Trust Token Stablecoins | Bitcointalksearch.org

Maus0728

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Quote from: vv181 on January 16, 2022, 08:51:34 AM

TUSD exists across many chains, so in terms of the transaction fees, it shouldn't cause a problem since there are exists much cheaper chain alternative.

Oh okay! It is still similar to USDT that exist across different chains, and as per Binance withdrawals, TUSD can be transfered thru Binance Chain(BEP2), Binane Smart Chain(BEP20) and Ethererum(ERC20). I wonder why TRON network isn't supported by TUSD even though almost all of them has the same function.

Currently, TUSD is being traded only on Spot Market and is still not being used as a collateral for Perpetual Futures trading^[1], and yeah, it has a lot of room for growth as compared with USDT.

[1] https://www.coingecko.com/en/coins/true-usd#markets

bitkanu

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Quote from: magneto on January 15, 2022, 05:39:44 PM

I just wanted to get the community's opinion on whether Trust Token based stablecoins are trustworthy?

As long as it's fully controlled by big company and i think that's a reliable stable tokens to be trusted by us. So many people are having trust issue with USDT and USDC but they are still using it.

Quote from: magneto on January 15, 2022, 05:39:44 PM

Are they subject to the same problems as USDT and USDC, or are they marginally better in those regards?

If guess some members have done audit about the code and if they are putting such function and community will be creating noise.

Quote from: magneto on January 15, 2022, 05:39:44 PM

I think that they are one of the only platforms to offer a AUD based stablecoin, which is definitely very attractive to us Aussies. Would like a bit of confirmation before I proceed with an investment though.

that sounds good as they are adding more fiat stable coin pair in crypto. If you have enough skill to do audit to the code and you must do that. The stable coin will always have the function to frezee user's fund.

jeungo

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There are two coins that are stable currencies for me: USDT and USDC. I believe that these coins are the most stable among stablecoins, and there is a possibility that they will only fall if the entire industry falls.My confidence in these coins is perhaps too high, but I have been using them for a very long time.

vv181

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Quote from: Maus0728 on January 15, 2022, 10:55:27 PM

What type of investment specifically? TUSD is verified as an ERC-20 token in which the high transaction fees^[1] could be one of your main problem when transferring from one platform to another.

TUSD exists across many chains, so in terms of the transaction fees, it shouldn't cause a problem since there are exists much cheaper chain alternative.

Quote from: magneto on January 15, 2022, 05:39:44 PM

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I think that they are one of the only platforms to offer a AUD based stablecoin, which is definitely very attractive to us Aussies. Would like a bit of confirmation before I proceed with an investment though.

Besides the risks that already referred above, a non-USD stable coin may be subject to lack of adoption, especially TAUD, depending on which platform and how you going to do with investment, you should take into consideration on the availability of the TAUD pair. I didn't have much experience with the liquidity of it, but if I took a look at TAUD Coingecko, the available market pair isn't a lot.

Maus0728

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Quote from: magneto on January 15, 2022, 05:39:44 PM

Would like a bit of confirmation before I proceed with an investment though.

What type of investment specifically? TUSD is verified as an ERC-20 token in which the high transaction fees^[1] could be one of your main problem when transferring from one platform to another. Now, TUSD is also being traded as base pair in Binance for different cryptocurrencies which I think could for determining the legitimacy of this stablecoin as it is being recognized by trading platform.

Quote

Adding to TUSD’s original BTC pair, Binance will add the following trading pairs: BNB/TUSD, ETH/TUSD, XRP/TUSD, EOS/TUSD and XLM/TUSD.

Link to post

TUSD and other stablecoins still serve the same purpose; they may be an alternative to one another depending on your needs, but due to their centralized nature, they are also subject to asset freezing^[2]. Because TUSD is a newer currency than USDT, another issue you may face is a lack of adoption, making it difficult to transfer funds to other platforms.

[1] https://www.reddit.com/r/Crypto_com/comments/r7donf/tusd_let_me_lesson_be_your_lesson_and_save_you/
[2] https://bitcointalksearch.org/topic/updated-psa-most-stablecoins-can-be-frozen-even-in-your-own-wallets-5204055

shinratensei_

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Quote from: magneto on January 15, 2022, 05:39:44 PM

I just wanted to get the community's opinion on whether Trust Token based stablecoins are trustworthy?

That depends on the result of the audit and as long as this stable coin is issued by the trusted party and it has 1:1 reserved funds to back the stable coin and i think that's fine for that. This is my first time to hear trust stable coin.

Quote from: magneto on January 15, 2022, 05:39:44 PM

Are they subject to the same problems as USDT and USDC, or are they marginally better in those regards?

This can be only seen when the audit will be done. You can't expect it to be even better or worst if the audit has not yet been released. Frozen can be only found when the audit is done. You can see on its code whether it has a function to freeze the asset or not.

Quote from: magneto on January 15, 2022, 05:39:44 PM

I think that they are one of the only platforms to offer a AUD based stablecoin, which is definitely very attractive to us Aussies. Would like a bit of confirmation before I proceed with an investment though.

They are trying something new and this is a common thing in crypto. So, does it owned by trust wallet team?

magneto

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I just wanted to get the community's opinion on whether Trust Token based stablecoins are trustworthy?

Are they subject to the same problems as USDT and USDC, or are they marginally better in those regards?

I think that they are one of the only platforms to offer a AUD based stablecoin, which is definitely very attractive to us Aussies. Would like a bit of confirmation before I proceed with an investment though.

Topic: Trust Token Stablecoins (Read 110 times)