SAN FRANSISCO, CA / ACCESSWIRE / September 25, 2020 / To encourage growth in DeFi, TrustToken has launched the TrueCurrency Liquidity Fund.
Approved projects can receive up to $1 million of liquidity at no upfront cost.
Bootstrapping liquidity can be difficult for a new DeFi protocol, so this fund is here to help the industry progress by supplying TrueCurrency liquidity directly into DeFi projects. The selected projects and protocols will receive liquidity in the form of fiat-backed stable coins (TUSD, TGBP, THKD, TAUD, TCAD). Projects interested in applying can fill out this form and expect a response within one week.
Rafael Cosman, CEO of TrustToken, says, "DeFi has taken the world by storm, and our TrueCurrencies with it, growing out TrueUSD market cap past half a billion dollars. The TrueCurrency Liquidity Fund is our investment back into DeFi, putting all our TrueCurrencies toward helping the best new projects in this growing industry build their presence and legitimacy in a difficult hurdle that faces all new marketplaces: liquidity."
TrueCurrency Liquidity Fund has already
Allocated +$1.5M to Uniswap Protocol's liquidity in September 2020
Supported Balancer with the launch of a TrueCurrency-backed Forex pool, making it easy to swap between global stablecoins or use a new stablecoin composite. A new TrueFX token will be given to those that provide liquidity.
"The importance of TrueFX (TFX) is hard to overstate: a single token backed by an on-chain basket of five distinct fiat-backed stablecoins -- has been a dream of centralized and decentralized finance alike. It's the first product of its kind, increasing access to crypto users across the globe and creating a new standard in the building block of crypto," Says Rafael Cosman, CEO of TrustToken.
TUSD is the world's first regulated, independently-verified dollar-backed stablecoin, now moving billions of dollars around the world each day. Our other TrueCurrencies meet the same exacting standards as TUSD, and all our currencies enjoy live attestations of the fiat backing each to token provided by top accounting firm Armanino, LLP.
For Updates, Visit TrustToken.com
TrustToken is making economic opportunity accessible for all by bringing finance to the internet age. Makers of TUSD TCAD TAUD TGBP THKD
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SOURCE: TrustToken
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https://www.accesswire.com/607596/TrueCurrency-Liquidity-Fund-now-supporting-new-DeFi-projects-with-up-to-1M-in-liquidity--Applications-open
