1 Level
7 Review
2 Karma
Review on TrueUSD by Janhenry Fano
The long-term goal for TrueUSD is to become a stablecoin that the industry canโฆ
The long-term goal for TrueUSD is to become a stablecoin that the industry can trust.
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Pros
- TrueUSD is a stablecoin, or a cryptocurrency with a fixed price. Most of them peg, or attach, the price of the cryptocurrency to a fiat currency such as the dollar. This is in contrast to most cryptocurrencies which are known for their price volatility. Currently, TrueUSD is backed by the USD. In the future, TrueEuro, TrueYen and stable baskets of tokenized goods (including precious metals and real estate) may be developed. The plan is for individuals to be able to create their own baskets of tokenized goods, with the market deciding which assets are the best stable currencies.
Cons
- lack of liquidity (ability to deposit or withdraw real USD) has led to multiple discrepancies in the USDT/USD markets provided by exchanges like Kraken and others.
