This article was first published on TrustToken - Medium
Get support bootstrapping up to $1M in platform liquidity with 5 global fiat-backed stablecoins
To encourage growth in DeFi, TrustToken is launching the TrueCurrency Liquidity Fund. Bootstrapping liquidity can be difficult for a new DeFi protocol. The fund is here to help by supplying TrueCurrencies directly into your DeFi project.
Approved projects can receive up to $1 million of liquidity in up to five global fiat-backed stablecoins at no upfront cost. Each of our TrueCurrencies is attested live by top independent accounting firm Armanino LLP and offers simple fiat-crypto ramps.
Our goal is to make it easier for developers to create new, stable platforms by providing a base of liquidity, thereby attracting additional capital.
🐓 Bootstrapping Liquidity in DeFi 🥚
Problem 1: Algorithmic exchange rate mechanisms demand money in the system to work — and often a lot of it.
Problem 2: Since liquidity and token selection are usually the primary incentive to use a given platform, projects that aren’t able to offer strong liquidity often find it more difficult to attract and retain users.
Problem 3: Without serious market making capital nor a userbase with whom to build revenue and liquidity, many platforms are stuck.
How the Liquidity Partnership Works
The TrueCurrency Liquidity Fund will support new DeFi projects and protocols by providing liquidity in the form of up to five of our fiat-backed stablecoins: TUSD, TGBP, THKD, TAUD, TCAD.
Once you’ve completed our application and been reviewed by our team, you’re eligible for $25,000 to $1,000,000 in market making capital from us at no cost to you. We typically finish our review within 3–5 days, then reach out by email and/or Telegram to learn more about your project and needs.
🦄 Supporting Uniswap’s TrueCurrency Liquidity
The TrueCurrency Liquidity Fund allocated +$1.5M to Uniswap liquidity on September 2020 across ...
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TrustToken - Medium