You might like: What is TrueUSD (TUSD)?

According to the exchange’s trading page, Binance’s TUSD-USDT pair saw a total sell volume of approximately $435.4 million in TUSD in the past 24 hours, and approximately $369.3 million in TUSD buy orders were placed, according to the exchange’s order book. The data showed this represented a net outflow of $66.1 million.

Nick Ruck, chief operating officer of ContentFi Labs, said in a statement that following a recent hacking incident targeting Poloniex, TUSD holders are finding themselves in an increasingly difficult position to find stability with the USD-pegged stablecoin.

Justin d’Anethan, APAC head of business development at Keyrock, said in a statement:

“It seems like a small catalyst, but given the recent announcement of Manta in Binance’s launch pool program, and the need to stake BNB or FDUSD at the expense of other stablecoins like TUSD that could have been used for launch pool staking in the past, it seems like a lot of investors are selling the latter for the former,” he said.

What is TrueUSD (TUSD)?

Looking directly at the question of what is TrueUSD (TUSD), it is the first digital asset that is independently verified to be redeemable 1-to-1 for U.S. dollars. This multi-chain stablecoin uses traditional banks, escrow accounts, and third-party attestations to reduce counterparty risk, provide transparency, and prevent fraud.

The post TrueUSD Under $1! appeared first on Coin Engineer.

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Binance, a leading cryptocurrency exchange, has announced that it has added a new token to its Launchpool platform. According to the announcement, the exchange will start XAI farming on January 5th.

Furthermore, to participate in the XAI Launchpool event, you must first have a Binance account. If you don’t have a Binance account yet, you can sign up with a commission discount through this link.

In this important event, users will be able to farm for 4 days by staking BNB, FDUSD, and TUSD tokens in separate pools.

XAI Token Binance Launchpool Details!

XAI is a game blockchain built on Arbitrum and is being promoted as the 43rd project of Binance Launchpool.

The Launchpool web page is expected to be launched in the next 24 hours and the event will start on January 5th. Users who stake BNB, FDUSD, and TUSD for four days will have the chance to win XAI tokens.

A total of 75 million XAI represents 3% of the total token supply and this large prize pool will be distributed to users who invest in different tokens. The distribution will be as follows: 60 million XAI (80%) will be offered to BNB stakers, 7.5 million XAI (10%) will be offered to FDUSD stakers, and 7.5 million XAI (10%) will be offered to TUSD stakers.

Binance plans to list XAI tokens at 1:00 PM on January 9th. This step will allow XAI to meet a wider investor audience.

What is XAI?

XAI is notable as the first Layer 3 token in the Arbitrum ARB ecosystem. Also, XAI, which specifically targets traditional players, aims to increase their participation in Web3 games. Additionally, this token allows traditional players to exchange in-game items in their favorite games without having to interact with crypto wallets.

The post Binance Announces New Launchpool Project! What is XAI? appeared first on Coin Engineer.

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According to data, the altcoin, which started at the levels of $0.02, made its opening at $1.88 with a rise of 9300%. However, NFP, which later retreated a bit, is currently trading at $1.18.

Users who wanted to earn NFP had to stake BNB, TUSD, or FDUSD. However, the net market price of NFP is not yet known as it did not have an initial sale. NFP was also listed on other exchanges such as Coinone, MEXC, and Bitget in addition to Binance.

Binance distributed 110 million of the total 1 billion NFP as a reward within the scope of Launchpool. The future of this new project in the crypto world is awaited with curiosity.

Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Binance Launchpool ‘s NFPrompt Listed! appeared first on Coin Engineer.

How Did TrueUSD (TUSD) Come About?

TrustToken, a platform that creates asset-backed tokens, introduced TrueUSD in January 2018. TrustToken, facing the struggles of other stablecoins trying to build strong financial connections and full support, decided to create a stablecoin named TrueUSD (TUSD). Each TUSD coin is backed by one dollar. The TrustToken platform distributed it to users using a smart contract. The institution is also working with certified banks that hold the assets supporting TUSD.

In March 2019, TrustToken partnered with accounting firm Armanino to provide a real-time view of the US dollar supporting TUSD. In December 2019, TrustToken and Armanino launched TrustExplorer, a stablecoin assurance platform that uses blockchain-based assurance technology to provide a fundamental layer of trust and transparency to multiple digital asset ecosystems.

TrueUSD’s liquidity is provided through various major exchanges and DeFi protocols and is supported by over-the-counter (OTC), ​​which has international consumer access in more than 120 countries. TUSD also allows instant issuance rates with financial partners including Signet by Signature Bank, Silvergate Exchange Network (SEN), and PrimeX by PrimeTrust.

Investors and Supporters of TrueUSD (TUSD)

The team behind TrustToken comes from Stanford, UC Berkeley, Palantir, and Google, while its supporters include Founders Fund Angel, Stanford-StartX, and Blocktower.

How Does TrueUSD (TUSD) Work?

TrueUSD operates on the Ethereum blockchain using Ethereum smart contracts. It is possible to issue and use a tokenized version of the US dollar using these smart contracts.

When a customer uses US dollars ​​to buy TUSD on the TrustToken platform, the smart contract, which forms the basis of the platform, automatically creates and issues a matching amount of TUSD that forms a part of the circulating token supply. In return, when a user uses TUSD through the TrustToken platform, a smart contract automatically burns or removes the used tokens from the circulating TUSD supply.

TrustToken does not charge a purchase or commission fee for transactions, which is one of the benefits of using TUSD. The company generates income by collecting interest on the US dollars ​​held in company accounts. Investors are fully aware of their ability to buy and sell USD at a 1:1 ratio using TrustToken.

What is TrueUSD (TUSD) Used For?

Individuals and organizations use TUSD for various reasons. One of its benefits is that it allows merchants and investors to access crypto markets without exposure to fluctuations. It also allows these investors and merchants to abandon markets and prevent increases in volatility by focusing on the stability of the TUSD.

TUSD claims to be the most transparent stablecoin; monthly audits show that the amount of US dollars held in trust in FDIC-insured US bank accounts is equivalent to the number of TUSD in circulation.

You can check the instant amount of TrueUSD (TUSD) in circulation and everything about it from here.

How and Where Is TrueUSD (TUSD) Purchased?

You can exchange your stablecoins like USDT, USDC, etc. for the TrueUSD(TUSD) stablecoin on exchanges such as Binance, Kucoin, Bitget, Kraken, and Bitfinex.

The post What is TrueUSD (TUSD)? appeared first on Coin Engineer.

Neutron, is a smart contract platform that can operate between different chains. This platform offers complementary features to address the main problems faced by multi-chain protocols, such as lack of security, reliable impartiality, ecosystem incompatibility, and lack of cross-chain infrastructure.

Related: Neutron (NTRN) will be listed on Binance.

Thus, developers do not have to manage their protocols with multiple custom versions by deploying their applications only once.

You have to have a Binance account with KYC approval to participate in the Binance Launchpool event. If you are not registered with the Binance exchange, you can benefit from many opportunities along with a 20% commission discount and pay less commission for the transactions you make.

To Register with Binance %20 Commission Discount, Click Here.

Neutron (NTRN) Launchpool Details

Users will be able to earn Neutron (NTRN) tokens for 20 days as of 03:00 (TSI) on 11/10/2023, by depositing their BNB, TUSD, and FDUSD into designated pools. There are 1,000,000,000 NTRN in total in this program, while the Launchpool Token Rewards constitute 20,000,000 NTRN, which is 2.00% of the total token supply.

The first circulating supply will be 217,112,292 NTRN, which equals to 21.71% of the total token supply. For Launchpool, 80% of the total token supply to be offered will be distributed from BNB, 10% from TUSD, and 10% from FDUSD pools.

The maximum earning for each user from the BNB pool is 3,333.33 NTRN, and 416.67 Neutron (NTRN) for the TUSD and FDUSD pools.

 the BNB pool  will distribute 80% of the total token supply to be offered for the Lauchpool. Also, the launcpool will distribute a 10% portion for TUSD and FDUSD pools.

A user can earn a maximum of 3,333.33 NTRN from the BNB pool, and 416.67 NTRN from the TUSD and FDUSD pools.

Frequently Asked Questions About Binance Launchpool

• 1- What Should I Do to Participate in Launchpool?

You need to have BNB, TUSD, or FDUSD and stake them in the Neutron Launchpool section.

• 2- Can I stake both BNB, FDUSD, and TUSD?

Yes, you can earn from both pools at the same time.

• 3- I Staked But When Will I Get NTRN?

The system will transfer NTRN tokens to your personal pool on an hourly basis after you stake your products, you can transfer your accumulated NTRN to your spot account at any time.

• 4- What is The Time Interval for The Event?

Start: 11/10/2023 03:00
End: 30/10/2023 02:59

• 5- Can I Sell The NTRN Tokens I Bought Immediately?

You can sell your NTRN whenever you want after the trades start.

• 6- I Want to Participate in The Event, Will There Be Any Risk?

If you participate in the BNB pool, the value of your BNBs may decrease/increase.

This is also true for the TUSD and FDUSD pool, but it’s less risky than the BNB pool. However, the rewards from the TUSD and FDUSD pool will be less than the rewards from the BNB pool.

In short, there is an inverse proportion between the risk you take and the earnings.

• 7- How Many Times NTRN Will I Get If I Lock BNB Compared to The TUSD and FDUSD Pool?

If you lock the same value of BNB and TUSD, the NTRN rewards you will receive from the BUSD pool will be 4 times more than the rewards you will receive from the TUSD and FDUSD pools.

In the comment section, you can freely share your comments about the topic. Additionally, don’t forget to follow us on Telegram, YouTube, and Twitter for the latest news.

The post Neutron (NTRN) is being added to Binance Launchpool! appeared first on Coin Engineer.