Press release
PRESS RELEASE. Singapore, Singapore / April 4th / –Polygon has partnered up to offer liquidity providers TUSD-DAI-USDC and balancer (BAL). The program is based on a stablecoin pool incentive scheme that was launched last November. It rewards liquidity providers with TUSD/DAI/USDC/USDT liquidity.
As a reward for providing liquidity, liquidity providers will get BAL, TUSD and MATIC. It is an exceptional opportunity to provide liquidity while gaining exposure to different assets. It is now live and open to anyone.
TrueUSD (Polygon), and Balancer(Polygon) have become very popular investments for those looking to make a secure DeFi investment. This has also generated a lot of interest within the crypto community. This pool’s TVL rose as high as $116.9 million, prompting excitement from all corners of the crypto community. All MATIC Rewards were paid in the early 2022. Liquidity bonuses in TUSD, BAL, and other currencies were kept.
(Source: polygon.balancer.fi, 2022.3.30)
In the last year, stablecoin market has seen an incredible growth rate. The current value of this currency is close to $200 billion. TUSD was the first stablecoin that is fully backed entirely by US Dollars. It has gained trust among customers due to its transparency and safety. With a market capitalization close to $1.5 billion, it is fourth in stablecoins after USDT, USDC and BUSD.
TrueUSD partners and collaborates with financial exchanges and other prominent institutions to bring users high-yield, flexible campaigns, as well as incentives.
It also aims to create a secure multi-dimensional connection among digital assets through multi-chain deployment and bank collaboration.
The TUSD was successfully used in 10 major blockchain ecosystems. Source: TrueUSD website
Balancer boasts an estimated TVL of $3.13 trillion, with TrueUSD as its partner. The incentive program is further liquidated by the partnership.
Balancer also launched a Boosted Pool incentive programme with Aave, the Ethereum-based lending protocol. Based on their liquidity incentive program, TrueUSD and Balancer have a great potential to work together in the future.
(Source: DeFi Llama, 2022.3.30)
TUSD liquidity incentive program is ongoing on Balancer. Balancer has the highest TVL of liquidity pools related to TUSD, at $64 million. APR was 5.65%, while trading volume was $10.25million. The TUSD-USDC liquidity pool on Beethoven X, Balancer’s next-generation AMM protocol on Fantom, has a TVL of $7.30 million with a 15.63% APR, presenting another opportunity.
The TVL of the pool above is ranked No.1 on Balancer’s Polygon version (Source: polygon.balancer.fi, 2022.3.30)
These data suggest that incentive programs have been well-received. Stablecoins are a key part of DeFi as a means to exchange digital assets. TrueUSD’s strong alliance with quality projects has proven to be a sound strategy.
TrueUSD and Balancer are hoping that this unprecedented success in providing stable liquidity for the Polygon ecosystem will carry on by offering liquidity providers TUSD and BAL incentives from their stablecoin pool incentive programme.
Information about TrueUSD
TrueUSD (TUSD) is the first independently-verified digital asset pegged 1-for-1 to US Dollars. To reduce counterparty risk and provide transparency and protect against fraud, the ERC20 stablecoin makes use of multiple banks and escrow accounts.
TUSD is available on liquidity exchanges that support DeFi protocol and other major OTC providers. TUSD can also be used to support fast minting and redemption through PrimeX by PrimeTrust and Silvergate Exchange Network (SEN).
About Balancer Automated market Maker (AMM).
The Balancer Protocol automates portfolio management and turns the idea of an index fund upside down. Instead of having to pay portfolio managers fees, traders collect fees. They rebalance the portfolio according to arbitrage opportunities.
For TrueUSD Media Contact
Annabel G
Marketing & BD Director of TrueUSD
Email: [email protected]
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