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TrueUSD’s 2021 in Review: Partner with Public Chain Ecosystems and Builder of Compliant, Transparent Finance
Singapore, Singapore–(Newsfile Corp. – January 24, 2022) – TrueUSD announces its 2021 review. The stablecoin market experienced explosive growth in 2021. The total supply of U.S. dollar-pegged stablecoins soared to 388%, from $29 billion at the beginning of the year to more than $140 billion. Stablecoin usage also reached an all-time high: the adjusted annual trading volume of stablecoins exceeded $5 trillion in 2021, a year-on-year increase of over 370% compared to that in 2020.
As a stablecoin pegged to the U.S. dollar, TrueUSD boasted a supply to the tune of $1.5 billion in 2021 at its peak. It also made breakthroughs in multi-chain deployment, partnerships with banks and DeFi ecosystem projects, and other aspects. Let’s take a look back at TrueUSD’s achievements in 2021.
I. Partnership with banks: 24/7 minting and redemption service
After entering into a partnership in 2021 with Silvergate Bank, a licensed U.S.-based bank, TrueUSD leveraged the Silvergate Exchange Network (SEN) to deliver near-instant token minting and redemption services.
TrueUSD also collaborated with Signature Bank to realize instant deposit and withdrawal by integrating its stablecoin TUSD into Signature Bank’s Signet, a blockchain-based digital payment platform through which TUSD users have access to real-time payment and settlement services.
II. Multi-chain deployment: a compliant, transparent USD-pegged stablecoin for public chains and their DeFi ecosystems
Throughout 2021 “DeFi” was a keyword for TrueUSD. It partnered with major public chains, including TRON, Avalanche, Fantom, and Polygon, to introduce more transparency and stability to the world of public chains and their DeFi ecosystems while allowing TUSD holders to have more investment options that bring higher earnings.
Among TrueUSD’s DeFi partners, PancakeSwap and Balancer (Polygon), which offered liquidity incentives, was the most popular, and the Gold Shovel Mining campaign with HECO also received significant attention. TUSD holders could earn easy rewards by providing liquidity to LP pools and participating in TUSD lending. Moreover, it is worth noting that TrueUSD invested 1 million TUSD into its partnership with PancakeSwap as bonuses that added to users’ earnings.
In addition to its partnerships, TrustToken also introduced the collateral-free lending product TrueFi, one of the first products that allow users who have passed credit model-based checks to borrow TUSD with no collateral. TrustToken, the operator of the lending protocol TrueFi and stablecoin TUSD, raised a total of $12.5 million, with BlockTower Capital, Andreessen Horowitz (a16z), and Alameda Research leading the round by purchasing TrueFi’s native token TRU.
III. Collaboration with exchanges: mounting support for TUSD holders
TrueUSD has established partnerships with more than 100 exchanges, including larger well-known exchanges such as Binance, Huobi, and Poloniex.
Among its partner exchanges, Binance, FTX, and Bittrex have supported the deposits and withdrawals of ERC20-TUSD, while those of TRC20-TUSD are available on Huobi, Poloniex, Gate.io, and MEXC. As more users opt for stablecoins as safe-haven assets and a payment instrument, TrueUSD has continued to expand cooperation with crypto exchanges, enabling TUSD deposits and withdrawals for a broader audience. This has offered users greater convenience and more options.
Figure 2
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IV. TUSD activities: stablecoins as top picks for safe-haven seekers
To survive in a volatile market requires safe-haven assets, and stablecoins become the best option. Grasping the market trend, TrueUSD held asset management activities such as Huobi Savings and HODL on Huobi, Bibox, and Poloniex, providing users with easy, flexible, and high-yield giveaway campaigns and additional rewards. These campaigns won huge attention from users upon rolling out and brought them generous rewards.
V. OTC markets: higher trading flexibility
It is well known that OTC trading has a significant advantage in terms of trading flexibility and is a powerful complement to the market. Furthermore, on September 26, 2021, crypto payment processor Simplex integrated stablecoin TrueUSD (TUSD) with fiat on- and off-ramp services, allowing users to use a debit card or a credit card to purchase TUSD via Simplex, which further enhanced the flexibility of trading.
VI. A new record high: TrueUSD’s market cap topping $1.5 billion
2021 witnessed TrueUSD’s remarkable progress in public chain, DeFi, and exchange cooperation, which fueled the sharp increase of its market cap. Coinmarketcap’s stats show that the market cap of TrueUSD hit $1.5 billion on June 10; the number of TUSD holder addresses passed the 400K mark on December 27. These figures speak volumes to TrueUSD’s achievements, made possible with community users’ continued support.
Figure 3
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VII. TrueUSD’s mascot: TrueBull made its debut
On October 25, TrueBull, TrueUSD’s mascot, made its debut. As an IP merch to engage more users to learn about TrueUSD, the lovely TrueBull also represents our bull run expectations.
TrueUSD also announced the launch of the $1 billion Fountain Incentive Program to turbocharge the growth of various DeFi ecosystems. The scheme will be used to incubate projects with potential by introducing TrueUSD and other digital assets worth $1 billion to DeFi ecosystems, further powering the growth of ecosystems. Automated market-making protocol Balancer (Polygon), listed TUSD, where it is the most profitable TUSD stablecoin pool. Therefore, the launch of the incentive pools of TrueUSD will surely bring more traffic to Polygon and Balancer while offering users in the ecosystem more stablecoin options.
Besides, TrueUSD held multiple AMAs in Telegram communities with its partners such as FilDA and Polygon, which is a sweet spot to help users better understand TrueUSD and clarify their questions.
In 2021, TrueUSD became a heavyweight in the blockchain industry with its edges in stability, transparency, and compliance. Moreover, its exploration of different public-chain ecosystems and efforts in the DeFi field have prepared TrueUSD for a glittering 2022.
In 2022, TrueUSD will closely follow the industry trend by giving full play to its strengths. While scaling up cooperation with major exchanges, public chains, and their DeFi ecosystems, we will explore more innovative use cases of TrueUSD to offer greater value for users.
Website: https://trueusd.com/
Twitter: https://twitter.com/tusd_official
Medium: https://trueusd.medium.com/
Telegram (EN): @TUSDofficial_EN
Telegram (CN): @TUSDofficial_CN
Contact
Peggy Yue
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/111410
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HONG KONG, Aug. 7, 2024 /PRNewswire/ — COCA, a pioneering force in the crypto wallet and financial services industry, has achieved several remarkable milestones in Q2 2024. Thanks to the steadfast support of its user community, COCA has launched new features, expanded its partnerships, and garnered prestigious accolades, further solidifying its position as a leader in the crypto space.
Launch of Physical Cards
COCA has introduced its highly anticipated physical cards, which are now available globally and compatible with Apple Pay and Google Pay. These cards allow users to make transactions with ease, earning cashback rewards on their purchases. This significant launch marks a step forward in integrating crypto with everyday financial activities, enhancing user convenience and financial flexibility.
Wallet Growth Milestone
The company has reached a significant milestone with 510,000 active wallets, reflecting a 102% growth quarter-on-quarter. This surge in active wallets highlights the increasing trust and adoption of COCA’s platform, as more users join the COCA community to manage their crypto assets securely and efficiently.
Transaction Volume Surge
In Q2 2024, COCA processed over USD 450,000 in transactions through its platform, demonstrating the robust usage and popularity of its financial services. This impressive transaction volume underscores COCA’s commitment to providing smooth and efficient crypto payment solutions.
Integration with Revolut
COCA has made it easier for users to fund their wallets by integrating with Revolut. This new feature allows seamless loading of crypto assets, enhancing the overall user experience and accessibility of COCA’s services.
Award Recognition
COCA has been honoured with the “Best Startup” award in the Financial Revolution category at CONF3RENCE & BLOCKCHANCE 2024. This award is a testament to COCA’s innovative approach and significant impact on the future of finance, recognizing its efforts in driving forward the digital financial ecosystem.
New Strategic Partnerships
COCA has formed strategic partnerships with industry leaders such as Wirex Pay and GoMining. These collaborations aim to provide users with enhanced rewards and a superior overall experience. The partnerships signify COCA’s dedication to expanding its ecosystem and delivering greater value to its users.
Welcoming Pavel Matveev
COCA is excited to announce the addition of Pavel Matveev, Founder of Wirex, to its team as a Strategy and Product Advisor. Pavel’s extensive experience and visionary approach are expected to drive COCA’s strategic initiatives and product development, contributing to the company’s continued growth and innovation.
Season 2 Point System Launch
Season 2 of COCA’s popular point system has launched, offering users the opportunity to earn points through various activities, including trades, referrals, holding assets, and spending with COCA cards. With a prize pool of USDT 3500 and 5 Wirex Pay Nodes, this season promises exciting rewards and increased user engagement. The season ends on August 9th, so users are encouraged to participate actively.
NFT Giveaway
In a special giveaway, COCA distributed 1000 GoMining NFTs to lucky users. These NFTs provide unique benefits, including enhanced mining capabilities and exclusive digital collectibles, adding significant value to the user experience.
For further details on COCA’s Q2 achievements and upcoming initiatives, visit the company’s blog.
Website: coca.xyz
COCA continues to redefine the crypto experience with its innovative solutions, seamless integrations, and user-focused approach. The company’s recent milestones and future plans highlight its commitment to leading the way in the digital financial landscape.
About COCA
COCA is a next-generation crypto super app designed to simplify and secure the crypto experience for users worldwide. With innovations in security, usability, and integration, COCA is at the forefront of the digital asset revolution. For more information, visit coca.xyz.
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VICTORIA, Seychelles, Aug. 7, 2024 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to announce the launch of GemPool, its innovative new platform that allows users to acquire token airdrops as a reward for staking their crypto assets. This unique product is designed to provide early access to emerging crypto projects while offering rewards for their existing holdings at zero cost. By staking respective tokens in separate pools, users can farm new tokens and gain a foothold in the latest developments within the cryptocurrency market.
GemPool also offers flexible staking terms, allowing users to stake and un-stake their assets anytime within the designated period without lock-up restrictions. This flexibility ensures that users can manage their assets according to their preferences and market conditions. Additionally, GemPool provides zero-cost rewards, enabling users to earn tokens while holding their existing cryptocurrencies. By staking their tokens, users contribute to the growth of promising new projects, supporting innovation and development within the crypto space. With completion of tasks offered, users are eligible to earn multiplier bonus and receive more rewards.
Users can participate by staking KCS, USDT, or other specified assets in designated pools. The rewards are earned according to the respective yields of the pools, ensuring a fair and exciting experience for all users.
For more information on how to participate and the benefits of GemPool, please visit the KuCoin GemPool page.
About KuCoin
Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.
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Latest News
Trust Wallet Launches Gamified Education Platform and Loyalty Program to Enhance and Reward Web3 Learning
DUBAI, UAE, Aug. 7, 2024 /PRNewswire/ — Trust Wallet, the world’s leading self-custody Web3 wallet and Web3 gateway trusted by over 130 million users, has launched Trust Wallet Quests, a gamified education platform within the Trust Wallet mobile app which encourages users to earn points while exploring and learning about Web3.
Users can engage in task-based challenges ranging from quizzes to complex problem-solving scenarios composed of various DeFi and Web3 activities, all designed to deepen their understanding of blockchain technology and decentralized applications (dApps), and expose them to exciting opportunities within Web3. As an incentive, users will earn Trust Points, a loyalty-based points system designed to reward user activity within the Trust Wallet mobile app. With Trust Points, users can earn rewards upon the completion of specific tasks, making Web3 more rewarding and fun.
In the future, Trust Points will offer additional gamification features, such as unlocking achievements, badges, and levels. This interactive approach not only boosts individual learning but also contributes to broader community education and adoption of decentralized technologies, making Trust Wallet Quests a dynamic and exciting way to reward loyal users and engage with communities in Web3.
On the motive for launching Trust Wallet Quests, Eowyn Chen, CEO of Trust Wallet, stated: “The complex technology and fast-paced industry can be intimidating for both new and seasoned users. The introduction of Quests on Trust Wallet further solidifies our commitment to making it easier for millions to navigate Web3, aligning perfectly with our mission to build a seamless Web3 hub and open ecosystem for all.”
Nate Zou, Head of Product at Trust Wallet, highlighted what to expect from Trust Points and Trust Wallet Quests: “Trust Points and Quests are just the first iteration of a much-needed reward system for our community. Within 2024, we have plans to build on this, combining rewards with many of our other web3 product offerings. Overall, we envision this points system not only changing how users engage with Trust Wallet, but also encouraging more collaboration between Trust Wallet, our users and other web3 ecosystem players.”
Trust Wallet Quests and Trust Points are now available on both Android and iOS versions of Trust Wallet’s mobile app. Download here: https://short.trustwallet.com/TrustWalletQuests
About Trust Wallet
Trust Wallet is the self-custody, multi-chain Web3 wallet and Web3 gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, buy, sell, and stake crypto to earn rewards, all in one place and without limits.
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