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Singapore, Singapore–(Newsfile Corp. – March 31, 2022) – TrueUSD (TUSD) and Balancer (BAL) Automated Market Maker (AMM) partnered up with Polygon to offer liquidity providers with TUSD and BAL rewards from a stablecoin pool incentive program last November. The program incentivizes liquidity providers to add TUSD-DAI-USDC-USDT liquidity to the Polygon ecosystem.

 (Source: polygon.balancer.fi, 2022.3.30)

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(Source: DeFi Llama, 2022.3.30)

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The TUSD liquidity incentive program on Balancer is still ongoing. The TVL of TUSD-related liquidity pools has exceeded $64 million, ranking No.1 on Balancer. The APR and trading volume stood at 5.65% and $10.25 million, respectively. 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.

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The TVL of the pool above is ranked No.1 on Balancer’s Polygon version (Source: polygon.balancer.fi, 2022.3.30)

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The data above suggests that the incentive programs are well received. As a medium of exchange for digital assets, stablecoins play a critical role in DeFi. TrueUSD’s strong alliance with quality projects has proven to be a sound strategy.

By offering liquidity providers TUSD and BAL rewards from their stablecoin pool incentive program, TrueUSD and Balancer hope that such unprecedented success will continue to deliver stable liquidity to the Polygon ecosystem.

About TrueUSD

TrueUSD (TUSD) is the first independently-verified digital asset pegged 1-for-1 to US Dollars. The ERC20 stablecoin uses multiple banks, escrow accounts, and third-party attestations to reduce counterparty risk, provide transparency, and prevent fraud.

TUSD offers liquidity on dozens of leading exchanges, DeFi protocols and is supported by major OTC desks. TUSD also supports nearly instant minting and redemption speeds through the Silvergate Exchange Network (SEN) and PrimeX by PrimeTrust.

About Balancer Automated Market Maker (AMM)

Balancer Protocol allows for automated portfolio management, turning the concept of an index fund on its head. Instead of paying fees to portfolio managers, you collect fees from traders who rebalance your portfolio by following arbitrage opportunities.

Media Contact for TrueUSD
Annabel G
Marketing & BD Director of TrueUSD
Email: [email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118736

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