Vote Now: Support TrueUSD on Compound

This article was first published on TrustToken - Medium
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Click on the image to vote on the proposal

Good for COMP Holders, Good for TrueCurrency Users — Here’s Why

TrueUSD has been proposed as a new Compound Finance market. We’ve previously discussed the pros and cons of TUSD on Compound on the governance forum and have structured the proposal with substantial feedback from the Compound community on Discord.

We’re convinced adding TUSD to Compound would be good for TUSD users and Compound users alike, and we’d love your support on the proposal on Compound’s Governance Platform here:

Compound

It’s our position that TrueUSD has set the bar in terms of transparency, trustworthiness, and adoption across DeFi. As such, TUSD markets across the top DeFi platforms have collectively grown to hundreds of millions in value, with TUSD ranking at a top asset by total market size.

If TUSD is accepted as a new Compound market, we expect to see similar growth on Compound as TUSD has enjoyed on Aave, Maker and beyond — to the benefit of COMP holders and TUSD users.

We also expect adding a third stablecoin asset will give Compound users a way to diversify beyond the 2 assets that currently drive the overwhelming majority of Compound usage today — USDC and DAI.

Why TrueUSD?

Any dependable stablecoin will have a price consistent with the currency to which it is pegged, safely hold 100% of the assets backing its outstanding tokens, and undergo regular independent audits. TrueUSD far exceeds this bar and has been a long-time partner to DeFi. Here’s how:

Leader in Transparency

TUSD is the only stablecoin with live attestations to corroborate TUSD out in the market with dollars held in escrow. These attestations are independently facilitated by top accounting firm Armanino, LLP. We’ll be bringing this data on-chain through a partnership with oracle providers this year.

Popularity

TUSD has been listed on AAVE since 2019 and currently ranks 4rd ...

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