TrueUSD
Crypto Overview
Overview
TrueUSD is a USD-pegged stablecoin that aims to maintain a 1:1 ratio with the US Dollar. It was launched in 2018 and is currently operated by Archblock (formerly TrustToken). The token operates on multiple blockchain networks including Ethereum, Tron, and BNB Chain.
Intended Utility
TrueUSD's primary purpose is to serve as a stable medium of exchange and store of value in the cryptocurrency ecosystem. It achieves this through a unique model where each TUSD token is backed by actual US dollars held in regulated third-party banks and financial institutions.
Actual Utility Assessment
The token demonstrates significant real-world adoption, with daily trading volumes consistently in the billions of dollars. It is widely used across major cryptocurrency exchanges for trading pairs and maintains partnerships with over 100 trading platforms. TrueUSD implements regular attestations and real-time proof of reserves through independent accounting firms, maintaining transparency about its backing.
Business Model Analysis
Revenue is generated through small fees on token minting and redemption processes, avoiding interest-based income. The platform emphasizes regulatory compliance and maintains necessary licenses. All USD reserves are held in FDIC-insured banks or government-backed securities.
Founder Enrichment Risk Assessment
The token distribution model doesn't involve founder allocation or vesting periods since tokens are minted based on actual USD deposits. The team's revenue comes from legitimate operational fees rather than token appreciation. The project maintains strong development activity with regular updates and improvements to its infrastructure.
Crypto Impact
To assign a comfort level investing in TrueUSD from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to TrueUSD.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.