TrueUSD (TUSD) is a stablecoin tied to the US dollar in a ratio of 1:1. TUSD reaches this, holding in reserve an equivalent amount in US dollars for each TUSD token in circulation.
TUSD is based on a widely used ERC-20 tokens standard, which makes it compatible with various blockchain networks and decentralized applications (Dapps). Like other stabilcoins, the TUSD goal is to allow users to enter and get out of cryptocurrency markets without delay associated with traditional banking settlements. Investors can directly exchange TUSD for other cryptocurrencies. It also eliminates the gap between cryptocurrencies and fiat currencies without volatility inherent in cryptocurrencies.
How does TrueUSD work?
Trueusd works using smart contracts on the Ethereum blockchain, which allows you to release and redeem the tokenized version of the US dollar.
When the user acquires a TUSD, the basic smart contract automatically generates and produces the equivalent amount of TUSD, which is then added to the back of the token.
On the other hand, when the user sells his TUSD for US dollars, the smart contract instantly destroys tokens, burning them, forever removing them from the TUSD revolutionary stock. At the same time, the platform credits the user to the user US dollars equal to the amount of repaid TUSD.
One of the advantages of using TUSD is that it does not charge a commission for the purchase or repayment of transactions. The company receives income by accruing interest on US dollars stored on its accounts.
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