chain. Focused on re-engineering the stableswap experience with its innovative algorithm design as the next-generation stableswap 2.0.

Wombat’s vision is to fuel DeFi growth and push boundaries with greater capital efficiency, increased accessibility, and scalability, with the adoption in a multichain world. To learn more, visit wombat.exchange, or follow us on the social channels below:

Website | Twitter

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SOURCE: MEDIUM

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As a stablecoin frontrunner, TUSD is glad to embrace the promising future of the stablecoin industry. Financial security has always been users’ top concern, and that’s where TUSD’s core value lies. Down the road, TUSD will continue to set benchmarks in transparency, security, and robustness, offering more options and opportunities for users on BNB Chain and other public chains. As Wombat Exchange announced its Partnership with TUSD.

How can users obtain TUSD on the BNB Chain?

There are three major ways to do so:

Mint TUSD directly through TrustToken app

You can mint TUSD with bank wire transfers.

Buy TUSD on centralized exchanges

This method includes Binance, Kucoin and more!

Buy TUSD on decentralized exchanges

This method includes PancakeSwap, Biswap and more!

A complete list can be found on this page.

What to Look Forward To

Save the date! TUSD will launch on the 2nd of December. Watch out! It will be in our Innovation Pool, and WOM emissions will be provided to support the pool as liquidity incentive.

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About TUSD?

TrueUSD  is a stablecoin that can be minted and redeemed 1-for-1 for US Dollars.

It is fully collateralized, legally protected, and transparently verified by third-party attestations. TUSD is the first asset token built by the TrustToken team. It can be minted and redeemed through the TrustToken website and over 70 exchanges including Binance.

Website | Twitter

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About Wombat Exchange

Wombat Exchange is a multichain stableswap native on the BNB Chain, focused on re-engineering the stableswap experience with its innovative algorithm design as the next-generation stableswap 2.0.

Wombat’s vision is to fuel DeFi growth and push boundaries with greater capital efficiency, increased accessibility, and scalability, with the adoption in a multichain world. To learn more, visit wombat.exchange, or follow us on the social channels below:

Website | Twitter

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SOURCE: MEDIUM

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The post Wombat Exchange Partnership with TUSD appeared first on Smart Liquidity Research.